Hot Chili Provides Drilling Update at La Verde Cu-Au Porphyry Discovery

Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) provided an update on continuing drilling operations at the La Verde copper-gold porphyry discovery (“La Verde”), located approximately 30km south of the Company’s Costa Fuego Copper-Gold Project (“Costa Fuego” or “the Project”) planned central processing hub at low elevation in the coastal range of the Atacama region, Chile.

Highlights

Drilling Coverage at La Verde Doubled and Continuing to Expand

• First-pass drill coverage now extends across an area measuring 1,000m by 550m: 27 reverse circulation (“RC”) holes for 8,162 m drilled to date

• Assay results pending for fifteen drill holes: Assay turnaround time from laboratories slower than usual due to peak summer drilling season in the high Andes

• Shallow porphyry mineralization remains open in all directions: Drilling planned to continue

• Deeper diamond drill testing being planned: 8 of 12 drill RC holes reported to date recorded significant mineralization to end-of-hole

Development Studies Update

• Pre-Feasibility Studies (PFS) for Costa Fuego and Huasco Water in final stages of completion

View looking SW across the La Verde copper-gold porphyry discovery – showing collar locations of seven step-out drill holes relative to discovery hole DKP002 and historic copper oxide open pit area.

The Company previously reported a 400 m by 550 m discovery footprint at La Verde, extending from shallow depth to approximately 300 m vertically, confirmed by assay results from the first 12 RC drill holes, which all recorded broad zones copper-gold porphyry mineralization (refer to announcement dated February 11, 2025). Eight of these holes recorded significant mineralization to end-of-hole, as displayed in figures 2 to 4.

Hot Chili is continuing to undertake systematic step-out drilling at La Verde with 27 RC drill holes (for 8,162 m) completed to date, including seven drill holes to the south of the initial discovery footprint testing potential for “blind” extensions below gravel cover. Surface gravels obscure the underlying geology and appear to be limited to 10 – 15 m vertical thickness in the southern extent of drilling as displayed on page 1 of this announcement.

Drill coverage has more than doubled since mid-February 2025 with first pass drilling extended across an area measuring 1,000 m by 550 m and tested to the depth of RC drilling capability (up to 350 m vertical) as displayed in figure 3.  Assay results for fifteen holes are pending.

RC drilling is expected to continue, and the Company is planning an initial phase of diamond drilling to test below broad, higher-grade, copper-gold zones intersected by Hot Chili’s drilling and which remain open at depth.