Defending champions Internacional were knocked out of the Copa Libertadores with a surprise 2-1 defeat to Penarol in the second leg of their last-16 clash.
With the tie poised at 1-1 following the opening match, Inter took the lead early through Oscar's left-footed strike.
However, Fernando Martinuccio equalised for Penarol a minute after the interval before an Olivera header five minutes later sent the Uruguayan side through.
They will now take on Universidad Catolica in the quarter-finals, with the Chileans seeing off Gremio 1-0 to complete a 3-1 aggregate win.
"We have the ambition to keep progressing and do important things for the club," he told Fox Sports.
"The 16 teams in this round all had what it takes to win the trophy. Now we are down to eight and the level is high for the quarter-final stage."
Once Caldas claimed an unexpected 3-2 aggregate win over Cruzeiro thanks to a 2-0 second-leg success.
Both teams ended the game with 10 players as Cruzeiro midfielder Roger and Once Caldas forward
Santos will be the next opponents for Once Caldas.
Asuncion overturned a 3-1 first-leg deficit to knock Brazilian champions Fluminense out of the competition.
Fluminense also had defender Mariano sent off in stoppage time.