TORONTO, CANADA--(Marketwire - Jan. 30, 2012) - Pinetree Capital Ltd.
(TSX:PNP), announces that on January 27, 2012, it acquired ownership
of 1,000,000 common shares ("Common Shares") and 1,000,000 common
share purchase warrants (the "Warrants") of Torch River Resources Ltd.
("Torch River"). Each Warrant entitles the holder thereof to acquire
one additional common share at a price of $0.10 until January 26,
2014. In the event that the Warrants are fully exercised, these
holdings represent approximately 5.1% of the total issued and
outstanding common shares of Torch River as of January 27, 2012,
calculated on a partially diluted basis assuming the exercise of the
Warrants only. As a result of this transaction, Pinetree held, as at
January 27, 2012, an aggregate of 6,625,000 common shares of Torch
River, including the Common Shares, and rights to acquire an
additional 3,312,500 common shares of Torch River upon exercise of
certain convertible securities, including the Warrants (the
"Convertible Securities"). In the event that the Convertible
Securities are fully exercised, the holdings of Pinetree represents a
total of 9,937,500 common shares of Torch River, or approximately
24.0% of all issued and outstanding common shares as at January 27,
2012, calculated on a partially diluted basis assuming the exercise of
the Convertible Securities only.

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

Marketwire Canada
January 30, 2012 - 4:38 PM EST

For details on Torch River please call Investor Relations at:
John R. Chalcraft, ProActive Communications
#201 - 2383 King George Blvd., White Rock, BC, V4A 5A4
Local:  (604) 541-1995;   Toll free:  1 (800) 540-1995
.