TORONTO, Ontario (September 10, 2009) � Pinetree Capital Ltd. (TSX: PNP), announces that on September 2, 2009, it acquired ownership of 2,083,333 common shares (�Common Shares�) of Lomiko Metals Inc. (�Lomiko�) and 1,041,666 common share purchase warrants (the �Warrants�).  Each Warrant entitles the holder thereof to acquire one additional common share until March 2, 2011, at a price of $0.20.   In the event that the Warrants are fully exercised, these holdings represent approximately 7.6% of the total issued and outstanding common shares of Lomiko as of September 2, 2009, calculated on a partially diluted basis assuming the exercise of the Warrants only.  As a result of this transaction, Pinetree and its joint actors held, as at September 2, 2009, an aggregate of 3,833,333 common shares of Lomiko, including the Common Shares and the Warrants.  Of these totals, Pinetree directly holds the Common Shares and the Warrants.  If Pinetree and its joint actors were to exercise all of the Warrants, their combined ownership would represent a total of 4,874,999 common shares of Lomiko, or approximately 11.9% of such shares outstanding as of September 2, 2009, calculated on a partially diluted basis assuming the exercise of the Warrants only. 

These transactions were made for investment purposes and Pinetree and each of its joint actors could increase or decrease their respective investments in Lomiko 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, Oil & Gas, Molybdenum, Precious Metals, Potash and Rare Earths, and Base Metals.  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

Investor Relations:
Larry Goldberg, C.A.
Executive Vice President and Chief Financial Officer
Pinetree Capital Ltd.
130 King Street West, Suite 2500
Toronto, Ontario, Canada, M5X 1A9
Phone: 416-941-9600
Email: ir@pinetreecapital.com  
Web Site: www.pinetreecapital.com