Appointment of Chief Financial Officer 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" APPOINTMENT OF CHIEF FINANCIAL OFFICER TORONTO, ONTARIO – Marketwired – February 28, 2020: Further to previous communications around the selection of a successor to the Company’s Interim Chief Financial Officer (“Interim CFO”), the board of directors of Buffalo Coal (“the Board”) is pleased to announce the appointment of Mr Willie Bezuidenhout as Chief Financial Officer (“CFO”), with effect from 9 March 2020. Mr Bezuidenhout, a South African, is a chartered accountant and seasoned finance executive with a track record of capable financial leadership in mining companies. He previously held senior finance positions at Uranium One Inc. and the Public Investment Corporation. Mr Bezuidenhout will take over from Mr Graham du Preez, who acted as Buffalo Coal’s Interim CFO in prior years, and who again filled the role of Interim CFO from 26 August 2019 until 28 February 2020. The Board is confident that Buffalo Coal, under the leadership of Emma Oosthuizen (the current Interim Chief Executive Officer), Mr Bezuidenhout and the existing management team, will continue to focus on executing the Company's strategy. Mr Craig Wiggill, the Chairman, commented as follows: “We are pleased that Willie has joined Buffalo Coal and wish him success in his new role as CFO. On behalf of Buffalo’s Board of Directors and senior management team, I also thank Graham for his role as Interim CFO over the last six months." 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, 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 (“TSXV”) and has a secondary listing on the Alternative Exchange (“AltX”), operated by the JSE. Buffalo Coal trades under the symbol ‘BUF’ on the TSXV and ‘BUC’ on the AltX. For further information, please contact: Craig Wiggill Chairman of the Board Email: craig@wiggill.co.uk Registered office: First Floor, Building 1, Manhattan Office Park 16 Pieter Street Highveld, Centurion 28 February 2020 Designated Advisor: Questco Corporate Advisory Proprietary Limited Date: 28-02-2020 03:47:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.