#Australia #Hot Chili #La Verde #Perth #copper-gold

Recent Developments at La Verde Project

Hot Chili Limited continues to make significant strides at its La Verde project, located 30 kilometers south of the Costa Fuego operation in coastal Chile. The latest quarterly report, covering the period ending June 30, 2025, highlights substantial advances following the completion of the phase-one Reverse Circulation (RC) drilling program.

Drill Results: Expanding the Discovery

The latest drilling results have doubled the discovery footprint of the La Verde copper-gold (Cu-Au) porphyry, demonstrating mineralization that extends over 1 kilometer in length and up to 750 meters in width near surface. Notably, more than half of the drill holes have concluded in mineralization, indicating a strong potential for further discovery. Significant drill intercepts from the recent program include:

• - 389 meters grading 0.4% Cu and 0.1 g/t Au from a depth of 4 meters to the end of the hole, with key intervals showing 46m at 0.6% Cu and 0.2 g/t Au from 238m depth and 34m at 0.6% Cu from 322m.
• - 286 meters grading 0.3% Cu and 0.1 g/t Au from 4 meters depth, including 154m at 0.4% Cu from 44m.

These findings affirm the discovery potential of La Verde, as additional drilling is scheduled to deepen investigations and further assess higher-grade centers.

Expanding Potential: District-Scale Porphyry Cluster

Recent geophysical and surface geochemical programs have identified three additional large targets adjacent to La Verde. These findings suggest a broader district-scale porphyry cluster may be forming. As part of the next steps, Hot Chili is in the process of obtaining regulatory approvals to commence phase-two expansion drilling and to explore these newly identified targets.

Strategic Focus on Strategic Projects

In a significant boost to its portfolio, the Costa Fuego Copper-Gold Project and Huasco Water Project have been registered for priority status by the Chilean Ministry of Economy. This strategic designation allows for expedited administrative processes, aiming to streamline approvals to enhance project delivery.

Furthermore, Hot Chili has strengthened its leadership through key appointments, including former Gold Fields executive Mr. Stuart Mathews as Non-Executive Chair and well-regarded Chilean mining executive Mr. Alberto Cerda as Project Director. Their extensive experience in large-scale mining operations is expected to guide Hot Chili effectively through the forthcoming investment phases.

Financial Position and Future Opportunities

As of June 30, 2025, Hot Chili reported a cash position of A$5.2 million, alongside anticipated inbound funds of A$2 million through government VAT reimbursements. The company is also actively pursuing strategic partnerships aimed at securing funding for both the Costa Fuego and Huasco Water projects. BMO Capital Markets has been appointed as the financial advisor for this endeavor.

In closing, the La Verde project and its surrounding district demonstrate compelling potential through ongoing exploration and strategic initiatives, showcasing Hot Chili Limited's commitment to advancing its copper-gold operations in Chile. Stakeholders can expect continued updates as the company progresses through its exploration and development phases.