Banro Announces Liberty Capital's Withdrawal of Dissident Nominees

TORONTO, ONTARIO--(Marketwired - June 25, 2014) - Banro Corporation ("Banro" or the "Company") (NYSE MKT:BAA) (TSX:BAA) is pleased to announce that Liberty Street Capital has withdrawn its dissident nominees for election at the Company's contested Annual and Special Shareholder Meeting to be held on June 27, 2014, effective immediately.

"On behalf of the board and management, I would like to thank our institutional and retail shareholders for their continued support of our company," said Richard Brissenden, Chairman of the board at Banro Corporation. "Banro is at a critical point in its life cycle, with the Company poised to enhance long-term value for shareholders, and intends to insure that the go-forward plan continues to respond to the feedback we have received from our shareholders."

While this process has been very costly and a distraction to management and the board, Banro remains focused and is confident that the clarity achieved through shareholder engagement will better enable the Company to proceed with business at hand and continue to enhance value for all shareholders.

Banro has strong corporate governance with a renewed board of highly experienced professionals. Banro's board and management remains focused on gold production from the Twangiza and Namoya mines, with longer term objectives that include the development of two additional major, wholly-owned gold projects, Lugushwa and Kamituga. Banro is reaching a milestone in its history where it will be able to reap the benefits afforded to a multi-mine company.

CORPORATE INFORMATION

Banro Corporation is a Canadian gold mining company focused on production from the Twangiza mine, which began commercial production September 1, 2012, and completion of its second gold mine at Namoya, located approximately 200 kilometres southwest of the Twangiza gold mine. The Company's longer term objectives include the development of two additional major, wholly-owned gold projects, Lugushwa and Kamituga. The four projects, each of which has a mining license, are located along the 210 kilometre long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the Democratic Republic of the Congo (the "DRC"). Led by a proven management team with extensive gold and African experience, the initial focus of the Company is on the mining of oxide material, which has a low capital intensity to develop but also attracts a lower technical and financial risk to the Company. All business activities are followed in a socially and environmentally responsible manner.