PNP Pinetree Capital Ltd

Pinetree Capital Ltd. (TSX:PNP), a Canadian investment company, announces that
the Toronto Stock Exchange (the "TSX") has accepted notice of its intention to
renew its normal course issuer bid (the "Bid") to purchase up to 5,000,000 of
its common shares (representing approximately 3.7% of the 136,547,273 common
shares outstanding as at August 23, 2011), through the facilities of the TSX and
on other published markets.


The Bid will commence on September 1, 2011 and end on August 31, 2012. Pinetree
can purchase up to a maximum of 139,479 common shares per day under the Bid
(subject to the company's ability to rely upon the "block purchase exception"
under the TSX rules). All purchases will be made at market prices and otherwise
in accordance with the rules of the TSX, and all common shares purchased under
the Bid will be cancelled.


Pinetree believes that recent trading prices of its shares are not, and prices
from time to time throughout the duration of the Bid may not be, fully
reflective of the company's underlying value. Depending upon future price
movements and other factors, the purchase of its shares under the Bid may
represent an attractive investment for the company and a desirable use of funds
to contribute to enhancing shareholder value.


Pinetree has not purchased any of its common shares during the previous twelve
months.


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: Precious Metals, Base Metals, Oil and
Gas, Potash, Lithium and Rare Earths, Uranium and Coal. 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. Pinetree is recognized as a value-added
partner in the resource industry. 


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

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