Buffalo Gold Sells Concentrate for Life of Furtei Mine
09 Juillet 2008 - 3:15PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (OTCBB: BYBUF)(FRANKFURT: B4K), is
pleased to report that Buffalo is extending its concentrate sales
agreement with MRI Trading AG ("MRI") of Zug, Switzerland to
include all concentrates for the life of the Furtei Mine in
Sardinia.
As previously reported in Buffalo News Releases of February
13th, 2008 and April 21st, 2008, Buffalo had entered into
agreements to sell concentrates from Furtei to MRI, including up to
5000 tonnes of gold-pyrite and gold-copper concentrates this year
and up to 14,500 tonnes of gold-copper concentrates in 2009. The
new agreement includes even more favourable terms than the previous
ones, and includes the sale of all concentrates produced over the
life of the mine.
Buffalo has recently made its first shipment of gold-copper
concentrate. These concentrates grade 90-100 g/t Au and 10-18% Cu,
significantly higher than the 12-18 g/t Au gold-pyrite concentrates
produced and sold to this point. Gold-pyrite concentrates were
produced from the Sa Perrima and Su Masoni open pits this year.
More recently, Buffalo has worked the lower portion of the Su
Masoni pit to produce the enargite-rich ore for the gold-copper
concentrate.
"The high-grade enargite ore at Furtei is, by nature, high in
sulphide and arsenic levels, making the concentrate a difficult
product to market even with the high gold and copper levels,"
reports Mr. Mcewen. "We are therefore very pleased to have started
mining and selling this material, and to have extended our
relationship with MRI to include the sale of all concentrates over
the life of the mine. We look forward to the increased revenue
stream that this recent shipment and futures ones will bring to
fuel our growth as a mining company."
About MRI Trading AG
MRI Trading AG is a trader of concentrates and other non-ferrous
raw materials. It is part of the MRI group of companies, a leading
investment and trading group in the commodities arena. The group
has a global presence through its offices in Shanghai, Beijing,
Johannesburg, Santiago de Chile, Lubumbashi, New Delhi and
Brisbane.
About Buffalo Gold
Buffalo's vision is to build shareholder value by growing a gold
mining company through a combination of exploration and
acquisition. The Company became a gold producer in November 2007
with the acquisition of the Furtei mine, and is exploring projects
in Sardinia, PNG and Australia.
To find out more about Buffalo Gold Ltd. (TSX VENTURE: BUF),
please visit the company website at www.buffalogold.ca.
Brian McEwen is the Qualified Person for Buffalo and has read
and approved the contents of this news release.
On behalf of the Board of Directors of BUFFALO GOLD LTD.
Brian McEwen, President and CEO
This press release contains certain Forward-Looking Statements,
which are based on the opinions and estimates of management at the
date the statements are made, and are subject to a variety of risks
and uncertainties and other factors that could cause actual events
or results to differ materially from those projected. Buffalo
undertakes no obligation to update Forward-Looking Statements if
circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on
Forward-Looking Statements.
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission ("SEC")
permits mining companies, in their filing with the SEC, to disclose
only those mineral deposits that a company can economically and
legally extract or produce. We use certain terms in this website,
such as "Mineral Resources", "Measured", "Indicated", and "Inferred
Resources", that the SEC guidelines prohibit us from including in
our filing with the SEC. investors are urged to consider closely
the disclosure in our form 20-F, file no. 0-30150, available from
us by contacting the Investor Relations department.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the accuracy of this press release.
Contacts: Buffalo Gold Ltd. Julie Hajduk Investor Relations
(604) 685-5492 or Toll Free: 1-888-685-5492 (604) 685-2536 (FAX)
Email: julie@buffalogold.ca Website: www.buffalogold.ca
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