Pinetree Capital Ltd. Acquires Securities of Caldera Resources Inc.

TORONTO, ONTARIO, Apr 22 (MARKET WIRE) --
Pinetree Capital Ltd. (TSX: PNP), announces that on April 19, 2010, it
acquired ownership of 1,500,000 common shares ("Common Shares")
and 1,500,000 common share purchase warrants (the "Warrants")
of Caldera Resources Inc. ("Caldera"). Each Warrant entitles
the holder thereof to acquire one additional common share at a price of
$0.20 until April 16, 2012. In the event that the Warrants are fully
exercised, these holdings represent approximately 13.3% of the total
issued and outstanding common shares of Caldera as of April 19, 2010,
calculated on a partially diluted basis assuming the exercise of the
Warrants only. As a result of this transaction, Pinetree held, as at
April 19, 2010, an aggregate of 3,500,000 common shares of Caldera,
including the Common Shares, and rights to acquire an additional
3,500,000 common shares of Caldera 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 7,000,000
common shares of Caldera, or approximately 28.5% of all issued and
outstanding common shares as at April 19, 2010, 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 Caldera 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, 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.

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

Contacts:
Investor Relations: Pinetree Capital Ltd.
Larry Goldberg, C.A.
Executive Vice President and Chief Financial Officer
416-941-9600
ir@pinetreecapital.com
www.pinetreecapital.com

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