24TH Floor - 1111 W. Georgia St.
Vancouver, BC, Canada V6E 4M3
Phone: 604.685.5492 Fax: 604.685.2536
www.buffalogold.ca
April 26, 2007
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Trading Symbol: TSXV – BUF.U
OTC\BB – BYBUF
FWB
– B4K
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BUFFALO GOLD TERMINATES
LOI TO ACQUIRE DYNASTY GOLD CORP.
Vancouver, B.C., April 26, 2007
– Buffalo Gold Ltd. (TSX-V: BUF.U; OTC-BB: BYBUF; FWB: B4K) announces
that it has terminated a Letter of Intent to enter into a friendly merger with
Dynasty Gold Corp (TSX-V: DYG; FWB: D5G). (See
Buffalo Gold
News Release, March 13, 2007.)
Under the agreement, Buffalo would have acquired all of the outstanding
securities of Dynasty in exchange for common shares and common share purchase
warrants and options of Buffalo
(the “Transaction”). Dynasty is a Vancouver-based publicly traded
gold exploration company with three highly prospective projects in Northwest China.
Upon completion of the initial due
diligence, Buffalo’s
Board of Directors has determined that the acquisition of Dynasty does not fulfil
the Company’s objective of becoming a near term gold producer.
Damien
Reynolds, Chairman of Buffalo commented, “ Dynasty has great exploration projects and land
positions in very prospective mineral belts in China, however in our opinion
delineating reserves and bringing the projects to production requires a bigger
time commitment than fits our current strategy. These projects are better
suited to the large partners Dynasty already has in Anglo Gold Ashanti and
Avocet Mining. Buffalo’s
strategy remains to be aggressive on the acquisition front but to focus on more
advanced projects.”
Completion of the Transaction was
subject to satisfaction of a number of conditions, including, but not limited
to, completion of due diligence and the receipt of all required approvals,
including approval of the Toronto Stock Exchange, the TSX Venture Exchange, and
of the shareholders of Dynasty
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 uses 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.