Investors

Pinetree Capital Ltd. Acquires Securities Of Macarthur Minerals Ltd.

TORONTO, Ontario (January 4, 2008) – Pinetree Capital Ltd. (TSX: PNP), a Canadian investment company, announces that on January 3, 2008 it acquired ownership of 500,000 common shares (“Common Shares”) of Macarthur Minerals Ltd. (“Macarthur”) and 500,000 common share purchase warrants (the “Warrants”).  Each Warrant entitles the holder thereof to acquire one additional common share at a price of $2.00 until July 3, 2009.  In the event that the Warrants are fully exercised, these holdings represent approximately 5.6% of the total issued and outstanding common shares of Macarthur as of January 3, 2008, calculated on a partially diluted basis assuming the exercise of the Warrants only.  Immediately following the acquisition of the Common Shares and Warrants, Pinetree holds 2,640,600 common shares of Macarthur, including the Common Shares and rights to acquire an additional 1,000,000 common shares upon exercise of convertible securities (the “Convertible Securities”), including the Warrants, directly.  In the event that the Convertible Securities are fully exercised, Pinetree’s holdings represent approximately 19.7% of the total issued and outstanding common shares of Macarthur as of January 3, 2008, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. 

These transactions were made for investment purposes and Pinetree could increase or decrease its investment in Macarthur depending on market conditions or any other relevant factor.

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”.  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 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.

This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Pinetree’s results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. Pinetree disclaims any intent or obligation to update these forward-looking statements.