Mr. Peter Tolnai of Pinetree reports

PINETREE CAPITAL LTD. DISPOSES OF COMMON SHARES OF TERRENO RESOURCES CORP.

On June 30, 2016, Pinetree Capital Ltd. sold 108,000 common shares of Terreno Resources Corp. at a price of 5.92 cents per share, for an aggregate sale price of $6,390.04. The transaction was completed through the facilities of the TSX Venture Exchange.

Prior to the transaction, Pinetree beneficially owned 1,214,483 common shares of Terreno (including 100,000 exercisable common share purchase warrants held by Pinetree), representing approximately 10.71 per cent of Terreno's issued and outstanding common shares. As a result of the transaction, Pinetree now beneficially owns 1,106,483 common shares of Terreno (including 100,000 exercisable common share purchase warrants held by Pinetree), representing approximately 9.76 per cent of Terreno's issued and outstanding common shares.

In the future, Pinetree may, from time to time, acquire or dispose ownership of, or control or direction over, additional securities of Terreno for investment purposes.

This news release is being issued under the early warning reporting provisions of applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR profile of Terreno at SEDAR. To obtain a copy of the early warning report, you may also contact Peter Tolnai, the chief executive officer of Pinetree, at 416-941-9600. As a result of the transaction, Pinetree's ownership of common shares of Terreno is now below the reporting threshold prescribed by applicable securities laws.