Buffalo Resources Corp.

Buffalo Resources Corp.

December 03, 2007 09:00 ET

Buffalo Resources Corp. Increases Private Placement

CALGARY, ALBERTA--(Marketwire - Dec. 3, 2007) - Buffalo Resources Corp. ("Buffalo") (TSX VENTURE:BFR) is pleased to announce that due to the high level of interest from potential investors for its private placement offering of flow-through common shares announced on November 29, 2007, Buffalo and the Underwriters have agreed to increase the size of the Underwriters' option to up to 1,136,364 flow-through common shares for total gross proceeds pursuant to the Underwriters' option of up to $1.5 million. If the Underwriters' option is exercised in full, Buffalo will issue an aggregate of 2,651,516 flow-through common shares for gross proceeds of $3.5 million. The private placement is being undertaken by a syndicate led by Acumen Capital Finance Partners Limited and including Research Capital Corporation and Evergreen Capital Partners Inc.

The private placement will be substantially at arm's length, although certain Officers and Directors of Buffalo may participate. The flow-through common shares issued pursuant to the private placement will be subject to a four-month hold period from the closing date of the private placement which is anticipated to take place on or about December 19, 2007. The transaction is subject to the receipt of all necessary regulatory and stock exchange approvals.

Proceeds from the private placement will be used to fund Buffalo's ongoing capital expenditure program.

Buffalo is an emerging Canadian junior oil and gas company engaged in the exploration, development and production of oil and gas reserves in the province of Alberta.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information