TSX: PNP     Last: 3.77     Change: -0.04
TSX: PNP     Last: 3.77     Change: -0.04

Pinetree Capital Ltd. Acquires Securities Of Copper Mesa Mining Corporation

December 8, 2009

TORONTO, Ontario (December 8, 2009) – Pinetree Capital Ltd. (TSX: PNP), announces that on December 7, 2009, it acquired ownership of 3,333,334 common shares (“Common Shares”) of Copper Mesa Mining Corporation (“Copper Mesa”) which represents approximately 3.0% of the total issued and outstanding common shares of Copper Mesa as of December 7, 2009.  As a result of this transaction, Pinetree held, as at December 7, 2009, an aggregate of 18,827,270 common shares of Copper Mesa, including the Common shares, or approximately 17.0% of such shares outstanding as of December 7, 2009.

These transactions were made for investment purposes and Pinetree could increase or decrease its investment in Copper Mesa 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, Precious Metals, Base Metals and Potash, Lithium and Rare Earths.  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

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