PNP Pinetree Capital Ltd

Pinetree Capital Ltd. (TSX:PNP), announces that on February 24, 2011, it
acquired ownership of 2,000,000 common shares ("Common Shares") and 2,000,000
common share purchase warrants (the "Warrants") of Strategic Resources Inc.
("Strategic"). Each Warrant entitles the holder to acquire one common share of
Strategic at a price of $0.16 until February 22, 2012 and at a price of $0.21
until February 22, 2013. In the event that the Warrants are fully exercised,
these holdings represent approximately 5.4% of the total issued and outstanding
common shares of Strategic as of February 24, 2011, calculated on a partially
diluted basis assuming the exercise of the Warrants only. As a result of this
transaction, Pinetree and its joint actors collectively held, as at February 24,
2011, an aggregate of 14,000,000 common shares of Strategic, including the
Common Shares and rights to acquire an additional 7,500,000 common shares of
Strategic upon exercise of certain convertible securities (the "Convertible
Securities"), including the Warrants. Of these totals, Pinetree owns 13,000,000
common shares, including the Common Shares and all of the Convertible Securities
directly. In the event that the Convertible Securities are fully exercised, the
holdings of Pinetree and its joint actors represents a total of 21,500,000
common shares of Strategic, or approximately 26.8% of all issued and outstanding
common shares as at February 24, 2011, calculated on a partially diluted basis
assuming the exercise of the Convertible Securities only. In the event that the
Convertible Securities are fully exercised, the direct holdings of Pinetree
represents a total of 20,500,000 common shares of Strategic, or approximately
25.6% of all issued and outstanding common shares as at February 24, 2011,
calculated on a partially diluted basis assuming the exercise of the Convertible
Securities only.


These transactions were made for investment purposes and Pinetree or its joint
actors could increase or decrease their investment in Strategic 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.

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