Investors

Pinetree Capital Ltd. Acquires Securities Of Strait Gold Corp.

TORONTO, Canada Pinetree Capital Ltd. (TSX: PNP), announces that on August 26, 2010, it acquired ownership of 1,666,666 common shares (“Common Shares”) and 833,333 common share purchase warrants (the “Warrants”) of Strait Gold Corp. (“Strait”).  Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.15 until August 26, 2012.  In the event that the Warrants are fully exercised, these holdings represent approximately 6.4% of the total issued and outstanding common shares of Strait as of August 26, 2010, calculated on a partially diluted basis assuming the exercise of the Warrants only.  As a result of this transaction, Pinetree held, as at August 26, 2010, an aggregate of 3,131,666 common shares of Strait, including the Common Shares and rights to acquire an additional 1,333,333 common shares of Strait upon exercise of certain convertible securities (the “Convertible Securities”) including the Warrants.  In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 4,464,999 common shares of Strait, or approximately 11.3% of all issued and outstanding common shares as at August 26, 2010, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.

This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Strait depending on market conditions or any other relevant factor.

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 and Coal, Oil & Gas, Precious Metals, Base Metals and Potash, Lithium and Rare Earths.  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:
Richard Patricio
Vice President, Legal and Corporate Affairs
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