TORONTO, CANADA–(Marketwire – Jan. 14, 2013) – Pinetree Capital Ltd. (TSX:PNP), announces that on January 11, 2013, it acquired ownership of 10,000,000 common shares (“Common Shares”) and 5,000,000 common share purchase warrants (the “Warrants”) of U3O8 Corp. (“U3O8”). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.30 until January 11, 2015. In the event that the Warrants are fully exercised, these holdings represent approximately 10.5% of the total issued and outstanding common shares of U3O8 as of January 11, 2013, 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 January 11, 2013, an aggregate of 27,009,057 common shares of U3O8, including the Common Shares, and rights to acquire an additional 6,341,250 common shares of U3O8 upon exercise of certain convertible securities (the “Convertible Securities”), including the Warrants. Of these totals, Pinetree owns 22,274,771 common shares, including the Common Shares, and 5,941,250 of the Convertible Securities, including the Warrants (the “Pinetree Convertible Securities”), directly. In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 33,350,307 common shares of U3O8, or approximately 23.0% of all issued and outstanding common shares as at January 11, 2013, 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 represents a total of 28,216,021 common shares of U3O8, or approximately 19.6% of all issued and outstanding common shares as at January 11, 2013, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.