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Gold/Mining/Energy : KWG Resources (KWG - T) -- Ignore unavailable to you. Want to Upgrade?

To: Walter who wrote (165)	6/11/1998 7:27:00 PM
From: philip trigiani	Read Replies (1) \| Respond to of 197

Attention Business/Financial Editors: SPIDER AND KWG LAUNCH 1998 EXPLORATION PROGRAM IN BRAZIL MONTREAL, June 11 /CNW/ - Spider Resources Inc. (''Spider'') and joint venture partner KWG Resources Inc. (''KWG'') are pleased to announce the start-up of their 1998 exploration program in Brazil. Spider has entered into an agreement with Ambrex Mining Corporation to lease the latter company's diamond sorting plant presently located in Mato Grosso State, Brazil. Spider intends to move the plant to its Contendas site situated in Goias State in Brazil in order to carry out a systematic surface sampling program over the Contendas site prior to a further drilling program. Previous drilling at Contendas identified diamondiferous lamproite dikes underlying surface epiclastic accumulations from which diamond is currently being recovered from material processed by local artisanal workers. To date, local artisanal workers have recovered in excess of 5,000 carats of diamonds within the Contendas structure. Spider intends to complete a sixty (60) pit sampling program with each sample representing approximately fourteen (14) cubic meters of material from each site. All material from each pit will be processed to a concentrate at the field site with final processing of the concentrate being completed with an x-ray Sortex sorter at a secure site. Following completion of the surface sampling program at the Contendas site, Spider intends to carry out a one thousand (1 000) meter program to further test the presence of underlying source rock. Contemporaneously with this latter program, Spider will carry out additional surface sampling programs over other identified targets occurring within its claim holdings prior to drilling those targets. Spider has recently completed private placement in the amount of $300,000. The proceeds of these private placements will be used for the above described programs. Spider is a diamond exploration company active in Canada and Brazil, currently trading on the ASE. KWG is a mining exploration company currently trading (without quotation) on the Canadian Dealing Network under the symbol KWGR and has 74,636,959 issued and outstanding common shares. NO REGULATORY AUTHORITY HAS APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE -0- 06/11/98 For further information: Mary Peschka, Spider Resources, (416) 941-8709 --------------------------------------------------------------------------