Buffalo Coal Corp.
(Registration number: 001891261)
(External company registration number: 2011/011661/10)
Share code on the TSX Venture Exchange: BUF
Share code on the JSE Limited: BUC ISIN: CA1194421014

    BUFFALO COAL CORP. ANNOUNCES RESULTS OF SPECIAL MEETING OF
           SHAREHOLDERS FOR GOING PRIVATE TRANSACTION

TORONTO, ONTARIO – Newsfile – April 17, 2023: Buffalo Coal Corp. (TSXV: BUF) (the
“Company”) is pleased to announce that the shareholders of the Company have approved the
special resolutions to commence the process of taking the Company private as set out in the
Company’s March 15, 2023 press release and information circular dated March 14, 2023 (the
“Circular”).

The effective date for the going private transaction will be April 20, 2023, or such other date as
the Company may advise by way of a further press release, and the common shares of the Company
will be delisted from trading on the TSX Venture Exchange (the “TSXV”) on April 21, 2023 and
on the Alternative Exchange managed by JSE Limited (the “JSE”) on April 28, 2023. Payment
for the post-consolidation fractional shares, other than those held by Belvedere Resources DMCC,
will be distributed to shareholders on the TSXV who have delivered letters of transmittal with any
accompanying documents required thereby by TSX Trust Company and to shareholders on the
JSE by Computershare Investor Services Proprietary Limited, in each case in accordance with the
process set out in the Circular.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of
the TSXV) accepts responsibility for the adequacy or accuracy of this release.

About Buffalo Coal

Buffalo is a coal producer in South Africa. It holds a majority interest in two operating mines
through its 100% interest in BCD, a South African company which has a 70% interest in Zinoju
Coal Proprietary Limited (“Zinoju”). Zinoju holds a 100% interest in the Magdalena bituminous
mine, the Aviemore East anthracite mine and the Balgray and North Adit anthracite projects in
South Africa. Buffalo Coal has an experienced coal-focused Board and Management team.

Forward-Looking Statements

This press release may contain forward looking information within the meaning of applicable
securities legislation, which reflects the Company’s current expectations regarding future events.
Forward looking information is based on a number of assumptions and is subject to a number of
risks and uncertainties, many of which are beyond the Company’s control, which could cause
actual results and events to differ materially from those that are disclosed in or implied by such
forward looking information. The Company does not undertake any obligation to update such
forward looking information, whether as a result of new information, future events or otherwise,
except as expressly required by applicable law.
FOR FURTHER INFORMATION PLEASE CONTACT:

Ms. Emma Oosthuizen
Chief Financial Officer
Tel: 27 342121455
Email: emma.oosthuizen@buffalocoal.co.za

Registered Office:
Greytown Road
Industrial Area, Dundee
KwaZulu-Natal, 3000

April 17, 2023

Designated Advisor: Questco Corporate Advisory Proprietary Limited