Sphinx Provides an Exploration Update on its Projects in Quebec

Sphinx Resources (“Sphinx” or the “Corporation”) (TSXV:SFX) provides an update on its projects in Quebec. Since the beginning of 2017, two drilling programs have been completed on the Corporation’s projects and one drilling program is expected to commence during the month of June. This year’s exploration activities are as follows:

• Calumet-Sud (zinc-lead-silver-gold project), partnership with SOQUEM inc. – A 13-hole drilling program totalling 1,098.5 m, has been completed. Three holes intersected semi-massive to massive sphalerite horizons with thicknesses ranging from one centimeter to several centimeters spread over several metres. Assay results are expected in late spring.
• Green Palladium (palladium-copper project), 100% owned. – A drilling program of ten (10) holes totalling 969 m, has been completed. Geological continuity of the mineralized reef over an 800-metre length, has been confirmed. Complete assay results are expected at the beginning of summer.
• Chemin Troïlus (gold), 100% owned. – In 2016 Sphinx defined a prospective area of 1.2 km by 1.0 km, up-ice from the dispersion train of mineralized boulders and till samples containing pristine gold grains. An induced polarization survey over the prospective area was completed in April 2017. Interpretation of the survey results is underway to identify drilling targets that can be tested during the month of June.
• Cheechoo-Eleonore Trend (gold), partnership with Sirios Resources Inc. 50-50% – Results from the till sampling program completed last October will be available shortly. Field work planning is underway with our highly-qualified and experienced team.
• Somanike (nickel, gold, base metals) 100% owned. – Compilation of all historical drill data in conjunction with the helicopter-borne survey performed by Sphinx in 2014 identified previously unrecognized sulphide iron formations occurring across the project. These formations may be prospective for gold mineralization. Numerous drill targets have been generated. The Corporation is actively seeking a partner to fund the next exploration program.

Sphinx continues to review acquisition opportunities with a focus on precious metals and high-grade zinc.
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