BUFFALO COAL CORP - Corporate update change to Board of DirectorsRelease Date: 28/08/2015 15:30:00 Code(s): BUC
Buffalo Coal Corp.
(previously Forbes & Manhattan Coal Corp.)
(Registration number: 002116278)
(External company registration number: 2011/011661/10)
Share code on the Toronto Stock Exchange: BUF
Share code on the JSE Limited: BUC
(?Buffalo? or ?the Company)
Buffalo announces various changes to its Board of Directors (?the Board?).
Mr. John Dreyer and Mr. Michael Price have both tendered their resignations from the Board with effect
from September 1, 2015. The Board would like to thank Mr. Dreyer and Mr. Price for their valued
contributions to the Company over the past three years, and in particular their input into the extensive
restructuring initiatives which have been undertaken during the period of their tenure. We wish them
both success in their future endeavors.
The Company is pleased to announce the appointment of Mr. Eddie Scholtz and Mr. John Wallington to
the Board with effect from September 1, 2015.
Mr. Scholtz is a recently retired mining engineer, with 39 years experience in the coal industry, the
majority of which were spent with BHP Billiton Limited (?BHP?). He held General Manager positions on
BHP?s largest mines and was ultimately appointed as Managing Director of BHP's coal mining operations
in South Africa, where he managed 85 million tons per annum of coal production, setting record
performances in production, productivity, safety and profitability. After spending 37 years at BHP, Mr.
Scholtz joined CIC Energy Corp., from which he retired in 2012. Mr. Scholtz was born and raised in
Dundee, South Africa, where Buffalo?s mines are situated.
Mr. Wallington is a high calibre mining executive with over 31 years experience in coal mining and
exploration, and a proven track record of delivering results and transformation. He was formerly the
Chief Executive Officer of Coal of Africa Limited and prior to that Anglo American plc?s coal division, and
has held Board positions with Firestone Energy Limited and Keaton Energy Holdings Limited. Mr
Wallington holds a Bachelor of Science degree in Mining Engineering from the University of
Witwatersrand, South Africa, and has participated in executive programs with London Business School
and Harvard Business School.
Buffalo welcomes Mr. Scholtz and Mr. Wallington to its Board, and looks forward to a long and
successful relationship with both directors.
Buffalo is a coal producer in southern Africa. It holds a majority interest in two operating mines through
its 100% interest in Buffalo Coal Dundee (Pty) Ltd, a South African company which has a 70% interest in
Zinoju Coal (Pty) Ltd (?Zinoju?). Zinoju holds a 100% interest in the Magdalena bituminous mine and the
Aviemore anthracite mine in South Africa. Buffalo has an experienced coal-focused management team.
This press release contains ?forward-looking information? within the meaning of applicable Canadian
securities legislation. Forward-looking information includes, but is not limited to, statements with
respect to the future financial or operating performance of Buffalo and its projects. Generally, forward-
looking information can be identified by the use of forward-looking terminology such as ?plans?,
?expects? or ?does not expect?, ?is expected?, ?budget?, ?scheduled?, ?estimates?, ?forecasts?,
?intends?, ?anticipates? or ?does not anticipate?, or ?believes?, or variations of such words and phrases
or state that certain actions, events or results ?may?, ?could?, ?would?, ?might? or ?will be taken?,
?occur? or ?be achieved?. Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of activity, performance or
achievements of Buffalo to be materially different from those expressed or implied by such forward-
looking information, including but not limited to: general business, economic, competitive, foreign
operations, political and social uncertainties; a history of operating losses; delay or failure to receive
board or regulatory approvals; timing and availability of external financing on acceptable terms; not
realizing on the potential benefits of the proposed transaction; conclusions of economic evaluations;
changes in project parameters as plans continue to be refined; future prices of mineral products; failure
of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of
the mining industry; and, delays in obtaining governmental approvals or required financing or in the
completion of activities. Although Buffalo has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking information, there may be
other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking information. Buffalo does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Craig Wiggill Malcolm Campbell
Chairman Chief Executive Officer
+44 7764 642 100 +27 82 924 4444
Email: email@example.com Email: firstname.lastname@example.org
28 August 2015
Questco Proprietary Limited
Date: 28/08/2015 03:30:00 Supplied by www.sharenet.co.za
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