Pinetree Capital Ltd. Acquires Securities of Ucore Uranium Inc.
Date: September 2, 2009

TORONTO, ONTARIO--(Marketwire - Sept. 2, 2009) - Pinetree Capital Ltd. (TSX:PNP), announces that through a series of transactions ending on September 1, 2009, Pinetree acquired ownership of 100,000 common shares ("Common Shares") of Ucore Uranium Inc. ("Ucore") through the facilities of the TSX Venture Exchange representing approximately 0.1% of the total issued and outstanding common shares of Ucore as of September 1, 2009. As a result of this transaction, Pinetree and its joint actor collectively held, as at September 1, 2009, an aggregate of 7,371,500 common shares of Ucore, including the Common Shares and rights to acquire an additional 1,250,000 common shares of Ucore upon the exercise of convertible securities (collectively, the "Convertible Securities"). Of these totals, Pinetree owns 7,150,000 common shares, including the Common Shares and all of the Convertible Securities, directly. In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actor represents a total of 8,621,500 common shares of Ucore, or approximately 10.1% of all issued and outstanding common shares as at September 1, 2009, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Convertible Securities are fully exercised, the direct holdings of Pinetree represent a total of 8,400,000 common shares of Ucore, or approximately 9.8% of all issued and outstanding common shares as at September 1, 2009, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.