Buffalo Coal Corporation (JSE:BUC) News - Appointment of non-executive director

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" or “Buffalo” or “the Group” or "the Company" or “the Issuer”)

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

August 5, 2022: Buffalo Coal announces that, further to the transaction between Resource Capital Fund
V L.P. (“RCF V”) and Belvedere Resources DMCC (“Belvedere”) for the transfer of ownership of RCF V's
securities holdings in the Company previously announced in the press release of the Company dated as
of June 15, 2022, the board of directors of the Company (the “Board”) is pleased to confirm the
appointment of Mr Alok Joshi as non-executive Board member with effect as of August 4, 2022.

Mr Joshi has more than two decades’ global leadership experience, built over mining and manufacturing
industry segments and geographically spread across Africa, South-East Asia, Western Europe, Australia
and the Middle East. Mr Joshi specialises in cross-border mergers and acquisitions and will continue in his
current role as Director Finance of Belvedere, based out of Dubai, UAE where he leads Belvedere’s
strategic growth and investment initiatives.

He played a pivotal role in the financial restructuring of Ikwezi Mining Limited, a South African based coal
mining and processing company listed on the Australian Stock Exchange, as its director from 2015 to 2020,
and has a strong understanding of the South African and global coal markets. Mr Joshi also led Cemza
(Pty) Ltd as its CEO, steering the greenfield venture to become a leading South African cement brand. He
graduated from Sydenham College, Mumbai, articled with KPMG in India and is a Chartered Accountant
(India).

Craig Wiggill, the chairman of the Board, commented as follows: “We are pleased that Alok will be joining
the Buffalo Coal Board as a representative of Belvedere Resources DMCC. Both our Board and
management team look forward to working with him in furtherance of our Company’s goals."


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 Buffalo Coal Dundee Proprietary Limited, 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 management team.

The Company has its primary listing on the TSX Venture Exchange and has a secondary listing on the
Alternative Exchange, operated by the JSE Limited.


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.

Neither the TSX Venture Exchange, nor its regulation services provider (as that term is defined in the
policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.



FOR FURTHER INFORMATION PLEASE CONTACT:

Mr Craig Wiggill
Chairman of the Board
Email: info@buffalocoal.co.za

Registered office:
Greytown Road
Industrial Area
Dundee
KwaZulu-Natal
3000

5 August 2022

Designated advisor:
Questco Corporate Advisory Proprietary Limited

Date: 05-08-2022 02:41:00
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