PNP Pinetree Capital Ltd

Pinetree Capital Ltd. (TSX:PNP), announces that on August 15, 2011, it acquired
ownership of 500,000 common shares ("Common Shares") and 500,000 common share
purchase warrants (the "Warrants") of Prosperity Goldfields Corp.
("Prosperity"). Each Warrant entitles the holder thereof to acquire one
additional common share at a price of $0.85 until August 13, 2013. In the event
that the Warrants are fully exercised, these holdings represent approximately
2.3% of the total issued and outstanding common shares of Prosperity as of
August 15, 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 August 15, 2011, an aggregate of 6,720,760
common shares of Prosperity, including the Common Shares and rights to acquire
an additional 3,750,000 common shares of Prosperity upon exercise of certain
convertible securities (the "Convertible Securities"), including the Warrants.
Of these totals, Pinetree owns 2,000,000 common shares, including the Common
Shares and 1,250,000 of the Convertible Securities, including the Warrants (the
"Pinetree 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 10,470,760 common shares of Prosperity, or approximately
22.5% of all issued and outstanding common shares as at August 15, 2011,
calculated on a partially diluted basis assuming the exercise of the Convertible
Securities only. In the event that the Pinetree Convertible Securities are fully
exercised, the direct holdings of Pinetree represents a total of 3,250,000
common shares of Prosperity, or approximately 7.4% of all issued and outstanding
common shares as at August 15, 2011, calculated on a partially diluted basis
assuming the exercise of the Pinetree Convertible Securities only.


These transactions were made for investment purposes and Pinetree or its joint
actors could increase or decrease their investment in Prosperity 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 venture capital 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 and is recognized as a value added
partner in the resource industry. 


For more details about Pinetree and its investments, please visit our website at
www.pinetreecapital.com.

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