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Sphinx Resources Ltd

Exchange: TSXV Exchange | Mar 21, 2018, 10:22 PM EDT

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Sphinx and SOQUEM intersect 6.6% zinc over 1.4 metre within a stratiform, shallow-dipping and near-surface horizon grading 3.0% zinc over 6.8 metres in drilling on the Calumet-Sud project

MONTREAL, March 06, 2018 (GLOBE NEWSWIRE) -- Sphinx Resources Ltd. (“Sphinx” or the “Corporation”) (TSX-V:SFX) and its partner SOQUEM are pleased to announce that hole CS-18-07 returned 6.6% zinc over 1.4 m within a stratiform and shallow-dipping mineralized horizon that graded 3.0% zinc over a 6.8 m length beginning at a depth of 18 m from their recently completed diamond drilling program on the Calumet-Sud zinc project in Quebec. This hole follows the announcement of the results of hole CS-18-06 that returned 9.0% zinc over 1 m within the same mineralized horizon that graded 3.1% zinc over a 6.4 m length beginning at a depth of 15.6 m (see press release of February 22, 2018).

Based on outcrop measurements of mineralization and drill hole orientation, the true thickness is estimated at 97% of the drilled length. Assays are pending for the remaining nine (9) holes. The above holes are 24 m apart.

Analytical protocol

Samples were analyzed by ALS in Val d’Or, Quebec. The analytical process consisted of crushing, splitting and assaying using sodium peroxide digest finish with ICP AES finish. Sphinx applies industry-standard QA/QC procedures to the program.

Qualified Persons

The drilling program was managed by Sphinx under the supervision of Normand Champigny and under the field direction of Michel Gauthier, Ph.D. (géo, and Board member of the Corporation) and, who are Qualified Persons under National Instrument 43-101. This press release was prepared by Normand Champigny, Qualified Person for Sphinx.


SOQUEM, a subsidiary of Ressources 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 6th globally (Fraser Institute press release, February 22 2018). 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.

For further information, please consult Sphinx’s website or contact:

Normand Champigny

President and Chief Executive Officer

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.

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