Successfully Generating Robust Precious Metals and Zinc Projects Sphinx Resources Ltd. March 2017
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, (Eng., 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 Successful project generator Strategy & focus Why Quebec? 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) Bracemac-McLeod (zinc-copper) Voisey s Bay (nickel) Focus on precious metals and high-grade zinc-precious metals All projects within proximity of existing or previous mines Actively identifying new projects 3
Successful Project Generator Social acceptability Ground access Precious & base metals potential High grade metamorphic terranes Project generation Deal flow with strategic partners Long-term shareholder value 4
Outperformed the TSXV Data Sources: S&P Capital IQ and Yahoo Finance Source: Fundamental Research Corp. 5
Strategy & Focus Maximize deal flow with strategic partners Generate quality projects with: high-grade precious metals with focus on zinc 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 6
Why Quebec? Quebec: 6 th rank on worldwide investment attractiveness index Fraser Institute - Survey of mining companies 2016 Significant tax advantages (tax credit and low after-tax cost for flow-through-share) Sphinx s team has considerable experience in Quebec 7
2014 to 2016 11 transactions 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) Calumet-Sud: zinc-lead-silver-gold Green Palladium: palladium-platinum-copper Osisko Gold Royalties, RNC Minerals, Globex (100% Sphinx) Somanike: nickel-copper and platinum-group elements 8
Ownership Shares outstanding: Fully diluted: 84 M 129 M Management, Board & Advisory Committee: 12 % Quebec institutions: 20 % 70 shareholders: 72 % of shares 9
Team Normand Champigny, M.A.Sc., Eng. - 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 10
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 Over 25 years of experience in accounting and finance of public companies and since 2004 involved with several mining exploration companies 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 11
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 territory Underexplored gold trend continuing from: Sirios Cheechoo gold discovery Éléonore gold mine (operated by Goldcorp) Planned program: Till sampling survey along trend (completed) Identify gold anomalies and investigate in the field 12
Calumet-Sud Green Palladium Projects Calumet-Sud Strong 1,800-metre long lead-zinc anomaly New electromagnetic anomalies, 2 to 3 km from New Calumet Mine Trenches include 3% Zn over 10 m 6.9% Zn over 1 m 100% owned, 50% option to SOQUEM 2% NSR to Gardin Extension of SW portion of palladium mineralization of Green Palladium Planned program: drill Q1 2017 Green Palladium 3.44g/t PGE discovered by drilling 3.3 g/t, 2.3 g/t and 0.6 g/t Pd as well as 3.2%, 3.3% and 0.2% Cu surface sample Obwondiag layered igneous complex discovered New and untested PGE reef with a potential extent of 11 km Presence of 4 kilometric scale target zones within the complex 2 or possibly 3 potential horizons of interest for PGE, open in all directions 100% owned, 2% NSR to Gardin Planned program: drill Q1 2017 13
Chemin Troïlus Project Q3 2016, recovered pristine gold grains in tills suggesting proximal source in bedrock of mineralized boulders Within corridor containing former gold-copper Troilus mine (produced 2 million ounces of gold and 70,000 tonnes of copper), discovered by boulder tracing and drilling Located 110 km north-northwest of Chibougamau, Eeyou Istchee James Bay territory, good road access Acquired from Les Ressources Tectonic, 33 km 2 (100% owned) Planned program: Perform surface geophysics, define and test drill targets - Q2-Q3 2017 14
Somanike Project Drilling: 1.41% Ni, 0.05% Cu, 0.30 g/t Pd, 0.04 g/t Pt @ 0.5 m, includes former Marbridge mine: 0.7 Mt @ 2.3% Ni, 0.1% Cu Drill targets Open depth and strike extension of Marbridge s Mine 2-0.15 Mt > 3% Ni) Other areas: 10 conductors over 4 km of cumulative length Acquisition from Virginia/Royal Nickel/Globex, 47 km 2 (100% owned) Cooperation agreement with Abitibiwinni first nation/pikogan Planned program: Identify strategic project partner Drill on selected high-grade nickel-platinum group elements targets in and around Marbridge mine 15
Value drivers Calumet-Sud/Green Palladium Drill surface zinc-silver-gold and palladium reef targets (Q1) Chemin Troilus Project Perform surface geophysics, to identify source of boulders & define and test drill targets (Q2-Q3) Cheechoo-Éléonore Trend Perform more sampling of tills and prospecting Define drill targets (Q2-Q3) Somanike Project Identify project partner Drill on selected targets in and around Marbridge mine Continue to review project generation and acquisition opportunities 16
Appendix Maps of projects & results 17
Sphinx Projects Projects Zinc: Calumet Sud: 100% under Agreement with SOQUEM PGE copper: Green Palladium: 100% Gold: Eleonore Cheechoo Trend: under agreement with SIRIOS Gold: Chemin Troilus: 100% Nickel copper PGE, gold: Somanike: 100% 18
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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 Pd + Pt + Au Discovery 3.45 g/t Pd+Pt+Au / 0.40m, and 1.25 g/t Pd+Pt+Au / 1.50m. Obwondiag layered igneous complex Located in the Pontiac Regional County Municipality in southern Québec Zinc Discovery 5.4% Zn over 2 m Exploration and mining friendly region Excellent infrastructure Potential for: Magmatic PGE Magmatic Ni-Cu-PGE Carbonate-hosted zinc Gold-rich VMS 21
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Palladium-copper Mineralization Sample MB250414-01 3.2 g/t Pd, 3.2% Cu, 0.18% Ni, 84 ppb Pt, 143 ppb Au 26
Green Palladium Project Surface mineralization Cloudy & disseminated chalcopyrite 60 Mingling textures pyroxenite in gabbro 27
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Green Palladium Surface Geochemistry Palladium-Copper Discovery Sample MB250414-01 3.2 g/t Pd, 3.2% Cu, 0.18% Ni, 84 ppb Pt, 143 ppb Au 3.45 g/t PGE /0.40m 1.25 g/t PGE / 1.50m Soil geochemistry (Niton portable XRF) Copper = main indicator Spot cobalt 29
Green Palladium Project Palladium-Copper Discovery 3.45 g/t PGE /0.40m 1.25 g/t PGE / 1.50m E 2017 Exploration Program A Main showing 3 DDH B SW Extension 2 DDH 1 deepening A D C - Outer trend 2 DDH C B D Inner Trend Field check 1 DDH E Zone Nord Field check 1 DDH Field check airborne picks 30
Gold-bearing boulder, sample 963314 : 1.57g/t Au 31
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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. Project = 51.5 km 2 Marbridge Mine 702,366 tonnes of ore grading 2.28% Ni, 0.1% Cu Sphinx discovery: 1.41 % Ni / 0.5 m Legend Ultramafic rocks Marbridge Mine (past producer) Targeting Nickel showings - 2015 Drill-ready Ni Cu PGE targets VTEM anomalies - 2014 34
Somanike Project Former Marbridge Mine No environmental legacy. Strong community support and understanding of mining. No agriculture over project area. Mine 1 Marbridge Mine 2 First production Marbridge Mine, 1962 Past Producer 35
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 400m Open Open Unexplored Composite Grades 2-10% Ni 1-2% Ni Grade map Looking southeast 36
Sphinx Resources Ltd. 1000 De La Gauchetière, Suite 2100 Montreal, QC H3B 4W5 T: 1 514 979-4746