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Sphinx Resources Announces Completion of 13 Drillholes on Calumet-Sud Project

Sphinx Resources Ltd. ("Sphinx" or the "Corporation") (TSX VENTURE:SFX) is pleased to announce that 13 drillholes, totalling 1,098.5 m, have been completed on the Calumet-Sud project (the "Project"). The program was designed to test coincident ground geophysical and geochemical anomalies related to surface mineralization identified in surface channel samples (press release of February 22, 2017).

Three drillholes (4000-17-03, 4000-17-10 and 4000-17-12) intersected semi-massive to massive sphalerite horizons with thicknesses ranging from one centimeter to several centimeters spread over several metres. In the drillcore of the other 10 holes, disseminated sphalerite was observed in dolomitic marble horizons of ranging in thickness from one metre to several metres. Drillhole 4000-17-02 is situated about 1,200 m north of the Sonny Zone and 500 m south of the workings of the old New Calumet mine (produced 3.8 million tonnes of ore grading 5.8% Zn, 1.6% Pb, 65 g/t Ag and 0.4 g/t Au from 1943 to 1968), whose property is adjacent to the Project.

Drillhole samples will be delivered and analyzed at the ALS Chemex Laboratory in Val d'Or, Quebec. The results will be disclosed when the analyses are completed and when quality assurance and quality control procedures and data interpretation are finalized towards the end of the spring.

The Project, held 100% by Sphinx and currently under option by its partner SOQUEM (press release of May 31, 2016), consists of 21 claims (12 km2) and is located in the MRC Pontiac region in southwestern Quebec. SOQUEM is the operator and funds the program. To the north, the Project is adjacent to the former New Calumet zinc-lead-silver-gold mine.

The Project is adjacent to the Green Palladium project consisting of 87 claims (49 km2) held 100% by Sphinx, which includes also a significant surface area of potentially zinc-bearing rocks.

The technical information presented in this press release has been approved by Normand Champigny, President and Chief Executive Officer of Sphinx, and a Qualified Person as defined by NI 43-101.


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