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posted on Apr 30, 09 05:30AM

Spider Resources Inc.

TSX VENTURE: SPQ

Apr 30, 2009 09:24 ET

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

TORONTO, ONTARIO--(Marketwire - April 30, 2009) -

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