Sphinx and SOQUEM start a new drilling campaign at the Calumet-Sud zinc project, Quebec

Montréal, January 15, 2019 – Sphinx Resources Ltd. (“Sphinx” or the “Corporation”)
(TSX-V: SFX) and its partner SOQUEM are pleased to announce that a new diamond drilling campaign has begun on the Calumet-Sud zinc project (the “Project”). The campaign consists of 24 holes totaling approximately 2,400 meters.

This campaign follows the results of channel sampling from 13 trenches completed in the fall of 2018, where zinc grades of up to 21.2% over 1.0 m were obtained (see press release dated November 15, 2018). This work identified zinc horizons within dolomitic marble over a distance of about 1,500 m along a north-south axis. The objective of the drilling campaign is to test the depth extension of the best channel samples and to increase the understanding of the structural setting of zinc-rich zones from the Sonny deposit in the south towards the north along the identified axis.

Located in the Pontiac regional municipal county of Quebec, the Project is adjacent to the former New Calumet mine that produced 3.8 million metric tonnes of ore at a grade of 5.8% Zn, 1.6% Pb, 65 g/t Ag et 0.4 g/t Au from 1944 to 1968 (reference: Annual report New Calumet Mine 1968).

Drilling will be done by Forage RJLL Drilling Inc. of Rouyn-Noranda.

Qualified Persons

The 2019 winter drilling program is carried out under the direction of Michel Gauthier, Ph.D. (géo., and director of the Corporation), Qualified Person under National Instrument 43-101. This press release was prepared by Normand Champigny, (Eng., director and Qualified Person of the Corporation).

About SOQUEM

SOQUEM, a subsidiary of Ressources Québec, is a leading player in mineral exploration in Québec. Its mission is to explore, discover and develop mining properties in Québec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other minerals.

About Québec and Sphinx

Quebec has established itself as one of the world’s most attractive mining jurisdictions, ranking 6th globally (Fraser Institute press release, February 22 2018). The Quebec government has created market confidence by following 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. Sphinx is engaged in the generation and acquisition of exploration projects in Québec with a focus on zinc.

For further information, please consult Sphinx’s website or contact:

Jeremie Ryan
President and Chief Executive Officer
819.664.2632
info@sphinxresources.ca
www.sphinxresources.ca

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