Banro announces senior appointments for its operations in D.R.Congo and Toronto

    TORONTO, Sept. 10 /CNW/ - Banro Corporation ("Banro" or the "Company")
(AMEX:   "BAA"; TSX - "BAA") is pleased to announce a number of senior
appointments for its operations in the Democratic Republic of the Congo (the
"DRC") and Toronto.
    Daniel K. Bansah, who is currently Banro's Mineral Resource Manager, is
promoted to the position of Vice President, Exploration. He has over 19 years
experience in mineral exploration and development in Africa, with a principal
focus on resource and ore reserve estimation. Prior to joining Banro in 2004,
Mr. Bansah was Group Mineral Resource Manager with Ashanti Goldfields, with
responsibilities for the coordination, auditing and compilation of Ashanti's
Mineral Resources and Ore Reserves in Africa. Mr. Bansah, who has a M.Sc in
Mineral Exploration with Distinction from the University of Leicester and is a
Member of Aus.I.M.M., will continue to be based at the Company's exploration
office in Bukavu, DRC.
    Dr. Howard Fall, who has served as Banro's Chief Geologist since 2005, is
promoted to the position of Exploration Manager. He has over 25 years
experience as a geologist in Africa, mainly in gold exploration. He has a
Ph.D. from Sheffield University in the UK, and has managed exploration
programs in Ghana, Burkina Faso, Tanzania and the DRC for Gencor, Billiton,
Ashanti Goldfields and AngloGold Ashanti, respectively. Dr. Fall played a
principal role in the discovery and exploration of the Yamfo gold trend in
Ghana. He is also based at the Company's exploration office in Bukavu, DRC.
    Mr. Désire Sangara, who has served for three years as the Company's
Administrative Manager, is promoted to the position of Vice President,
Government Relations. He has a Masters degree in management from E.D.C.
(Paris) and has over 17 years professional experience in the DRC's exploration
and mining sector. He previously held senior positions with the
Belgium-Luxemburg mining company, Mindev, and with Ashanti Goldfields, where
for seven years he was the company's country manager. Mr. Sangara will
continue to be based in Kinshasa, DRC.
    Mr. Donat Madilo, who has served as Banro's Treasurer since 1998, is
promoted to the position of Vice President, Treasury. Mr. Madilo has over 16
years experience in finance and administration. He holds a Bachelor of
Commerce (Honors) from Institut Supérieur de Commerce de Kinshasa, a B.Sc.
(Licence) in Applied Economics from University of Kinshasa and a Masters of
Science in Accounting (Honors) from Roosevelt University in Chicago. Mr.
Madilo will continue to be based in the Company's head office in Toronto.
    Commenting on these appointments, Peter Cowley, Banro's President and
C.E.O., said: "We congratulate Dan, Howard, Désire and Donat on their
promotions, which are exceptionally well-earned and demonstrate the tremendous
depth of talent that characterizes Banro's senior exploration and support
management in the DRC and elsewhere. Both Dan and Howard are highly respected
in the industry and both have made outstanding contributions to the Company's
successful exploration program. Désire has performed an excellent job
representing the Company in the DRC and Donat has proved invaluable in his
role as Treasurer. The appointments will further position the Company to
successfully pursue its two-pronged strategy of moving Banro from explorer to
gold producer while enhancing the exploration program on the Company's
extensive landholdings on the Twangiza-Namoya gold belt."
    Mr. Bansah replaces Michael Skead, who has resigned from the Company. The
Company thanks Mr. Skead for his contribution in helping to set up and advance
Banro's successful exploration program over the past three years. "Mike has
been a valued founder member of our exploration team in the DRC and remains a
very good friend. We wish him all the best in his future endeavours," said Mr.

    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

    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 future production, potential mineralization and the
Company's exploration and development plans and objectives) 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, gold recoveries 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), the
possibility that future exploration results will not be consistent with the
Company's expectations, changes in world gold markets and equity markets,
political developments in the DRC, foreign currency fluctuations, 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 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.

For further information:

For further information: please visit our website at, or
contact: Simon Village, Chairman, United Kingdom, Tel: (44) 870-351-7904;
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

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890