CMX Provides Update

CMX P Provides Upd date

Toronto, ON. Dece

ember 3rd, 2018. Chile ean Metals Inc. (“Chile ean Metals,”

” “CMX” o or the “Compan ny”)(TSX.V:CMX, OTC CQB: CMETF, SSE:CM A: IVV1, BER : MX, MILA:CMX, FRA IVV1). F Following its s successful annual gene eral and spe ecial meeting g which app proved the B Board as recom mmended by the managem ment of the C Company in n its managem ment inform mation circula ar, as disclosed d on Novemb ber 23, 2018 8, the Comp pany has requ uested from m the TSXV final approv val of 36,390 and a lift of the halt trade on the previ iously annou unced and cl losed financi ing for $1,63 n our common stock.

ned an additional $206, The Com mpany also r reports that it has obtain ,250 in fund ding by way y of a Debentur re. These debentures ar re with sim milar terms t to the earlier announce ed debentur re (as announce ed August 24, 2018) of $250,000, w where a fee o of 6% was p paid and inte erest of 14% % was prepaid f for the one y year term of the debentu ure. The Deb benture is sec cured agains st the Company’s assets. T The additiona al debenture es are subjec ct to the Com mpany’s loa an notice fil ling requirem ments with the TSXV.

“These d debentures were necessary to pay y off drillin ng contracto ors, legal fe ees, general l and administr rative expen nse. While h halt traded n no equity op ption was a available. W We expect in n near future to announce p plans which w will enable o our Compan ny to move f forward prod ductively in 2019 and to en ure for our 2019 nable these debentures to be repaid d and additi ional equity capital secu plans” co ommented C Chilean CEO Terry Lynch.

About Ch hilean Metal ls,

www.chi ileanmetals.c com/

The Qual lified Person n for Chilean n Metals Inc c., as defined d by Nationa al Instrument t 43-101, is Mick Sharry, M M.Sc. Consu ultant

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 looking s statements. F Forward-loo oking statem ments are sta atements tha at are not his storical facts and 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 or condit tions "will", "would", "m may", "could d" or "shoul ld" occur. Fo orward-look king statemen nts in ograms, activities this docu ument includ de statement ts regarding g current and d future exp ploration pro and resu ults. Although CMX b believes the e expectations expresse ed in such forward-loo oking ptions, such statements are not gua statemen nts are based d on reasona able assump 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 may nts are not g guarantees o of future per rformance a and actual results or de evelopments differ ma aterially from m those proje ected in the forward-look king stateme ents.