PNP Pinetree Capital Ltd

Pinetree Capital Ltd. (TSX:PNP), announces that on May 21, 2013, as a result of a reverse take-over by Wolfpack Gold of Tigris Uranium Corp., it acquired ownership of 4,266,666 common shares ("Common Shares") of Wolfpack Gold Corp. ("Wolfpack") representing approximately 8.6% of the total issued and outstanding common shares of Wolfpack as of May 21, 2013. As a result of this transaction, Pinetree and its joint actors collectively held, as at May 21, 2013, an aggregate of 6,041,666 common shares of Wolfpack, including the Common Shares, representing approximately 12.2% of all issued and outstanding common shares as at May 21, 2013.

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

Contacts: Pinetree Capital Ltd. Sheldon Inwentash, CPA, CA. Chairman & CEO 416-941-9600 Pinetree Capital Ltd. Gerry Feldman, CPA, CA. CFO & Vice President, Corporate Development 416-643-3884feldman@pinetreecapital.com Investor Relations: Pinetree Capital Ltd. Richard Patricio, LL.B. Vice President, Legal and Corporate Affairs 416-941-9600ir@pinetreecapital.com www.pinetreecapital.com