VANCOUVER, BRITISH COLUMBIA--(Marketwire - December 04, 2007) - Buffalo Gold Ltd. (TSX VENTURE: BUF)(OTCBB: BYBUF)(FRANKFURT: B4K) is pleased to report that it has arranged a non-brokered private placement of 18,888,890 units at a price of $0.45 per unit to generate gross proceeds of $8,500,000 that will be used to fund its ongoing exploration work and for working capital. Each unit will consist of one share and one half share purchase warrant, every whole warrant entitling the purchase of one additional share of Buffalo $0.75 per share for a period of two years from the closing date.

A finder's fee and broker's warrants will be payable in respect of a portion of the placement. This placement is subject to regulatory approval.

Buffalo also reports that it has, subject to regulatory approval, granted incentive stock options entitling the purchase of up to 3,350,000 shares at a price of $0.53 per share until December 4, 2012.

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

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
(604) 685-2536 (FAX)
Email: julie@buffalogold.ca
Website: www.buffalogold.ca