Banro increases measured and indicated resources at Twangiza by 49% to 3.00 million ounces of gold



    TORONTO, Jan. 31 /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").

    
    -   Measured and Indicated Mineral Resource estimates have increased by
        49% to 3.008 million ounces of gold (39.229 million tonnes grading
        2.39 g/t Au)
    -   Inferred Mineral Resources now stand at 2.633 million ounces of gold
        (43.104 million tonnes grading 1.90 g/t Au)
    

    This significant increase in the Measured and Indicated Mineral Resources
at Twangiza results from additional core drilling of 10,616.2 metres (38 drill
holes) which has been completed since the previous Twangiza mineral resource
determination announced on September 28, 2006 (see the Company's press release
dated September 28, 2006).
    Table I below summarizes the current Mineral Resource estimates for the
Main Twangiza Deposit, as of January 31, 2007.

    
    Table I                                      (Using a 1.0 g/t Au cut-off)
    -------------------------------------------------------------------------
    Mineral                                               Au
    Resource Category                    Tonnes         (g/t)         Ounces
    -------------------------------------------------------------------------
    Measured                          9,926,000         2.99         955,000
    Indicated                        29,303,000         2.18       2,053,000
    Measured & Indicated             39,229,000         2.39       3,008,000
    -------------------------------------------------------------------------
    Inferred(*)                      43,104,000         1.90       2,633,000
    -------------------------------------------------------------------------
    Ounces and tonnes rounded to the nearest '000.

    (*) Includes an Inferred Resource of 132,000 ounces of gold (985,000
    tonnes grading 4.16 g/t Au) of "Valley Fill" oxide material from previous
    artisanal activity associated with the Main Twangiza deposit.

    Table II below summarizes the Mineral Resource estimates at Twangiza in
terms of oxide, transitional and fresh rock (sulphide) categories.

    Table II                                     (Using a 1.0 g/t Au cut-off)
    -------------------------------------------------------------------------
    Material              Measured & Indicated              Inferred
    Type                          Au                           Au
                        Tonnes  (g/t)    Ounces      Tonnes  (g/t)    Ounces
    -------------------------------------------------------------------------
    Oxide           13,327,000  2.70  1,156,000   3,266,000  2.66    279,000
    Transitional    25,902,000  2.22  1,852,000   9,134,000  1.90    557,000
    Sulphide                                     30,704,000  1.82  1,797,000
    -------------------------------------------------------------------------
    Total           39,229,000  2.39  3,008,000  43,104,000  1.90  2,633,000
    -------------------------------------------------------------------------
    Ounces and tonnes rounded to the nearest '000.
    

    The Mineral Resources at Twangiza have been determined to vertical depths
varying from 160 metres below surface in the north end of the deposit to
430 metres in the south, following the plunge of the mineralization.
    The Mineral Resources were calculated from the current and previous core
drilling programs as well as previous adit information. Gold grades in the
Measured and Indicated Resource categories have been determined using ordinary
kriging interpolation algorithm into a 3-Dimensional block model constrained
by mineralization wireframes. Gold grades in the Inferred Resource category
have been determined using the weighted inverse distance squared method. The
mineralization models were constrained within the wireframe with primary block
dimensions of 20 metres along the strike and cross structure directions, and
10 metres in the vertical direction. Higher-grade values in the oxide and
transitional material have been statistically capped to 30 g/t Au, while in
the sulphide material higher-grade values have been statistically capped to
20 g/t Au. The improved geological knowledge coupled with the increased data
density, the continuity of the mineralization and the increased reliability of
the database, have allowed resources to be classified with higher confidence.
Tonnages and grades are reported using a 1.0 g/t Au cut-off.
    Commenting on these results at Twangiza, Peter Cowley, President and
C.E.O. of the Company, said: "The significant 49% increase in the Measured and
Indicated categories is encouraging with a high degree of conversion from the
Inferred Mineral Resource category. These results are being incorporated into
a Preliminary Assessment being undertaken with respect to Twangiza. We were
hoping to complete such an assessment this month with the assistance of an
independent consulting group, however this has now been delayed until the
results of additional metallurgical testwork on the transitional and sulphide
materials have been completed. This testwork is underway and is exploring a
variety of flow sheet alternatives. Similarly on the Namoya project,
metallurgical testwork is being undertaken on the sulphide material which was
intersected in drilling in the last quarter of 2006."
    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, split with half the sample
then being pulverised down to minus 75 microns. A portion of the pulverised
sample was then shipped to the SGS Laboratory in Mwanza, Tanzania or ALS
Chemex in Johannesburg, South Africa (which are both independent of the
Company) where the samples were analysed for gold by fire assay using a 50 g
sample. As part of the Company's QA/QC procedures, internationally recognised
standards, duplicates and blanks were inserted into the sample batches.

    The Mineral Resource estimates disclosed in this press release have been
prepared in accordance with National Instrument 43-101 ("NI 43-101") based on
information compiled by Banro's Mineral Resources Manager, Daniel Bansah, who
is a Member of The Australasian Institute of Mining and Metallurgy
(Aus.I.M.M). Mr. Bansah has over 17 years experience in the determination of
gold mineral resources and is a "qualified person" as such term is defined in
NI 43-101. Mr. Bansah has reviewed and approved the contents of this press
release.
    A detailed, NI 43-101 technical report on Twangiza, including the updated
Mineral Resource estimates disclosed by this press release, will be filed on
SEDAR and on the Company's website within 45 days of this press release.
    Additional information with respect to the Twangiza property is contained
in the following technical reports of Michael B. Skead (who is the Company's
Vice President, Exploration and a "qualified person" as such term is defined
in NI 43-101): (a) the report dated November 10, 2006 and entitled "Third
NI 43-101 Technical Report, Twangiza Project, South Kivu Province, Democratic
Republic of the Congo"; and (b) the report dated March 30, 2006 and entitled
"NI 43-101 Technical Report, Twangiza Project, South Kivu Province, Democratic
Republic of the Congo". Copies of these reports can be obtained from SEDAR at
www.sedar.com. Exploration at Twangiza is being conducted under the
supervision of Mr. Skead (Aus.I.M.M).

    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.

    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 future plans and objectives
of the Company) 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,
changes in world gold markets and equity markets, political developments in
the DRC, 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 ecological data and the other risks involved in the gold exploration and
development industry. 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 and C.E.O., 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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