Updated

The Nationwide Tour, Chilean Golf Federation and Podium Sports announced on Thursday that the Nationwide Tour will stage the Chile Classic, starting in 2012.

This will mark the first official PGA Tour sanctioned event in Chile.

The tournament will played March 8-11 at Prince of Wales Country Club in Santiago. Exemptions into the championship will be granted to the four leading money winners on the 2011 Tour de Las Americas and six of the eight sponsor's exemptions will be given to players from Latin America.

"The Nationwide Tour is about opportunity," said Nationwide Tour president Bill Calfee. "With the continued emergence of PGA Tour players from South America, we view this as an incredible partnership for the PGA Tour and Chile."

In 2010, the Nationwide Tour first branched out to South America with the Bogota Open.