Pinetree Capital Ltd. Acquires Securities of Prosperity Goldfields Corp.

TORONTO, ONTARIO--(Marketwire - Aug. 18, 2011) - Pinetree Capital Ltd. (TSX:PNP), announces that on August 15, 2011, it acquired ownership of 500,000 common shares ("Common Shares") and 500,000 common share purchase warrants (the "Warrants") of Prosperity Goldfields Corp. ("Prosperity"). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.85 until August 13, 2013. In the event that the Warrants are fully exercised, these holdings represent approximately 2.3% of the total issued and outstanding common shares of Prosperity as of August 15, 2011, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree and its joint actors collectively held, as at August 15, 2011, an aggregate of 6,720,760 common shares of Prosperity, including the Common Shares and rights to acquire an additional 3,750,000 common shares of Prosperity upon exercise of certain convertible securities (the "Convertible Securities"), including the Warrants. Of these totals, Pinetree owns 2,000,000 common shares, including the Common Shares and 1,250,000 of the Convertible Securities, including the Warrants (the "Pinetree Convertible Securities") directly. In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 10,470,760 common shares of Prosperity, or approximately 22.5% of all issued and outstanding common shares as at August 15, 2011, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Pinetree Convertible Securities are fully exercised, the direct holdings of Pinetree represents a total of 3,250,000 common shares of Prosperity, or approximately 7.4% of all issued and outstanding common shares as at August 15, 2011, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.

These transactions were made for investment purposes and Pinetree or its joint actors could increase or decrease their investment in Prosperity 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: Uranium and Coal, Oil & Gas, Precious Metals, Base Metals and Potash, Lithium and Rare Earths. 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 and 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.