Pinetree Capital Ltd. Acquires Securities of MPH Ventures Corp.

Pinetree Capital Ltd. (TSX: PNP), announces that on November 16, 2007, it acquired ownership of 1,145,000 common shares ("Common Shares") of MPH Ventures Corp. ("MPH") and 1,145,000 common share purchase warrants (the "Warrants"). Each Warrant entitles the holder thereof to acquire one additional common share until November 15, 2008, at a price of $0.27 and until November 15, 2009 at a price of $0.30. In the event that the Warrants are fully exercised, these holdings represent approximately 9.2% of the total issued and outstanding common shares of MPH as of November 16, 2007, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree holds, as at November 16, 2007, 2,145,000 common shares of MPH, including the Common Shares and securities convertible into an additional 2,145,000 common shares of MPH (the "Convertible Securities"), including the Warrants. If Pinetree were to exercise all of the Convertible Securities, its ownership would represent a total of 4,290,000 common shares of MPH, or approximately 16.6% of such shares outstanding as of November 16, 2007, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.

These transactions were made for investment purposes and Pinetree and each of its joint actors could increase or decrease their respective investments in MPH depending on market conditions or any other relevant factor.

About Pinetree

Pinetree Capital Ltd. ("Pinetree" or the "Company") was incorporated under the laws of the Province of Ontario and is 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 and Base Metals. Pinetree's investment approach is to build a macro position in a sector, find the micro-cap opportunities in that sector and work with those companies to build them to commercial production and create an exit.

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 Email: ir@pinetreecapital.com Media Relations: Pinetree Capital Ltd. Wanda Cutler Director of Corporate Communications (416) 860-1717 Website: www.pinetreecapital.com