Pinetree Capital Announces Share Issuances

Pinetree Capital Ltd. (TSX:PNP) announces that it has issued an aggregate of
6,666,667 common shares as consideration for a $3 million investment in
securities of Kerr Mines Inc. completed today. Together with common shares
issued by Pinetree as consideration for a $1 million investment in securities of
Latin American Minerals Inc., which was completed earlier this month, the
company has issued an aggregate of 8,666,667 common shares in exchange for
investments in July, at an average price of $0.46 per share, representing
approximately 4.5% of the total number of common shares of the company
outstanding prior to the investments. Both transactions were made in the normal
course of Pinetree's investing activities.


About Pinetree

Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the
Province of Ontario and its shares are publicly-traded on the Toronto Stock
Exchange ("TSX") under the symbol "PNP". Pinetree is a diversified investment
and merchant banking firm focused on the small cap market. Pinetree's
investments are primarily in the following sectors: Precious Metals, Uranium and
Technology. Pinetree's investment approach is to develop a macro view of a
sector, build a position consistent with the view by identifying micro-cap
opportunities within that sector, and devise an exit strategy designed to
maximize our relative return in light of changing fundamentals and
opportunities. Pinetree is recognized as a value added partner.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pinetree Capital Ltd.
Sheldon Inwentash, CPA, CA.
Chairman & CEO


Pinetree Capital Ltd.
Gerry Feldman, CPA, CA.
CFO & Vice President, Corporate Development
416-643-3884
[e-mail]


Investor Relations:
Pinetree Capital Ltd.
Richard Patricio, LL.B.
Vice President, Legal and Corporate Affairs
416-941-9600
[e-mail] / www.pinetreecapital.com