Agoracom

SPIDER RESOURCES INC. ANNOUNCES RESULTS OF SHAREHOLDER MEETING

Toronto, Canada – June 27, 2008 – Spider Resources Inc. (TSXV-SPQ) is pleased to announce the results of its annual and special general meeting held in Toronto last week (the "Meeting"). All of the current directors of Spider were re-elected for a further term, as were the auditors of the corporation. The proposed resolution which would have authorized the board of directors of Spider to proceed with a consolidation of Spider’s common shares on certain terms as described in greater detail in the management information circular sent out in connection with the Meeting was defeated by 37,633,693 common shares voted against the resolution to 30,687,806 common shares voted in favour of the resolution at the meeting. As the resolution was defeated, the consolidation of Spider’s common shares will not go forward.

The following officers will hold office for the ensuing year, or until their successors are appointed:

Earl Coleman Chairman

Neil Novak President and Chief Executive Officer

Carmelo Marrelli Chief Financial Officer

Richard Hamelin Vice President Finance

Carmen Diges Corporate Secretary

The Executive positions will be reconfirmed as well as various committees at the next Board of Directors meeting of the Corporation.

Spider Resources Inc. is a tier 2 Canadian exploration company, quoted for trading on the TSX Venture Exchange under the symbol SPQ. There are currently 310,311,767 shares issued in Spider.

On behalf of the board of directors,

Neil Novak, President and CEO

For further information:
Contact Toronto Exploration Office
Suite 470, 44 Victoria St., Toronto, Ontario, M5C 2E3 Canada
(416) 815 8666

This press release, required by applicable Canadian securities law, is not for distribution to U.S. news services or for dissemination in the United States, and does not constitute an offer of the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.