Chilean Metals Inc.

Chilean Metals Inc., formerly International PBX Ventures Ltd., is a resource exploration company. The Company, through its subsidiaries, is engaged in exploring for gold, silver, copper and iron on its various properties located in Chile. The Company holds title to over 100 mineral claims totaling approximately 19,720 hectares. These claims consist of over five properties held by the Company: Tierra de Oro, Palo Negro, Hornitos, Tabaco and Zulema. The Company owns an interest in the Tierra de Oro exploration concessions and Zulema mining certain exploration concessions in Region III, Chile. Tierra de Oro is an advanced stage exploration project located in Region III on the eastern flank of Chile's Coastal Iron Oxide Copper Gold belt. It consists of approximately 5,670 hectares. The Zulema property consists of approximately 4,300 hectares. Its subsidiaries include Minera IPBX Limitada, Minera Tierra de Oro Limitada, Minera Palo Negro Limitada and Minera Sierra Pintada Limitada.