09:55 AM EST - Banro Corporation : provided a corporate update of its operations in the Democratic Republic of the Congo and an outlook for 2013. While Banro continues to target oxide and free-milling resources across the Twangiza-Namoya gold belt, the focus is clearly now on a brownfields strategy, which will enhance the returns on capital and shorten the lead-time for growth compared to developing grass roots projects, which would require new infrastructure. This strategy has been introduced following the potential to significantly increase the mineral resources in the immediate areas of Twangiza and Namoya, and will take priority over the development of either the Kamituga or Lugushwa projects. This is despite the fact that these two projects have demonstrated the potential for significant resources following the recent drilling results. In view of this, further drilling will be undertaken on these projects during 2013 to define additional mineral resources before embarking upon the economic assessments. Banro Corporation
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