Buffalo Gold Drilling Extends North-Western Roscoelite Zone at Mt. Kare

Buffalo Gold Drilling Extends North-Western Roscoelite Zone at Mt. Kare

Buffalo Gold Ltd. is pleased to announce additional assay results from the diamond drilling program at the Mt. Kare Gold Project in Papua New Guinea. Specific highlights of the drill results include:

North-Western Roscoelite Zone

– 30.0 metres of 19.2 g/t gold in hole MK06-58 – Including 6.5 meters of 41.8 g/t gold

– 25.0 metres of 22.6 g/t gold in hole MK06-63

South-Western Roscoelite Zone

– 29.2 metres of 1.9 g/t gold in hole MK06-68 – And 24.5 metres of 2.5 g/t gold

– And 11.0 metres of 2.9 g/t gold

The results from four drill holes have been received since the last Buffalo press release (See Buffalo Release, August 28, 2006, “Buffalo Gold Continues to Hit Significant Mineralization at Mt. Kare”). Holes MK06-58 and MK06-63 are collared approximately 125m and 100m, respectively, into the North-Western Roscoelite zone. The results from holes MK06-58 and MK06-63 demonstrate a continued northern extension of high-grade mineralization in the North-Western Roscoelite Zone (NWRZ).

Holes MK06-39 and MK06-68 were drilled in the South-Western Roscoelite zone and intersected mineralization consistent with the known resource. Results for MK06-68 have only been received to 148 metres depth and ended in mineralization. Results from the remainder of the hole are pending. A fifth hole, MK06-62, was abandoned due to drilling conditions above the target mineralization.

“We are excited to see that as we move to the north we not only continue to see significant intersections of mineralization, but also see higher gold grades,” commented Buffalo Chairman and CEO, Damien Reynolds.

The Western Roscoelite Zone is open at depth and the north and northeast, and the ongoing drilling program has holes planned to explore both areas. Reinterpretation of existing IP data shows that the main IP anomalous zone, associated with mineralisation, is open to the south and southwest and at depth below 200m. A number of targets in the IP data, as well as numerous targets away from the main mineralized zones have been identified for drilling.

A summary of the geology and mineralization in these drill holes follows:

MK06-58 explored the down-dip extension of the high grade mineralization encountered in a hole previously drilled by Madison, MK99-73. From 78m to 104m, the hole intersected brecciated, strongly altered siltstones and intrusives hosting zones of semi-massive to locally massive pyrite-sphalerite and minor roscoelite mineralization (one of the common hosts of gold mineralization at Mt. Kare and Porgera).

MK06-63 tested the northern portion of the NWRZ between historical holes, specifically the well mineralized MK97-73 and the less robust MK97-69. The hole intersected a hanging wall succession of sandstones, siltstone breccias and intrusives to 98m. Below this depth, the main mineralized zone was encountered to 123m, comprising strongly altered intrusive and breccias hosting base metal veins, local semi-massive sulphides and thin quartz-carbonate-roscoelite veins.

MK06-39 was aimed to explore the easterly dip extension of the extensive mineralization encountered in MK06-38 (114.8m @ 4.03 g/t Au). The borehole intersected a succession of sandstones and mudstones with brecciated zones and minor intrusives to the contact with the brown mudstone footwall unit at 188m. Patchy, weak, base metal mineralization occurs from 140m to 185m.

MK06-62 was planned to test the easterly, down-dip extension of the well mineralized zone encountered in MK06-50 (49m @ 10.4 g/t Au). Heavy rains destabilized the drill platform, necessitating abandonment of the hole at 105m without achieving target depth.

MK06-68 was drilled in an attempt to help determine the nature and attitude of mineralization in the southern portion of the WRZ, targeting the well mineralized zones in historical hole MK99-146. The borehole intersected landslide material to 24m followed, to 62m, by a sequence of silstones and silicified intrusives hosting pyrite veining and, at 45m, a 1.3m silicified breccia with quartz-roscoelite.

True widths from the drill intersections have not yet been estimated. All samples were analysed for gold by PT Intertek Utama Services in Jakarta, part of an internationally recognized lab testing group with ISO 17025 accreditation at the Jakarta facility. Samples were analysed using a 50g fire assay with AA finish for gold and an aqua regia digestion, ICP-OES finish for silver.

Buffalo plans a conference call to update shareholders and interested parties on all of the activities of the companies. Details of the call will follow in a later release.

Mr. Brian McEwen, PGeol., President and COO, Buffalo Gold, is the qualified person for the Mt. Kare project and has approved the contents of this news release.

Buffalo Gold Ltd., head-quartered in Vancouver, Canada is actively engaged in exploring and developing gold, uranium and nickel properties in Australasia. Management is dedicated to maximizing shareholder value through growth strategies that emphasize careful opportunity assessment and vigilant project management.

To find out more about Buffalo Gold Ltd. (TSX VENTURE: BUF.U), please visit the company website at www.buffalogold.ca.

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