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Power Nickel Inc. (the “Company” or “Power Nickel”) (TSXV:PNPN, OTCBB: CMETF, Frankfurt IVVI) is pleased to announce that it has commenced drilling on its Nisk Project. As previously noted the Company has used a new 3D geological model to generate the targets for this exploration program. The 3D geological model developed by 3DGeo-Solution Inc. (“3DGS”) identified a prospective set of targets which the Company feels will give the best potential to expand the Nisk historical deposit.

Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV:PNPN)(OTCQB:CMETF)(Frankfurt:IVVI) is pleased to announce that it has received and approved a 3D Litho-Structural Report on the Nisk project in James Bay from 3DGeo-Solution Inc. ("3DGS"), an expert in 3D modeling and Mineral Resource Estimation. The report identified a prospective set of targets that is felt will give the best potential to expand the Nisk historical deposit.

Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV:PNPN, OTCBB: CMETF, Frankfurt IVVI) is pleased to announce that it will commence trading under its new symbol PNPN on the TSXV on July 12, 2021. Chilean Metals has formally been renamed Power Nickel Inc. and will focus its efforts on the exploration and development of the James Bay Nisk project.

Chilean Metals Inc. ("Chilean Metals," "CMX" or the "Company") (TSX.V:CMX)(SSE:CMX)(MILA:CMX) is pleased to announce it has agreed to acquire 100% of the Golden Ivan property from Granby Gold Inc., via a payment of 6,500,000 shares of CMX. Golden Ivan is located approximately 3 kilometers to the east of Stewart, BC in the heart of the Golden Triangle. The Golden Ivan property consists of 13 mineral claims, all in good standing, for a total area of approximately 797 hectares. This agreement revises the parties' earlier option agreement.

Chilean Metals Inc. (“Chilean Metals,” “CMX” or the “Company”) (TSX.V:CMX, OTCBB – CMETF, SSE:CMX, MILA: CMX) has closed a non-brokered private placement of $2,200,000 dollars, with $900,000 being done via issuance of 3,600,000 common shares at $0.25 and $1,200,000 in Flow-through Shares issued at $0.40 per share comprising of 3,000,000 shares. The proceeds from the flow-through shares will be used to incur Canadian exploration expenditures that qualify as flow-through mining expenditures (as such terms are defined in the Income Tax Act (Canada)).

Chilean Metals Inc. ("Chilean Metals," "CMX" or the "Company") (TSX.V:CMX) (OTCBB:CMETF) (SSE:CMX) (MILA:CMX) has arranged a non-brokered private placement of $2,000,000 dollars, with $1,000,000 being done via issuance of 4,000,000 common shares at $0.25 and $1,000,000 in Flow-through Shares issued at $0.40 per share comprising of 2,500,000 shares. The proceeds from the flow-through shares will be used to incur Canadian exploration expenditures that qualify as flow-through mining expenditures (as such terms are defined in the Income Tax Act (Canada)).

Chilean Metals Inc. (the "Company" or "Chilean Metals") (TSXV:CMX, OTCBB: CMETF, Frankfurt IVVI) is pleased to announce that the board of directors has approved the Company's plans to change its name to Power Nickel Inc. and to spin-off two independent public companies to carry forward with its existing Chilean and British Colombia mining assets.

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.

Chilean Metals Inc. ("Chilean Metals," "CMX" or the "Company") (TSXV:CMX)(SSE:CMX)(MILA:CMX) s pleased to announce it has received TSXV conditional approval on its announced agreement to acquire 80% of the NISK property via a series of option payments and work commitments as further detailed below.