FAX sent to Spider Resources

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SnugTheJoiner

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FAX sent to Spider Resources

posted on Jun 16, 2008 06:33AM

Find below the text of my FAX sent to Neil Novak at Spider Resources this morning here in Toronto.

Snug

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June 16, 2008

Neil Novak

CEO, Spider Resources

Toronto, Ontario

Dear Mr. Novak:

A very active number of shareholders have some questions which they would like you and the rest of the Board of Directors to consider leading up to the AGM. Perhaps discussion at the AGM can include consideration of and answers to these questions.

I want to make it very clear that the retail shareholders I chat with on a daily basis are vitally interested in both the strong growth of Spider Resources and wealth generation for all. So these questions are posed in a very supportive manner. Here are a couple of quotes from shareholders I talk with.”

“Note that these interests are not divisive in nature. They are a clear demonstration of extremely strong support for the past and apparent future business of the Company.”

“This is the time to let the Management of this company know we, the Share Holders, are TRULY very appreciative of their excellent qualities, skills, and determination!”

Resolution #12 Question (three part)

Why does Spider Resources see a need for Resolution #12, and the potential of a reverse split?

If there is a reverse split, at what level has Spider Resources determined is the most advantageous to existing shareholders?

If there is a concensus for a reverse split, will Spider Resources provide all existing shareholders with the right of first refusal should they proceed within two years of the reverse split to look for a private placement?

Shareholders Right Plan

Is Spider Resources considering a shareholder rights plan along the similar lines to the one instituted by Noront Resources?

Discussions with another Corporation

Has Spider Resources along with other ROF area players been involved in discussions with a major?

If so, can Spider Resources provide any information on the ROF players and the major?

Investor Relations

Does Spider Resources plan on hiring a investor relations person in the near future?

I look forward to meeting and chatting with you and the other Directors at the AGM.