SPQ Spider Resources Com

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.


Spider Resources Inc. (TSX VENTURE:SPQ) and KWG Resources Inc. (TSX VENTURE:KWG)
and Freewest Resources Canada Inc. (TSX VENTURE:FWR) are pleased to announce the
startup of their 2008 winter exploration program on the Freewest option property
(the "Property"), located approximately 15 kilometers southwest of the McFaulds
Lake volcanogenic massive sulphide ("VMS") occurrences of Spider and KWG and
approximately 3.6 kilometers northeast of Noront Resources Ltd.'s Eagle One
Magmatic Massive Sulphide ("MMS") discovery in the James Bay Lowlands region of
Northern Ontario.


The joint venture partners (Spider and KWG) last completed field work on this
property in 2006, that included a diamond drill program resulting in the
discovery of a layered chromitite bearing, nickel enriched peridotite (See press
release dated March 7, 2006). Assay results received later (see press release
dated June 29, 2006) confirmed that the layering within this peridotite was
enriched in chrome, nickel, as well as Platinum Group Elements ("PGE's"). The
2006 winter exploration program was highlighted by the discovery of two massive
chromitite layers hosted within peridotite, encountered while drilling ground
geophysical anomalies targeting volcanic-hosted massive sulphide deposits (drill
hole FW-06-03). The drilling returned the following assays:




---------------------------------------------------------------------------
    Upper Chromitite Layer                       Lower Chromitite Layer
---------------------------------------------------------------------------
22.70% chrome, 0.17 g/t platinum,        23.70% chrome, 0.21 g/t platinum,
0.24 g/t palladium over                            0.46 g/t palladium over
1.05 metres(1)                                               0.60 metres(1)
---------------------------------------------------------------------------



(1) Assays performed by ALS Chemex of Vancouver, B.C, utilizing multi-acid ICP
techniques for low and higher grades on samples selected, bagged and tagged and
sent by bonded courier to the lab, under the supervision of Howard Lahti Ph.D.
P.Geo. of Fredericton New Brunswick.


Subsequent re-analyses of selected samples and some additional assaying of the
drill core from the 2 chromitite layers and intervening wall rock in the
peridotite was later completed by Actlabs. The analyses yielded the following
results.




---------------------------------------------------------------------------
      Upper Chromitite Layer                   Lower Chromitite Layer
---------------------------------------------------------------------------
23.40% chrome, 0.19 g/t platinum,         18.60% chrome, 0.23 g/t platinum,
0.21 g/t palladium, 0.32 g/t ruthenium,        0.48 g/t palladium, 0.30 g/t
0.05 g/t rhodium, 0.12% nickel                 ruthenium, 0.05 g/t rhodium,
over 1.03 metres(2)                        0.13% nickel over 0.85 metres(2)
---------------------------------------------------------------------------



(2) Assays performed by Actlabs of Ancaster, Ontario, utilizing INAA for chrome,
sodium peroxide fusion and ICP analysis for nickel and nickel sulphide fire
assay technique for PGE's on samples selected, bagged and tagged and sent by
bonded courier to the lab, under the supervision of Howard Lahti Ph.D. P.Geo of
Frederiction New Brunswick overseeing the lab to lab delivery of samples.


The additional assaying completed on the entire mineralized zone in the
peridotite, including the upper and lower chromitite layers yields 4.05% chrome
and 0.17% nickel over a core length of 16.85 metres. This chrome-platinum group
element-nickel discovery was the first of its kind in the McFauld's Lake area of
the Sachigo Greenstone Belt. The host peridotite contains variable amounts of
magnetite as disseminations and seams and elicits a strong magnetic signature.
Such a magnetic high has dimensions of 400 metres by 400 metres and due to both
the dimensions, and the peridoitite setting similarity to Eagle One this becomes
an attractive exploration target for additional work directed at chrome-platinum
group element-nickel mineralization.


Under the terms of an agreement with Freewest (see press release December 19,
2005), Spider and KWG must spend an aggregate of $3.0 million on exploration
over a four-year period to earn an initial joint 50% interest in the Property.
They may earn a cumulative joint 60% interest in the Property by delivering a
bankable feasibility study on any mineralization identified and subsequently a
cumulative joint 65% interest, by arranging financing on behalf of Freewest to
put the Property into commercial production. An initial $200,000 needed to be
expended on the property by February 28, 2006. The early 2006 work program
covered this initial earn-in allowing the option to continue where an additional
$2.8 million needs to be expended prior to the end of October 2009 to complete
the initial option requirement to earn 50% in this project from Freewest. Spider
and KWG are in agreement and are sharing the cost of the current program on a
50:50 basis, each contributing an additional $1.08 million to the project for a
total exploration expenditure of $2.16 million to be incurred in the current
program (estimated to be completed by May 2008). Both parties are well funded to
complete this program.


The initial field crew arrived on site in late January and commenced
re-identification of the claim boundaries prior to starting a detail
line-cutting program. A property wide grid with 200 meter line spacing is
currently being established, initially focussing on the western portion of the
property covering the peridotite in the vicinity of 2006 drill hole FW-06-03,
where the grid will be detailed at 100 meter spaced lines. Upon completion of
the detail grid area, horizontal loop electromagnetic (HLEM), along with
Magnetic and VLF electromagnetic ground surveying will be completed. Drilling is
scheduled to start during February, once the initial geophysical surveying is
complete. Initial holes will test the layered peridotite and explore this
exciting occurrence for its MMS potential. Preliminary maps produced from the
recent Aerotem2 airborne survey have been reviewed and are being used to plan
the exploration of the remainder o of the property. Several other similar
anomalies are evident in this early review, however these need to be confirmed
in the final delivered airborne survey report. The field operations and eventual
drilling are currently under the auspices of Billiken Management Services Inc,
of Toronto, Ontario.


States Neil Novak, president of Spider "Our joint venture is looking forward to
the resumption of drilling on this exciting project, particularly in light of
the continued success that our neighbour to the southwest is having on its Eagle
One occurrence. Magmatic massive sulphides occur in clusters and from our
recently completed Aerotem2 survey there appears to be similar looking anomalies
on the Freewest option property, any one of which could be the site of the next
discovery. Hole FW-06-02 is almost entirely in peridoitite, part of our initial
program will be test all of the peridoitite for Platinum Group Elements."


This press release has been prepared by management of Spider Resources Inc. and
has been approved for dissemination by Neil Novak P.Geo, President of Spider and
a Qualified Person as such term is defined under National Instrument 43-101, has
reviewed and verified the technical information contained in this press release
and has approved the contents of this press release.


Spider Resources Inc. is a tier 2 Canadian exploration company, quoted for
trading on the TSX Venture Exchange under the symbol SPQ. There are currently
301,184,917shares issued in Spider.


On behalf of the board of directors,

Neil Novak, President and CEO

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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