CMX Provides Update on AGM

CMX Provid C des Update on AGM

Toronto, ON. Nove

ember 23, 2018. Chile ean Metals I Inc. (“Chile ean Metals,”

” “CMX” or the “Compan ny”) (TSX.V V:CMX, OT TCQB: CME ETF, SSE:C CMX, MILA A:CMX, FRA A: IVV1, BER : IVV1) is s pleased to announce th he results of f its annual general and d special me eeting which h was held on November 2 23, 2018. I In accordan nce with the e TSX Ventu ure Exchang ge (“Exchan nge”) decision of July 27, , 2018, and as confirm med by the B BC Securiti ies Commission order ( (with reasons to follow) issued on N November 2 21, 2018 (a after the tim me of proxy y cut-off for r the meeting), the Compa any excluded d the shares that were issued in the p private place ement comp pleted in June 2 2018 from t the votes ta abulated at t the meeting by AST Tr rust Compan ny (Canada) ). As explained d in previo ous Compan ny news rel leases such shares hav ve not yet received fo ormal Exchange acceptance e.

Based on n these prem mises, with none of the e private pl lacement sha ares tabulated, the dire ectors Mallard and Greg nominate ed by the Co ompany, Mi ichael Sharr ry, Terry Ly ynch, Peter K Kent, Les M McKenzi ie were duly y elected an nd all other r items put forward in the Compan ny’s inform mation pointment o of auditors, approval of the circular dated Octob ber 22, 2018 were app proved – app settlemen nt shares, ratification of f the Advanc ce Notice Po olicy and rat tification of the stock op ption plan.

As previ iously annou unced on O October 5, 2 2018, the Bo oard had ap pproved an Advance N Notice Policy. T The full polic cy was disclo osed to share eholders by way of its O October 5, 20 018 news rel lease. The Board’s purpose e in adoptin ng the policy y was to ens sure that its shareholder rs have adeq quate time and information n to review a any proposed d new direct tors. The pol licy allows s shareholders time to evalua ate informa ation and so

• that unexp pected Boar rd nominati ions (from the floor of f the

meeting, for example

e) do not unr reasonably im mpact shareholders’ abi ility to make e informed vo oting decisions s, by the pro oxy cut off ti ime, as many y shareholde ers are not a able to attend d in person. The four additional nomina Company y’s October r 22, 2018 information circular disclosed f ations received in complian nce with the e Advance N Notice Polic cy. With no one of the private place ement shares ta abulated, the dissident nominees rec ceived substa antially less votes than the management nominees s and accord dingly were n not elected.

The Com mpany hopes s to promptl ly move forw ward with o obtaining fin nal Exchange e approval o of the private p placement, resuming tra ading and m moving forwa ard with its operations. “This last t year non-mini ing events b became inadvertently the e focus of th he Company

y. With this s vote we be elieve he many positive we can n now put this s non-produc ctive process behind us and focus i instead on th mining a and explorat tion opportu unities we ha ave. In the coming wee eks we will look forwa ard to bringing these assets s and opport tunities to th he forefront o of a plan to Make Chile ean Great Again” comment ted Terry Ly ynch, Chilean CEO 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 River and Economy East.

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

“Terry Lynch”

Terry Lynch, CEO

Contact: [email protected]

The Qualified Person for Chilean Metals Inc., as defined by National Instrument 43-101, is Mick Sharry, M.Sc. Consultant 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.