Most of you probably have read this post on the NOT site. If not, have a read because it has very positive implications for Spider Resouces.

http://agoracom.com/ir/Noront/messag...

In February 2007 at prospector's conference in Toronto, I heard John Kaiser speak about "The Next Great Canadian Area Play" - McFaulds Lake and the Ring of Fire (ROF). Around the same time I also read his newsletter post on the next GCAP. His excellent grasp of the geology of the ROF, and his understanding of the challenging world of the junior explorer at McFaulds has given me confidence for the "long play".

It is not without big risk, however. Any LONG knows this. But here's the important line from ROOS post: "The missing ingredient is confirmation that this final exploration frontier does indeed host multiple Eagle One style deposits..."

Why's this important? One word answer - tonnage.

However, what's the likelihood of another Eagle One aka "The Glory Hole"? I think the likelihood is very strong. Why?

Consider four simple points:

1) Who are the management and geologists for Noront, Freewest, and Spider Resources? Have the teams, including their finance and legal people, been augmented recently? Why? The LONGs know. The LONGs have done their due diligence.

2) How many really good (I mean really good!) anomalies are found within the land claims of Noront, Freewest, and Spider Resources? Many. VTEM and geophysical tests are discovering these anomalies every day. 'Nuf' said.

3) To this point, how many drill holes have these players put into the ROF? Hundred? Two hundred? Not many. But the count is growing. Clearly the LONGS know that the likelihood of finding another E1 increasing with the number of cores pulled from the James Bay Lowlands.

4) How much exploration money is available to NOT, FWR, and SPQ? With the money they already have, we know these guys can probably drill through the winter of 2009.

By the Spring of 2009, many assays and a number of 43-101s will have been issued, and the precious metals and base metals markets will have stabilized.

In early November 2007, at about the time of Noront's last AGM, Richard Nemis talked of a 12-18 month strategy, his plan for drilling the ROF, and potential discussions with "The BIGS". A few things have changed, some twists have been added to the strategy, but it's still there. The Spring of 2009.

And so is Spider Resources. Ah yes, a smaller player, no doubt. But well connected, and with lots of land. Think about it. Again.

All IMHO.

Snug