Spider Resources Inc. Announces Completion of Flow-Through Private Placement with the MineralFields Group

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 the
completion of a private placement with the MineralFields Group of 25,000,000
flow-through units at a price of $0.03 per unit, for gross proceeds of $750,000,
subject to receipt of final regulatory approvals. The private placement is the
second tranche of a larger offering of up to 73,333,333 flow-through units (the
"Offering") (see press release of July 30, 2009). Each unit consists of one
common share (issued on a flow-through basis) and one-half of one common share
purchase warrant. Each full warrant entitles the holder to acquire one common
share (which share shall not be issued on a flow-through basis) at a price of
$0.05 for a period of one year from the date of issue and thereafter at a price
of $0.10 for a period of two years from the date of issue.


Spider engaged Limited Market Dealer Inc. to complete the second tranche of the
Offering on a best efforts agency basis. Limited Market Dealer Inc. was paid an
aggregate cash commission of $37,500 and was issued 2,500,000 broker options
("Broker Options"). Each Broker Option is exercisable for one unit ("Option
Unit") at a price of $0.03 for a period of one year from the date of issue and
thereafter at a price of $0.06 for a period of two years from the date of issue.
Each Option Unit consists of one Common Share and one-half of one
non-transferable common share purchase warrant. Each full warrant will be
exercisable for one Common Share at a price of $0.05 for a period of one year
from the date of issue and thereafter at a price of $0.10 for a period of 24
months from the date of issue.


The securities issued under the private placement are subject to a hold period
from the date of issuance until December 8, 2009 in accordance with applicable
securities laws and TSX Venture Exchange policies.


"We are very pleased to be entering into this relationship with the
MineralFields Group", said Neil Novak, President and CEO of Spider. "This is an
important milestone in the growth of Spider and we look forward to working with
the MineralFields Group going forward."


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
364,545,100 common shares issued in Spider.


About MineralFields, Pathway and First Canadian Securities (R)

MineralFields Group (a division of Pathway Asset Management), based in Toronto
and Vancouver, is a mining fund with significant assets under administration
that offers its tax-advantaged super flow-through limited partnerships to
investors throughout Canada as well as hard-dollar resource limited partnerships
to investors throughout the world. Pathway Asset Management also specializes in
the manufacturing and distribution of structured products and mutual funds
(including the Pathway Multi Series Funds Inc. corporate-class mutual fund
series). Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities (R) is active in leading
resource financings (both flow-through and hard dollar PIPE financings) on
competitive, effective and service-friendly terms, and offers investment
banking, mergers and acquisitions, and mining industry consulting, services to
resource companies. MineralFields and Pathway have financed several hundred
mining and oil and gas exploration companies to date through First Canadian
Securities (R).


On behalf of the board of directors,

Neil Novak, President and CEO

These securities have not been registered under the United States Securities Act
of 1933, as amended, or any state securities laws, and may not be offered or
sold in the United States or to U.S. persons unless registered or exempt
therefrom.


This press release includes certain "Forward-Looking Statements" within the
meaning of the US Private Securities Reform Act of 1995. Other than statements
of historical fact, all statements are "Forward-Looking Statements" that involve
such various known and unknown risks, uncertainties and other factors. There can
be no assurance that such statements will prove accurate. Results and future
events could differ materially from those anticipated in such statements.
Readers of this press release are cautioned not to place undue reliance on these
"Forward-Looking Statements". All dollar amounts are Canadian dollars unless
otherwise noted.