Investors

Pinetree Capital Ltd. Acquires Securities Of Macarthur Minerals Ltd.

TORONTO, Ontario (March 14, 2008) – Pinetree Capital Ltd. (TSX: PNP), a Canadian investment company, announces that through a series of transactions ending on March 13, 2008, it acquired ownership of 930,000 common shares (“Common Shares”) of Macarthur Minerals Ltd. (“Macarthur”) through the facilities of the TSX Venture Exchange representing approximately 5.1% of the total issued and outstanding common shares of Macarthur as of March 14, 2008.   As a result of this transaction Pinetree holds 3,657,700 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”), directly.  In the event that the Convertible Securities are fully exercised, Pinetree’s holdings represent 4,657,700 common shares of Macarthur or approximately 24.1% of the total issued and outstanding common shares of Macarthur as of March 13, 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") was incorporated under the laws of the Province of Ontario and its shares are publicly traded on the Toronto Stock Exchange 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 following resources sectors: Uranium, Oil & Gas, Molybdenum, Precious Metals, Potash and Rare Earths, and Base Metals.  Pinetree’s investment approach is to build a macro position in a sector, find the micro-cap opportunities within 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:
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