Pinetree Capital Ltd. Announces Appointment of New Director

Pinetree Capital Ltd. (TSX:PNP) is pleased to announce the appointment of Roger
Rai to its board of directors.


Mr. Rai is currently the Vice President, Business Development, Keek Inc. (TSX
VENTURE:KEK). He was also the Director of Development at C.O.R.E. Feature
Animation who produced the children's animation movie "The Wild." Previously Mr.
Rai was the founder and VP, Business Development of Fastvibe Inc., a web casting
company that provides rapid transmission of client content worldwide via the
internet. Mr. Rai also held various managerial positions at Rogers Cablesystems
and Rogers Wireless, Canada's largest Communications company. He is currently an
advisor to Chobani, Inc., a retail food services company, and is the founder and
on the board of the ONEXONE foundation, a charitable organization focussed on
global child welfare. Mr. Rai holds a Bachelor of Arts from the University of
Western Ontario. 


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