Pinetree Capital Ltd. Acquires Securities of Salmon River Resources Ltd.

TORONTO, CANADA--(Marketwire - Dec. 15, 2011) - Pinetree Capital Ltd. (TSX:PNP), announces that on December 14, 2011, it acquired ownership of 1,000,000 common shares ("Common Shares") of Salmon River Resources Ltd. ("Salmon River"), representing approximately 2.3% of the total issued and outstanding common shares of Salmon River as of December 14, 2011. As a result of this transaction, Pinetree and its joint actors collectively held, as at December 14, 2011, an aggregate of 6,250,000 common shares of Salmon River, including the Common Shares, or approximately 14.2% of the total issued and outstanding common shares of Salmon River as of December 14, 2011. Of these totals, Pinetree owns 3,250,000 common shares, including the Common Shares, directly, or approximately 7.4% of the total issued and outstanding common shares of Salmon River as of December 14, 2011.

This transaction was made for investment purposes and Pinetree, or its joint actors, could increase or decrease its/their investment in Salmon River 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 venture capital firm focused on the small cap market. Pinetree's investments are primarily in the resources sector: Precious Metals, Base Metals, Oil and Gas, Potash, Lithium and Rare Earths, Uranium and Coal. 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 in the resource industry.