Buffalo Gold Receives Resource Estimate for Furtei Mine

Brian McEwen, President and CEO of Buffalo Gold Ltd. (TSX VENTURE: BUF)(OTCBB: BYBUF)(FRANKFURT: B4K) is pleased to announce the first NI 43-101 compliant resource estimate at the Furtei gold mine in Sardinia, Italy. The resource estimate includes Measured and Indicated sulphide resources of 425,800 ounces gold, including 5.73 million tonnes at 2.3 g/t gold, 0.24% copper and 3.06 g/t silver at a 1 g/t gold cut-off.

The resource estimate was completed by Wardrop Engineering Inc. in compliance with NI 43-101, and will be included in a Technical Report to be filed on SEDAR shortly. The resource estimate is based on 1,568 drill holes and 1,034 sample trenches that were completed during the period 1990 to 2004. The programs identified 11 distinct ore deposits on the property. Details of the resource estimate are contained in Table 2 below. The majority of the resource comes from the gold-copper and gold-pyrite sulphide mineralization. Buffalo recently announced an arrangement with MRI Trading AG ("MRI") of Zug, Switzerland for the sale of all sulphide concentrates produced for the life of the Furtei mine (see Buffalo Gold news release dated July 9th, 2008).

"We are pleased to have this completed as it forms the basis for the feasibility study we have undertaken," commented Mr. McEwen. "This estimate confirms our internal calculations of the current resources and we anticipate delineating additional resources as we explore on the property."

Buffalo, with help from Wardrop, has commenced a feasibility study at Furtei, expected to be completed by the fourth quarter of 2008. The study will incorporate this resource estimate, and include an updated mine plan as well as capital and operating costs of the project. As part of the feasibility work Buffalo is drilling holes for metallurgical testing of the ore bodies. The first of these holes drilled through the Su Coru ore body returned assay results of 74 metres of 7.07 g/t gold and 1.6% copper. This is significantly higher in grade than the average from the resource estimate at Su Coru of 3.77 g/t gold and 1.05% copper, and indicates a possible opportunity to increase resources at that deposit.


Table 1. Results of Metallurgical Drilling at Su Coru
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                 From (m)       To (m)  Interval (m)     Au (g/t)    Cu (%)
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CODM001               73          147            74         7.07       1.6
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Including             93           95             2        11.97       2.4
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And                  106          109             8        44.27       7.0
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And                  114          115             1        42.20       5.6
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And                  137          144             7        10.57       2.4
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Samples were analysed by four labs in Sardinia, Tuscany, France and Ireland. Samples were analysed using a 50g fire assay with AA finish for gold and an aqua regia digestion, ICP-OES finish for copper.

In addition to the feasibility study, Buffalo has an exploration drill program underway, as detailed in the news release of March 19th, 2008. Buffalo has so far completed 1,608 m of diamond and 651 m of RC drilling. First results are expected to be available in the next month.

Resource Estimate Methodologies

This resource estimate was completed by Wardrop Engineering Inc. in compliance with National Instrument 43-101 (NI 43-101), and is based on historic data at Furtei - no current drilling has been completed or incorporated in this resource estimate. Wardrop reviewed and updated the geological model for each of the deposits. A NI 43-101 compliant Technical Report is underway and will be posted on SEDAR upon completion.

The drillholes were coded based on the geological interpretation. A capping strategy was developed based on these selected drillholes to minimize the metal at risk. Wardrop capped assays before compositing. The composite length was 1.25 meters. A minimum of three composites were used for grade estimation along with a maximum of eight composites. A maximum of two composites were used from each drillhole.

Wardrop Engineering Inc. reported resources using a cut-off grade of 1.00 g/t Au. The grade interpolation was based on Inverse Distance Weighting Squared. Validation models were also completed using Inverse Distance Weighting Cubed and Nearest Neighbour interpolation methods. A bulk density of 2.00 g/cc was used for the Oxide resources and 2.48 g/cc for the Sulphide resources.

The classification was based on the drill spacing: Indicated Resources used a minimum of two drillholes with the nearest composite within 30 meters. The remaining blocks were classified as Inferred Resources. Inferred Resource blocks were also based on a minimum of two drillholes used for grade estimation.