PNP Pinetree Capital Ltd

Pinetree Capital Ltd. (TSX: PNP), announces that on March 4, 2011, it acquired ownership of 3,000,000 common shares ("Common Shares") and 1,500,000 common share purchase warrants (the "Warrants") of Compass Gold Corporation ("Compass Gold"). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.20 until April 12, 2012. In the event that the Warrants are fully exercised, these holdings represent approximately 10.3% of the total issued and outstanding common shares of Compass Gold as of March 4, 2011, calculated on a partially diluted basis assuming the exercise of the Warrants only.

This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Compass Gold 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.

Contacts: Pinetree Capital Ltd. Sheldon Inwentash Chairman & CEO 416-941-9600 Investor Relations: Pinetree Capital Ltd. Richard Patricio Vice President, Legal and Corporate Affairs 416-941-9600 ir@pinetreecapital.com www.pinetreecapital.com