Pinestar Gold is pleased to announce that it has closed its non-brokered private placement financing of units, pursuant to which the Company has issued an aggregate of 8,608,695 Units at a price of $0.23 cents per Unit, to raise total gross proceeds to the Company of $1,980,000. The Private Placement was originally announced in the Company's news releases dated March 10, 2011, March 14, 2011 and March 23, 2011.