Mr. Sheldon Inwentash of Pinetree reports

PINETREE CAPITAL LTD. ACQUIRES SECURITIES OF LA QUINTA RESOURCES CORPORATION

Pinetree Capital Ltd., on Nov. 16, 2010, acquired ownership of two million common shares and two million common share purchase warrants of La Quinta Resources Corp. Each warrant entitles the holder thereof to acquire one additional common share at a price of 10 cents until May 9, 2011, and at a price of 15 cents until Nov. 9, 2011. In the event that the warrants are fully exercised, these holdings represent approximately 5.8 per cent of the total issued and outstanding common shares of La Quinta as of Nov. 16, 2010, calculated on a partially diluted basis assuming the exercise of the warrants only. As a result of this transaction, Pinetree held, as at Nov. 16, 2010, a total of 7,999,500 common shares of La Quinta, including the common shares, and rights to acquire an additional two million common shares of La Quinta upon exercise of certain convertible securities, including the warrants. In the event that the convertible securities are fully exercised, the holdings of Pinetree represent a total of 9,999,500 common shares of La Quinta, or approximately 14.4 per cent of all issued and outstanding common shares as at Nov. 16, 2010, calculated on a partially diluted basis assuming the exercise of the convertible securities only.

This transaction was made for investment purposes, and Pinetree could increase or decrease its investment in La Quinta depending on market conditions or any other relevant factor.