Spider Resources Inc.

Spider Resources Inc.

August 03, 2005 16:23 ET

Spider Resources Inc.: Management Services Agreement With Billiken Management Services Inc.

TORONTO, ONTARIO--(CCNMatthews - Aug. 3 2005) - Spider Resources Inc. ("Spider") (TSX VENTURE:SPQ) is pleased to announce that it has entered into a formal management services agreement with Billiken Management Services Inc. Billiken has provided similar services to Spider over the past twelve months pursuant to a verbal agreement. The current written agreement reflects the prior understanding between the parties. Pursuant to the management services agreement, Billiken shall provide administrative and general reception services to Spider, as well as providing office space, telephone and other related services. The consideration for these services is $750 per month. Billiken shall also provide investor relations services and any other services over and above administrative and office space to Spider for 10% in excess of Billiken's cost of providing the same. The term of the agreement is for twelve months and may be renewed at the option of Spider for a further twelve months. Billiken is not at arm's-length to Spider and the agreement is subject to regulatory approval.

On Behalf of the Board of Directors

Neil Novak,

President and CEO

For more information on Spider Resources Inc. and its other exploration projects
Please visit our website www.spiderresources.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility of the adequacy or accuracy of this release.

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