Spider Resources Inc. TSX VENTURE: SPQ

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

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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