Banro appoints Mike Prinsloo Chief Executive Officer

    TORONTO, Aug. 21 /CNW/ - Banro Corporation ("Banro" or the "Company")
(AMEX - "BAA"; TSX - "BAA") is pleased to announce the appointment of Michael
Prinsloo to Chief Executive Officer ("CEO") of the Company, effective
September 17, 2007. In this position, Mr. Prinsloo will lead the Company's
transition from gold explorer to developer, with specific responsibility for
overseeing the planned feasibility studies on Banro's wholly-owned, core
projects of Twangiza and Namoya, and for taking these gold projects through
the construction stage and into production.
    Peter Cowley, who has successfully managed the Company for the past three
years, a period during which Banro has added significant additional gold
resources and delivered two world class projects in the form of Twangiza and
Namoya, will retain the position of President with an oversight on the
Company's ongoing exploration program.
    Michael Prinsloo has some 35 years experience in the gold mining
industry. After rising through the ranks over 25 years with the Anglo American
Gold Division to Mine Manager of Vaal Reefs and Western Holdings (Freegold),
Mr. Prinsloo in 1997 joined Randgold & Exploration, where he was instrumental
in the successful turnaround of operations at the Durban Deep Group of Mines.
In 1999, he was appointed CEO of Durban Deep Limited ("DRD"), and during his
tenancy, Durban Deep came out of closure to enjoy a tremendous growth in
production and profitability. In 2000, Mr. Prinsloo left DRD to join Gold
Fields Limited, where he held the position of Managing Director of Driefontein
Gold Mine and was subsequently appointed as Head of South African Operations
of Gold Fields from 2002 to 2006. Mike is currently the CEO of Gold Fields
Business & Leadership Academy. He has decided to return to a more production
and development-focused capacity with Banro, a role for which he is held in
high regard by the gold industry. Mr. Prinsloo holds a B.Sc. in Mining
Engineering from the University of Witwatersrand and is a Registered
Professional Engineer (PREng). He also completed the Advanced Management
Program (AMP) at the Harvard Business School.
    Banro's Chairman, Simon Village, said: "Given the excellent outcome of
the scoping studies at Twangiza and Namoya, Banro has appointed Mike to take
the Company forward from explorer to producer. Mike's credentials and track
record in the gold industry speak for themselves and we are delighted that he
is joining Banro as its new CEO. In addition, we are pleased that Peter Cowley
will remain President of Banro and concentrate his efforts on overseeing the
exploration on the Company's extensive landholdings on the Twangiza-Namoya
gold belt and undertaking a scoping study on the Company's wholly-owned
Lugushwa project. We believe that this two-pronged strategy will optimize the
value that has been created to date from this significant gold belt, as well
as strike the appropriate balance of exploration, development and ultimately
production, which we believe will lead to organic growth and the maximizing of
shareholder value."

    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 Democratic Republic of the Congo ("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 with respect to its
properties) 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

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