Banro increases Measured & Indicated Mineral Resources by 23% at Twangiza to 3.9 million ounces



    TORONTO, Jan. 15 /CNW/ - Banro Corporation ("Banro" or the "Company")
(AMEX - "BAA"; TSX - "BAA") is pleased to announce the following updated
Mineral Resource estimates at its wholly-owned Twangiza project in the
Democratic Republic of the Congo (the "DRC").

    Highlights:

    
    -   Measured and Indicated Mineral Resources have increased by 23% to
        3,872,000 ounces of gold (53,629,000 tonnes grading 2.25 g/t Au).

    -   The Inferred Mineral Resource now stands at 2,705,000 ounces of gold
        (46,188,000 tonnes grading 1.82 g/t Au).

    -   Total Mineral Resources at the Twangiza North deposit have increased
        significantly, and currently consist of an Indicated Mineral Resource
        of 700,000 ounces of gold (7,332,000 tonnes grading 2.97 g/t Au) and
        an Inferred Mineral Resource of 490,000 ounces of gold
        (6,349,000 tonnes grading 2.40 g/t Au).

    The increase in Mineral Resources at Twangiza results from the ongoing
infill, core drilling program on the Twangiza North deposit with the objective
of upgrading and increasing the previously defined Inferred Mineral Resource.
An additional 65 core holes totalling 13,751.24 metres have been included in
this resource update since the previous resource update in June 2007.
    Table I below summarizes the current Mineral Resource estimates for the
Twangiza project. These estimates relate to the Twangiza Main and Twangiza
North deposits and have an effective date of December 12, 2007.

    Table I

    Mineral Resource Category         Tonnes         Grade          Ounces
                                                    (g/t Au)
    Measured                        14,510,000        2.82         1,315,000
    Indicated                       39,119,000        2.03         2,558,000
    Measured & Indicated            53,629,000        2.25         3,872,000

    Inferred                        46,188,000        1.82         2,705,000

    (using a 1.0 g/t Au cut-off and with Tonnes and Ounces rounded to
    nearest '000).


    Table II below summarizes the estimated Mineral Resources for the Twangiza
project in terms of oxide, transitional and fresh rock (sulphide) categories.

    Table II

    Material Type      Measured & Indicated                Inferred
                     Tonnes    Grade   Ounces     Tonnes     Grade    Ounces
                             (g/t Au)                      (g/t Au)

    Oxide          16,925,000  2.82  1,535,600  3,002,000    2.84    274,000
    Transition     14,310,000  2.40  1,104,000  2,491,000    1.94    155,000
    Fresh
     (sulphide)    22,394,000  1.71  1,233,100  40,695,000   1.74  2,276,000
    Total          53,629,000  2.25  3,872,000  46,188,000   1.82  2,705,000

    (using a 1.0 g/t Au cut-off and with Tonnes and Ounces rounded to
    nearest '000).


    Table III below summarizes the current Mineral Resource estimates for the
Twangiza North deposit alone.

    Table III

    Mineral Resource Category         Tonnes          Grade           Ounces
                                                    (g/t Au)
    Indicated                        7,332,000         2.97          700,000

    Inferred                         6,349,000         2.40          490,000

    (using a 1.0 g/t Au cut-off and with Tonnes and Ounces rounded to
    nearest '000).
    

    Commenting on these results at Twangiza, Peter Cowley, President of the
Company, said: "The infill drilling program at our Twangiza North discovery
has been successful in rapidly converting the previous Inferred Resource into
Indicated as well as increasing the total Mineral Resources at this deposit.
In addition, the mineralization at Twangiza North is hosted mainly in feldspar
porphyry sills with the mineralization in this lithology being non-refractory.
We expect to further increase our Measured and Indicated Resources at Twangiza
in the coming months as we complete infill drilling at Twangiza North and then
commence infill drilling at the Twangiza Main deposit. Drilling has now
recommenced after the year-end break with four core rigs at Twangiza with the
goal of adding to and upgrading these Mineral Resources which will then be
incorporated into the pre-feasibility study due for completion during the
second quarter of this year.
    In addition, we have now established a new camp at the major artisanal
site at Mufwa which is situated 14 km northwest of the Twangiza Main deposit.
Additional rigs are being mobilized to Twangiza so this new prospect can also
be drilled during the coming months after groundwork has been completed."
    The Mineral Resources at Twangiza were calculated from the current and
previous core drilling programs as well as previous adit information. Gold
grades in the Twangiza Main deposit have been determined using ordinary
kriging into a 3-Dimensional block model constrained by wireframes with
primary block dimensions of 20 metres along the strike and cross structure
directions, and 10 metres in the vertical direction. Gold grades in the
Twangiza North deposit have been determined using weighted inverse distance
squared into a 3-Dimensional block model constrained by wireframes for the
mineralization with primary block dimensions of 10 metres along the strike and
cross structure directions, and 5 metres in the vertical direction.
Higher-grade values in the oxide and transition material have been
statistically capped to 32 g/t Au, while in the sulphide material higher-grade
values have been statistically capped to 20 g/t Au. Tonnages and grades are
reported using a 1.0 g/t Au cut-off.
    Drill cores for assaying were taken at a maximum of one metre intervals
and were cut with a diamond saw with one-half of the core placed in sealed
bags and sent to the Company's sample preparation facility in Bukavu, DRC. The
core samples were then crushed down to minus 2 mm, and split with half of the
sample pulverised down to 90% passing 75 microns. Approximately 150 grams of
the pulverised sample was then shipped to the SGS Laboratory (which is
independent of the Company) in Mwanza, Tanzania where the samples were
analysed for gold by fire assay using a 50 g charge. As part of the Company's
QA/QC procedures, internationally recognised standards, duplicates and blanks
were inserted into the sample batches.
    Additional information with respect to the Twangiza project is contained
in the technical report dated September 13, 2007 and entitled "Preliminary
Assessment NI 43-101 Technical Report, Twangiza Gold Project, South Kivu
Province, Democratic Republic of Congo". A copy of this report can be obtained
from SEDAR at www.sedar.com.

    Banro is a Canadian-based gold exploration company focused on the
development of four major, wholly-owned gold projects along the 210
kilometre-long Twangiza-Namoya gold belt in the South Kivu and Maniema
provinces of the DRC. Led by a proven management team with extensive gold and
African experience, Banro's strategy is to unlock shareholder value by
increasing and developing its significant gold assets in a socially and
environmentally responsible manner.

    Qualified Person
    ----------------
    The Mineral Resource estimates disclosed in this press release have been
prepared in accordance with National Instrument 43-101 by Banro's Vice
President, Exploration, Daniel K. Bansah, who is a Member of The Australasian
Institute of Mining and Metallurgy (Aus.I.M.M). Mr. Bansah has over 19 years
experience in the determination of gold mineral resources and is a "qualified
person" as such term is defined in National Instrument 43-101. Mr. Bansah has
reviewed and approved the contents of this press release. Exploration at
Twangiza is being conducted under the supervision of Mr. Bansah.

    Cautionary Note to U.S. Investors: The United States Securities and
Exchange Commission (the "SEC") permits U.S. mining companies, in their
filings with the SEC, to disclose only those mineral deposits that a company
can economically and legally extract or produce. Certain terms are used by the
Company, such as "measured", "indicated", and "inferred" "resources", that the
SEC guidelines strictly prohibit U.S. registered companies from including in
their filings with the SEC. U.S. Investors are urged to consider closely the
disclosure in the Company's Form 40-F Registration Statement, File No.
001-32399, which may be secured from the Company, or from the SEC's website at
http://www.sec.gov/edgar.shtml.

    Forward-Looking Statements: This press release contains forward-looking
statements. All statements, other than statements of historical fact, that
address activities, events or developments that the Company believes, expects
or anticipates will or may occur in the future (including, without limitation,
statements regarding the estimation of mineral resources, potential
mineralization, potential mineral resources and the Company's exploration and
development plans with respect to Twangiza) are forward-looking statements.
These forward-looking statements reflect the current expectations or beliefs
of the Company based on information currently available to the Company.
Forward-looking statements are subject to a number of risks and uncertainties
that may cause the actual results of the Company to differ materially from
those discussed in the forward-looking statements, and even if such actual
results are realized or substantially realized, there can be no assurance that
they will have the expected consequences to, or effects on the Company.
Factors that could cause actual results or events to differ materially from
current expectations include, among other things, failure to establish
estimated mineral resources, the possibility that future exploration results
will not be consistent with the Company's expectations, gold recoveries for
Twangiza being less than those indicated by the metallurgical testwork carried
out to date (there can be no assurance that gold recoveries in small scale
laboratory tests will be duplicated in large tests under on-site conditions or
during production), changes in world gold markets and equity markets,
political developments in the DRC, fluctuations in currency exchange rates,
inflation, changes to regulations affecting the Company's activities,
uncertainties relating to the availability and costs of financing needed in
the future, the uncertainties involved in interpreting drilling results and
other geological data and the other risks disclosed under the heading "Risk
Factors" and elsewhere in the Company's annual information form dated
March 30, 2007 filed on SEDAR at www.sedar.com. Any forward-looking statement
speaks only as of the date on which it is made and, except as may be required
by applicable securities laws, the Company disclaims any intent or obligation
to update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Although the Company
believes that the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on such
statements due to the inherent uncertainty therein.
    The mineral resource figures disclosed in this press release are
estimates and no assurances can be given that the indicated levels of gold
will be produced. Such estimates are expressions of judgment based on
knowledge, mining experience, analysis of drilling results and industry
practices. Valid estimates made at a given time may significantly change when
new information becomes available. While the Company believes that the
resource estimates included in this press release are well established, by
their nature resource estimates are imprecise and depend, to a certain extent,
upon statistical inferences which may ultimately prove unreliable. If such
estimates are inaccurate or are reduced in the future, this could have a
material adverse impact on the Company.
    Mineral resources are not mineral reserves and do not have demonstrated
economic viability. There is no certainty that mineral resources can be
upgraded to mineral reserves through continued exploration.





For further information:

For further information: please visit our website at www.banro.com, or
contact: Peter Cowley, President, United Kingdom, Tel: (44) 790-454-0856;
Arnold T. Kondrat, Executive Vice-President, Toronto, Ontario, or Martin
Jones, Vice-President, Corporate Development, Toronto, Ontario, Tel: (416)
366-2221 or 1-800-714-7938

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