Massive Black Horse Chromite Discovery

Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

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Message: NI 43-101 TECHNICAL REPORT ON THE BIG DADDY CHROMITE DEPOSIT

NI 43-101 TECHNICAL REPORT ON THE BIG DADDY CHROMITE DEPOSIT

posted on Apr 17, 2009 12:32PM

Table 20.1 on page 66 of the following NI 43-101 has all the line by line budgetary items including things as small as ski doo rentals.

SPIDER RESOURCES INC. KWG RESOURCES INC. FREEWEST RESOURCES INC. McFAULDS LAKE JOINT VENTURE PROPERTY

*- NI 43-101 TECHNICAL REPORT ON THE BIG DADDY CHROMITE DEPOSIT AND ASSOCIATED Ni-Cu-PGE JAMES BAY LOWLANDS, NORTHERN ONTARIO

March 31, 2009 RICHARD GOWANS, P. Eng. CHARLEY MURAHWI, M.Sc., P. Geo., MAusIMM

"Exploration Budget For 2009

In pursuit of fulfilling the recommendations outlined above, the SKF JV has planned to spend a total of approximately CAD $5.8 million in two phases. Phase I ($0.8 M) will focus on (a) activities relating to and incorporating detailed ground geophysical surveys, (b) development of standard logging procedures plus drill hole survey checks/corrections and (c) preliminary metallurgical studies. Phase II ($5.0 M) primarily consists of delineation drilling including pilot metallurgical test-work and mineral resource development. Details on the breakdown are shown in Table 20.1 Micon endorses this budget in its entirety as it believes that it will define the lateral limits and morphology of the Big Daddy deposit not only in a systematic manner but also in the most cost effective way. Based on its own assessment, Micon also believes that the 2 km potential strike length of the Big Daddy chromite is worthy of further exploration. "

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