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

Pinetree Capital Ltd. Acquires Securities Of La Quinta Resources Corporation

October 7, 2010

TORONTO, Canada Pinetree Capital Ltd. (TSX: PNP), announces that on October 6, 2010, it acquired ownership of 838,000 common shares (“Common Shares”) of La Quinta Resources Corporation. (“La Quinta”) through the facilities of the TSX Venture Exchange, representing approximately 1.4% of the total issued and outstanding common shares of La Quinta as of October 6, 2010.  As a result of this transaction, Pinetree held, as at October 6, 2010, an aggregate of 5,999,500 common shares of La Quinta representing approximately 10.1% of all issued and outstanding common shares as at October 6, 2010.

This transaction was made for investment purposes and Pinetree could increase or decrease its investment in La Quinta 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 and Coal, 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:
Richard Patricio
Vice President, Legal and Corporate Affairs
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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