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Press release from Marketwire

Pinetree Capital Ltd. Acquires Securities of Creso Exploration Inc.

Wednesday, November 02, 2011

Pinetree Capital Ltd. Acquires Securities of Creso Exploration Inc.11:29 EDT Wednesday, November 02, 2011TORONTO, ONTARIO--(Marketwire - Nov. 2, 2011) - Pinetree Capital Ltd. (TSX:PNP), announces on November 1, 2011, it acquired ownership of 250,000 common shares ("Common Shares") of Creso Exploration Inc. ("Creso") through the facilities of the TSX Venture Exchange representing approximately 0.3% of the total issued and outstanding common shares of Creso as of November 1, 2011. As a result of this transaction, Pinetree and its joint actors collectively held, as at November 1, 2011, an aggregate of 7,202,000 common shares of Creso, including the Common Shares and rights to acquire an additional 3,800,000 common shares of Creso upon exercise of certain convertible securities (the "Convertible Securities"). Of these totals, Pinetree owns 5,702,000 common shares, including the Common Shares and 3,050,000 of the Convertible Securities (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 11,002,000 common shares of Creso, or approximately 11.6% of all issued and outstanding common shares as at November 1, 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 8,752,000 common shares of Creso, or approximately 9.3% of all issued and outstanding common shares as at November 1, 2011, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only. This transaction was made for investment purposes and Pinetree or its joint actors could increase or decrease their investment in Creso depending on market conditions or any other relevant factor.About PinetreePinetree 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 FURTHER INFORMATION PLEASE CONTACT: Sheldon InwentashPinetree Capital Ltd.Chairman & CEO416-941-9600ORRichard PatricioInvestor Relations: Pinetree Capital Ltd.Vice President, Legal and Corporate Affairs416-941-9600ir@pinetreecapital.comwww.pinetreecapital.com