SPQ Spider Resources Com

Spider Resources Inc. ("Spider") (TSX VENTURE:SPQ), is pleased to announce that
it has entered into an agreement with IBK Capital Corp. to complete a private
placement, on a best efforts agency basis, of up to 10,000,000 flow-through
units at a price of $0.05 per unit, each unit consisting of one common share of
Spider (issued on a flow-through basis) and one common share purchase warrant.
Each common share purchase warrant entitles the holder to purchase one common
share of Spider (which share shall not be issued on a flow-through basis) at a
price of $0.05 for a period of one year from the date of issue and thereafter at
a price of $0.10 for a period of two years from the date of issue.


Spider will pay a cash commission and issue broker's warrants to IBK Capital
Corp. in connection with the private placement in accordance with TSX Venture
Exchange policies. The securities issued under the private placement will be
subject to a hold period from the date of issuance in accordance with applicable
securities laws and TSX Venture Exchange policies. The private placement is
subject to regulatory approval, including that of the TSX Venture Exchange.


Proceeds raised through this private placement will be used to finance an
expanded exploration program on Spider's projects in the McFauld's Lake area.


About Spider Resources Inc.

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

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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