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SPIDER RESOURCES INC. ENTERS INTO INVESTOR RELATIONS AGREEMENT WITH INVESTOR CUBED INC., ANNOUNCES GRANT OF STOCK OPTIONS

13:00 EST Monday, December 21, 2009

(via Thenewswire.ca)

TORONTO, ONTARIO - December 21, 2009 - Spider Resources Inc. (SPQ:TSX-V) ("Spider") is pleased to announce that it has engaged Investor Cubed Inc. ("Investor Cubed") to provide investor communications, shareholder information and public relations services effective December 1, 2009.

In connection with the engagement, Investor Cubed has been awarded a consulting contract for $4,500 per month for a term of twelve months. In addition, Investor Cubed has been granted 2,000,000 stock options at a price of $0.10. The options shall vest quarterly over a period of two years, subject to regulatory approval and shall expire five years from the date of grant, subject to the termination provisions of Spider's stock option plan.

Investor Cubed and Spider act at arm's length to each other and Investor Cubed has no direct or indirect interest in Spider or its securities, other than the grant of options referred to above.

Spider also announces that it has granted pursuant to Spider's incentive stock option plan, and in addition to the grant of options to Investor Cubed referred to above, a total of 4,500,000 stock options to directors, officers and consultants of Spider exercisable over a five-year period at a price of $0.10 per share and vesting immediately, including 1,000,000 to the President & CEO, 600,000 to the Vice President - Finance and 400,000 to the Chairman, who also act as directors of Spider, 400,000 to each of the four independent directors of Spider, 700,000 among three additional officers of Spider, and 200,000 to a consultant to Spider.

The common shares of Spider closed on December 18, 2009 on the TSX Venture Exchange at a price of $0.05 per common share.

About Investor Cubed

Toronto based, Investor Cubed provides two complementary business services; specialized investor relations services for small capitalization Canadian companies and capital markets services for asset managers. Investor Cubed identifies Canadian companies with exceptional growth potential and guides them to the prominence that they deserve with retail and institutional investors alike. By being where venture capital meets capital markets, they fill a vitally important market niche. Thus, Investor Cubed provides unique investor relations' services and strategic guidance on capital markets' issues to a select group of Canadian small capitalization