Just got off the phone with Jim Voisin (Investor Relations) for SPQ.

With regards to assays for holes drilled on Spider's land, the handing of these assays is the responsibility of UC Resources (since they funded the drilling.) Therefore, the issuing of any press releases will come from them. However, Jim indicated to me that to the best of his knowledge, these results may come next week.

Jim also indicated that Spider is "cashed up" for the winter drilling season. He did say though if SPQ's share price went ballistic that Spider might go to the market for more financing. I think this would be smart thinking although more dilutive. However, more $$$ would equate to more drill holes, which would give all of us better info on what's in the ground.

We talked about the TDEM surveys being done, and Jim said that they are being completed at this time with 100 meter spacing. It is a very expensive project but the cost is being borne proportionately amongst all juniors involved in McFaulds "Ring of Fire".

I asked Jim about who's been staking, and whether Spider has had people involved. He said "No. Why stake moose pasture?" Spider was in there first and to his way of thinking has the best land. (By the way, moose don't go that far north, so we would have to refer to it as "elk pasture!)

Finally, Jim thinks any comparison to Voisey's Bay is highly speculative. "How can you tell that on 6 or 7 drill holes?" He's got a point. So don't let passion rule the day. As the Fram filter ad says, "Just the facts, ma'am, just the facts."

Snug