SPQ Spider Resources Com

Spider Resources Inc. (TSX VENTURE:SPQ) "Spider" and KWG Resources Inc. (TSX
VENTURE:KWG) "KWG" and Freewest Resources Canada Inc. (TSX VENTURE:FWR)
"Freewest" are pleased to announce the progress of the diamond drilling program
on their jointly owned Freewest Option property (the "Property"), located
approximately 15 kilometres southwest of the McFaulds Lake volcanogenic massive
sulphide ("VMS") occurrences discovered by Spider and KWG and approximately 3.6
kilometres northeast of Noront Resources Ltd.'s ("Noront") Eagle One Magmatic
Massive Sulphide ("MMS") discovery, in the James Bay Lowlands region of Northern
Ontario.


This diamond drilling program has started the drill test work around the
chrome-nickel-platinum group metal bearing peridotite previously discovered by
Spider and KWG in 2006, which has many similarities to the new discovery (Eagle
Two) of Noront. Billiken Management Services Inc. ("Billiken") has been retained
to complete the field program under the onsite supervision of Dr. Howard Lahti,
P.Geo., of Fredricton New Brunswick. The approved budget for the program is $2.4
million, the cost of which will be shared 50:50 between Spider and KWG, after
which an additional exploration program with related costs may be recommended as
a result of the first phase of the program.


Three holes, numbered FW-08-05, FW-08-06 and FW-08-07 have been completed
totalling 1,117 meters and hole FW08-08 is underway to test a new anomaly
located approximately 1 kilometre to the northeast of the chromitite layered
peridotite, along the magnetically inferred "Ring of Fire".


Hole FW-08-05 was designed to undercut hole FW-06-03, drilled at an inclination
of -50, with an azimuth of 150 degrees, total depth of 327 meters. This hole was
collared in overburden and entered granodiorite at 17.5 meters, then intersected
peridotite at 46.5 meters. The hole remained in peridotite until it intersected
three massive chromitite layers between 252.2 and 273.1, each being around 1
meter wide, within the peridotite. This intersection was followed by a very
thick massive chromitite layer between 291.4 and 298.8 in fault (gouge) contact
with underlying intermediate tuff (volcanic rocks). Pyrrhotite and chalcopyrite
mineralization was observed in a short shear zone in peridotite between 69.1 and
69.3 meters. Hole FW-08-06, located 100 meters grid west of FW-08-05, was
drilled at an inclination of -50, with an azimuth of 150 degrees, to a total
depth 384 meters, being the maximum length for the drill being utilized when
drilling NQ core. The hole was collared in limestone, entered granodiorite at
17.8 meters, then intersected peridotite at 103.3 meters. At 330.2 meters,
massive chromitite layering starts, interstitial rock at this location is
described as pyroxenite/peridotite with local thin bands of massive magnetite.
At 346.5 to 384 meters the rock is pyroxenite with short (1 m) chromitite beds,
and erratic patches of fine grained pyrrhotite and pyrite throughout.


Hole FW-08-07, located 100 meters grid east of FW-08-05, was drilled at an
inclination of -50, with an azimuth of 150 degrees. This hole was drilled to a
final depth of 405.7 meters. Hole 7 encountered peridotite right away at 10
meter core length and the hole remained in peridotite until 194.7m. Chromitite
layering started in a Pyroxenite, followed by short chromitite layers between
194.7 to 195 meters, and between 197.8 to 205.5 meters, followed by a thick bed
of chromitite between 209.8 to 223.3 meters. This hole continued in pyroxenite
until 300 meters where the hole entered gabbro and remained in this rock unit
until 405.7 meters.


As stated in earlier press releases, nine separate SW-NE trending magnetically
and electromagnetically rendered anomalies were identified within the limits of
the property, as described within an Interim report prepared by Scott Hogg and
Associates of Toronto Ontario previously announced on February 22, 2008, most of
which warranted additional follow-up. Line-cutting has recently been completed
over the entire property, ground geophysical surveying including magnetic,
electromagnetic (VLF) and MaxMin electromagnetics continues and has been
completed on the western portion of the property in the vicinity of the initial
three drill sites, as well as the fourth site, results of which are being used
to plan additional drilling in this area as well as other areas nearby.


Previous exploration work on the property included a diamond drill program
resulting in the discovery of a layered chromitite-bearing, nickel and platinum
group element (PGE) enriched peridotite. A previous press release dated February
4, 2008 describes the analytical results. This chrome-PGE-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. The magnetic high has dimensions
of 400 metres by 400 metres and due to both these dimensions, and the peridotite
setting similarity to Noront's Eagle One MMS discovery (located 3.6 km to the
SE), as well as the newly discovered Eagle Two sheared massive sulphide
occurrence, (located 2 km to the SE of Eagle One) which also contains chromitite
layering; this occurrence has become a very attractive exploration target for
additional work directed at chrome-PGE-nickel mineralization. Noront's
peridotite sill, announced on April 2, is rendered by airborne geophysics to
continue to the east-north-east of their Eagle One occurrence towards and
through the Freewest Option property of Spider and KWG. The focus of the current
drilling program will be to further investigate this Cr-PGE-Ni occurrence and to
test several of the other anomalies on the property.


Neil Novak, P.Geo., President of Spider, accompanied by Donald Hoy, P.Geo.,
Vice-President of Exploration for Freewest, visited the project from March 25 to
March 27 to get updated and continue planning the exploration program for the
project.


The terms of the agreement with Freewest are disclosed in earlier press releases
(see press release December 19, 2005, as well press release dated February 4,
2008).


This press release has been prepared by management of Spider Resources Inc.,
which is the Operator of the joint venture with KWG during 2008, 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, who
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 303,216,017 shares
issued in Spider.


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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