BUFFALO COAL CORP - Withdrawal of cautionary announcement

Withdrawal of cautionary announcement

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 “the Company”)



WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

Further to the cautionary announcements issued between June and October 2016, the latest of which
was dated 11 October 2016, Buffalo Coal advises shareholders that the review by Resource Capital Fund
V L.P. of its strategic options in respect of its investment in the Company has been terminated.

Accordingly, shareholders are hereby advised that caution is no longer required when dealing in the
Company’s securities.

About Buffalo

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, 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 has an experienced coal-focused management team.

Neither the Toronto 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:

Rowan Karstel                                            Graham du Preez
Chief Executive Officer                                  Chief Financial Officer
Email: rowan.karstel@buffalocoal.co.za                   Email: graham.dupreez@buffalocoal.co.za

22 November 2016
Designated Advisor: Questco (Pty) Ltd

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