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PNPN.V ·

News release

Corporate Updates

s June 8th P Chilea an Clarifies Press relea ase 

Toronto, ON. July05, 2018 Chilean MetalsInc. (“Chilean Metals,”“CMX” orthe “Company”)
(TSX.V:CMX, OTCQB: CMETF, SSE:CMX, MILA: CMX).nd the financing is subjectto the
Venture Exchange has notapproved theclosing of the
The TSXtransaction a
review andapproval of the TSX Venture Exchange.criptions andg $1,636,390dollars. Ofwhich,
etals Inc. has closed asof today subs
Chilean Mfunds totalin
$1,171,590 was receivedunder the $0.12 hard-dollar Unit financing which provided investorsa share and ashare
purchasewarrant. The warrant and $0.18 will entitleinvestors to acquire a common share at anytime over the next
five years.An additional$465,000 of flow through units was sold.The Unit pricewas $0.16 which includes ashare
and a share purchase warrant. The warrant and $0.18 will entitleinvestors to acquire a common share at anytime
over the next five years.keep the offering open until the sooner ofts receipt of its original stated goal
any intends to
The CompJuly 26th or i
of $640,000 via flow through and $1,500,000 via direct unit investment.800 broker warrants in conjunction
s paid brokerage fees of $15,792 to eligible brokers and
Chilean hawill issue 120,
with the transaction. Each broker warrant will entitlethe holder forthe next 18 months to acquire additional units in
the offering under the same terms and conditions as the $0.12 unit.Scotia and Chile and to pay the
will be used to fund exploration on the Companies pro
Proceedsjects in Nova
previouslyannounced debt settlement of approximately $230,000 and to repay debentures of approximately
$460,000.ncing will clean up our balance sheet and enable us to fasand drilling decisions particularly
“This finat track drilling
on our Nova Scotia projects. We havecompleted Phase 1 drillingon initial project in Nova Scotia, the BassRiver
Castlereagh Project. Assays have beensent to Actlabs for analysis with an expectation of results in late July. In
addition we have commenced airbornesurveys overour recently optioned projects Trident (Bass River South) and
EconomyEast. We expect to followthat up withground IP later this summerand drillingin Q3.” commented
Chilean CEO Terry Lynch

About Ch hilean Metal ls,

www.chi ileanmetals.c com/

ChileanMetals Inc.is a Canadian JuniorExploration Companyfocusing on high potential
CopperGold prospects in Chile& Canada.
ChileanMetals Inc is 100% owner of five properties comprising over 50,000 acres strategically
located in the prolific IOCG (“Iron oxide-copper-gold”)belt of northern Chile. It also ownsa 3%
NSR royalty intereston any future production from theCopaquireCu-Mo deposit, recentlysold
to a subsidiary of Teck Resources Inc. (“Teck”). Under the terms ofthe sale agreement, Teck has
the rightto acquireone third ofthe 3% NSR for $3 million dollarsat any time. The Copaquire
propertyborders Teck’s producing QuebradaBlanca copper mine inChile’s First Region.
ChileanMetals Inc isthe 100% owner of five Copper GoldCobalt exploration properties in NovaScotia
on the western flankof the Cobequid-Chedabucto Fault Zone (CCFZ); Fox River,Parrsboro,Lynn,
Economyand Bass River North respectively. Ithas also optioned two additional projects Trident atBass
River and EconomyEast. ChileanMetals is exploring, analyzing anddrilling theseproperties in the
summer of 2018.
TORS OF
ON BEHALF OF THE BOARDOF DIRECTORS OF
ChileanMetals Inc.an & CEO
“Terry Lynch”
Terry Lynch, Chairman & CEO
m
Contact:terry@chileanmetals.com

Forward- -looking Sta atements: Th his news re elease may contain cert tain stateme ents that ma ay be deemed "forward-loo oking statem ments". All statements i in this relea ase, other th han statemen nts of historical l fact, that address eve ents or developments th hat CMX ex xpects to oc ccur, are for rward storical facts and looking s statements. F Forward-loo oking statem ments are sta atements tha at are not his are gene erally, but not always s, identified d by the w words "expe ects", "plans s", "anticipa ates", "believes s", "intends"

", "estimates", "projects"

", "potential" and simila ar expression ns, or that e events tions "will", "would", "m or condit may", "could d" or "shoul ld" occur. Fo orward-look king statemen nts in this docu ument includ de statement ts regarding g current and d future exp ploration pro ograms, activities and resu ults. Although CMX b believes the e expectations expresse ed in such forward-loo oking statemen nts are based d on reasona able assump ptions, such statements are not gua arantees of f future performa ance and act tual results m may differ m materially fro om those in forward-loo oking statem ments. Factors t that could c cause the actual results to differ m materially fro om those in forward-loo oking statemen nts include m market prices s, exploitatio on and explo oration success, continued availabili ity of capital a and financin ng, inability to obtain r required reg gulatory or g governmenta al approvals s and general economic, market or business co onditions. I Investors ar re cautioned d that any such statemen nts are not g guarantees o of future per rformance a and actual results or de evelopments may king stateme differ ma aterially from m those proje ected in the forward-look ents.

The Qualif fied Person fo or Chilean Met tals Inc., as de efined by Nati ional Instrume ent 43-101, is Mick Sharry, M.Sc. Consultant t

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

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