Prioritizing please with forward.” Chilean f o standards. the DNR fa the core bo tie, and ide unless the in a secure inserts cert

As ssays Re eceived f for Castl lereagh Drilling 

Toronto, ON. Au

ugust 8th, 2018. Chi ilean Metals Inc. (“Chilean Metals,”

” “CMX” or r the R : IVV1). Chilean “Company y”)(TSX.V:CM MX, OTCQB: CMETF, SSE E:CMX, MILA A:CMX, FRA A: IVV1, BER Metals has s received the a assay results fro om two drillho oles at the Cast tlereagh prospe ect at Bass River in Nova Sco otia.

es intersected strong Two holes s were drilled to test a stron ng EM conduct tor at the Cast tlereagh prosp pect. Both hole sulphide m mineralisation in the target zo ones but in both h instances the e sulphide assem mblage is dom minated by pyrr rhotite and not ba ase metal sulp phides. As exp pected from visual assessmen nt of the core e, no significan nt assays have e been returned.

Mick Shar rry, President t and COO of f Chilean Met tals commente

ed as follows: “In the short period of time e since the manag gement restruct ture we have t tested the Cast tlereagh targe et and brought t it to a decisio on point. In pa arallel with that we have defin ned and alread dy executed p phase 1 of our r Cobalt strat tegy by succes ssfully securin ng key tenements, conducting ge eophysical sur rveys which ha ave defined lar rge targets and d located and re-sampled hi istoric drill core which has retu urned strong C Cobalt results associated wi ith one of thos se geophysical l targets. We h have a strong pip peline of Coba alt and IOCG prospects, of which the Co obalt targets a are definitely t the highest pr riority. Prioritizing g and systematically testing quality targets s is the key to adding value f for our shareh holders and I’m m very please with h how we are d delivering on t that. I’m really y looking forw ward to testing these quality C Cobalt targets going forward.”

Chilean fo ollows systematic and rigor rous sampling g and analytic cal protocols w which meet a and exceed ind dustry standards. All drill holes are diamond c core holes with h NQ core diam meters. Drill c core is transpo orted to and sto ored at the DNR fa acility at Stella arton. The core e is then cut in half with a dia amond saw bla ade with half th he sample retained in the core bo ox for future reference and t the other half p placed into a p pre-labelled pla astic bag, seale ed with a plast tic zip tie, and ide entified with a unique sample e number. The e core is typica ally sampled o over a 1 to 2 m meter sample in nterval unless the geologist deter rmines the pres sence of an imp portant geolog gical contact. T The bagged sam mples are then stored in a secure e area and are t then sent by ba atch to the Act tlabs laboratori ies in Ancaster r for assay. Ch hilean independently inserts cert tified control s standards, coar rse field blank ks, and duplica ates into the sa ample stream w where appropri iate to monitor da ata quality. Th hese standards s are inserted “blindly” to t the laboratory in the sample sequence pr rior to shipping. Laboratory dup plicates are als so analyzed. A At the laboratory y samples are dried, crushed d, and pulverize ed and then analyz zed using a com mbination of IN NAA and ICP- -OES.

About Chilean Metals,

www.chile eanmetals.com/ /

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

Forward-lo ooking Statem ments: This new ws release ma ay contain cer rtain statement ts that may be e deemed "for rwardlooking sta atements". All statements in this release, o other than stat tements of hist torical fact, th hat address eve ents or developme ents that CMX X expects to occur, are fo orward lookin ng statements. Forward-look king statemen nts are statements that are not hi istorical facts a and are genera ally, but not alw ways, identifie ed by the word ds "expects", "p plans", "anticipate es", "believes", , "intends", "e estimates", "pro ojects", "poten ntial" and simi ilar expression ns, or that eve ents or conditions "will", "would d", "may", "cou uld" or "should d" occur. Forw ward-looking st tatements in th his document in nclude statements regarding cur rrent and futur re exploration programs, act tivities and res sults. Although h CMX believ ves the expectation ns expressed in such forwar rd-looking state ements are based on reasonable assumptio ons, such state ements are not gu uarantees of fu uture performan nce and actual l results may differ material lly from those e in forward-lo ooking statements. Factors that c could cause the actual results s to differ mat terially from th hose in forward d-looking state ements include ma arket prices, ex xploitation and d exploration su uccess, continu ued availability y of capital and d financing, in nability to obtain r required regul latory or gove ernmental appr rovals and gen neral economi ic, market or business cond ditions. Investors a are cautioned that any such statements ar re not guarante ees of future p performance a and actual resu ults or developme ents may differ r materially from those projec cted in the forw ward-looking st tatements.