Precious Metals-Focused Project Generator Sphinx Resources Ltd. November 2016 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., 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. 1 Sphinx Resources Ltd. Summary Project generator Strategy & focus Deals Team Ownership Projects Value drivers 2 Summary TSX-V listed (ticker SFX) corporation headquartered and focused on Quebec Project generator business model key to maximizing long term shareholder value Team of proven mine finders in Quebec/Labrador: Éléonore and Rainy River (gold) Voisey’s Bay (nickel) Bracemac-McLeod (zinc-copper) Focus on precious metals All projects within proximity of existing or previous mines Actively identifying new projects 3 Project Generator Social acceptability Project generation Long-term Ground access shareholder value Deal flow with strategic partners Precious metals potential High grade metamorphic terranes 4 Strategy & Focus Maximize deal flow with strategic partners Generate quality projects with: high-grade precious metals good social acceptability low cost exploration through a focus on drilling and leveraging strategic partnerships Maintain a diverse portfolio with projects: in different high grade metamorphic terranes of different levels of advancement Concentrate first on Quebec with potential expansion into other Canadian provinces 5 2014 to 2016 - 11 deals with reputable partners including: Sirios Resources (50% joint venture) 2016 discover of the year in Quebec Cheechoo-Éléonore Trend: gold Soquem (50% option and joint venture) Quebec’s exploration agency, 50 years, 350 projects, 8 mines Calumet-Sud: zinc-lead-silver-gold, palladium-platinum-copper Les Ressources Tectonic (100% Sphinx) Chemin Troilus: gold-copper Gardin/Michel Gauthier (100% Sphinx) Green Palladium & Calumet-Sud: palladium-platinum-copper, zinc-lead-silver-gold Osisko Gold Royalties, RNCMinerals, Globex (100% Sphinx) Somanike: nickel-copper and platinum-group elements 6 Committed Ownership Shares outstanding: 55 M Fully diluted: 76 M Management, Board & advisory committee: 19 % Institutional funds: 28 % 70 shareholders: 84 % of shares 7 Team Normand Champigny, M.A.Sc., ing. - President , Chief Executive Officer & Director 35 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, 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 Currently V.P. Geology for Franco-Nevada Corporation. 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 8 Team (continued) François Biron, ing. - Director More than 40 years of experience in project evaluations and operations management Considerable experience with environmental issues and social acceptability of mining projects 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 9 High Grade Metamorphic Terranes 10 Cheechoo-Éléonore Trend Project 50-50% joint venture with Sirios Resources (operator) Minimum of $ 500,000 by each party over the next 5 years Combination of deep gold expertise in the Eeyou Istchee James Bay region Underexplored gold trend continuing from: Sirios’ Cheechoo gold discovery Éléonore gold mine (operated by Goldcorp) Exploration program: Till sampling survey along trend (completed) Identify gold anomalies and investigate in the field 11 12 Calumet-Sud & Green Palladium Projects - Summary Calumet-Sud Green Palladium 100% owned, 50% option to SOQUEM 100% owned 2% NSR to Gardin 2% NSR to Gardin New electromagnetic anomalies, Obwondiag layered igneous complex 2 to 3 km from New Calumet Mine discovered Strong 300-metre long lead-zinc New and untested PGE reef with a anomaly potential extent of 11 km Trenches include 3% Zn over 10 m Presence of 4 kilometric scale target 6.9% Zn over 1 m zones within the complex Extension of SW portion of palladium 2 or possibly 3 potential horizons of mineralization of Green Palladium interest for PGE, open in all directions Ongoing program: ground gravimetric Ongoing program: soil survey and survey and prospecting prospecting 13 14 Calumet-Sud & Green Palladium Projects- Geology Calumet Mine 3.8 Mt @ 5.8% Zn, 1.6% Pb, 65 g/t Ag, 0.4 g/t Au Obwondiag layered igneous complex Located in the Pontiac Pd + Pt + Au Discovery 3.45 g/t Pd+Pt+Au / 0.40m, and Regional County Municipality 1.25 g/t Pd+Pt+Au / 1.50m. in southern Québec Zinc Discovery Exploration and mining 5.4% Zn over 2 m friendly region Excellent infrastructure Potential for: Magmatic PGE Magmatic Ni-Cu-PGE Carbonate-hosted zinc Gold-rich VMS 15 Calumet-Sud Project 25m-spaced Soil Survey & Trenching Swamp Swamp Trenches area, southwest of elongated swamp zones which are conformable to rock unit trend Soil survey results Trench results (ppm zinc - green, lead - blue) (ppm zinc) 16 Palladium-copper Mineralization Sample MB250414-01 3.2 g/t Pd, 3.2% Cu, 0.18% Ni, 84 ppb Pt, 143 ppb Au 17 Green Palladium Project Surface mineralization Cloudy & disseminated chalcopyrite Mingling textures pyroxenite in gabbro 60 18 19 Chemin Troilus Project Summary Acquired from Les Ressources Tectonic, 32 km2 (100% owned) Located 110 km north-northeast of Chibougamau, good road access Within corridor containing former gold-copper Troilus mine (produced 2 million ounces of gold and 70,000 tonnes of copper) 2016 program just completed (till sampling to identify the bedrock source of mineralized boulders) 20 Gold-bearing boulder, sample 963314 : 1.57 g/t Au 21 22 21 2321 Somanike Project Summary Acquisition from Virginia/Royal Nickel/Globex, 47 km2 (100% owned) Cooperation agreement with Abitibiwinni first nation/Pikogan 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 2016 drill targets Depth and strike extension of Marbridge’s Mine 2 (4% Ni) Other areas: 10 conductors over 4 km of cumulative length 24 Somanike Project Exploration Potential 2014 airborne survey identified abundant and previously unknown ultramafic rocks Both “Raglan type” and “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. Property = 51.5 km2 Marbridge Mine 702,366 tonnes of ore grading 2.28% Ni, 0.1% Cu Sphinx discovery: 1.41 % Ni / 0.5 m Ledgend Ultramafic rocks Marbridge Mine (past producer) Targeting Nickel showings - 2015 Drill-ready Ni–Cu–PGE targets 2014 VTEM anomalies 25 Somanike Project Former Marbridge Mine No environmental legacy Strong community support and understanding of mining No agriculture over project area Marbridge Mine 1 Mine 2 First production Marbridge Mine, 1962 Past Producer 26 Somanike Project Marbridge Mine – 3D High-grade Nickel sulphide mineralization with ultramafic rocks Extensive untested ultramafic rocks identified Limited lateral drilling Mine 2 Mine 3 Mine 4 Mine 1 200m Open Unexplored 400m Open Composite Grades 2 - 10% Ni Grade map 1 - 2% Ni Looking South Looking southeast 27 Value drivers Cheechoo-Éléonore Trend Chemin Troilus Project Analyze till sampling survey Analyze till sampling results results Identify source of boulders Identify gold anomalies, Define and test drill targets investigate in the field and define drill targets Calumet-Sud/Green Palladium Somanike Project Analyze geochemical soil Identify project partner surveys and gravimetric survey Drill on selected targets in and results around Marbridge mine Drill palladium reef and zinc targets Continue to review project generation and acquisition opportunities 28 Sphinx Resources Ltd. 1000 De La Gauchetière, Suite 2100 Montreal, QC H3B 4W5 T: 1 514 979-4746 .