Under the option agreement, Spider and joint venture partner, KWG, must each deliver 150,000 shares and $25,000 for the right to individually earn a 25-per-cent interest by each incurring $100,000 of exploration expenditures by Feb. 28, 2006, and a combined total of $3-million by Oct. 31, 2009. Thereafter, the parties may earn an additional combined 10-per-cent interest upon subsequent delivery of a bankable feasibility study. The parties may then increase their combined interest to 65 per cent for arranging production financing. During November Spider made the initial $25,000 cash payment in good faith, and will be issuing 150,000 shares of Spider to Freewest once the agreement receives regulatory approval. KWG has agreed with Freewest to deliver 500,000 additional treasury shares in lieu of the initial cash option payment. In total, KWG Resources Inc. has agreed to issue 650,000 treasury shares to

From this PR and The April 8, 2008 PR, It appears SPQ and KWG are getting very close to the $ 3 million threshold. When they reach that number:

SPQ- 25%

KWG- 25%

FWR- 50%

Not bad at all.