Sphinx updates its exploration projects in Quebec

MONTREAL, QUEBEC – Sphinx Resources Ltd. (“Sphinx” or the “Company”) (TSX VENTURE: SFX) presents an update on its projects in Quebec. Since the beginning of 2017, two (2) drilling programs have been completed on the Corporation’s projects and one (1) drilling program is planned to begin during June. Exploration activities are summarized as follows:

Calumet-Sud (zinc-lead-silver-gold project), a partnership with SOQUEM inc. – A drill program of 13 holes totaling 1,098.5 m has been completed. Three (3) boreholes intersected levels of semi-massive to massive sphalerite with thicknesses ranging from one centimeter to several centimeters spread over several meters. The results of the analyzes are expected towards the end of spring.

Green Palladium (palladium-copper project), which is 100% owned. – A drill program of ten (10) holes totaling 969 m has been completed. The geological continuity of the mineralized reef over a length of 800 m has been confirmed. The full results of the analyzes are expected early in the summer.

Chemin TroA�lus (gold), wholly owned. – By 2016 Sphinx has defined a 1.2 km prospective sector by 1.0 km upstream of the head of the mineralized block trail and till samples containing intact gold grains. A polarization survey on the prospective sector was conducted in April 2017. Interpretation of the survey results is underway to identify drill targets to be tested during the month of June.

Cheechoo-Eleonore Corridor (gold), partnership with Sirios Resources Inc. 50-50% – Results of analyzes of the till sampling program completed last October will be available shortly. Planning for field work is underway with our highly skilled and experienced team.

Somanike (nickel, gold, base metals) held 100%. – The compilation of all historical survey data and the integration of those of the helicopter survey conducted by Sphinx in 2014, identified iron formations with sulphide facies not previously recognized on the project. These iron formations could be prospective for gold mineralization. Many drill targets have been generated. The Company is actively seeking a partner to finance the next exploration program.

The Company continues to explore acquisition opportunities with an emphasis on precious metals and high zinc content.

The technical data in this release has been approved by Normand Champigny, President and Chief Executive Officer of Sphinx and qualified person within the meaning of NI 43-101.

About Quebec

Ranked 6th in the world, Quebec has established itself as one of the most attractive mining jurisdictions in the world. The Government of Quebec has created market confidence by taking a proactive approach to mining policy. Quebec’s mining sector has also been encouraged by the clarity and certainty of the legal and regulatory framework adopted by its government.

About Sphinx

Sphinx is a company focused on the generation and acquisition of exploration projects in Quebec, a Canadian province that is recognized worldwide as an attractive mining jurisdiction.

Source: Sphinx Resources Ltd.