Buffalo Closes First Tranche of Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 12/10/07 -- Further to its news release of December 4, 2007, Buffalo Gold Ltd. (TSX VENTURE: BUF)(OTCBB: BYBUF)(FRANKFURT: B4K) is pleased to report that it has closed the first tranche of the non-brokered private placement of 18,888,890 units. Pursuant to the first closing, Buffalo issued 8,670,000 units to generate gross proceeds of $3,900,000. Each unit consists of one share and one half share purchase warrant, every whole warrant entitling the purchase of one additional share of Buffalo at $0.75 per share until December 6, 2009. All securities issued pursuing to this closing are subject to a four-month hold period expiring April 6, 2008. Buffalo also reports that it has, subject to regulatory approval, granted incentive stock options entitling the purchase of up to 500,000 shares at a price of $0.53 per share until December 10, 2012. Buffalo has also cancelled stock options entitling the purchase of 500,000 until September 25, 2011. To find out more about Buffalo Gold Ltd. (TSX VENTURE: BUF), please visit the company website at www.buffalogold.ca. On behalf of the Board of Directors of BUFFALO GOLD LTD. Brian McEwen, President FORWARD-LOOKING STATEMENTS STATEMENTS INCLUDED HERE, WHICH ARE NOT HISTORICAL IN NATURE, ARE FORWARD-LOOKING STATEMENTS MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995, INCLUDING WITHOUT LIMITATION, STATEMENTS AS TO MANAGEMENT'S BELIEFS, STRATEGIES, PLANS, EXPECTATIONS OR OPINIONS IN CONNECTION WITH THE COMPANY'S PERFORMANCE, WHICH ARE BASED ON A NUMBER OF ASSUMPTIONS CONCERNING FUTURE CONDITIONS THAT MAY ULTIMATELY PROVE TO BE INACCURATE AND MAY DIFFER MATERIALLY FROM ACTUAL FUTURE EVENTS OR RESULTS. READERS ARE REFERRED TO THE DOCUMENTS FILED BY THE COMPANY WITH THE PERTINENT SECURITY EXCHANGE COMMISSIONS, SPECIFICALLY THE MOST RECENT QUARTERLY REPORTS, ANNUAL REPORT AND MATERIAL CHANGE REPORTS, EACH AS IT MAY BE AMENDED FROM TIME TO TIME, WHICH IDENTIFY IMPORTANT RISK FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy of this press release. Contacts: Buffalo Gold Ltd. Julie Hajduk Investor Relations (604) 685-5492 or Toll Free: 1-888-685-5492 Email: julie@buffalogold.ca Website: www.buffalogold.ca