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
C
Toronto,
(TSX.V:C
Economy
our Trid e
mineralisa
In consi d
$12,000 t
approval
value of $
CMX Exp
ON. June
CMX, OTC Q
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
in the Cobe q
he Option, t h
within 10 w o
ement; (b) an
Optionor issu
obalt Foc
hilean Metal s
SSE:CMX, M
e which cons i
quid Highlan d
he CMX sh a
orking days o
issuance of c
uable within
cus With
s Inc. (“Chi l
MILA: CM X
ists of 12 cl a
ds and is co n
all pay the O
of receiving
common shar
10 working d
h Econom
lean Metals, ”
X) has entere d
aims. Econom
nsidered pros
Optionor as f o
TSX Ventu r
res (the “Shar
days of receiv
my East
” “CMX” o r
d into an op t
my East is lo c
spective for I
ollows: (a) a
re Exchange
res”) of the O
ving Exchang
Option
r the “Comp
tion to acqui r
cated 8km w e
IOCG-Cobalt
a cash paym e
(the “Exch a
Optionee, hav
ge approval o
any”)
re the
est of
style
ent of
ange”)
ving a
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 s ubsequent years thereafter; and (d) incur, within 3 years from the date of
Exchange approval of this Agreement, at least $50 0,000 in explora tion 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 a nd it may acquire the 1% NSR Royalty by paying
$250,000 in cash or shares.
“We are very bullish on specific areas in the Cobe quid Highlands and the potential for a major Cobalt
and/or base metals discovery. We have recently comp leted drilling on our Castlereagh prospect in Bass
River (Assays Pending Mid-Late July) and are co mpleting a geophysical program over the recently
acquired Trident Prospect where we will test late r 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 th e late 80’s. The bulk sample had noted interesting Cobalt results by
the department of Natural Resources. We have subm itted 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 ba se metal targets in the Cobequid Highlands. We are
excited to see what Mother Earth has in store fo r us as we explore this area.” commented CMX CEO
Terry Lynch
About Chilean Metals,
www.chileanmetals.com/
Chilean Metals Inc. is a Canadian Junior Expl oration 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-coppe r-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 a ny 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 al so optioned two additional projects Trident at Bass
River an d
summer o
ON BEHA
Chilean M
“Terry Ly
Terry Lyn
Contact: t
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F DIRECTOR
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