File: '\\swfile\EmailIn\20260610 175448 Attachment News Release re_ Red Cloud as market maker (draft June 8) (1).docx'

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CHILEAN METALS INC. ANNOUNCES ENGAGEMENT OF RED CLOUD

TORONTO, ON -June 8, 2026 -- Chilean Metals Inc. ("Chilean" or the "Company") announces that it has engaged Red Cloud Securities Inc. ("Red Cloud") to provide market stabilization and liquidity services to the Company in accordance with the policies of the TSX Venture Exchange ("TSXV"). Red Cloud is a Toronto-based financial services company that provides assistance to mineral exploration and mining companies in accessing capital markets and enhancing their corporate profile. Red Cloud will trade shares of the Company on the TSXV for the purposes of maintaining a reasonable market and improving the liquidity of the Company's common shares.

Under the agreement, the Company will pay Red Cloud $5,000 per month during the term, payable monthly in advance. The term of engagement is ongoing and may be terminated by either party on 30 days' prior written notice. The Company and Red Cloud have an arm's length relationship, but Red Cloud and/or its clients may have an interest, directly or indirectly, in the securities of Chilean. The agreement is principally for the purposes of maintaining market stability and liquidity for the Company's common shares. The agreement is subject to the Company's filing requirements with TSXV. Red Cloud commenced its engagement with the Company on March 1, 2026.

About Chilean Metals Inc.

On February 3, 2025 Chilean Metals completed a plan of arrangement with Power Nickel Inc. (now called Power Metallic Mines Inc.), pursuant to which it acquired a 100% legal and beneficial interest in the Golden Ivan property. The Golden Ivan property is located in Terrace, British Columbia and comprises 13 mineral claims, covering a total area of 797 hectares. Chilean Metals also owns interests in the Zulema, Tierra de Oro, Palo Negro, Hornitos and Tabaco projects located in Chile.

Mr. Conor Lynch, CEO and Director, Chilean Metals Inc.

Phone: 416-399-0984

E-mail: conor@powermetallic.com

Cautionary Note Regarding Forward-Looking Statements

This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. 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," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for TSX Venture Exchange approval of the liquidity arrangement with Red Cloud.