Pinetree Capital Ltd., Annual General Meeting, Apr 11, 2008 Agenda: To consider and approve its shareholder rights plan.

Pinetree Capital Ltd. announced earnings results for the fourth quarter and year ended December 31, 2007. Net loss in the fourth quarter was $2.2 million or $0.02 per share against net income of $97.7 million or $1.14 per share in the fourth quarter of 2006. During the fourth quarter, Pinetree realized a net gain on disposal of its investments totaling $20.3 million, as compared to a net realized gain of $40.3 million in the same quarter last year. Pinetree had net investment gains in the fourth quarter of $11.9 million, including unrealized losses on investments of $13.9 million, as compared to net investment gains of $156.5 million in the fourth quarter of fiscal 2006. Unrealized losses of $13.9 million for the three-month period ended December 31, 2007, are comprised of $16.3 million in reversals of prior period recorded unrealized losses and a $30.2 million write-down of the investments to fair value as at December 31, 2007. Net loss for the year ended December 31, 2007 was $91.6 million or $0.94 per share as compared to net income of $183.1 million or $2.31 per share for the year ended December 31, 2006. For the year ended December 31, 2007, Pinetree generated realized investment gains of $190.8 million as compared to $94.3 million last year. During the year ended December 31, 2007, the net investment loss of $92 million (against $291.3 million net investment gains in 2006) includes net unrealized losses on investments of $288.3 million. The net unrealized losses during 2007 were comprised of the reversal of prior year recorded unrealized gains of $183.1 million and by a $105.2 million net write-down to fair value on the investments.

Noront Resources Ltd. (TSXV: NOT) announced a private placement of 6,500,000 units at CAD 4 per unit for gross proceeds of CAD 26 million on February 4, 2008. Each unit consists of one common share and one-half of one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 5 per share for a period of two years from the date of issue. The company may at its discretion, give warrant holders a notice of exercising the warrants within 30 trading days if the average closing price of the common shares equal or exceed CAD 6 per share for a period of 10 consecutive trading days, or the warrants will expire. IBK Capital Corp. and J.P. Morgan Securities will act as the placement agents in the transaction. The transaction is expected to close by February 6, 2008.