Buffalo Resources Corp.
TSX VENTURE : BFR

Buffalo Resources Corp.

November 29, 2007 09:00 ET

Buffalo Resources Corp. Announces Private Placement

CALGARY, ALBERTA--(Marketwire - Nov. 29, 2007) - Buffalo Resources Corp. ("Buffalo") (TSX VENTURE:BFR) is pleased to announce that it has entered into a bought-deal financing agreement with a syndicate led by Acumen Capital Finance Partners Limited and including Research Capital Corporation and Evergreen Capital Partners Inc. (collectively the "Underwriters"), to complete a private placement of 1,515,152 "flow-through" common shares at a price of $1.32 per share for gross proceeds of approximately $2 million. The financing agreement also grants the Underwriters an option to purchase an additional 757,576 flow-through common shares for additional gross proceeds of $1 million, the option being exercisable at any time prior to the closing of the private placement.

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.

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