KWG RESOURCES INC. RECEIVES CONDITIONAL APPROVAL OF TSXV FOR PROPOSED BUSINESS COMBINATION WITH SPIDER RESOURCES INC.

KWG Resources Inc. has received conditional approval from the TSX Venture Exchange with respect to the business combination, previously announced in Stockwatch on June 14, 2010, with Spider Resources Inc. Pursuant to the amalgamation, and subject to required regulatory approvals and the approval of the shareholders of Spider, each outstanding common share of Spider will be exchanged for 1.21 common shares of KWG, subject to adjustment in certain circumstances relating to the shareholder rights plans of each of KWG and Spider.

Completion of the amalgamation and final acceptance from the TSX-V is subject to a number of conditions and approvals, including fulfilling all required filing requirements pursuant to the policies of the TSX-V. The amalgamation also requires the approval of a majority of not less than two-thirds of the votes cast in respect of the resolution to approve the amalgamation by shareholders of Spider entitled to vote at a meeting to be held on July 8, 2010.