Investors

TORONTO, Canada (May 1, 2012) Pinetree Capital Ltd. (TSX: PNP), announces that, further to a plan of arrangement between Darwin Resources Corp. (“Darwin”) and Mawson Resources Limited effective April 30, 2012, it acquired ownership of 1,817,033 common shares (“Common Shares”) of Darwin, representing approximately 6.9% of the total issued and outstanding common shares of Darwin as of April 30, 2012.  As a result of this transaction, Pinetree held, as at April 30, 2012, an aggregate of 3,067,033 common shares of Darwin, including the Common Shares, and rights to acquire an additional 625,000 common shares of Darwin upon exercise of certain convertible securities (the “Convertible Securities”). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 3,692,033 common shares of Darwin, or approximately 13.8% of all issued and outstanding common shares as at April 30, 2012, 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 their investment in Darwin 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.