Banro Reports Incident at Its Namoya Mine Site

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Banro Reports Incident at Its Namoya Mine Site

TORONTO, ONTARIO--(Marketwired - May 18, 2017) - Banro Corporation (the "Company" or "Banro") (NYSE MKT:BAA)(TSX:BAA) reports that there have been a series of attacks on police and military personnel in the village areas surrounding the Namoya mine. Subsequently there were attempts to enter the Namoya mine camp by armed intruders, but they were repulsed by security. There was at least one fatality among the intruders, and one police fatality and one military personnel fatality. All of the Company's staff and workers were unharmed.

Reinforcements to support the police and military have arrived on site. As a precautionary measure, foreign nationals and non-essential local staff will be leaving site on a temporary basis until the security situation stabilizes. Mining operations are temporarily suspended. However, spraying of the heap leach facilities to extract gold is continuing. Mining operations will resume as soon as the security situation stabilizes. The Company expects to be in a position to provide an update within the coming week.

Normal operations are continuing at the Company's Twangiza mine.

Banro Corporation is a Canadian gold mining company focused on production from the Twangiza mine, which began commercial production September 1, 2012, and on production at its second gold mine at Namoya, where commercial production was declared effective January 1, 2016. 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. All business activities are followed in a socially and environmentally responsible manner.

Banro Corporation
Investor Relations
+1 (416) 366-2221
+1-800-714-7938
[email protected]
www.banro.com

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).