Magnet will also produce the next film from the Chilean martial arts star.
Both of the films were written, directed and edited by Ernesto Diaz Espinoza and produced by Derek Rundell.
Kiltro, which has already been a hit in Chile, stars Zaror as a violent gangster turned avenging warrior after the murder of his mother. In Mirageman, which will be released in Chile next year, he plays a masked vigilante.
Mirageman will have its US premiere this week in Austin at the Fantastic Film Festival. Magnet plans to release both titles in the US next year.
The deal was negotiated by Magnet/Magnolia senior vice president Tom Quinn, and head of business affairs Jason Janego, with producer Rundell and producer's rep Houston King.
Magnet's other titles include Hitoshi Matsumoto's Dainipponjin, Hong Kong triptych Triangle from Ringo Lam, Johnnie To and Tsui Hark, and Olivier Assayas' Boarding Gate.