Toronto, Canada – February 4, 2008 – Spider Resources Inc. (TSXV-SPQ) and KWG Resources Inc. (TSXVKWG)

exploration program on the Freewest option property (the “Property”), located approximately 15 kilometers southwest

of the McFaulds Lake volcanogenic massive sulphide ("VMS") occurrences of Spider and KWG and approximately

3.6 kilometers northeast of Noront Resources Ltd.’s Eagle One Magmatic Massive Sulphide (“MMS”) discovery in the

James Bay Lowlands region of Northern Ontario.

The joint venture partners (Spider and KWG) last completed field work on this property in 2006, that included a

diamond drill program resulting in the discovery of a layered chromitite bearing, nickel enriched peridotite (See press

release dated March 7, 2006). Assay results received later (see press release dated June 29, 2006) confirmed that

the layering within this peridotite was enriched in chrome, nickel, as well as Platinum Group Elements (“PGE’s”). The

2006 winter exploration program was highlighted by the discovery of two massive chromitite layers hosted within

peridotite, encountered while drilling ground geophysical anomalies targeting volcanic-hosted massive sulphide

deposits (drill hole FW-06-03). The drilling returned the following assays:

22.70% chrome, 0.17 g/t platinum, 0.24 g/t

palladium over 1.05 metres1

23.70% chrome, 0.21 g/t platinum, 0.46 g/t

palladium over 0.60 metres1

Subsequent re-analyses of selected samples and some additional assaying of the drill core from the 2 chromitite

layers and intervening wall rock in the peridotite was later completed by Actlabs. The analyses yielded the following

results.

23.40% chrome, 0.19 g/t platinum, 0.21 g/t

palladium, 0.32 g/t ruthenium, 0.05 g/t

rhodium, 0.12% nickel over 1.03 metres2

18.60% chrome, 0.23 g/t platinum, 0.48 g/t

palladium, 0.30 g/t ruthenium, 0.05 g/t

rhodium, 0.13% nickel over 0.85 metres2

The additional assaying completed on the entire mineralized zone in the peridotite, including the upper and lower

chromitite layers yields 4.05% chrome and 0.17% nickel over a core length of 16.85 metres. This chrome-platinum

group element-nickel discovery was the first of its kind in the McFauld’s Lake area of the Sachigo Greenstone Belt.

The host peridotite contains variable amounts of magnetite as disseminations and seams and elicits a strong

magnetic signature. Such a magnetic high has dimensions of 400 metres by 400 metres and due to both the

dimensions, and the peridoitite setting similarity to Eagle One this becomes an attractive exploration target for

additional work directed at chrome-platinum group element-nickel mineralization.

Under the terms of an agreement with Freewest (see press release December 19, 2005), Spider and KWG must

spend an aggregate of $3.0 million on exploration over a four-year period to earn an initial joint 50% interest in the

Property. They may earn a cumulative joint 60% interest in the Property by delivering a bankable feasibility study on

any mineralization identified and subsequently a cumulative joint 65% interest, by arranging financing on behalf of

Freewest to put the Property into commercial production. An initial $200,000 needed to be expended on the property

by February 28, 2006. The early 2006 work program covered this initial earn-in allowing the option to continue where