Debuts Diamonds

16 May 2008

Montreal, Canada, May 16th, 2008 – The break-up of winter ice conditions in the James Bay Lowlands has temporarily halted the drilling program of the joint venture between KWG Resources Inc (TSXV: KWG) and Spider Resources Inc (TSXV: SPQ) on the claims optioned from Freewest Canada Resources Inc (TSXV: FWR) near the discovery of the Eagle 1 and Eagle 2 nickel deposits of Noront Minerals Inc (TSXV: NOT).  Field programs are expected to resume after the end of May.

In the meantime, KWG’s Board of Directors has determined that the roll-over of the Company’s diamond exploration property interests to its subsidiary Debuts Diamonds Inc, may be done in exchange for units issued from the subsidiary’s treasury priced at $0.20 with each unit comprising one share and one warrant exercisable at $0.30 for one year.  The rollover transaction, valued at approximately $9 million, was completed with effect on April 29th, 2008.  It is anticipated that Debuts Diamonds will file its non-offering prospectus with regulatory authorities before mid-year.

For further information, please contact:

Bruce Hodgman,
Communications Director
Direct: (905) 582-9744
  Michel Côté
514-866-6001 ext. 266

Or visit our website:

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

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