Buffalo Coal Corporation (JSE:BUC) News - Granting of Water Use License for the Balgray project

Buffalo Coal Corp.
Incorporated in Canada and the Republic of South Africa
(Registration number: 2011/011661/10)
Share code TSX Venture Exchange: BUF
Share code JSE Limited: BUC
ISIN: CA1194421014

(“Buffalo Coal Corp.” or “Buffalo” or “the Group” or “the Company”)

GRANTING OF WATER USE LICENSE FOR THE BALGRAY PROJECT

TORONTO, ONTARIO – Marketwired – February 15, 2022: Buffalo Coal Corp. announces that the
Republic of South Africa’s (“South Africa”) Department of Water and Sanitation (“DWS”) granted an
official Water Use License, valid for 15 years, to Zinoju Coal Proprietary Limited (“Zinoju”) on the 13th of
February 2022 for the Balgray project (“Balgray”). The Water Use License has been granted in terms of
the National Water Act (No. 36 of 1998) (the “Act”).

Appeals may be lodged against the DWS’s decision in terms of the Act’s applicable regulations within 30
days from the date of notification of interested and affected parties.

“Following the granting of this Water Use License the Company has now secured all of the regulatory
authorisations required for the development of Balgray. The Company is currently engaging various
parties to secure the required funding for the construction of Balgray.

Balgray is the highest priority project in Buffalo Coal’s current project pipeline and will extend the
Company’s anthracite operations by approximately 7 years.”, commented Emma Oosthuizen, the
Company’s Chief Executive Officer.


About Buffalo

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, a South African company which has a 70% interest in Zinoju.
Zinoju holds a 100% interest in the Magdalena bituminous mine and the Aviemore anthracite mine 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.

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:

Ms Emma Oosthuizen
Chief Executive Officer
Email: Emma.Oosthuizen@buffalocoal.co.za


15 February 2022

Designated Advisor:
Questco Corporate Advisory Proprietary Limited

Date: 15-02-2022 05:01:00
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