Investors

Pinetree Capital Ltd. Announces Approval Of Shareholder Rights Plan

TORONTO, Canada (April 11, 2008) (TSX: PNP) (“Pinetree” or the “Company”) announces that its shareholder rights plan (the “Rights Plan”), which was adopted by Pinetree’s board of directors and previously announced on November 12, 2007, has been approved by the Company’s shareholders at its annual and special meeting held today.

The Rights Plan is intended to provide the Company’s board of directors with adequate time to assess a take-over bid, to consider alternatives to a take-over bid as a means of maximizing shareholder value, to allow competing bids to emerge, and to provide Pinetree’s shareholders with adequate time to properly assess a take-over bid without undue pressure.

The Rights Plan will expire at the end of Pinetree’s annual shareholders’ meeting in 2011, unless it is confirmed by shareholders at that meeting.  A copy of the Rights Plan is available to the public for viewing on SEDAR at www.sedar.com under Pinetree’s profile.

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 resources sector: Uranium, Oil & Gas, Molybdenum, Precious Metals, Potash and Rare Earths, and Base Metals.  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.

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

Investor Relations:
Larry Goldberg, C.A.
Executive Vice President and Chief Financial Officer
Pinetree Capital Ltd.
130 King Street West, Suite 2500
Toronto, Ontario, Canada, M5X 1A9
Phone: 416-941-9600
Email: ir@pinetreecapital.com
Web Site: www.pinetreecapital.com