Investors

Pinetree Capital Ltd. Announces Appointment Of New Directors

TORONTO, Ontario – Pinetree Capital Ltd. (“Pinetree” or the “Company”) (TSX: PNP) is pleased to announce the appointment of Andrew Fleming and Marshall Auerback to its board of directors.  Mr. Fleming and Mr. Auerback were elected to the board, along with the incumbent members, at Pinetree’s annual and special meeting of shareholders held on April 26, 2007.

Andrew Fleming is a senior partner at the law firm Ogilvy Renault LLP.  With over 30 years of experience in corporate, commercial, securities and banking law, Mr. Fleming has provided legal and business solutions to clients in the financial services, natural resource and telecommunications sectors, among others, in respect of corporate finance, project finance, mergers and acquisitions, regulatory and governance matters.  He has served on numerous industry and government committees dealing with securities and corporate law matters in Canada, including as a past member of the Continuous Disclosure Reform Committee of the Quebec Securities Commission, the Policy Advisory Committee of the Ontario Securities Commission, the Committee on Corporate Disclosure of the Toronto Stock Exchange and the Continuous Disclosure Advisory Committee of the Ontario Securities Commission.

Mr. Fleming is listed in The Best Lawyers in Canada 2006 in the Corporate (Finance) category and is recommended in Corporate M/A in Chambers Global Guide to the World’s Leading Lawyers, 2007.  He is also a member of the Canadian roster of arbitrators of the International Chamber of Commerce and a member of the Commission on Arbitration of the International Chamber of Commerce.  He is a member of the Bar of Ontario and Quebec.

Marshall Auerback is an independent businessman with extensive international experience in portfolio management for hedge and other investment funds.  He has acted as a strategic consultant to money management and fund management firms in Asia and the U.K. and is currently providing consulting services to a UK-based hedge fund group, which specializes in the natural resource sector, and a U.S. bond fund manager.  Mr. Auerback is also a Director of an Australian investment bank. 

Sheldon Inwentash, Pinetree’s Chairman and Chief Executive Officer, stated:  “We are very excited about the wealth of experience and knowledge that Andrew and Marshall have to offer to Pinetree.  We believe that, as our business continues to grow, their contributions to the board and the strategic direction of the company will be substantial.”

About Pinetree

Pinetree Capital Ltd. ("Pinetree" or the "Company") was incorporated under the laws of the Province of Ontario and is publicly traded on the Toronto Stock Exchange (“TSX”) under the symbol “PNP” and is included in the Standard & Poor's/Toronto Stock Exchange composite index.  Pinetree is a diversified investment and merchant banking firm focused on the small cap market.  Pinetree’s investments are primarily in the resources sector: Uranium, Oil & Gas, Precious Metals and Base Metals.  Pinetree’s investment approach is to build a macro position in a sector, find the micro-cap opportunities in that sector and work with those companies to build them to commercial production and create an exit.

For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com.

Investor Relations Contact for Pinetree Capital Ltd.:

Larry Goldberg, C.A.

Executive Vice President and Chief Financial Officer

Pinetree Capital Ltd. 

Toronto, Ontario, Canada, M5X 1A9

416-941-9600

Email: ir@pinetreecapital.com    Web Site: www.pinetreecapital.com