Buffalo Resources Announces M&A Committee to Review Strategic Alternatives

Buffalo Resources Corp. ("Buffalo" or the "Company") (TSX VENTURE:BFR) announced
today that its Board has appointed an M&A Committee of independent directors
with a mandate to consider strategic alternatives for the Company. Mr. Richard
A. Shaw, Q.C. and Mr. Murray Sinclair are Co-Chairmen of the Committee. The
other members of the Committee are Mr. Michael Winn and Mr. Gregory Moore.


Buffalo believes the trading price of its common shares does not reflect the
underlying value of its assets and drilling opportunities. As a result, the
Board of Directors of the Company has determined that the current economic
environment provides an opportunity to review strategic alternatives for the
benefit of all shareholders. These alternatives may include a sale, merger or
other business combination involving Buffalo or the sale of some or all of the
assets of the Company.


Buffalo has retained Cormark Securities Inc. to act as financial advisor to
assist the M&A Committee in its mandate.


For further information relating to the strategic alternatives process, please
contact:




Cormark Securities Inc.

Ryan Shay
Managing Director, Investment Banking
[phone]
[e-mail]

Chris Burchell
Vice President, Investment Banking
[phone]
[e-mail]



Buffalo is a Canadian junior oil and gas company engaged in the exploration for,
and development and production of oil and gas reserves in the provinces of
Alberta and Saskatchewan.


Certain statements contained in this press release constitute forward looking
statements or forward-looking information under applicable securities
legislation. Such forward-looking statements or information are provided for the
purpose of providing information about management's current expectations and
plans relating to the future. Readers are cautioned that reliance on such
information may not be appropriate for other purposes, such as making investment
decisions. Forward-looking statements or information typically contain
statements with words such as "anticipate", "believe", "expect", "plan",
"intend", "estimate", "propose", "project", "seek", "continue", "forecast",
"may", "will", "potential", "could", "should" or similar words suggesting future
outcomes or statements regarding an outlook. All forward looking statements are
based on the Company's beliefs and assumptions based on information available at
the time the assumption was made. Forward-looking statements or information are
based on a number of factors and assumptions that have been used to develop such
statements and information but which may prove to be incorrect. Although the
Company believes that the expectations reflected in such forward-looking
statements or information are reasonable, undue reliance should not be placed on
forward-looking statements because the Company can give no assurance that such
expectations will prove to be correct. In addition, forward-looking statements
or information are based on current expectations, estimates and projections that
involve a number of risks and uncertainties which could cause actual results to
differ materially from those anticipated by the Company and described in the
forward-looking statements or information. These risks and uncertainties which
may cause actual results to differ materially from the forward-looking
statements or information. The forward-looking statements contained in this
press release are made as of the date hereof and Buffalo undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.