Banro intersects 29.00 metres grading 5.59 g/t Au, 7.70 metres grading 18.58 g/t Au and 13.50 metres grading 9.14 g/t Au in Pre-Feasibility Drilling at its Namoya Gold Project



    
    Other drill intersections include 25.01 metres grading 3.20 g/t Au,
    16.35 metres grading 4.44 g/t Au, and 24.00 metres grading 3.00 g/t Au
    

    TORONTO, Aug. 19 /CNW/ - Banro Corporation ("Banro" or the "Company")
(AMEX - "BAA"; TSX - "BAA") is pleased to announce further results from the
Company's pre-feasibility, infill core drilling program at its wholly-owned
Namoya project, located on the Twangiza-Namoya gold belt in the Democratic
Republic of the Congo (the "DRC").
    Assay results have been received for an additional 46 core holes which
have been drilled at Namoya since the previous drilling update in April 2008.

    
    Highlights include:

    -   Hole NDD136 intersected 25.01 metres grading 3.20 g/t Au from
        61.99 metres
    -   Hole NDD138 intersected 7.70 metres grading 18.58 g/t Au from
        51.30 metres
    -   Hole NDD141 intersected 16.35 metres grading 4.44 g/t Au from
        156.65 metres
    -   Hole NDD149 intersected 18.32 metres grading 3.29 g/t Au from
        42.98 metres
    -   Hole NDD150 intersected 13.50 metres grading 9.14 g/t Au from
        0.00 metres
    -   Hole NDD165 intersected 24.00 metres grading 3.00 g/t Au from
        21.00 metres
    -   Hole NDD169 intersected 29.00 metres grading 5.59 g/t Au from
        119.00 metres
    -   Hole NDD170 intersected 23.36 metres grading 2.90 g/t Au from
        66.64 metres
    

    The current drilling program is part of the pre-feasibility study being
undertaken at Namoya with the objective of upgrading Inferred Mineral
Resources into the Measured and Indicated categories, so that open pit ore
reserves can be determined as part of the pre-feasibility study, which is due
for completion in the fourth quarter of 2008. Two core drilling rigs are now
in operation at Namoya to complete this drilling.
    Thirty-nine of the holes reported in this release have been drilled at
the Mwendamboko, Kakula, Namoya Summit and Muviringu deposits which occur
along a two kilometre mineralized shear zone at Namoya. The mineralized
sections at Namoya are found within a series of quartz veins and stockworks
hosted by quartz-sericite-chlorite schists. The other seven holes (NDD152,
153, 154, 155, 158, 174 and 176) were drilled to test new mineralization
discovered by trenching west of Kakula and at Kangarube.
    Namoya currently has an estimated Indicated Mineral Resource of
938,800 ounces of gold (8,925,000 tonnes grading 3.27 g/t Au) and Inferred
Mineral Resource of 621,500 ounces of gold (7,074,000 tonnes grading 2.73 g/t
Au). These Mineral Resources were determined using the assay results from
drill holes NDD001 to NDD106. Reference is made to Banro's press release dated
June 8, 2007 (a copy of which can be obtained from SEDAR at www.sedar.com).
    Commenting on these drilling results at Namoya, Mike Prinsloo, President
and C.E.O. of the Company, said: "These results of the infill drilling program
at Namoya are encouraging and demonstrate our continued progress as well as
the potential of the Namoya gold project. We are targeting completion and
release of the Pre-Feasibility Study on Namoya in the fourth quarter of 2008."
    A locality plan of the reported drill holes is found accompanying this
press release on the Company's web site at
http://www.banro.com/i/pdf/2008-08-19_NRM.pdf.
    Results from the core holes are tabulated in the following table:

    
    -------------------------------------------------------------------------
                                                        MINERALIZATION
                                                -----------------------------
    HOLE     EASTING   NORTHING  AZIMUTH  INCL.  FROM     TO    WIDTH    Au
                                  (deg-  (deg-
              (UTM)      (UTM)     rees)  rees)   (m)     (m)    (m)    (g/t)
    -------------------------------------------------------------------------
    NDD132  560956.46  9557656.99   236    -53    0.90    5.00   4.10   0.62
                                                -----------------------------
                                                  7.66   10.00   2.34   1.30
                                                -----------------------------
                                                 12.30   13.75   1.45   0.95
                                                -----------------------------
                                                 23.00   26.00   3.00   1.82
                                                -----------------------------
                                                 28.70   30.08   1.38   8.62
                                                -----------------------------
                                                 40.84   50.00   9.16   1.65
                                                -----------------------------
                                                 52.20   56.25   4.05   1.32
                                                -----------------------------
                                                 71.60   76.00   4.40   1.57
                                                -----------------------------
                                                 80.00   83.00   3.00   7.32
                                                -----------------------------
                                                 94.30  100.30   6.00   6.50
                                                -----------------------------
                                                104.51  108.65   4.14   1.25
    -------------------------------------------------------------------------
    NDD133  560952.01  9557604.57   236    -54    7.00    8.00   1.00   2.24
                                                -----------------------------
                                                 14.50   21.00   6.50   2.56
                                                -----------------------------
                                                 26.35   36.50  10.15   2.85
                                                -----------------------------
                                                 41.60   44.00   2.40   6.30
                                                -----------------------------
                                                 91.00  103.00  12.00   0.93
                                                -----------------------------
                                                108.55  112.15   3.60   0.99
    -------------------------------------------------------------------------
    NDD134  560992.69  9557579.09   236    -55   29.70   31.48   1.78   0.56
                                                -----------------------------
                                                 33.65   38.00   4.35   1.96
                                                -----------------------------
                                                 89.00   90.00   1.00   1.33
                                                -----------------------------
                                                 98.00  104.00   6.00   0.75
                                                -----------------------------
                                                111.00  115.60   4.60   1.05
                                                -----------------------------
                                                119.50  127.00   7.50   3.40
    -------------------------------------------------------------------------
    NDD135  560981.81  9557726.78   236    -53   73.24   75.00   1.76   1.06
                                                -----------------------------
                                                 91.80   94.00   2.20   3.97
                                                -----------------------------
                                                112.00  114.81   2.81   1.27
                                                -----------------------------
                                                125.85  130.30   4.45   4.05
                                                -----------------------------
                                                157.00  164.00   7.00   1.56
    -------------------------------------------------------------------------
    NDD136  560956.18  9557557.09   236    -52   23.00   29.65   6.65   3.21
                                                -----------------------------
                                                 61.99   87.00  25.01   3.20
                                                -----------------------------
                                                 86.00   87.00   1.00   2.88
    -------------------------------------------------------------------------
    NDD137  560946.90  9557701.90   236    -49   17.00   19.00   2.00   0.82
                                                -----------------------------
                                                 23.00   24.00   1.00   1.43
                                                -----------------------------
                                                 36.00   48.15  12.15   3.05
                                                -----------------------------
                                                 60.60   62.10   1.50   0.85
                                                -----------------------------
                                                 78.00   82.70   4.70   3.39
    -------------------------------------------------------------------------
    NDD138  560919.10  9557728.05   236    -53   13.45   16.00   2.55   1.71
                                                -----------------------------
                                                 19.30   22.25   2.95   1.76
                                                -----------------------------
                                                 44.00   46.00   2.00   1.66
                                                -----------------------------
                                                 51.30   59.00   7.70  18.58
                                                -----------------------------
                                                 71.20   73.00   1.80   1.42
                                                -----------------------------
                                                104.00  107.00   3.00   1.53
    -------------------------------------------------------------------------
    NDD139  560958.69  9557755.67   236    -57   85.25   93.00   7.75   2.10
                                                -----------------------------
                                                116.00  117.40   1.40   7.87
    -------------------------------------------------------------------------
    NDD140  560889.68  9557755.75   236    -57   52.06   55.00   2.94   1.37
                                                -----------------------------
                                                 58.00   61.50   3.50   1.11
                                                -----------------------------
                                                 68.00   82.60  14.60   3.76
    -------------------------------------------------------------------------
    NDD141  560958.69  9557755.67   236    -60   88.00   92.18   4.18   5.24
                                                -----------------------------
                                                102.00  104.00   2.00  11.76
                                                -----------------------------
                                                110.80  113.35   2.55   3.23
                                                -----------------------------
                                                117.69  120.13   2.44   3.23
                                                -----------------------------
                                                123.05  124.05   1.00   3.29
                                                -----------------------------
                                                138.00  139.00   1.00   2.06
                                                -----------------------------
                                                156.65  173.00  16.35   4.44
                                                -----------------------------
                                                181.00  185.00   4.00   0.98
                                                -----------------------------
                                                201.00  202.00   1.00   1.72
    -------------------------------------------------------------------------
    NDD142  560928.40  9557786.94   236    -51   83.00   84.00   1.00   0.58
    -------------------------------------------------------------------------
    NDD143  560880.36  9557826.76   236    -62  106.80  110.00   3.20   0.58
                                                -----------------------------
                                                135.70  146.13  10.43   1.11
                                                -----------------------------
                                                151.10  157.00   5.90   2.21
                                                -----------------------------
                                                160.35  162.00   1.65   0.56
                                                -----------------------------
                                                169.00  171.00   2.00   2.25
                                                -----------------------------
                                                187.25  192.00   4.75   1.10
    -------------------------------------------------------------------------
    NDD144  560993.58  9557634.75   236    -57   18.48   22.35   3.87   0.95
                                                -----------------------------
                                                 28.40   29.47   1.07   1.01
                                                -----------------------------
                                                 64.00   72.48   8.48   2.47
                                                -----------------------------
                                                 77.32   82.22   4.90   1.99
                                                -----------------------------
                                                 87.60   90.00   2.40   0.81
                                                -----------------------------
                                                148.50  149.10   1.40   1.43
                                                -----------------------------
                                                152.39  158.10   5.71   1.37
                                                -----------------------------
                                                175.00  177.00   2.00   1.31
    -------------------------------------------------------------------------
    NDD145  560861.80  9557785.30   236    -57   71.92   78.56   6.64   6.69
                                                -----------------------------
                                                 87.00   88.00   1.00   1.87
    -------------------------------------------------------------------------
    NDD146  561092.44  9557779.16   236    -50   15.04   15.78   0.74   1.03
    -------------------------------------------------------------------------
    NDD147  561992.43  9556627.20   233    -53   90.00   95.00   5.00   0.78
                                                -----------------------------
                                                112.00  113.00   1.00   2.83
                                                -----------------------------
                                                128.00  137.40   9.40   3.37
                                                -----------------------------
                                                145.00  148.00   3.00   1.19
    -------------------------------------------------------------------------
    NDD148  560153.95  9557786.14   360    -50   46.35   47.70   1.35   3.23
    -------------------------------------------------------------------------
    NDD149  560233.11  9557763.89   360    -50   42.98   61.30  18.32   3.29
                                                -----------------------------
                                                 69.00   74.28   5.28   2.22
    -------------------------------------------------------------------------
    NDD150  561553.00  9557030.00   290    -55    0.00   13.50  13.50   9.14
                                                -----------------------------
                                                 19.88   21.40   1.52   0.96
                                                -----------------------------
                                                 56.90   69.45  12.55   4.44
                                                -----------------------------
                                                 75.15   77.00   1.85   1.25
                                                -----------------------------
                                                 95.90  101.93   6.03   5.20
    -------------------------------------------------------------------------
    NDD151  560454.14  9557726.48    45    -49   No significant intersection
    -------------------------------------------------------------------------
    NDD152  561163.88  9557039.45   230    -60   31.00   32.00   1.00   1.84
                                                -----------------------------
                                                 40.00   41.00   1.00   3.44
                                                -----------------------------
                                                 47.00   48.00   1.00   1.00
                                                -----------------------------
                                                120.00  121.00   1.00   1.38
                                                -----------------------------
    NDD153  563568.55  9556124.48    45    -50   56.60   57.60   1.00   0.92
    -------------------------------------------------------------------------
    NDD154  563580.51  9556080.75    45    -50   No significant intersection
    -------------------------------------------------------------------------
    NDD155  563564.50  9556176.31    45    -50   No significant intersection
    -------------------------------------------------------------------------
    NDD156  560995.49  9557638.36   236    -78   14.00   15.30   1.30   7.04
                                                -----------------------------
                                                 33.68   35.00   1.32   0.57
                                                -----------------------------
                                                 60.25   61.80   1.55   0.52
                                                -----------------------------
                                                 63.80   65.15   1.35   9.36
    -------------------------------------------------------------------------
    NDD157  561571.25  9557121.80   270    -50   17.21   21.00   3.79   1.39
                                                -----------------------------
                                                 29.65   31.25   1.60   0.66
                                                -----------------------------
                                                 60.75   62.00   1.25   0.75
    -------------------------------------------------------------------------
    NDD158  563568.55  9556124.48    45    -54   90.15  105.40  15.25   4.05
    -------------------------------------------------------------------------
    NDD159  561606.61  9556966.86   290    -79  102.00  108.15   6.15   1.84
                                                -----------------------------
                                                113.00  114.00   1.00   4.53
                                                -----------------------------
                                                131.00  134.07   3.07   1.32
                                                -----------------------------
                                                238.00  240.00   2.00   0.64
    -------------------------------------------------------------------------
    NDD160  560861.80  9557785.30   236    -78   35.80   39.30   3.50   3.04
                                                -----------------------------
                                                121.88  123.15   1.27   2.37
                                                -----------------------------
                                                126.10  133.76   7.66   2.24
                                                -----------------------------
                                                149.25  157.60   8.35   0.71
                                                -----------------------------
                                                163.00  166.00   3.00   0.80
                                                -----------------------------
                                                198.00  199.00   1.00   2.17
                                                -----------------------------
                                                220.00  221.00   1.00   1.18
    -------------------------------------------------------------------------
    NDD161  560997.16  9557616.80   236    -75   15.00   16.95   1.95   3.62
                                                -----------------------------
                                                 77.00   86.35   9.35   1.95
                                                -----------------------------
                                                 93.00   94.85   1.85   1.61
                                                -----------------------------
                                                125.72  128.00   2.28   2.39
                                                -----------------------------
                                                164.54  168.24   3.70   5.49
                                                -----------------------------
                                                175.66  184.00   8.34   1.30
                                                -----------------------------
                                                187.94  189.36   1.42   0.96
                                                -----------------------------
                                                191.75  195.58   3.83   4.08
                                                -----------------------------
                                                208.50  219.00  10.50   2.47
                                                -----------------------------
                                                222.10  228.00   5.90   0.81
    -------------------------------------------------------------------------
    NDD162  561571.69  9557071.03   290    -50   20.73   27.00   6.27   0.77
                                                -----------------------------
                                                 31.81   37.72   5.91   3.02
                                                -----------------------------
                                                 40.72   41.72   1.00   1.08
    -------------------------------------------------------------------------
    NDD163  562017.74  9556482.85   233    -75   33.00   35.50   2.50   3.65
    -------------------------------------------------------------------------
    NDD164  562070.22  9556476.44   233    -60   66.65   67.90   1.25  34.10
                                                -----------------------------
                                                126.63  127.45   0.82   1.87
    -------------------------------------------------------------------------
    NDD165  561519.82  9556954.72   290    -65   21.00   45.00  24.00   3.00
                                                -----------------------------
                                                 62.87   63.90   1.03   0.76
    -------------------------------------------------------------------------
    NDD166  562017.74  9556482.85   233    -80   93.19   94.00   0.81   0.60
                                                -----------------------------
                                                190.40  191.00   0.60   1.95
    -------------------------------------------------------------------------
    NDD167  561874.10  9556474.54   233    -60   42.40   65.50  23.10   1.39
                                                -----------------------------
                                                 68.84   86.37  17.53   1.16
                                                -----------------------------
                                                123.00  124.20   1.20   1.38
    -------------------------------------------------------------------------
    NDD168  560637.52  9557597.86   225    -56   31.90   36.00   4.10   0.91
                                                -----------------------------
                                                128.00  129.00   1.00   1.85
    -------------------------------------------------------------------------
    NDD169  562013.23  9556584.67   233    -52  119.00  148.00  29.00   5.59
    -------------------------------------------------------------------------
    NDD170  561607.82  9557118.58   270    -53   61.17   61.80   0.63  18.30
                                                -----------------------------
                                                 66.64   90.00  23.36   2.90
    -------------------------------------------------------------------------
    NDD171  560953.90  9557585.31   236    -53   12.65   16.00   3.35   0.74
                                                -----------------------------
                                                 18.00   20.60   2.60   0.65
                                                -----------------------------
                                                 38.90   41.70   2.80   2.98
                                                -----------------------------
                                                 61.38   69.00   7.62   1.16
                                                -----------------------------
                                                 72.05   95.00  22.95   1.67
                                                -----------------------------
                                                110.00  112.00   2.00   2.07
    -------------------------------------------------------------------------
    NDD172  560734.65  9557749.53   225    -68   31.80   33.10   1.30  14.10
                                                -----------------------------
                                                188.00  189.00   1.00  30.80
                                                -----------------------------
                                                165.78  168.21   2.43   1.19
    -------------------------------------------------------------------------
    NDD173  560776.60  9557449.00    56    -50   No significant intersection
    -------------------------------------------------------------------------
    NDD174  561161.28  9557018.01   270    -50   24.00   25.00   1.00   0.74
    -------------------------------------------------------------------------
    NDD175  561544.67  9556990.19   290    -60    8.30    9.64   1.34   1.54
                                                -----------------------------
                                                 12.64   21.50   8.86   2.04
                                                -----------------------------
                                                 29.23   33.03   3.80   1.23
                                                -----------------------------
                                                 52.00   53.00   1.00   1.38
                                                -----------------------------
                                                 61.40   68.58   7.18   5.34
                                                -----------------------------
                                                 74.15   78.10   3.95   4.39
    -------------------------------------------------------------------------
    NDD176  561330.45  9557079.44   220    -50   47.74   48.50   0.76   1.48
    -------------------------------------------------------------------------
    NDD177  561964.00  9556498.00   233    -60  124.90  134.50   9.60   1.25
                                                -----------------------------
                                                156.50  158.58   2.08   2.01
    -------------------------------------------------------------------------

    Holes are uncut, with the exception of a single, exceptionally high grade
    sample of 1,940 g/t Au over 0.55 metres in NDD137, which was cut to
    30.00 g/t Au.
    

    Core holes were inclined at between minus 49 and 80 degrees and averaged
161.53 metres in depth with a maximum down hole depth of 257.40 metres. Core
recovery for these holes averaged 89.1% within the mineralized zones. It is
estimated that the true widths of the mineralized zones are approximately 80%
of the intersected widths in the holes. Drill hole spacing was on 40 metre
sections.
    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 50g. 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 Namoya project is contained in
the technical report dated August 17, 2007 and entitled "Preliminary
Assessment NI 43-101 Technical Report, Namoya Gold Project, Maniema 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, each with mining
licenses, 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 exploration results disclosed by this press release have been
reviewed, verified (including sampling, analytical and test data) and compiled
by the Company's geological staff based in Bukavu, DRC, under the supervision
of Daniel K. Bansah, who is a Member of The Australasian Institute of Mining
and Metallurgy (Aus.I.M.M), the Company's Vice President, Exploration and a
"qualified person" (as such term is defined in National Instrument 43-101).

    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 Annual Report, 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, exploration results,
potential mineralization, potential mineral resources and the Company's
exploration and development plans with respect to Namoya) 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 mineral resource figures referred
to in this press release are estimates and no assurances can be given that the
indicated levels of gold will be produced), the possibility that future
exploration results will not be consistent with the Company's expectations,
gold recoveries for Namoya 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 28, 2008 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.





For further information:

For further information: please visit our website at www.banro.com, or
contact: Mike Prinsloo, President and C.E.O., South Africa, Tel: +27 (0)11
958-2885; 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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