Minotaur Exploration Limited

Published : June 29th, 2016

CHILEAN METALS ENTER STRATEGIC ADVISORY AGREEMENT WITH MINOTAUR EXPLORATION LIMITED (AUSTRALIA)

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Keywords :   Australia | Chile | Copper | Evaluation | Gold | Iron | Lead | Market | Target | Zinc |

CHILEAN METALS ENTER STRATEGIC ADVISORY AGREEMENT WITH MINOTAUR EXPLORATION LIMITED (AUSTRALIA)

3e56a97c-bfa5-431c-8059-9304e391b163.pdf

CHILEAN METALS ENTER STRATEGIC ADVISORY AGREEMENT WITH MINOTAUR EXPLORATION LIMITED (AUSTRALIA)

TORONTO, ON. June 27, 2016. Chilean Metals Inc. ("Chilean Metals," "CMX" or the "Company") (TSX.V:CMX, OTCQB: CMETF, SSE:CMX ).

Chilean Metals Inc. ("CMX") is pleased to announce that it has entered into an advisory services agreement with Minotaur Exploration Limited ("Minotaur") a company listed on the Australian Securities Exchange (ASX) under ticker MEP. The agreement provides for Minotaur to provide technical services, in particular geophysical processing and target prioritization recommendations for the CMX Projects located along the Atacama Structural Zone in Region III, Chile. These advanced IOCG / Porphyry Copper gold projects include Zulema, Palo Negro / Hornitos and Tierra de Oro (TDO). Located 18 miles due west of Lundin Mining's Candelaria mine, the target at Zulema is a copper - gold stockwork underlying the desert sands. With surface geology similar to Candelaria and both copper and gold at surface, ground based gravity, as recommended by Minotaur, is scheduled to commence in August. Additional ground geophysics prior to the Phase I drill program is also under consideration to refine targeting. Previous drilling has intersected 22 meters of 0.45% Cu and 0.11 g/t Au.

Tony Belperio, Minotaur Director of Business Development comments "We look forward to further assisting Chilean Metals with their exploration challenges, technical data evaluation and targeting on their Chile Copper Belt projects."

Patrick J Cruickshank, Chilean CEO states " We are honoured to be working strategically with Tony Belperio & Minotaur Exploration Limited of Australia to assist in our exploration program in Chile, especially our Zulema & TDO Properties. We have known Minotaur for several years now and have the highest respect for their technical abilities. We are very excited to have them join the Team".

About Minotaur

Minotaur applies advanced geophysical techniques to locate virgin mineralization deep below the surface. Often, economic mineral deposits are contained within basement rocks, buried below several hundred metres of transported cover (overburden) and cannot be located through surface exploration methods such as soil sampling, geochemical assays and drilling. Minotaur's remote sensing and interpretative approach has proven very successful. The directors and management of Minotaur each have around 30 years of exploration, mining and mineral resource experience and are eminently qualified in their respective fields of expertise. Under their direction, Minotaur has earned a strong reputation for technical excellence and a high profile within the Australian resources sector. The company is actively exploring IOCG style targets in the Cloncurry District of Australia, where geophysics have identified numerous sub-surface anomalies prospective for copper-gold mineralization. Other targets are prospective for base metals such as zinc, lead, copper. Minotaur are credited with discovering the massive Prominent Hill deposit, Australia and more recently, the Cloncurry, Artemis Copper Gold deposit.

About Chilean Metals

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.

The Qualified Person for Chilean Metals Inc., as defined by National Instrument 43-101, is Gary Lohman, P. Geo., Vice President, Exploration & Director.

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.

ON BEHALF OF THE BOARD OF DIRECTORS OF

Chilean Metals Inc. "Patrick J Cruickshank"

Patrick J Cruickshank, MBA, CEO Contact: [email protected]

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

AC/2992105.1

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Data and Statistics for these countries : Australia | Chile | All
Gold and Silver Prices for these countries : Australia | Chile | All

Minotaur Exploration Limited

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CODE : MEP.AX
ISIN : AU000000MEP8
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Minotaur Expl. is a exploration company based in Autralia.

Minotaur Expl. develops kaolin in Australia, and holds various exploration projects in Australia and in Chile.

Its main asset in development is POOCHERA - CAREY'S WELL in Australia and its main exploration properties are GAWLER CRATON, CURNAMONA CRATON, TUNKILLIA - LAKE EVERARD, DOUGLAS CREEK and ACROPOLIS/ROXBY in Australia, NAVALMEDIO in Spain and COPIAPO in Chile.

Minotaur Expl. is listed in Australia and in United States of America. Its market capitalisation is AU$ 43.5 millions as of today (US$ 31.4 millions, € 27.5 millions).

Its stock quote reached its highest recent level on September 03, 2010 at AU$ 0.38, and its lowest recent point on March 20, 2020 at AU$ 0.02.

Minotaur Expl. has 212 390 000 shares outstanding.

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Corporate Presentations of Minotaur Exploration Limited
7/25/2007Builds resources investments
Nominations of Minotaur Exploration Limited
11/27/2007Business Development Manager Appointed
8/22/2007Appointment of New Director to Minotaur
Project news of Minotaur Exploration Limited
7/29/2016Inaugural JORC resource for Chameleon gold deposit, Kalgoorl...
6/22/2016Drilling progress report for Chameleon gold deposit, Kalgoor...
9/10/2015• Gold exploration to commence at Spargos Reward
12/4/2013Minotaur adds former Breakaway Resources Chairman to its Boa...
11/20/2013Minotaur keen for more acquisitions
10/21/2013Minotaur moves to compulsory acquisition of Breakaway
7/29/2013Minotaur completes acquisition of WA gold-nickel tenements
5/20/2013ADDITIONAL MINOTAUR COMMENT ON WA ACQUISITION ANNOUNCED TODA...
7/27/2012Cashed up Minotaur eyeing WA gold acquisition opportunities
7/1/2009(Douglas Creek)Drilling Programs Update
5/25/2007(Tunkillia - Lake Everard)Study to commence mining operations
Corporate news of Minotaur Exploration Limited
7/27/2016Quarterly Report Ended 30 June 2016
7/4/2016Attractive gold assays from Chameleon Deposit, Kalgoorlie
6/30/2016Roger Higgins joins Minotaur Board
6/30/2016Change of Company Secretary
6/29/2016CHILEAN METALS ENTER STRATEGIC ADVISORY AGREEMENT WITH MINOT...
6/20/2016Progress report for Eloise JV
5/2/2016BOARDROOM RADIO INTERVIEW - Minotaur identifies new targets ...
4/29/2016Minotaur identifies new targets near Prominent Hill
3/31/2016Minotaur to distribute tax credits to shareholders
1/27/2016Quarterly Report Period Ended 31 December 2015
9/9/2015MEP: SFR continues earn-in at Altia project, Cloncurry
9/3/2015New Exploration Agreement with Minotaur on Corkwood Copper-G...
7/14/2015VTEM Survey Underway at Merléac to Identify New Deposits
4/21/2015Eloise Copper JV report
3/11/2015Minotaur Stands Out Amongst Junior Miners, Presentation Febr...
1/29/2015Quarterly Report Ending 31 December 2014
10/22/201422 Oct 14 – 22 October - Drilling underway at Artemis Prospe...
10/21/201421 Oct 14 – Successful closure of Share Purchase Plan and Ad...
10/20/201420 Oct 14 – Agreed sale of Gypsum Project new!
10/21/2013Minotaur commences new 4-hole copper-gold campaign near Clon...
8/1/2013Minotaur lodges formal bid for WA's Breakaway with Norilsk b...
8/1/201301 Aug 13 – Bidders Statement to acquire Breakaway Resources...
8/20/2012Canadian IOCG drill push accelerated by Australia's Minotaur
7/11/2012Japan's JOGMEC and Minotaur in new copper-gold drill push no...
9/5/2011Minotaur discovers large copper-gold system in western Queen...
4/29/2011Minotaur Exploration Quarterly Report
4/22/2010Minotaur in $6.6m exploration spend in 2010 across three sta...
10/2/2009Drilling commences Cowra and Boorowa Joint Venture Projects,...
8/27/2008 restarts drilling at Tunkillia, S.A.
6/12/2008Terramin-Zinifex-Minotaur in new SA minerals search
3/18/2008 announces encouraging IOCG results near Olympic Dam
3/18/2008Update on Australian Drilling Projects
2/20/2008NAVALMEDIO ANNOUNCEMENT CORRECTION
10/30/2007Quarterly Activities Report
10/5/2007Mitsubishi buys into Minotaur's NSW copper gold project near...
9/11/2007Trafford in new SA minerals deal
8/30/2007Expands Copper Gold Exploration into Eastern Canada
5/22/2007Sumitomo joins Minotaur in Australian minerals venture
2/21/2007JV with PlatSearch
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AUSTRALIA (MEP.AX)Other OTC (MURXF)
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