Line an 8 x 8-inch baking dish with parchment paper and set aside.
Preheat the oven to 350°F. Place the oats on a baking tray lined with parchment paper and bake for 5 minutes, or just until the oats start to brown. (This step is optional.)
Place the coconut oil, honey and brown sugar in a sauce pan. Bring to a low boil, stirring frequently, and let cook for 2 to 3 minutes. Stir in the vanilla extract. Remove from heat and let cool for a few minutes.
In a large bowl, place the oats, rice cereal, flax seed (if using) and salt and stir to mix.
Scrape the sugar and honey mixture into the bowl with the oats and cereal. Stir very well.
When the mixture is cool enough not to melt the chocolate chips, stir in the mini chocolate chips.
Spoon the mixture into the prepared baking dish and use your hands to firmly press the mixture into the dish, flattening the top evenly. If the mixture is sticky, wet your hands.
Place the baking dish in the refrigerator for one hour, or until firm. Cut into rectangles and store at room temperature, covered with plastic wrap.