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24TH
Floor - 1111 W. Georgia St.
Vancouver, BC,
Canada V6E 4M3
Phone: 604.685.5492
Fax:
604.685.2536
www.buffalogold.ca
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Trading Symbol: TSXV – BUF.U
OTC\BB –
BYBUF
FWB – B4K
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BUFFALO GOLD REPORTS
ADDITIONAL GOLD INTERSECTIONS AT MT. KARE
Applies
for Further Exploration Licenses
Vancouver, B.C., May 1, 2007
– Buffalo Gold Ltd. (TSX-V: BUF.U; OTC-BB: BYBUF; FWB: B4K) is pleased to report assay results from its drill
program at the Mt.
Kare gold project,
including:
·
22.5 metres of 3.34 g/t gold in hole
MK07-92
§
Including 13.9 metres of 4.95 g/t
gold
·
27.5 metres of 5.40 g/t gold in hole
MK07-97
§
Including 11.0 metres of 12.73 g/t
gold
·
6.0 metres of 55.95 g/t gold in hole
MK07-103
§
Including 1.5 metres of 222 g/t gold
So far this year Buffalo
has drilled 4711 metres in nineteen holes, as part of the $11.4 million on-going
exploration program at Mt.
Kare to test objectives
both in the vicinity of known mineralization and at existing targets. Significant
results received to date are summarized below in Table 1.
Hole MK07-90 targeted an untested
area of the Southern Western Roscoelite Zone (SWRZ) and intersected 1.59 g/t
gold reported over 74 metres including 28 metres of 2.53 g/t gold starting at a
depth of 88 metres. On the eastern flank of the SWRZ, holes MK07-91
and MK07-97 encountered mainly patchy mineralization near surface but significant
intersections of gold occurred at depth, most notably 27.5 metres of 5.40 g/t
gold including 11 metres of 12.73 g/t gold, starting at 219 metres depth.
MK07-96 also tested the eastern flank of the SWRZ and intersected
significant mineralization below 123 m, including 33.0 metres of 1.76 g/t
gold. This hole was abandoned at 208 metres due to problems with the
drill. Hole MK07-99 was an infill hole drilled in the southern
portion of the SWRZ. Mineralization was encountered in this hole,
including 17.2 metres of 0.95 g/t gold.
MK06-92 is an infill hole in the
southern Central Zone that intersected 22.5 metres of 3.34 g/t gold at a
starting depth of just over 200 metres. The hole was stopped prematurely
due to problems with the drill rig. MK07-95 lies to the east and was
drilled to test the eastern extension of historical hole MK00-239.
Additional infill drilling in the
Northern Western Roscoelite Zone (NWRZ) included holes MK07-93, aimed at the
down-dip extension of the NWRZ, and MK07-94 that intersected 53.9 metres of
1.20 g/t gold at a shallow depth of 54 metres. The eastern
extension of the NWRZ was tested in hole MK07-98, down-dip from MK06-73. Mineralization
was encountered at depth, including 17 metres of 1.19 g/t gold at 237 metres.
Hole MK07-100 was drilled to test for a possible northern extension of the NWRZ
at depth but no significant intersections were returned.
A possible down-plunge extension of
the Black Zone towards the C9 Zone was tested in hole MK07-101.
Below 170 metres the hole intersected a sequence of strongly mineralized zones
of brecciated intrusive and sandstone hosted semi massive to massive pyrite
veining/disseminations, rare chalcopyrite-sphalerite-galena and antimony
sulphide veins and fractures. Analysis of the hole returned 81
metres of 1.26 g/t gold and 4.68 g/t silver including 10 metres of 4.85 g/t
gold and 21.12 g/t silver. Hole MK07-102 was testing the same area
and encountered very high grade gold at approximately 100 metres depth,
returning a 6 metre intersection of 55.95 g/t gold and 105.68 g/t silver,
including 1.5 metres of 222.0 g/t gold and 385 g/t silver.
Table
1. Summary of Mt. Kare Drill Hole Intersections Received
from
January 12th 2007 to April 18th 2007
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Drill Hole No.
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From
(m)
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To
(m)
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Intercept
(m)
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Gold
(g/t)
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Silver
(g/t)
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MK07-90
Including
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88.0
88.0
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162.0
116.0
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74.0
28.0
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1.59
2.53
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11.52
15.58
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MK07-91
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1.7
278.0
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5.0
283.0
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3.3
5.0
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2.41
5.40
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13.87
138.08
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MK07-92
Including
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205.4
214.0
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227.9
227.9
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22.5
13.9
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3.34
4.95
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5.06
6.83
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MK07-93
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190.0
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204.0
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14.0
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0.71
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4.26
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MK07-94
Including
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54.3
65.1
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108.1
73.5
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53.8
8.4
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1.20
4.44
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39.25
32.66
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MK07-95
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145.0
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153.0
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8.0
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0.69
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17.60
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MK07-96
Including
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128.0
130.0
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161.0
136.0
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33.0
6.0
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1.76
3.35
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10.31
10.87
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Table
1. Continued
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Drill Hole No.
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From
(m)
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To
(m)
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Intercept
(m)
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Gold
(g/t)
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Silver
(g/t)
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MK07-97
Including
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22.0
130.0
219.0
225.0
228.7
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28.0
133.0
246.5
236.0
231.7
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6.0
3.0
27.5
11.0
3.0
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2.06
2.82
5.40
12.73
43.78
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15.63
40.80
31.59
72.42
56.17
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MK07-98
Including
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237.0
245.0
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254.0
254.0
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17.0
9.0
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1.19
1.46
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4.79
4.28
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MK07-99
Including
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143.0
170.8
177.0
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144.0
188.0
181.0
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1.0
17.2
4.0
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5.63
0.95
2.29
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64.90
13.43
35.08
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MK07-100
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No
significant intersections
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MK07-101
Including
Including
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165.0
219.0
234.0
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246.0
244.0
244.0
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81.0
25.0
10.0
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1.26
2.37
4.85
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4.68
9.46
21.12
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MK07-102
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99.5
102.5
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105.5
104.0
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6.0
1.5
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55.95
222.0
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105.68
385.0
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MK07-103
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No
significant intersections
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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.
“We continue to be encouraged by the results at Mt. Kare,”
commented Buffalo
Chairman and CEO Damien Reynolds.
“Based on results of our recent
aeromagnetic survey and drilling we have applied for additional exploration
licenses in the area.”
Mr. Brian
McEwen, P.Geol., President and COO of Buffalo 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-V: BUF.U), please visit the company website at www.buffalogold.ca.
On behalf of the
Board of Directors of
BUFFALO GOLD LTD.
“Damien Reynolds”
Damien Reynolds,
Chair of the Board
of Directors
and Chief Executive
Officer
For further information please contact:
Julie Hajduk, Investor Relations
E-mail: julie@buffalogold.ca
Phone: 604.685.5492 or T.F. 1.888.685.5492
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT
ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS PRESS RELEASE
Cautionary
Note to U.S. Investors – The United States Securities and Exchange
Commission (“SEC”) permits mining companies in filings with the SEC
to disclose only those mineral deposits that a company can economically and
legally extract or produce. The Company MAY use certain terms in this news
release, such as “inferred resource”, that the SEC guidelines
strictly prohibit from including in filings with the SEC. U.S. investors are
urged to consider closely the disclosure contained in the Company’s Form
20-F Registration Statement, File No. 000- 30150. The Company’s filings
are available on the SEC’s website at http://www.sec.gov/edgar.shtml.
Julie
Hajduk
24th
Floor, 1111 W. Georgia St.,
Vancouver, BC V6E
4M3
604.685.5492