The information in my post was from Neil Novak taken from a conversation via telephone. Yellowknifer confirmed this information in another telephone conversation with Neil.

I would like to suggest that you make a personal telephone call to Neil in Toronto asking him to clarify the wording of the news release, specifically the paragraph:

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.

Perhaps there is an assumption about the phrase "expanded exploration program". Personal interpretation of this wording is prone to error.

Specifically you need to find out two things 1) whether the now-silent drill will start up again in 2009 using the new flowthrough funds, and 2) what directions the BOD gave Neil in asking IBK for this new money.

My understanding from my conversation directly with Neil that there are no further intentions to do anymore drilling at this point, and that the pp money will be used for a new 43-101 and more geophysical testing (as per BOD request).

If I have erred, I apologize; however, I look forward to reading your findings here on the Spider board correcting my mistakes after you've had your conversation with Neil.

Snug