Page 11 - Notice of Annual and Special Meeting of Shareholders of Spider Resources Inc."

"As the Company relies on equity markets for capitalization, management is of the view that the proposed Consolidation addresses the dilutive consequences of a large outstanding number of Common Shares. Management is also of the view that the Consolidation would address the concern that low prices create larger bid / ask spreads which encourages non-synergistic, low value speculative trading and volatility which is unrelated to news and developments within the company."

In short, the Management believes that share consolidation will address two concerns: 1) the dilutive nature of 310 million outstanding Common shares, and 2) the low value speculative trading and volatility.

First, the Special Resolution needs to be approved before it can be (potentially) implemented.

"If the Share Consolidation Resolution is approved, the Consolidation will be implemented only upon a determination by the Company's board of directors that the Consolidation is in the best interests of the Comany and its shareholders at the time." (page 11)

Each Spider Resources has one vote per share. So, if this Special Resolution is important to you, you must vote either in person at the AGM or via a Proxy.

When you receive your mailing, which includes the 2007 Annual Report, Notice of Annual Meeting, and Proxy Solicited by Management form, review them carefully. You can vote Online using the enclosed Proxy form (it has your mailing address on it). This form includes the number of shares owned by you and a "control number" (above your name in the address). Then you go to www.voteproxyonline.com .

It should be carefully noted (once again on page 11) that even if the Special Resolution is voted FOR at the AGM, it will not necessarily be impremented. So why is the tactic even being considered?

IMHO, I believe that one reason this tactic is being employed to warn daytraders that they might get caught off-guard. Perhaps they buy 100K of shares for $8K (8 cents per share) and then find themselves with a 1 for 10 consolidation. Now they have to sell their 10K of shares for at least 10 cents more per share to make a measly $1000. It will be a great deal more difficult when the share price is 80 cents and there are only 31 million outstanding shares. (Remember, this is only an example.)

Management has the flexibility to implement this resolution at any time up until the end of this year.

In all honesty, if I was going to implement this Special Resolution, I would consider "full medicine" i.e., 1 for 10. If Spider Resources is really concerned about share dilution and daytrading - and share price continues to languish - hit them hard. IMHO, 1 for 3 or 1 for 4 might be just too wishy-washy. Remember, to daytrade 100,000 shares at 80 cents per share will cost .... you guessed it .... $80,000.

I hope you have a large bank account, Mr. Daytrader.

Finally, I have read the 2007 Annual Report for Spider Resources again. And I am blown away by the potential for this company. The Freewest Option drilling program alone, and the present data for mineralization from holes 5-7 is mind-blowing [how do you spell rhodium?]. Moreover, hole number 8 (and possibly others) are being drilled on another anomaly.

Jeez, "Wake up and smell the coffee folks". The potential upside for SPQ is ... well, how does one say it .... humungous!!!

So, get your proxy votes in. Let management hear how you feel. "No vote. No say." And don't come whining to the Spider Resources Agoracom hub, if you haven't pitched your vote.

Comments welcome.

Snug