TSX: PNP     Last: 4.95     Change: 0.06
TSX: PNP     Last: 4.95     Change: 0.06

Pinetree Capital Ltd. Acquires Common Shares Of Cline Mining Corporation

February 22, 2008

TORONTO, Ontario (February 22, 2008) – Pinetree Capital Ltd. (TSX: PNP), announces that through a series of transactions ended on February 21, 2008, it acquired ownership of 1,239,400 common shares (“Common Shares”) of Cline Mining Corporation (“Cline”) through the facilities of the Toronto Stock Exchange representing approximately 1.6% of the total issued and outstanding common shares of Cline as of February 22, 2008. As a result of this transaction, Pinetree held, as at February 22, 2008, an aggregate of 10,000,000 common shares of Cline, including the Common Shares, or approximately 13.1% of such shares outstanding as of February 22, 2008.

These transactions were made for investment purposes and Pinetree could increase or decrease its investment in Cline 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

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

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