Banro Files NI 43-101 Technical Report on Twangiza Pre-Feasibility Study

    TORONTO, Aug. 18 /CNW/ - Banro Corporation ("Banro" or the "Company")
(AMEX - "BAA"; TSX - "BAA") is pleased to announce that following publication
on July 7, 2008 of the results of the Pre-Feasibility Study on its
wholly-owned Twangiza gold project, the Company has filed on SEDAR
( the accompanying technical report. The report is dated August
13, 2008 and entitled "Pre-Feasibility Study NI 43-101 Technical Report,
Twangiza Gold Project, South Kivu Province, Democratic Republic of Congo."
    The current exploration at Twangiza commenced in October 2005. A
preliminary assessment study of Twangiza was completed in July 2007. This
study was advanced to a Pre-Feasibility Study, the results of which were
released by the Company by way of a press release dated July 7, 2008. The
focus is now to further improve Twangiza's economics by expanding the resource
base, completing the infill drilling program by the end of October 2008, as
well as optimizing various aspects of the project, more specifically the
processing route, the engineering designs, as well as the hydro electric power
    "This will be done over the next 5 to 6 months as we progress all this
work through to a definitive Bankable Feasibility Study and move Twangiza
further along the development path and up the value curve," said Banro
President and CEO, Mike Prinsloo.
    The Pre-Feasibility Study has been prepared under the supervision of Neil
Senior, Joint Managing Director of SENET, and a "qualified person" as such
term is defined in National Instrument 43-101, with input from a number of
independent consultants including SRK Consulting, Cardiff (Mineral
Reserve/Resource), SRK Consulting, Johannesburg (Mining, Environmental and
Social), SGS Lakefield, Johannesburg (Metallurgical test work), Knight
Piésold, Vancouver (Power), AMEC, UK (Tailings Dam) and SENET, Johannesburg
(Processing and Infrastructure). SENET also undertook the Pre-Feasibility
economic valuation and report compilation.

    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 Democratic Republic of the Congo (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 Annual Report, 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 potential mineralization, potential mineral resources and
mineral reserves 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
or mineral reserves (the mineral resource and mineral reserve figures for
Twangiza 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 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 28, 2008 filed on SEDAR at 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: 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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