Mr. Richard Brissenden reports

BANRO PROVIDES OPERATIONS UPDATE

Banro Corp. has provided a brief overview of progress at its Twangiza and Namoya mines in the Democratic Republic of the Congo (DRC).

Namoya update

"The quality of the ore at Namoya is not in question. The metallurgy and grade are as expected," commented Banro board chairman Richard Brissenden. "The excess volume of fine material in the part of the orebody currently being mined is proving to be the challenge. The operations team on the ground proceeded through the early commissioning phase, as they would for any mine at this stage, adjusting solutions, volumes and rates. During the early weeks of commissioning, they believed they could make the necessary and conventional adjustments to the process to accommodate the higher-than-anticipated volume of fines -- this was part of the natural course of commissioning."

More recently, the operations team determined that modifications would need to be made to the wet circuit to accommodate the current fines content, which is larger than anticipated and beyond the capacity of some elements of the processing plant. While the adjustments will cause some delay in reaching peak production, the mine can continue to produce gold from the gravity circuit (which also recovers gold from the fines) and the heap-leach process, which is designed for the coarser material. The projected gold production is as outlined in the July 9, 2014, press release.

Banro has engaged the services of Kappes Cassiday and Associates (KCA), a firm which specializes in the development, engineering and implementation of extractive metallurgical processes for the mining industry. KCA will be on site at Namoya early next week to assess the current plant and assist in the evaluation and development of options. Namoya will continue production during this evaluation process.

Twangiza

The tonnage throughput at the Twangiza mine is now in a range consistent with expectations following the plant adjustments made in 2013 and completed earlier this year and the advent of the current drier season. "We are very pleased with the Twangiza operation," commented Mr. Brissenden. "Daily throughput tonnage is being maintained at higher, more-acceptable levels than prior periods, and recoveries have stabilized. We are now seeing the positive effects of the plant enhancements made in the past several quarters and will continue to 'push' components of the plant to further optimize production."

Banro will report 2014 second quarter financials in mid-August.

Qualified person

Daniel K. Bansah, head of projects and operations, and a qualified person (as such term is defined in National Instrument 43-101), has reviewed and approved the technical information in this press release.

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