Spider Resources Inc. Announces Results of Shareholder Meeting

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. (TSX VENTURE:SPQ) is pleased to announce the results of
its annual and special general meeting held in Toronto last week (the
"Meeting"). All of the current directors of Spider were re-elected for a further
term, as were the auditors of the corporation. The proposed resolution which
would have authorized the board of directors of Spider to proceed with a
consolidation of Spider's common shares on certain terms as described in greater
detail in the management information circular sent out in connection with the
Meeting was defeated by 37,633,693 common shares voted against the resolution to
30,687,806 common shares voted in favour of the resolution at the meeting. As
the resolution was defeated, the consolidation of Spider's common shares will
not go forward.


The following officers will hold office for the ensuing year, or until their
successors are appointed:




Earl Coleman                  Chairman

Neil Novak                    President and Chief Executive Officer

Carmelo Marrelli              Chief Financial Officer

Richard Hamelin               Vice President Finance

Carmen Diges                  Corporate Secretary



The Executive positions will be reconfirmed as well as various committees at the
next Board of Directors meeting of the Corporation.


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
310,311,767 shares issued in Spider.


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.