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) "Spider" and KWG Resources Inc. (TSX
VENTURE:KWG) "KWG" and Freewest Resources Canada Inc. (TSX VENTURE:FWR)
"Freewest" jointly announce that diamond drilling resumed on July 17th on their
jointly owned Freewest Option property (the "Property") located in Ontario's
James Bay Lowlands. Spider and KWG are funding this project as per a tri-party
joint venture agreement with Freewest.


The current drill program is designed to delineate the layered chrome occurrence
discovered by Spider and KWG in 2006 in a portion of a mafic / ultramafic
intrusive body who's magnetic signature and structure has been designated as the
Ring of Fire Intrusive ("RFI") and which hosts the Eagle One and the Eagle Two
Nickel Copper PGM occurrences of Noront as well as Noront's newly discovered
Blackbird One chrome occurrence announced on May 27, 2008 (drill hole #
NOT-08-1G17 includes 49.4 meters averaging 39.1% Cr2O3 (27.4% Cr) including
anomalous nickel and palladium).


The focus of the Spider-KWG drill program will be to further evaluate this
Cr-PGE-Ni occurrence, exploring it to greater depths and along strike and to
continue the testing of several of the other anomalies on the property. The
current drilling is approximately 3.5 kilometres northeast of Noront Resources
Ltd.'s ("Noront") Eagle One discovery where Noront recently announced (July 4,
2008) an indicated resource of 1.83 million tonnes with an average grade of
1.96% nickel, 1.18% copper, 1.12 g/t Pt, 3.91 g/t Pd, as well as an inferred
resource of 1.09 million tonnes with an average grade of 2.39% nickel, 1.27%
copper, 1.37 g/t Pt and 4.5 g/t Pd. The drilling is also located approximately
15 kilometres southwest of the McFaulds Lake volcanogenic massive sulphide
("VMS") occurrences where Spider, KWG and UC Resources Ltd. ("UC") announced an
indicated resource of 802,000 tonnes with an average grade of 3.75% copper and
1.1% zinc at their jointly owned McFaulds #3 deposit, (see press release dated
15 July 2008). 


As announced earlier by Spider KWG and Freewest (June 11, 2008) massive
chromitite layers were encountered in hole FW-08-07 (Cr2O3 grades as high as
30.73% over 14.4 metres) in an altered peridotite sill interpreted to be part of
the RFI, Other layers located within this Intrusive-complex show enrichment in
precious metals as high as 2.183 g/t (Pt + Pd + Au) over 9.0 metres and Nickel
up to 0.21% Nickel over 3.6 meters. For additional drill-hole results see our
press releases of May 2, 2008 and June 29, 2006.


In light of a regional exploration review and discussions with neighbouring
explorers, there is a consensus of opinion that the top of this chromitite
layered complex contained in the RFI is likely to the South East, with bottom
being towards the North West. Interpretation of the drilling within this portion
of the RFI suggests thickening of the chromitite layers to depth (as seen in
Noront's Black Bird drilling) and to the northeast. 


Chromitite (rock composed mostly of chromite) layers have been intersected in
holes FW-06-03, FW-08-05, FW-08-06 and FW-08-07. The chromitite layers now
appear to occur as steeply dipping stratiform layers with down dip extent of at
least 200 metres and strike length of at least 200 metres (lines 9+00E and
11+00E on the local grid). The chromitite layers vary from narrow seams, a few
centimetres thick to massive beds of chromitite greater than 14 metres in
drilled thickness (not true width). 


Chromitite layers typically accumulate in horizontal layers near the top of
peridotite sills and are positioned either laterally to and or above magmatic
massive sulphide (Ni-Cu) accumulations with respect to the feeder zone. Several
additional weakly mineralized (Ni-Cu) chromite enriched layers have also been
noted in the peridotite below the massive chromitite layers encountered in holes
3, 5, 6 and 7. With several intersections of massive chromitite encountered in
the earlier drilling, and those anticipated in the current drilling, the drill
results can be accurately modelled three dimensionally and analyzed to determine
section to section, as well as, hole to hole continuity. Lithogeochemical
analysis will also be undertaken in order to join up the various chromitite
layers to determine continuity of these potentially economic layers. 


The current drill program will in part infill the area between Section 10NE
(Holes 3 and 5) as well as 11NE (Hole 7) and 12NE on 50 metre centers. In order
to understand more fully the chemical characteristics of the occurrence and how
this impacts chrome valuation. Whole rock analysis of the chrome enriched core
must also be undertaken to determine silicate, sulphur and iron content, as
these elements affect value of the rock.


Results of ground geophysical surveying coupled with various airborne surveys
will be used to design additional drilling on this occurrence as well as testing
other anomalies on the rest of the property where we hope to duplicate the
success in locating accumulations of Nickel and Copper in the interpreted floor
of the RFI sill complex.


SAMPLE PROTOCOL, SECURITY, ANALYSES

All drill holes were logged and samples referred to herein were completed and
selected by Howard Lahti Ph.D., P.Geo, of Fredericton New Brunswick. The samples
were sawn in half, with half of the core retained for further work and/or
storage at the main base camp. The split samples were placed into individual
plastic bags, clearly labelled and tagged and then sealed in rice bags where a
numbered seal lock was closed by Dr. Lahti. The sealed rice bags were placed in
plastic sealed pails and shipped via bonded carrier to Activation Laboratory's
(ActLab) new facility in Thunder Bay, Ontario. The samples were then entered
into ActLab's system for preparation, processing and analyzing. After initial
processing at the Thunder Bay facility of ActLab the samples were shipped via
lab - lab bonded courier to ActLab's main laboratory in Ancaster, Ontario. The
samples all underwent multi-element analysis using four acid digestion followed
by Inductively Coupled Plasma analysis (TD-ICP). Where overlimits in nickel and
copper are encountered in the first pass, Optical Emission Spectrometry
(ICP-OES) is used to provide the overlimit results, as well as Fire Assay
Inductively Coupled Plasma (FA-ICP) for gold, platinum and palladium. Additional
analysis using Instrumental Neutron Activation Analysis (INAA) was completed for
all samples for their respective chrome grades in excess of 1% chrome. For more
information on these analytical techniques please refer to Activation Laboratory
website www.actlabs.com.


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 310,311,767 shares
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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