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Participatio defined u n Because th

Corporate Updates

Chilean Raises $1.65 Million n and Anno ounces An nnual Meeting. 

Toronto, ON. June8, 2018 Chilean MetalsInc. (“Chilean Metals,”“CMX” orthe “Company”)
(TSX.V:CMX, OTCQB: CMETF, SSE:CMX, MILA: CMX).ximately $1.65 million dollars.
Metals Inc. has receivedsubscriptionsand funds t
Chileanotaling appro
Approximately $1,185,000 was received under the$0.12 Unit financing whichprovided investors a shareand a
share purchase warrant.The warrant and $0.18 will entitle investors to acquire acommon shareat anytime over the
next five years. An additional $465,000 of flow through units wassold. The Unit price was $0.16 which includes a
share anda share purchase warrant.The warrant and $0.18 willentitle investors to acquirea common share at
anytime over the next five years. Thisfinancing is subject to the review and approval of the TSX Venture Exchange
(“TSXV”).ge fees of $15,792 to eligible brokers and800 broker warrants in conjunction
ill pay brokera
Chilean wwill 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 andconditions asthe $0.12 Unit. All securities issued under the financing are
subject toa four-month hold period inaccordance with applicable securities laws.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
$440,000.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 arecurrently drilling and evaluating our initial project in Nova Scotia, the Bass
River Castlereagh Project. Assays willbe sent in thecoming weeks to Actlabs for analysis with an expectation of
results in early August.”commented Chilean CEO, Terry Lynch.meeting for Toronto on September
ld also like toadvise its shareholders thatit has schedul
CMX woued its annual
5th with aJuly 9th record date. Detailson exact location and timingwill be contained in the meeting circular.ion as
on of the insiders of the Company in the private placutes a relatedparty transact
Participatiement constit
defined under Multilateral Instrument61-101 (Protection of Minority SecurityHolders in Special Transactions).
Because the Company’sshares trade on the TSXV,the issuance of securities isexempt fromthe formal valuation
requirements of Section5.4 of MI 61-101 pursuant toSubsection 5.5(b) of MI 61-101 and exempt from the minority
approval requirements ofSection 5.6 of MI 61-101. The Companydid not file a material changereport 21 days prior
to the closing of the private placement as the detailsof the participation of insiders of the Company had not been
confirmedat that time.

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 four Copper Gold exploration properties in Nova
Scotia on the western flank of the Cobequid-Chedabucto Fault Zone (CCFZ); Fox River,
Parrsboro, Lynn and Bass River North respectively. Initial targeting and geophysics has been
conducted on all properties, At Bass River North, airborne geophysics identified a major VTEM
cluster on trend with the Pb/Zn/Ag mineralization exposed at surface and in drill holes to the
southwest. Modeling of the airborne data and subsequentby
Minotaur (Australia) identified 1 target of considerable size for priority drilling.

ON BEHALF OF THE BOARD OF DIRECTORS OF Chilean Metals Inc.

“Terry Lynch”

Terry Lynch, Chairman & CEO

Contact: [email protected]

Forward-looking Statements: This news release may contain certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that CMX expects to occur, are forward looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this document include statements regarding current and future exploration programs, activities and results. Although CMX believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing, inability to obtain required regulatory or governmental approvals and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

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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