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