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Pinetree Capital acquires 1 million shares of Masuparia Gold

Pinetree Capital, an investment and merchant banking firm, has acquired 1 million common shares and an equal number of share purchase warrants of Masuparia Gold.

Each warrant entitles the holder thereof to acquire one additional common share at a price of $0.35 until March 14, 2009. In the event that the warrants are fully exercised, these holdings represent approximately 13% of the total issued and outstanding common shares of Masuparia, 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 investment in Masuparia depending on market conditions or any other relevant factor.