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December 2015 Forward-Looking Statements Sphinx Resources Ltd. December 2015 Forward-Looking Statements This corporate presentation may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Sphinx’s periodic reports including the annual report or in the filings made by Sphinx from time to time with securities regulatory authorities. The technical information contained in this presentation has been reviewed and approved by Normand Champigny, ing., President and CEO of Sphinx, qualified person for the purposes of National Instrument 43-101. 1 Strategy Sphinx is an exploration company focused on the development of mineral exploration projects in Québec and on performing multiple acquisitions. Committed to a leading standard of practice with respect to health, safety, community relations and environmental management. Growth in Québec with focus on high-grade PGE-Ni-Cu targets. 2 Summary ▲ Share structure: 45.4 millions shares issued. 71.2 millions fully diluted. Institutions: 29%. Management, board & advisory committee: 15%. 70 shareholders represent 88% of shares outstanding. ▲ Milestones in 2015: Acquired 3 new projects. Drilled 3,500 m on 3 projects with expenditures of $0.9 M. Discovered significant Ni-Cu-PGE mineralization on 2 projects. 3 Team Normand Champigny, M.A.Sc., ing. - President , Chief Executive Officer & Director 34 years of experience in exploration and management in Canada and internationally. John Hick, BA, LL.B. - Chairman of the Board More than 30 years of experience in the mining industry in management positions and as independent director. Kerry Sparkes, M.Sc. - Director 25 years of experience in the mining industry as an exploration geologist and executive. Key person involved in the exploration, delineation and development of both the Voisey’s Bay nickel and the Rainy River gold deposits. Michel Gauthier, Ph.D. - Director 44 years of experience. Professor of mineral prospecting at l’Université du Québec in Montréal. Co-baptized a gold prospect, named Éléonore, in the James Bay region. 4 Team (cont.) David Johnson, B.C.L., LL.B. - Director 12 years of experience in business and corporate law. Corporate secretary of the corporation and Chief Legal Officer of Colt Resources. Ingrid Martin, CPA, CA - Chief Financial Officer & Director 24 years of experience in finance and company acquisitions including several mining and exploration companies in Québec. Robin N. Adair, M.Sc. (géo., P. Geol.) - Advisory Committee 32 years of experience including 25 years with Noranda and Falconbridge. Participated to the discovery of the Bracemac-McLeod zinc-copper mine. 5 Overview Development of exploration projects in Quebec: Acquisitions from Amixam & Gardin (100% Sphinx) Green Palladium: palladium-platinum-copper. Calumet-Sud: zinc, palladium-platinum-copper. Acquisitions from Virginia Mines, Royal Nickel & Globex (100% Sphinx) Somanike: nickel, copper and platinum-group elements. 6 Green Palladium Project High-grade palladium and copper discovered. Hosted in a previously unidentified layered igneous complex covering 15 km. New and untested PGE magmatic reef with a potential extent of 11 km. 2015: Ground mag, EM and IP surveys. 9 holes drilled, 962 m. 8 Green Palladium Project Located in the Pontiac Regional County municipality in southern Québec. Exploration and mining friendly region. Excellent infrastructure. Sphinx property Potential for: 137 km2 Magmatic PGE. Magmatic Ni-Cu-PGE. Carbonate-hosted zinc. Gold-rich VMS. 9 Green Palladium Project Green Palladium: 100% owned. 2% NSR to Amixam. $750,000 expenditures over 3 years. Calumet-Sud: 100% owned. 2% NSR to Amixam. $350,000 expenditures over 3 years. Cash $93,000. 10 Projet Green Palladium Geology Obwondiag layered Calumet Mine 3.8 Mt at Obwondiag Layered 5.8% Zn, 1.6% Pb, 65 g/t Ag, 0.4 g/t Au complex discovered. Igneous complex Pd + Pt + Au Discovery PGE associated with 3.45 g/t Pd+Pt+Au / 0.40m, and a sulphide-bearing 1.25 g/t Pd+Pt+Au / 1.50m. reef horizon. Zinc Discovery 5.4% Zn over 2 m Poorly mapped igneous rocks. Carbonate-hosted zinc. 11 Green Palladium Project Calumet Mine 3.8 Mt at 5.8% Zn, 1.6% Pb, 65 g/t Ag, 0.4 g/t Au Obwondiag layered igneous complex - Newly discovered. Pd + Pt + Au Discovery 3.45 g/t Pd+Pt+Au / 0.40 m 1.25 g/t Pd+Pt+Au / 1.50 m Zinc Discovery 5.4% Zn over 2 m 12 Green Palladium Project 11 km of reef at surface. Pd + Pt + Au Discovery 3.45 g/t Pd+Pt+Au / 0.40m, and Untested. 1.25 g/t Pd+Pt+Au / 1.50m. Potentially larger complex. 13 Green Palladium Project Cloudy Disseminated Cpy Mingling textures Pyroxenite 60 in gabbro 14 Green Palladium Project Chemistry Pd + Pt + Au Discovery 3.45 g/t Pd+Pt+Au / 0.40m, and surface 1.25 g/t Pd+Pt+Au / 1.50m. Composite Assays DDH 3 Anomalous PGE 0.52 g/t Pd+Pt+Au over 1.9 m Trench channel trend over 719 m 1.25 g/t Pd+Pt+Au over 1.5 m Defined by: DDH 1 3.45 g/t Pd+Pt+Au over 0.4 m IP DDH 2 0.21 g/t Pd+Pt+Au over 1.0 m Mag DDH 5 0.07 g/t Pd+Pt+Au over 1.65 m Stratigraphy DDH 6 0.54 g/t Pd+Pt+Au over 0.10 m 15 Green Palladium Project Drill section 200 Elev. 1.25 g/t Pd+Pt+Au over 1.5 m Au zone 3.45 g/t Pd+Pt+Au over 0.4 m 100 Elev. 0.21 g/t Pd+Pt+Au over 1.0 m SL Section 0E (Looking NE) 16 Green Palladium Project 3D Modeling 17 Palladium-copper mineralization Sample MB250414-01 3.2 g/t Pd, 3.2% Cu, 0.18% Ni, 84 ppb Pt, 143 ppb Au 18 Magmatic palladium- bearing sulphides 19 PGE in layered complexes 4,210,000,000t @ 6.21 g/t PGE 20 Platinum Group Elements Higher demand for PGM due to: • expanding automotive production, • more stringent governmental emission regulations. 21 Palladium: deficit driven by substitution of palladium for platinum in gasoline & diesel catalytic converter applications Source: Stillwater Mining Company web site 22 Somanike Project Acquisition from: Virginia/Royal Nickel/Globex, 47 km2 (100% owned). Includes former Marbridge mine: 0.7 Mt @ 2.3% Ni, 0.1% Cu. 2015 drilling: 1.41% Ni, 0.05% Cu, 0.30 g/t Pd & 0.04 g/t Pt @ 0.5 m. Untested priority drill targets identified 14 km of cumulative length over 10 distinct conductors. Cooperation agreement with Abitibiwinni first nation/Pikogan. 22 Somanike Project 23 Somanike Marbridge Deposit No environmental legacy. Strong community support and understanding of mining. No agriculture over project area. Sphinx property Marbridge Mine 1 Mine 2 first production Marbridge Mine, 1962 Past Producer 24 Somanike - Geology 2014 airborne survey identified abundant and previously unknown ultramafic rocks. Both feeder-dykes (Raglan type) and komatiite (Kambalda type). Ni-Cu potential demonstrated by the recent nickel discovery by Sphinx in 2015. Marbridge Mine: high-grade nickel with strong potential for discoveries. 25 Somanike Marbridge Mine 1726 Somanike Marbridge Geology 27 Somanike Marbridge Long Section 28 2015 Value drivers Green Palladium Project (100% Sphinx, acquired from Amixam and Gardin) Project-scale drone mag-spectral and geochemical soil surveys. Drilling palladium reef and zinc targets. Somanike Project (100% Sphinx, acquired from Virginia Mines, Royal Nickel and Globex) Drilling on selected targets. Continue to review project acquisition opportunities. 32 Sphinx Resources Ltd. 1 Place Ville Marie, Suite 2001 Montreal, QC H3B 2C4 T: 1 514 286-1565 .
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