East Explora ent Prospec t i ation. deration for t h to be paid w of this Agre e $5,000 to the pands Co 25, 2018 Ch B: CMETF, ation License

CMX Exp C pands Co obalt Foc cus With h Econom my East Option

Toronto, ON. June 25, 2018 Ch hilean Metals s Inc. (“Chil lean Metals,”

” “CMX” or r the “Company”) (TSX.V:C CMX, OTCQB: CMETF, SSE:CMX, M MILA: CMX X) has entered d into an opt tion to acquir re the Economy East Explora ation License e which consi ists of 12 cla aims. Econom my East is loc cated 8km we est of our Tride ent Prospect i in the Cobeq quid Highland ds and is con nsidered pros spective for I IOCG-Cobalt style mineralisa ation.

In consid deration for th he Option, th he CMX sha all pay the O Optionor as fo ollows: (a) a a cash payme ent of $12,000 t to be paid w within 10 wo orking days o of receiving TSX Ventur re Exchange (the “Excha ange”) approval of this Agree ement; (b) an issuance of c common shar res (the “Shar res”) of the O Optionee, hav ving a value of $ $5,000 to the Optionor issu uable within 10 working d days of receiv ving Exchang ge approval o of this Agreement; (c) a cash payment of $5,000 paid to the Optionor on or before the first anniversary of the Exchange approval and all subsequent years thereafter; and (d) incur, within 3 years from the date of Exchange approval of this Agreement, at least $500,000 in exploration expenditures on the Property, upon which the CMX will have earned its Interest in the Property, subject only to the 10% Free Carried Interest and the 1% NSR Royalty to be held by Optionor. CMX may purchase the 10% Free Carried Interest for $500,000 payable in cash or shares and it may acquire the 1% NSR Royalty by paying $250,000 in cash or shares.

“We are very bullish on specific areas in the Cobequid Highlands and the potential for a major Cobalt and/or base metals discovery. We have recently completed drilling on our Castlereagh prospect in Bass River (Assays Pending Mid-Late July) and are completing a geophysical program over the recently acquired Trident Prospect where we will test later this summer a known Iron deposit, identified by Chilean Metals President Mick Sharry. Trident was the site of six core holes and a 1000 tonne bulk sample which were completed in the late 80’s. The bulk sample had noted interesting Cobalt results by the department of Natural Resources. We have submitted samples from that historic drill core for assay and will report on those when results are received. The Economy East project is interpreted to consist of very similar geology to Trident and as such is considered prospective for IOCG-Cobalt style mineralisation.

We will conduct a detailed Airborne Mag and Radiometrics survey on the project. moving as quickly as possible to obtain land access agreements, cut lines and conduct an IP survey. Following that drill targets will be defined by integrating all available data and a drill program will be proposed.

This is a summer of tremendous activity for Chilean as we rapidly have already identified and continue to pursue what we feel are very viable Cobalt and base metal targets in the Cobequid Highlands. We are excited to see what Mother Earth has in store for us as we explore this area.” commented CMX CEO Terry Lynch

About Chilean Metals,

www.chileanmetals.com/

Chilean Metals Inc. is a Canadian Junior Exploration Company focusing on high potential Copper Gold prospects in Chile & Canada.

Chilean Metals 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 owns a 3% NSR royalty interest on any future production from the Copaquire Cu-Mo deposit, recently sold to a subsidiary of Teck Resources Inc. (“Teck”). Under the terms of the sale agreement, Teck has the right to acquire one third of the 3% NSR for $3 million dollars at any time. The Copaquire property borders Teck’s producing Quebrada Blanca copper mine in Chile’s First Region.

Chilean Metals Inc is the 100% owner of five Copper Gold Cobalt exploration properties in Nova Scotia on the western flank of the Cobequid-Chedabucto Fault Zone (CCFZ); Fox River, Parrsboro, Lynn, Economy and Bass River North respectively. It has also optioned two additional projects Trident at Bass

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-l looking State ements: This news release may conta ain certain st tatements tha at may be de eemed "forward- -looking state ements". All s statements in this release, other than st tatements of h historical fact t, that elopments that CMX expects to occur address ev vents or deve r, are forward d looking sta atements. For rwardtatements are statements th looking st hat are not historical facts and are gene erally, but not t always, iden ntified anticipates", "believes", "i by the wo ords "expects s", "plans", "a intends", "est timates", "pro ojects", "pote ential" and simila ar expression ns, or that eve ents or condit tions "will", "would", "ma ay", "could" or "should" o occur. d future exploration Forward-l looking statem ments in this document inc clude stateme ents regarding g current and programs, , activities an nd results. A Although CMX X believes th he expectatio ons expressed d in such for rwardfuture looking statements are e based on re easonable ass sumptions, su uch statemen nts are not gu uarantees of f performan nce and actua al results may y differ mate erially from th hose in forwa ard-looking s statements. Fa actors that could d cause the ac ctual results t to differ mate erially from t those in forw ward-looking statements in nclude market pr rices, exploit tation and ex xploration su uccess, contin nued availab bility of capi ital and finan ncing, inability to obtain req quired regula atory or governmental ap pprovals and general eco onomic, mark ket or Investors are cautioned t business conditions. I that any such h statements s are not guarantees of f future performan nce and actu ual results or r developmen nts may diff fer materially y from those e projected i in the forward-lo ooking statem ments.