Pinetree Capital Ltd. Acquires Securities of RJK Explorations Ltd.

TORONTO, ONTARIO, May 27 (MARKET WIRE) --
Pinetree Capital Ltd. (TSX: PNP), announces that on May 14, 2009, it
acquired ownership of 2,000,000 Class A subordinate voting common shares
("Common Shares") and 2,000,000 Class A subordinate voting common share
purchase warrants (the "Warrants") of RJK Explorations Ltd. ("RJK"). Each
Warrant entitles the holder to acquire one additional Class A subordinate
voting common share at a price of $0.10 until November 14, 2010. In the
event that the Warrants are fully exercised, these holdings represent
approximately 7.8% per cent of the total issued and outstanding Class A
subordinate voting common shares of RJK as of May 14, 2009, calculated on
a partially diluted basis assuming the exercise of the Warrants only. As
a result of this transaction, Pinetree held, as at May 14, 2009, an
aggregate of 3,790,000 common shares of RJK, including the Common Shares,
and the Warrants. In the event that the Warrants are fully exercised, the
holdings of Pinetree represent a total of 5,790,000 Class A subordinate
voting common shares of RJK, or approximately 11.3% of all issued and
outstanding Class A subordinate voting common shares as at May 14, 2009,
calculated on a partially diluted basis assuming the exercise of the
Warrants only.

These transactions were made for investment purposes and Pinetree could
increase or decrease its investments in RJK 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.

Contacts:
Pinetree Capital Ltd.
Larry Goldberg, C.A.
Executive Vice President and Chief Financial Officer
(416) 941-9600

Pinetree Capital Ltd.
130 King Street West, Suite 2500
Toronto, Ontario, Canada M5X 1A9
Email: ir@pinetreecapital.com
Website: www.pinetreecapital.com

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