The smart investor will try to answer the question"Why buy/hold SPQ?" by doing some really good personal due diligence. Clearly a 5 1/2 cent share price is attractive for the uninformed gambler. (Then one could say the same for Nortel when it was $120.)

What things should an SPQ investor NOT be?

1) Risk averse

2) Impatient

3) Poor with simple arithmetic

Since it is the "dog days" of summer here in the northern hemisphere, I think it would a good idea for all Spider Resources' investors and potential investors to shake their heads and ask the question, "Why buy/hold SPQ?"

Here are some thoughts:

a) large number of JV claims units (2762 - 44192 hectares) in the "southern tier" of the hottest area play in Canada - the "Ring of Fire"

b) CDN$4+ million in venture captital to drill the Freewest Option where there is nickel and chrome (30.73% Cr2O3 over 14.4 meters)

c) $450,000 for each month of drilling at the Option, and is using the chrome "lens" to help him find more nickel, copper, and PGEs

d) Neil Novak (Spider Resources CEO) is acknowledged to be one of the best geologists in the Ring of Fire - he is helping other geologists to define a brand new geological model for the ROF

e) Neil also found the original kimberlites in the area and continues to consult with other companies on the topic of "diamonds" (KWG, Renforth)

f) In 2007 Neil had already found 4.35% Zn, 2.69% Cu, 0.35% g/t Au, and 6.63 g/t Ag over 19 Metres on it's JV VMS claims with UC Resources, which will be drilling this fall time

g) The Freewest Option drilling program is found along the "southern tier" RFI (Ring of Fire Intrusion) which runs over 11 kms from Noront's Eagle One discovery (and probably includes PRB's claim), through Fancamp's claims, and includes Freewest's 100% owned claim (above the JV option), and probably the new Noront AT12(?) strike.

As I have said before, SPQ is not for the timid investor. If you categorize yourself as timid, might I suggest that you invest in a T-Bill or a GIC (guaranteed investment certificate). There is no doubt about it, SPQ is very, very risky junior mining play.

Happily though, along with high risk comes potentially high reward - possibly very, very high reward. From what I know of Neil Novak (and his close associates Richard Nemis and Mac Watson), I think the "potential" is very good.

Oh by the way, do you know the guy who does not epitomize "risk averse", "impatient", and "poor with simple arithmetic"? It's Neil Novak. Phone him some day and ask him how much time he's spent with mosquitoes and muskeg, what he bought his last warrants at, and how he uses diffential calculus to pinpoint his drill bit along the RFI.

Simply my opinions. Due your own DD.

Snug