00:20 EDT Thursday, April 08, 2010

(via Thenewswire.ca)

April 8, 2010 - Spider Resources Inc. (the "Company" or "Spider") announces that its audited financial statements and management's discussion and analysis for the year ended December 31, 2009 have been filed on SEDAR (www.sedar.com). They are also available on the Company's website at www.spiderresources.com.

Highlights during and subsequent to the year ended December 31, 2009

The Company reported a net loss for the year ended December 31, 2009, of $748,277 ($0.00 per share);

-The Company had a cash position of $2,716,778 as of December 31, 2009;

-The Company completed a flow-through share offering to raise gross proceeds of $2,200,000. Press releases announcing the financing were issued July 30 and August 10, 2009. The Company issued 73,333,333 flow-through units at a price of $0.03 per unit. Each unit consists of one common share (issued on a flow-through basis) and one-half of one common share purchase warrant. Each full warrant entitles the holder to acquire one common share (which share will not be issued on a flow-through basis) at a price of $0.05 for a period of one year from the date of issue and thereafter at a price of $0.10 for a period of two years from the date of issue.

-The Company completed two tranches of the private placement announced on December 16, 2009. An aggregate of 38,673,331 flow-through units were issued to subscribers on December 24 and 30, 2009, respectively, at a price of $0.06 per unit, for gross proceeds of $2,320,400. Each flow-through unit consists of one common share (issued on a flow-through basis) and one-non flow-through common share purchase warrant. Each full warrant entitles the holder to acquire one common share (which share will not be issued on a flow-through basis) at a price of $0.10 for a period of two years from the respective dates of issue on December 24 and 30, 2009.

-The Company completed the final tranche of its private placement on January 22, 2010, which was previously announced on December 16, 2009. An aggregate of 9,823,336 flow-through units, at a price of $0.06 per unit, and 23,310,000 non-flow-through units, at a price of $0.05 per unit, were issued to subscribers on January 22, 2010, for aggregate gross proceeds of $1,754,900. Each flow-through unit consists of one common share (issued on a flow-through basis) and one non-flow-through common share purchase warrant. Each unit consists of one common share and one warrant. Each full warrant entitles the holder to acquire one common share (which share will not be issued on a flow-through basis) at a price of $0.10 for a period of two years from the applicable closing date.

-Spider, KWG Resources Inc. ("KWG") and Freewest Resources Canada Inc. ("Freewest") signed an amended and restated option agreement for the Big Daddy chrome property. The company announced the agreement in a press release dated September 14, 2009. Freewest granted an option to KWG and Spider to earn an aggregate 10% additional interest by incurring $15 million in expenditures by March 31, 2012. Currently, KWG and Spider each hold a 26.5% interest in the Big Daddy chrome project.

About Spider Resources Inc.

Spider Resources Inc. is a Tier 2 Canadian exploration company, listed for trading on the TSX Venture Exchange under the symbol SPQ. Spider currently has 471,194,433 common shares issued and outstanding.

On behalf of the board of directors,

and Neil Novak, President and CEO

Phone: 416 203-8636

Fax: 416 815-1355

Website: www.spiderresources.com

Corporate Office: 50 Richmond