Chatted with Neil today and there is not much to report with regards to Spider Resources.

1) Asked about the 43-101 - it's in draft form at this point - I knew this from PDAC

2) Asked about the private placement - he hasn't got any information on the pp

3) Asked about UC Resources JV - he's expecting Jim Voisin to contact him with geophysics results at his McFaulds East site - discussions will then take place about the most likely drill targets

I phoned Mike White at IBK but he wasn't in. Will phone again at another time in order to try to get some information on the SPQ private placement. I will also try to contact Jim Voisin with regards to the progress of his geophysics program.

It is my opinion that Neil Novak is working hard at Noront. Should Noront come up with some good news, this should spur the completion of the private placement. Only when the private placement is completed will Neil focus more attention on Spider Resources. At this time, I doubt whether he is even aware of the actual share price or volume.

Good news? Bad news? Neither. Simply no news. IMHO

However, Neil knows he has a pile of good stuff in the ground at the Freewest JV. Moreover, things are ticking within Noront and Freewest. Spider Resources will follow along with what the bigs boys do.

IMHO

Snug