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Sphinx Corporate Presentation January 2019

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Sphinx Corporate Presentation January 2019 TSX-V: SFX Successfully Generating ROBUST ZINC PROJECTS Corporate Presentation January 2019 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. All forward-looking statements in this corporate presentation are made as of the date of this presentation. Sphinx does not undertake to update any such forward- looking statements whether as a result of new information, future events or otherwise, except as required by law. The technical information contained in this presentation has been reviewed and approved by Normand Champigny, ing., B.A.Sc., M.A.Sc., President and CEO of Sphinx, qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects. 2 SUMMARY TSX-V listed Deals made with strong partners: (ticker SFX) Osisko Metals, SOQUEM exploration company Focused on Project generator Quebec and zinc business model key to maximizing long term shareholder value Team oF three mine finders in Eastern Canada 3 OWNERSHIP Shares outstanding 123 M Fully diluted 175 M Management, Board 14% Quebec institutions 21% Top 100 shareholders 97% of shares Key suppliers and Pontiac area shareholders 14% 4 TEAM: Management and Directors Jeremie Ryan, John W. W. Hick, B.A., LL.B. President, Chief Executive Officer and Director Chairman of the Board Resident of the Pontiac More than 30 years of experience in the mining industry in management positions 35 years of experience in the natural and as independent director resources sector Owned and operated local businesses Involved with several non-profit and community organizations Normand Champigny, M.A.,Sc., Eng. Michel Gauthier, Ph.D. Director Director 37 years of experience in exploration 44 years of experience and management in Canada and Professor of mineral prospecting at internationally l’Université du Québec in Montréal Co-baptized a gold prospect, named Éléonore, in the Eeyou Istchee James Bay territory 5 TEAM: Management and Directors (continued) François Biron, Eng. Kerry E. Sparkes, M.Sc. Director Director More than 40 years of experience in More than 25 years of experience in project evaluations and operations the mining industry, exploration geologist management and executive Considerable experience with Key person involved in the exploration, environmental issues and social delineation and development of both the acceptability of mining projects Voisey’s Bay nickel and the Rainy River gold deposits Currently V.P. Geology for Franco-Nevada Corporation Sylvain Laberge Ingrid Martin, CPA, CA Advisory Committee Chief Financial Officer More than 25 years of experience in Over 25 years of experience in the mining industry and corporate accounting and finance of public communications companies and since 2004 involved with several mineral exploration companies 6 STRATEGY and Focus Maximize deal flow with strategic partners Generate quality projects with: Zinc (± other base and precious metals) Maintain a diverse portfolio Good social acceptability with projects: Low cost exploration In different high grade through a focus on drilling metamorphic terranes of and leveraging strategic different levels of advancement partnerships Concentrate on Quebec 7 SUCCESSFUL Project Generator Social acceptability Project generation LONG-TERM SHAREHOLDER Ground access Deal flow VALUE with strategic partners Base and precious metals potential HIGH GRADE METAMORPHIC TERRANES 8 WHY ZINC? Supply and Inventory Declining Zinc Price vs. Inventory (2004 – current) Source: Macquarie, April 27, 2018 9 ZINC SUPPLY, DEMAND AND END USE 10 WHY QUEBEC? Quebec: 6th rank on worldwide investment attractiveness index Fraser Institute - Survey of mining companies 2018 Significant tax advantages (tax credit and low after-tax cost for flow-through-share) Sphinx’s team has considerable experience in Quebec 11 2013 to 2018 Deals include: Osisko Metals Gardin - Michel Gauthier (50% joint venture) (100% Sphinx) Grenville Project: Zinc Calumet-Sud and Tessouat: Zinc and GPd: Palladium SOQUEM (50% joint venture) Quebec’s exploration agency, 50 years, 350 projects, 8 mines Calumet-Sud: Zinc 12 OSISKO METALS Joint Venture Grenville Zinc Project: Joint management committee 50-50% JV with to explore to design and oversee for zinc in highly prospective the exploration program areas of the Grenville geological province in Sphinx acts as operator southern Quebec If a party's interest dilutes to Minimum of $1,250,000 by 10% or less, its interest shall each party over the next five be converted to a 2% net years including $100,000 smelter return royalty during the first year 13 ZIAC (‘ZINC-PONTIAC’) DISTRICT 40-km long northwest Projects within the Ziac (301 km2) trending corridor defined Calumet-Sud (12 km2) by zinc-bearing rocks 50% Sphinx (excluded from joint venture 50% SOQUEM with Osisko) Tessouat (13 km2) 100% Sphinx Similar to Balmat-Edwards- 2 Pierrepont zinc district, GPd (41 km ) 100% Sphinx New York state Tessouat-Sud (177 km2) 100% Sphinx Obwondiag (57 km2) 100% Sphinx 14 PROJECTS 15 CALUMET-SUD Zinc Project 50-50% joint venture with SOQUEM, 2% NSR to Gardin Stratiform, shallow-dipping and near-surface horizon over 1,500 m strike length, adjacent to New Calumet Mines Channel sample composites 22.1% Zn over 1.0 m incl. 6.6% Zn over 5.0 m 24 holes drilled to date 13.1% zinc over 1.0 m within 8.1% Zn over 1.5 m 3.8% zinc over 5.0 m 6.7% Zn over 1.0 m 9.0% zinc over 1.0 m within 3.3% Zn over 4.0 m 3.1% zinc over 6.4 m 3.2% Zn over 6.0 m 6.6% zinc over 1.4 m within 3.0% zinc over 6.8 m Drill mineralized horizon to establish continuity and resource potential – Q4 2018 and 2019 16 SPHALERITE Bands Sphalerite bands 17 NEW CALUMET MINES AREA Pontiac MRC, Québec, Canada 18 CALUMET-SUD PROJECT 19 CALUMET-SUD PROJECT 20 VALUE DRIVERS 2019 Five-Year Plan Drill and establish Advance projects with strong resources potential partners that are socially Calumet-Sud acceptable with year-round access Define targets and drill Tessouat (trench and drill) Make one or more Obwondiag and Tessouat-Sud mine discoveries (soil sampling) Create significant Execute regional program shareholder value Grenville Zinc Project with Osisko Metals 21 SPHINX RESOURCES LTD. 1000 De La Gauchetière, Suite 2100, Montreal, QC H3B 4W5 T: 1 514 979-4746 sphinxresources.ca.
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