012-12-06 12:30 ET - News Release

See News Release (C-PNP) Pinetree Capital Ltd

Mr. Sheldon Inwentash reports

PINETREE CAPITAL LTD. ACQUIRES SECURITIES OF ALPHA MINERALS INC.

On Dec. 5, 2012, Pinetree Capital Ltd. acquired ownership of 150,000 common shares and 75,000 common share purchase warrants of Alpha Minerals Inc. Each warrant entitles the holder thereof to acquire one additional common share at a price of $1.80 until Dec. 5, 2013. In the event that the warrants are fully exercised, these holdings represent approximately 1.4 per cent of the total issued and outstanding common shares of Alpha as of Dec. 5, 2012, calculated on a partially diluted basis, assuming the exercise of the warrants only. As a result of this transaction, Pinetree and its joint actors collectively held, as at Dec. 5, 2012, a total of 1,540,500 common shares of Alpha, including the common shares, and rights to acquire an additional 750,000 common shares of Alpha upon exercise of certain convertible securities, including the warrants. Of these totals, Pinetree owns 300,000 common shares, including the common shares, and 525,000 of the convertible securities, including the warrants, directly. In the event that the convertible securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 2,290,500 common shares of Alpha, or approximately 13.8 per cent of all issued and outstanding common shares as at Dec. 5, 2012, calculated on a partially diluted basis, assuming the exercise of the convertible securities only. In the event that the Pinetree convertible securities are fully exercised, the direct holdings of Pinetree represent a total of 825,000 common shares of Alpha, or approximately 5 per cent of all issued and outstanding common shares as at Dec. 5, 2012, calculated on a partially diluted basis, assuming the exercise of the Pinetree convertible securities only.

These transactions were made for investment purposes and Pinetree or its joint actors could increase or decrease their investment in Alpha depending on market conditions or any other relevant factors.