Pinetree Capital Ltd. Acquires Securities Of Ami Resources Inc.

May 8, 2009

TORONTO, Canada Pinetree Capital Ltd. (TSX: PNP), announces that on May 6, 2009, it acquired ownership of 2,000,000 common shares (“Common Shares”) of AMI Resources Inc. (“AMI”) and 2,000,000 common share purchase warrants (the “Warrants”).  Each Warrant entitles the holder to purchase one additional common share at a price of $0.10 per share until May 6, 2010.  In the event that the Warrants are fully exercised, these holdings represent approximately 11.8% of the total issued and outstanding common shares of AMI as of May 6, 2009.  As a result of this transaction, Pinetree and his joint actors collectively held, as at May 6, 2009, an aggregate of 4,638,000 common shares of AMI, including the Common Shares and rights to acquire an additional 2,640,000 common shares of AMI upon the exercise of convertible securities, including the Warrants (collectively, the “Convertible Securities”).  Of these totals, Pinetree owns the 4,638,000 common shares and the Warrants directly.  In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 7,278,000 common shares of AMI, or approximately 18.3% of all issued and outstanding common shares as at May 6, 2009, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.  In the event that the Warrants are fully exercised, the holdings of Pinetree represent a total of 6,638,000 common shares of AMI, or approximately 16.9% of all issued and outstanding common shares as at May 6, 2009, calculated on a partially diluted basis assuming the exercise of the Warrants only. 

These transactions were made for investment purposes and Pinetree could increase or decrease its investments in AMI 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 merchant banking firm focused on the small cap market.  Pinetree’s investments are primarily in the resources sector: Uranium, Oil & Gas, Molybdenum, Precious Metals, Potash and Rare Earths, and Base Metals.  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.

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