Pinecrest Resources Files Filing Statement Regarding Qualifying Transaction with Kootenay Gold

PINECREST RESOURCES LTD.

Suite 1820, 999 West Hastings Street Vancouver, British Columbia V6C 2W2

PINECREST RESOURCES FILES FILING STATEMENT REGARDING QUALIFYING TRANSACTION WITH KOOTENAY GOLD

Vancouver, British Columbia, June 28, 2011. Pinecrest Resources Ltd. (the "Company"), a capital pool company, is pleased to announce that the Filing Statement and Technical Report required by the TSX Venture Exchange (the “Exchange”) to be prepared regarding the proposed qualifying transaction with Kootenay Gold Inc. (“Kootenay”) have been filed and are available for viewing under the Company’s profile on SEDAR at www.sedar.com.

The Company also advises that it plans to close the acquisition of the option to acquire a 50% interest in the Espiritu Property from Kootenay on or about July 12, 2011. Completion of the qualifying transaction is still subject to a number of conditions, including (a) completion by the Company of a private placement to raise aggregate gross proceeds of up to $770,000; and (b) Exchange approval. There is no assurance that the transaction will be completed as proposed or at all.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

ON BEHALF OF THE BOARD

“Edward Farrauto”

Edward Farrauto, Chief Executive Officer

For further information, please contact Edward Farrauto, Chief Executive Officer

Telephone: 604-687-3992, Fax: 604-628-1011 or email: [email protected]

Address: Suite 1820-999 West Hastings Street, Vancouver, British Columbia V6C 2W2

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.