Chilean Metals Inc. Engages Paradox Investor Relations

TORONTO, March 4, 2021 - Chilean Metals Inc. (TSXV:CMX)(OTCBB:CMETF)(FRANKFURT:IVVN ) (the "Company") is pleased to announce additional efforts to broaden awareness for the Company in the investment community through the engagement of Relations Publiques Paradox Inc.

Terry Lynch, Chilean CEO stated, "As a small public company, the onus is on us to make sure investors are aware of the unique investment opportunities presented in Chilean Metals. We have a transformative year with the two acquisitions we made and I am sure most shareholders and investors are not aware of the very real near-term potential of the acquisition of the Golden Ivan project in BC's famed Golden Triangle and the very exciting Battery Metal play (NISK) we acquired in James Bay. Paradox is in our opinion the leading IR firm in our space as it relates to direct 1:1 Investor communications. They don't take on every deal and they typically, as the case is with CMX, have a significant investment in the companies they introduce to their network."

Jean Francois Meilleur, Paradox Managing Director stated:

"We are very pleased to bring the developing Chilean Metals Story to our investor network. Terry and his team have made two very important acquisitions that have transformed the Company. In particular, we are highly optimistic about the NISK Battery Metals project which features a historical resource we believe has an excellent opportunity to be grown into a mineable deposit.

(Historical Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec. Dated "December 2009")

• Measured resource: 1,255,000 tonnes at 1.09% Ni; 0.56% Cu; 0.07% Co; 1.11 g/t Pd and 0.20 g/t Pt;
• Indicated resource: 783,000 tonnes at 1.00% Ni; 0.53% Cu; 0.06% Co; 0.91 g/t Pd and 0.29 g/t Pt;
• Inferred resource: 1,053,000 tonnes at 0.81% Ni; 0.32% Cu; 0.06% Co; 1.06 g/t Pd and 0.50 g/t Pt.

We don't think most investors are aware of this transformation and believe this disconnect can be eliminated with additional investor communication and it will be our goal over the coming weeks and months to bring this message to our investment community.

The engagement of Paradox is for a 2 year term. Chilean will make cash payments to Paradox of $10,000 per month for the first 12 months and also grant Paradox an option to acquire 800,000 common shares Chilean at a price of $0.31 for a 24-month period. Such options shall vest and be exercisable in four (4) equal tranches, quarterly over a 12 month period. Any unexercised options shall terminate on the earlier of the expiry date of such options and the date which is 30 days following the termination of this Agreement.

About Chilean Metals Inc.

Chilean Metals is a Canadian junior exploration company focusing on high-potential copper, gold, and battery metal prospects in Chile and Canada.

Chilean Metals is the 100-per-cent owner of five properties comprising over 50,000 acres strategically located in the prolific iron-oxide-copper-gold belt of northern Chile. It also owns a 3-per-cent NSR royalty interest on any future production from the Copaquire copper-molybdenum deposit, recently sold to a subsidiary of Teck resources Inc. Under the terms of the sale agreement, Teck has the right to acquire one-third of the 3-per-cent NSR for $3-million at any time. The Copaquire property borders Teck's producing Quebrada Blanca copper mine in Chile's first region.

Chilean Metals has as of January 13, 2021, completed the acquisition of its option to acquire the Golden Ivan project in the heart of the golden triangle. The golden triangle has reported mineral resources (past production and current resources) in a total of 67 million ounces of gold, 569 million ounces of silver, and 27 billion pounds of copper. This property hosts two known mineral showings (gold ore and magee), and a portion of the past-producing Silverado mine, which was reportedly exploited between 1921 and 1939. These mineral showings are described to be Polymetallic veins that contain quantities of silver, lead, zinc, plus/minus gold and plus/minus copper.

On February 1, 2021, Chilean Metals completed the acquisition of its option to acquire up to 80% of the Nisk project. The Nisk project has a historical resource.

Table ?1: Historical Resource Estimate figures for respective confidence categories at the NISK-1 deposit, After RSW Inc 2009: Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec.

The information regarding the NISK-1 deposit was derived from the technical report titled "Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec" dated December 2009. The key assumptions, parameters, and methods used to prepare the mineral resource estimates described above are set out in the technical report

The Nisk property comprises a large land position (20 kilometers of strike length) with numerous high-grade intercepts outside the current resource area. Chilean is focused on expanding its current high-grade nickel-copper PGE mineralization historical resource prepared in accordance with NI 43-101, identifying additional high-grade mineralization, and developing a process to potentially produce nickel sulphates responsibly for batteries for the electric vehicles industry.

Qualified Person

Qualified Person Luke van der Meer, P.Geo. (Licence # 37848), Independent Geological Consultant, Qualified Person under NI 43- 101 on standards of disclosure for mineral projects, has reviewed and approved the technical content of this release.

ON BEHALF OF THE BOARD OF DIRECTORS

Chilean Metals Inc.
Terry Lynch
CEO
647-448-8044

For further information, readers are encouraged to contact:

Chilean Metals Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON
Terry Lynch & CEO terry@chileanmetals.com

Cautionary Note Regarding Forward-Looking Statement

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. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

SOURCE: Chilean Metals Inc.