Sphinx Resources

Sphinx grants stock options

Montréal, January 17, 2019 – Sphinx Resources Ltd. (“Sphinx” or the “Corporation”)
(TSX-V: SFX) announces that a total of 750,000 stock options (the “Options”) has been granted to Jeremie Ryan nominated CEO, President and Director of the Corporation on December 19, 2018. These Options have an exercise price of $0.10 per share, are exercisable during a 10-year period and will vest in three (3) equal tranches. These Options have been granted in accordance with Sphinx’s stock option plan.

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 with a focus on zinc.

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

Jeremie Ryan
President and Chief Executive Officer
819.664.2632
info@sphinxresources.ca
www.sphinxresources.ca

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.