Spider Resources Inc. Announces Brokered Private Placement of Flowthrough Common Shares

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. ("Spider") (TSX VENTURE:SPQ), is pleased to announce that
it has entered into an agreement with IBK Capital Corp. ("IBK"), whereby IBK
will place up to 78,750,000 common shares (issued on a flow-through basis) of
Spider on a best efforts basis for gross proceeds of up to $3,937,500 by way of
a private placement.


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
316,211,767 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.

Spider Resources Com (TSXV:SPQ)
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