Buffalo Resources Completes Killam Sale

CALGARY, ALBERTA--(Marketwire - July 2, 2008) - Buffalo Resources Corp. ("Buffalo")(TSX VENTURE:BFR) is pleased to announce that it has completed the sale of its Killam oil property in East Central Alberta as announced by way of press release on June 23, 2008. The sale proceeds were $21.75 million plus a 5% non convertible overriding royalty on 50% of the production of certain natural gas rights.

This transaction allows Buffalo to focus capital expenditures on its core producing properties at Frog Lake and Pincher Creek and strengthens the balance sheet by reducing net debt to less than one year's cash flow.

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

Certain information set forth in this press release contains forward looking statements. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, reliance should not be placed on forward-looking statements. Buffalo's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Buffalo will derive therefrom. Buffalo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Jason Krueger, CFA
Redwood Capital Corporation
Telephone: (403) 374-1234
Email: jason@redwood-capital.com
Web: www.redwood-capital.com

The information transmitted is privileged, confidential and may be subject to copyright and is intended solely for the use of the individual or entity to which the transmission is addressed. This transmission is provided for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction. Any unauthorized use, distribution, review or disclosure is prohibited. If you received this in error, please notify the sender and delete or destroy this message and any copies. If you wish to have your email address removed from Redwood Capital�s distribution list please reply to this email with the word �remove� in the subject heading.

Buffalo Resources Corp.

	PRODUCTEUR
	CODE : BFR.V

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Buffalo Resources est une société d’exploration minière basée au Canada.

Buffalo Resources est productrice de gaz et de pétrole au Canada, et détient divers projets d'exploration au Canada.

Son principal projet en production est PINCHER CREEK au Canada et ses principaux projets en exploration sont PEACE RIVER ARCH, FROG LAKE et VIKING KILLAM au Canada.

Buffalo Resources est cotée au Canada. Sa capitalisation boursière aujourd'hui est 49,9 millions CA$ (49,6 millions US$, 33,3 millions €).

La valeur de son action a atteint son plus haut niveau récent le 13 juin 2008 à 1,54 CA$, et son plus bas niveau récent le 27 février 2009 à 0,21 CA$.

Buffalo Resources possède 76 702 000 actions en circulation.

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