MONTREAL, QUEBEC--(Marketwired - July 13, 2017) - Sphinx Resources Ltd. ("Sphinx" or the "Corporation") (TSX VENTURE:SFX) is pleased to announce the results from the 2017 drill program carried out earlier this year on its Calumet-Sud project (the "Project"). High grade zinc intervals (Table 1) were returned from dolomitic marble rocks within four (4) newly interpreted horizons. These horizons are defined by strongly anomalous zinc values (Table 2) and the presence of massive sphalerite bands ranging from one centimeter to several centimeters in thickness, as well as both stringer and disseminated sphalerite. The horizons occur over a 1.5 km strike length and an area of 1,0 km², dip shallowly to the east, and are open both along strike and down dip. The best interval intersected was from drillhole 1400-17-03 that returned 4.11% zinc over 3.0 m drilled width (2.93 m true width) from 12.0 to 15.0 m in the Sonny horizon. Summary results are presented in Table 1. Table 2 (attached) shows the results for broad mineralized intervals. The attached Figure 1 provides the geographical information.

Table 1: Summary of drillhole assay results. Length weighted composite intervals.
Hole Name			From (m)	To (m)	Drilled width (m)	Estimated true width (m)	Zinc %	Silver Gpt	Horizon Name
1400-17-01			125.00	135.00	10.00	9.73	0.03	2.46	SW3
1400-17-03			8.00	9.00	1.00	0.97	2.27	0.10	Sonny
		And	12.00	15.00	3.00	2.93	4.11	0.10	Sonny
1400-17-04			2.60	7.00	4.40	4.30	1.46	0.20	SW1
1400-17-05			38.00	39.00	1.00	0.96	1.00	0.10	SW2
1400-17-09			13.00	14.00	1.00	1.00	0.38	0.10	Sonny
1400-17-10			21.00	22.00	1.00	0.74	1.09	0.50	Sonny
1400-17-11			25.00	26.00	1.00	0.97	2.09	0.40	SW2
1400-17-12			59.80	60.80	1.00	0.97	1.11	0.20	Unknown
		And	71.60	73.30	1.70	1.64	2.46	0.20	SW1
		And	79.50	80.00	0.50	0.48	2.57	0.20	SW1
1400-17-13			48.70	50.00	1.30	1.23	1.81	0.10	SW2

A total of 13 holes (1,098 m) distributed over a surface area of 1.5 km², tested targets based on coincident ground geophysical and geochemical anomalies related to surface mineralization identified in surface channel samples (press releases of February 22 and April 5, 2017). These drillholes are the first to be drilled in this area and no historical drilling was conducted in the vicinity of the targeted anomalies. The mineralization intersected remains open for further investigation. The results of the drilling campaign confirm the significance of the mineralization identified on surface and demonstrate the potential to identify high-grade, carbonate-hosted zinc on the Project. Sphinx and its partner SOQUEM are planning an exploration program to further investigate these results.

The drilling program was performed by Forage G4 of Val d'Or with the participation of Michel Gauthier, Ph.D. (géo, and Board member of the Corporation). On-site personnel at the Project collected and tracked samples which were then security sealed and shipped to SOQUEM's core sawing facility in Val d'Or, Quebec. Half-core sawed samples were delivered to ALS Chemex in Val d'Or, for crushing, splitting and assaying using aqua regia digest with a finish by inductively coupled plasma mass spectrometry (ICP-41 method). All sample pulps and rejects with zinc grades higher than 10,000 ppm (1%) were re-analyzed using aqua regia digest and analyzed by Inductively coupled plasma mass spectrometry for ore grade (method Zn-OG46).

Analytical accuracy and precision were monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control was further assured by the use of international and in-house standards. Blind certified reference material was inserted at regular intervals into the sample sequence by SOQUEM personnel in order to independently assess analytical accuracy. ALS Chemex's quality system complies with the requirements for the International Standards ISO 17025. Representative blind duplicate samples were routinely forwarded to an ISO compliant third party laboratory for external quality control.

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 was the operator and funded the program. To the north, the Project is adjacent to the former New Calumet zinc-lead-silver-gold mine. To the north, the Project is adjacent to the old zinc-lead-silver-gold New Calumet mine. The Project is also adjacent to Green Palladium project consisting of 86 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.

About SOQUEM

SOQUEM, a subsidiary of Investissement 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 6^th globally (Fraser Institute press release, February 28 2017). 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release 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.

To view Table 2, please visit the following link: http://media3.marketwire.com/docs/SFX_PR_2017-07-13_C-S_drilling_results_Table_2_eng.pdf

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/SFX_PR_2017-07-13_C-S_Results_figure.pdf