Pinetree Capital Ltd. Acquires Securities of Alexander Nubia International Inc.

TORONTO, ONTARIO--(Marketwire - July 28, 2011) - Pinetree Capital Ltd. (TSX:PNP), announces that on July 27, 2011, it acquired ownership of 4,665,900 common shares ("Common Shares") of Alexander Nubia International Inc. ("Alexander Nubia") through the facilities of the TSX Venture Exchange, representing approximately 4.4% of the total issued and outstanding common shares of Alexander Nubia as of July 27, 2011. As a result of this transaction, Pinetree held, as at July 27, 2011, an aggregate of 12,165,900common shares of Alexander Nubia, including the Common Shares, and rights to acquire an additional 1,250,000 common shares of Alexander Nubia upon exercise of certain convertible securities (the "Convertible Securities"). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 13,415,900 common shares of Alexander Nubia, or approximately 12.6% of all issued and outstanding common shares as at July 27, 2011, 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 Alexander Nubia 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.

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