SPQ Spider Resources Com

Spider Resources Inc. ("Spider") (TSX VENTURE:SPQ), and UC Resources Ltd. ("UC")
(TSX VENTURE:UC). Spider Resources (the "Company") and UC are pleased to
announce the receipt of assays from a diamond drilling program at the McFauld's
Lake volcanic-hosted massive sulphide ("VMS") project, located in northern
Ontario in the James Bay Lowlands. Hole McF-07-75 and McF-07-76 as previously
announced (August 30, 2007) encountered massive sulphide mineralization
containing appreciable chalcopyrite and sphalerite.


Drill hole McF-07-75 was set up on line 8+25 N and the initial dip was -64
degrees for a total length of 192 meters. The hole was designed to overcut
historic 2004 hole McF-04-41 (6.49% Cu and 3.45% Zn over 8 meters) and infill an
area in the mineralized zone that had not been previously tested, as required
for an update on the resource estimate for this occurrence. The main mineralized
zone was encountered between 164.28 meters and 183.3 meters (19.02 meters). This
entire section averaged 0.35 g/t Au, 6.63 g/t Ag, 2.69% Cu and 4.35% Zn over
19.02 meters.


Drill hole McF-07-76 was started at the same set up as hole McF-07-75, however
the dip was decreased to -49 degrees, thus testing another area as required for
resource estimate update. The hole was completed a total core length of 178
meters. The main mineralized zone was encountered between 154 meters and 161.5
meters (7.5 meters), previously reported as from 152.66 meters and 160.13 meters
(7.47 meters), however there was a drill hole measurement error caught during
detail logging and sampling. This entire section averaged 0.22 g/t Au, 7.47 g/t
Ag, 1.8% Cu and 3.3% Zn over 7.5 meters. In this hole copper values were higher
near the top of the mineralized zone where from 154 meters to 159.21 meters
(5.21 meters) the copper value average 2.49%. Gradationally below this, from 157
meters to 161.5 meters the zinc value averaged 4.64%.


Drill hole McF-07-73 was set up on section 7+75 E (Grid "C" McFaulds #3
occurrence) and drilled grid south at - 69 degrees for 374 meters. The main
mineralized zone was encountered between 329 meters and 345.2 meters, consisting
of heavily chloritized magnetite - pyrite zone, with trace sphalerite (zinc
sulphide) and trace chalcopyrite (copper sulphide), only anomalous assay values
of zinc and copper were received. This hole, although it entered the VMS
mineralized envelope, will help to delineate the limits of this VMS occurrence
in this portion of the body.


As reported earlier, drill hole McF-07-74 was set up on Line 8+00 E at 2+92 N
with an initial dip of 80 degrees, designed to undercut Hole McF-04-57 that had
intersected 8% Cu over 18 meters, as well as hole McF-04-29 (4.39 % Cu over
2.5m). The drilling of hole McF-07-74 encountered problems early, at the
interface between the overlying Paleozoic (limestone and sandstone) with the
volcanic rocks, the hole flattened from 80 degrees to 43 degrees, causing this
hole to be abandoned at 154 meters. There were no samples selected from this
hole.


A total of 2,354 meters has been drilled in 7 holes, results have been received
for the first 4 holes only. The on-site field aspects of the project were
overseen by Dr. Howard Lahti P.Geo., an Independent Qualified Person and Mike
Kilbourne, both of which are in the employ of Billiken Management Services Inc.
of Toronto.


All samples reported upon herein were selected by either Howard Lahti or Mike
Kilbourne and were cut in half by diamond core saw. Individual samples were
labeled, placed and sealed in plastic sample bags. Groups of samples were then
placed into durable rice bags that were secured by project security tags and
then placed into plastic pails for shipping. Plastic pails were secured using
tie locks and delivered via bonded carrier to ALS Chemex sample preparation
laboratory in Thunder Bay, Ontario. All samples were then crushed and
pulverized, then sample pulps were sent to ALS Chemex Laboratory in Vancouver
B.C. for analysis, remaining coarse reject portion of the samples remain in
storage at the ALS Chemex storage facility in Thunder Bay. In Vancouver, the
samples underwent multi-element analysis using ALS Chemex assay procedure
ME-MS61, when samples received over-limit values they underwent further analysis
using ALS Chemex assay procedure Cu-OG62 (for copper) and Zn-OG62 (for zinc).
For gold analysis, all samples underwent Au-ICP21 analysis. The reader is
referred to www.alschemex.com for details of analytical procedures.


The current program is funded entirely by UC Resources Limited ("UC"), in
compliance with their funding obligation for the project. UC has an option to
earn-in up to a 55% undivided interest in the McFauld's Lake project, which is
currently owned as to an undivided 50% interest, by each of Spider and KWG, as
per the LOI signed in early March 2007. UC is the operator of the property
during the term of their option.


The McFauld's Lake VMS project was initially discovered in 2002, while Spider,
KWG and De Beers Canada Exploration Inc. were exploring the project area in
joint venture for kimberlites. De Beers holds a 1.5% net smelter royalty on the
project, 0.5% of which can be purchased from De Beers by Spider and KWG for $1.5
million. To date, 10 isolated VMS occurrences have been identified and drill
tested on the project, two of which (McFauld's #1 and #3) have undergone detail
drilling. The McFaulds Lake area is also host to other VMS occurrences,
discovered by Probe Mines Ltd. and MacDonald Mining and Exploration, as well as
nickel bearing chromitite with platinum group metals in a layered peridotite
geological setting as discovered by Spider, KWG and Freeewest in early 2006, and
the new reported occurrence of chalcopyrite and pyrrhotite in a cumulate
peridotite geological setting, recently discovered by Noront Resources Ltd.
There have been no assay results from the recent Noront discovery, so there is
no guarantee that there will be any results of economic significance.


UC is continuing to fund the exploration of this VMS camp by initially
concentrating their efforts on the McFaulds #3 and #1 occurrences, then they
advise that they will be looking at completing additional exploration on the
other occurrences as the program progresses, through year two, three and four of
the agreement. States Mr. Novak for Spider: "As a director of Noront and also
the VP of UC and President of Spider, Spider is able to monitor the exploration
progress of the discovery by Noront Resources Ltd. announced last week. The
Noront discovery attests to the discovery potential of this relatively
unexplored region of Ontario and now with the initial assays from the UC funded
drill program on McFauld's #3 VMS occurrence in hand, this further re-assures
that the McFaulds Lake area is an exciting place to be exploring. These drill
results, combined with the excitement that is surrounding the Noront exploration
program may provide the impetus necessary to entice the majors into this area
once again."


This press release has been prepared by management of Spider Resources Inc., and
has been approved for dissemination by Neil Novak P.Geo. of Cambridge, Ontario,
a Qualified Person under Canadian Securities guidelines, in his capacity as
President of Spider Resources Inc. and also as Vice President for UC Resources
Ltd.


Spider Resources Inc. is a tier 2 Canadian exploration company, quoted for
trading on the TSX Venture Exchange under the symbol SPQ. There are 242,193,535
shares issued in Spider as of June 30, 2007.


On behalf of the board of directors,

Neil Novak, President and CEO

This press release, required by applicable Canadian securities law, is not for
distribution to U.S. news services or for dissemination in the United States,
and does not constitute an offer of the securities described herein. These
securities have not been registered under the United States Securities Act of
1933, as amended, or any state securities laws, and may not be offered or sold
in the United States or to U.S. persons unless registered or exempt therefrom.


This press release includes certain "Forward-Looking Statements" within the
meaning of the US Private Securities Reform Act of 1995. Other than statements
of historical fact, all statements are "Forward-Looking Statements" that involve
such various known and unknown risks, uncertainties and other factors. There can
be no assurance that such statements will prove accurate. Results and future
events could differ materially from those anticipated in such statements.
Readers of this press release are cautioned not to place undue reliance on these
"Forward-Looking Statements". All dollar amounts are Canadian dollars unless
otherwise noted.

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