Pinecrest to Increase Financing

   Pinecrest Resources Ltd. ("Pinecrest" or the "Company") (TSX VENTURE: PCR), a capital pool company, announces an increase of its previously announced non-brokered private placement (February 28, 2011). The non-brokered private placement will be increased from 2,500,000 units (the "Units") to 3,500,000 Units at a purchase price of $0.22 per Unit. Each Unit will consist of one common share and one transferable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire an additional common share of Pinecrest at an exercise price of $0.30 per common share.

ON BEHALF OF THE BOARD

Edward Farrauto, Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Pinecrest Resources Ltd. Edward Farrauto Chief Executive Officer 604-687-3992 604-628-1011 (FAX) [e-mail]