Hot Chili Quarterly Report - Period Ending 31 December 2025 PERTH, Australia ,
Hot Chili Quarterly Report - Period Ending 31 December
2025
PERTH, Australia
,
Jan. 30, 2026
/CNW/ -
Highlights
La Verde Diamond Drilling Rapidly Expands Gold-Rich Major Copper Discovery
Drillhole results released during the quarter confirmed significant expansion of La Verde's high-grade core:
DKD032 recorded
529 m
grading 0.41% Cu and 0.21 g/t Au from
41m
to end of hole,
including
148 m
grading 0.60% Cu
and
0.30 g/t Au from
70 m
depth
DKD034 recorded
426 m
grading 0.37% Cu and 0.08 g/t Au from
194 m
depth
, including
107 m
grading
0.46 % Cu, 0.10 g/t Au from
426 m
depth
and including
52 m
grading 0.50% Cu,
0.08 g/t Au
from
566 m
depth
DKD033, a diamond twin, recorded
495 m
grading 0.38% Cu and 0.10 g/t Au from
3 m
depth
, including
123
m
grading 0.50% Cu and 0.13 g/t Au
from
289 m
depth
DKP005D, diamond tail
recorded
47 m
grading 0.57% Cu and 0.12 g/t Au from
247.5 m
depth
(original end
of hole), including
28 m
grading 0.49% Cu and 0.15 g/t Au
from
316 m
depth
Diamond drill results expand an emerging, bulk-tonnage, high-grade core at the La Verde copper-gold (Cu-Au)
porphyry discovery and confirm the convergence of the higher-grade mineralisation at depth.
A total of
3,347 m
was drilled across nine diamond drillholes during the quarter, with assays pending for six diamond
drillholes, including results for drillholes targeting the up-dip potential of the high-grade core.
Higher-grade Copper-Gold Starter Pit for Costa Fuego Materialising
Multiple wide, near-surface Cu-Au intercepts from La Verde highlight the opportunity to incorporate a high-grade
starter pit to Costa Fuego, located only 30km south of the planned central processing hub at Productora.
Impact modelling by Hot Chili indicates the potential to add significant additional open pit material to the front end of
Costa Fuego's 20-year mine schedule, delivering mine life growth and materially enhancing the financial metrics of
Hot Chili's
March 2025
PFS.
Regulatory approval
1
was received in October, and drill pad clearing commenced in December, to expand drill
coverage across La Verde and initiate first-pass drilling, to test adjacent look-alike targets with the potential for a
district-scale copper porphyry cluster.
Strategic Partnering Process Advancing
Additional parties have entered the Company's asset-level, strategic partnering processes in relation to the Costa
Fuego and Huasco Water Projects (together, the Projects). with several advancing through due diligence, including
site visits. The Company has received further non-binding, indicative, incomplete and conditional proposals in relation
to potential transactions for the Projects. The Company remains actively engaged in assessing these proposals.
EIA and Development Studies Advancing
A$4.6M
Cash and
A$2.8M
in Returns Expected (VAT and JV recoup)
$1.8M
in VAT and JV recoup received in
January 2026
.
______________________________
1
Regulatory approval refers to a Sectoral Permit, which is the appropriate regulatory authorisation for a project of this scale. A full DIA (Environmental Impact Declaration) would be processed in a next drilling stage
following current regulations. Hot Chili remains fully committed to transparency and environmental responsibility in every stage of the project.
Diamond Drilling across La Verde expands the gold-rich major copper discovery in coastal Chile (CNW Group/Hot Chili
Limited)
Cautionary Statement – JORC Code (2012)
The Costa Fuego Copper-Gold Project is currently at the Pre-Feasibility Study ("PFS") stage. The production targets and forecast financial information contained in this report are based on technical and economic
assessments that are preliminary in nature. While the PFS incorporates Indicated and Inferred Mineral Resources, there is a lower level of geological confidence associated with Inferred Mineral Resources, and no
certainty that further exploration or development will result in the conversion of Inferred Mineral Resources to Indicated or Measured categories.
The PFS is not a definitive study and is based on a number of assumptions, including commodity prices, capital and operating costs, metallurgical recoveries, permitting, and other factors, which are subject to change.
The outcomes of the PFS should not be used as the basis for a final investment decision. Further work, including additional drilling, metallurgical testing, and detailed engineering, is required before the Company can
make a decision to proceed to development.
Of the Mineral Resources scheduled for extraction in the PFS production plan, more than 99% are classified as Indicated, with the remaining <1% as Inferred. The Company has concluded that it has reasonable grounds
for disclosing a production target which includes a small amount of Inferred Mineral Resources, as permitted under the JORC Code. There is a low level of geological confidence associated with Inferred Mineral
Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised. The viability of the development scenario
envisaged in the PFS does not depend on the inclusion of Inferred Mineral Resources. However, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Measured or Indicated
Mineral Resource with continued drilling.
The Mineral Resources underpinning the production target in the PFS have been prepared by a Competent Person in accordance with the requirements of the JORC 2012. For full details on the Mineral Resource
estimate, please refer to the ASX announcement of 27 March 2025.
To achieve the outcomes indicated in the PFS, including reaching Definitive Feasibility Study ("DFS"), mine construction and production stages, funding in the order of US$1.27 Billion will be required, including pre-
production and working capital and assumed financing charges. Investors should note that that there is no certainty that Hot Chili will be able to raise that amount of funding when needed. One of the key assumptions is
that the funding for the Project will be available when required and on acceptable terms. It is also possible that such funding may only be available on terms that may be dilutive to, or otherwise affect the value of, Hot
Chili's existing shares. It is also possible that Hot Chili could pursue other value realisation strategies such as debt financing, a sale or partial sale of its interest in the Costa Fuego Copper Project and/or Huasco Water,
sale of further royalties and/or streaming rights, sale of non-committed offtake rights, and sale of non-core assets.
The Company cautions that there is no certainty that the results or estimates contained in the PFS will be realised.
This Report contains forward-looking statements. Hot Chili has concluded that it has a reasonable basis for providing these forward-looking statements and believes it has a reasonable basis to expect it will be able to
fund development of the Costa Fuego Copper Project. However, a number of factors could cause actual results or expectations to differ materially from the results expressed or implied in the forward-looking
statements. Given the uncertainties involved, investors should not make any investment decisions based solely of the results of the PFS.
SUMMARY OF OPERATIONAL ACTIVITIES
Rapid Growth of High-Grade Core Continues at La Verde
Diamond drilling (DD) continued during the quarter at La Verde with nine drillholes completed – six from surface and three
diamond tails - before the Christmas break on
21 Dec 2025
. Phase two drilling aimed to significantly grow the initial
porphyry discovery, using DD to verify, extend and expand the mineralisation footprint identified by reverse circulation
(RC) drillholes, many of which ended in mineralisation.
Results from the first four diamond drillholes had a significant impact on expansion of the porphyry footprint. Particularly
at depth where higher-grade centres converge, with the depth extent now reaching
600m
from surface (Figure 1 and 2),
as well as identifying a high gold to copper ratio in the north-eastern high-grade core.
The first diamond drillhole, DKD032, located in the north-eastern higher-grade centre, recorded:
529 m
grading 0.41% Cu and 0.21 g/t Au from
41m
to end of hole
including
148 m
grading 0.60% Cu and 0.30 g/t Au from
70 m
depth
and including
66 m
grading 0.45% Cu and 0.31 g/t Au
from
295 m
depth
Twin drillhole DKD032 significantly extended the discovery drill result from DKP002, which previously recorded
308 m
grading 0.5% Cu and 0.3g/t Au from
46m
depth to end of hole. Mineralisation extended both laterally and vertically, with
end of hole recording
14 m
grading 0.35% Cu and 0.12 g/t Au.
The other drilling result released was from DKP005D, a
200 m
diamond tail extension, recorded an additional:
47 m
grading 0.57% Cu and 0.12 g/t Au from
247.5 m
depth
(original end of hole), and
28 m
grading 0.49% Cu and 0.15 g/t Au
from
316 m
depth
DKP005D is located in the central higher-grade mineralisation centre, the tail extension of RC drillhole DKP005, and
resulted in extension of the eastern flank of the discovery by approximately
60 m
. Including the new diamond tail
extension, DKP005 now records
317 m
grading 0.38% Cu and 0.1 g/t Au from
32 m
to
349 m
depth including the non-
mineralised dyke (previously DKP005 recorded
200 m
grading 0.4% Cu and 0.1 g/t Au from
48 m
to end-of-hole).
Diamond drillhole DKD033 (twin drillhole to DKP030) was the third result released (Figure 3) and extended the original
RC drillhole, recording:
495 m
grading 0.38% Cu and 0.10 g/t Au from
3 m
depth
including
37 m
grading 0.51% Cu and 0.13g/t Au
from
202 m
and including
123 m
grading 0.50% Cu and 0.13g/t Au
from
289 m
This represents a
102 m
downhole extension to the original intercept, which recorded
393 m
grading 0.4% Cu and 0.1 g/t
Au from
4 m
depth. Mineralisation was also recorded to end-of-hole, with the last
22 m
recording 0.18% Cu and 0.04 g/t
Au from
521 m
depth.
The fourth result, diamond drillhole DKD034, also located in the central high-grade centre (Figure 3), returned an
intersection of:
426 m
grading 0.37% Cu and 0.08g/t Au
from
194 m
depth
including
107 m
grading 0.46% Cu and 0.10g/t Au
from
426 m
and including
52 m
grading 0.50% Cu and 0.08g/t Au
from
566 m
Drillhole DKD034 also ended in mineralisation, returning
35 m
grading 0.27% Cu and 0.06 g/t Au from
679 m
.
The Company is reviewing these results and will consider potential re-entry of DKD033 and DKD034 in the future.
In addition, relogging and interpretation of multiple intrusive phases, derived from the diamond drilling campaign, have
optimized drill target design and supported the development of an early 4D litho–structural model.
Higher-grade Copper-Gold Starter Pit for Costa Fuego Materialising
Diamond drillholes completed from surface, aiming to test the potential for the higher-grade gold-rich copper
mineralisation intersected by DKD032 to extend up to near surface, were also completed during the quarter (DKD035
and DKD036). Results are expected soon and the location of both drillholes in the northeastern high-grade centre, could
have a material impact on the La Verde deposit.
Diamond drilling has been instrumental in development of an early "4D litho-structural model" with the interpretation of
multiple intrusive phases optimising drill target design. Hot Chili geologists are applying the same targeting strategies that
proved successful at the Company's nearby Cortadera Cu-Au porphyry Resource and anticipate these methods will
continue to drive growth at La Verde.
Impact modelling by Hot Chili indicates the potential to add significant additional open pit material to the front end of
Costa Fuego's 20-year mine schedule, delivering mine life growth and materially enhancing the financial metrics of Hot
Chili's
March 2025
PFS.
Costa Fuego is significantly leveraged to both copper and gold price, both of which are materially higher than
assumptions used in the Company's PFS. Long-term consensus prices for both commodities sit at
US$4.51
/lb Cu and
US$3,137
/oz Au1, 5% and 38% higher, respectively. The addition of La Verde adds further leverage and scale.
Clearing of drill pad locations commenced at La Verde in December, in preparation for the expanded exploration drill
program, which received regulatory approval in October.
Costa Fuego Project Optimisation Continues
Value Engineering development studies continued during the quarter, advancing several workstreams with global
consulting company Ausenco, with focus on optimisation of the Company's PFS, prior to inclusion in a planned Feasibility
Study (FS).
The Company's Environmental Impact Assessment (EIA) also continued to advance during the quarter, on track for
submission at the end of 2026.
Figure 1. Plan view map of the La Verde porphyry system showing approved extensional collar locations (red points),
planned (white traces) and completed DD drilling (black) compared with +0.2% copper (yellow), +0.3% copper (red),
+0.4% copper (magenta) mineralisation interpolants. Conceptual open pit shells
displayed for $US3.50/lb Cu (blue) and
$US6.00/lb Cu (green) displayed as dashed lines. See announcement dated 20 January 2026 for JORC Table 1
additional technical information. (CNW Group/Hot Chili Limited)
____________________________________
1
See Page 23 of this announcement for detail on the US$3.50 Cu and US$6.00 Cu conceptual open pit shells (Exploration Targets). Any potential tonnage and grade of the Exploration Target shown is conceptual in
nature. There has been insufficient exploration to estimate a Mineral Resource within the target area, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Figure 2. NNW facing longitudinal section of the La Verde porphyry system showing +0.2% copper (yellow), +0.3%
copper (red), +0.4% copper (magenta) mineralisation interpolants following Phase One drilling (top) and with the addition
of the first four Phase two drillholes [DKD032, DKD033, DKD034, DKP005D] (bottom). (CNW Group/Hot Chili Limited)
Figure 3. North facing cross section (± 40m clipping) of the La Verde porphyry system showing +0.2% copper (yellow),
+0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants before (top) and after (bottom) returned
diamond assay results from DKD033 and DKD034. Returned Cu grades shown on hole traces. Conceptual open pit
shells1 displayed for $US3.50/lb Cu (blue) and $US6.00/lb Cu (green) displayed as dashed lines and are based on Phase
one drilling only. (CNW Group/Hot Chili Limited)
1
See Page 22 of this announcement for detail on the US$3.50 Cu and US$6.00 Cu conceptual open pit shells (Exploration Targets). Any potential tonnage and grade of the Exploration Target shown is conceptual in
nature. There has been insufficient exploration to estimate a Mineral Resource within the target area, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Table 1. Drill Holes Completed for La Verde in Quarter 4, 2025
Prospect
Hole ID
North
East
RL
Depth
Azimuth
Dip
Results
La Verde
DKP032
6785975
324839
1192
570
270
-60
Significant result returned Q4 2025
DKP005D
6785789
324564
1124
441
91
-60
Significant result returned Q4 2025
DKD033
6785775
324785
1132
543
274
-60
Significant result returned Q1 2026
DKD034
6785837
324433
1096
714
99
-59
Significant result returned Q1 2026
DKP006D
6785721
324727
1130
384
110
-60
Results Pending
DKP021D
6785619
324325
1178
834
75
-60
Results Pending
DKD035
6786027
324596
1153
279
80
-60
Results Pending
DKD036
6786029
324597
1153
372
130
-54
Results Pending
DKD037
6785842
324527
1122
321
69
-63
Results Pending
DKD038
6786088
324685
1185
306
149
-65
Results Pending
Table 2. Significant Drilling Intersections from La Verde in Quarter 4, 2025
Hole ID
Coordinates
Azim.
Dip
Hole Depth
Intersection
Interval
Copper
Gold
Silver
Molybdenum
North
East
RL
From
To
(m)
(% Cu)
(g/t Au)
(ppm Ag)
(ppm Mo)
DKP0032
6,785,967
324,835
1,202
270
-60
569.9
41
569.9
528.9
0.41
0.21
0.85
13
And incl
70
218
148
0.60
0.30
0.84
13
And incl
295
361
66
0.45
0.31
0.96
10
And incl (to EOH)
556
569.9
13.9
0.35
0.12
0.79
13
DKP005
6,785,789
324,564
1,124
90
-60
441.2
32
349
317
0.38
0.10
0.9
23
(incl. new DD tail results from DKP005D)
Incl
68
102
34
0.50
0.16
1.2
10
And incl
236
294
58
0.55
0.12
1.1
39
And incl
316
344
28
0.49
0.15
1.0
19
And
412
421
9
0.32
0.06
0.4
92
DKD033
6,785,775
324,785
1132
274
-60
543
3
498
495
0.38
0.10
0.69
27
Or Incl
3
543
540
0.36
0.09
0.66
30
Incl
202
239
37
0.51
0.13
1.19
43
And incl
289
412
123
0.50
0.13
0.67
39
521
543
22
0.18
0.04
0.31
75
DKD034
6,785,837
324,433
1096
99
-59
713.9
16
39
23
0.30
0.06
1.11
20
194
620
426
0.37
0.08
0.71
32
Incl
426
533
107
0.46
0.10
0.97
23
And Incl
566
618
52
0.50
0.08
0.99
50
679
713.9
34.9
0.27
0.06
0.68
183
SUMMARY OF CORPORATE ACTIVITIES
Strategic Partnering Process Advancing
Following completion of the Pre-feasibility Studies (PFS) for Costa Fuego and Huasco Water, Hot Chili initiated an asset-
level strategic Partnering Process to introduce one or more qualified partners with the financial, technical and operational
capability to assist in funding and delivering each project.
The Partnering Process continues to progress. During the quarter, additional parties have entered the Partnering
Process, with several advancing through due diligence, including site visits. The Company has received further non-
binding, indicative, incomplete and conditional proposals in relation to potential transactions for the Projects. The
Company remains actively engaged in assessing these proposals.
The Partnering Process may result in a range of transactions for the projects. Investors are cautioned that there is no
certainty the Partnering Process will result in a transaction or binding agreement.
BMO Capital Markets has been appointed as financial adviser in connection with the Partnering Process.
The Company will continue to update the market in accordance with its continuous disclosure obligations.
Cash Position
As of
31 December 2025
, the Company had cash of
A$4.6 million
and no debt. The Company has approximately
A$2.8
million
in funds from VAT repayments and joint venture recoup from its partner CMP, with
$1.8m
of these funds being
received in
January 2026
. The remaining
$1m
funds are expected to be received over the coming months.
The operating expenditure for quarter ended
31 December 2025
included payments for staff costs of
A$0.6 million
and
administration and corporate costs of
A$1.3 million
.
The investing expenditure for quarter ended
31 December 2025
included payments for tenements of
A$1.1 million
relating
to option payment for La Verde and payments for exploration and evaluation of
A$6.1 million
relating to exploration
activities across the La Verde copper-gold porphyry discovery, value engineering works and EIA submission activities.
Capital Structure
The following summarises the Company's securities on issue:
177,561,814 ordinary fully paid shares
1,914,000 options at AUD
$1.50
expiring
24 July 2026
3,685,079 service and performance rights
Annual General Meeting
On Thursday,
27 November 2025
the Company's AGM was held with all resolutions passed.
Additional ASX Disclosure Information
ASX Listing Rule 5.3.2:
There was no substantive mining production and development activities during the quarter.
ASX Listing Rule 5.3.3 -
Schedule of Mineral Tenements as of
31 December 2025
.
The schedule of Mineral Tenements and changes in interests is appended at the end of this activities report.
ASX Listing Rule 5.3.4:
Reporting under a use of funds statement in a Prospectus does not apply to the Company
currently.
ASX Listing Rule 5.3.5:
Payments to related parties of the Company and their associates during the quarter per Section
6.1 of the Appendix
5B
totalled
$188,000
. This is comprised of directors' salaries and superannuation of
$180,000
.
Health, Safety, Environment and Quality
Field operations during the quarter included geological reconnaissance activities, diamond drilling, field mapping, and
sampling exercises across the Company's Costa Fuego project landholdings, focused on La Verde. Activities on new
tenements are run at the Productora or Cortadera operations centers and their safety statistics are included under the
figures for all projects.
There were no Lost Time Injuries (LTI) during the quarter.
Hot Chili's sustainability framework ensures an emphasis on business processes that target long-term economic,
environmental and social value. The Company is dedicated to continual monitoring and improvement of health, safety and
the environmental systems. There is no greater importance than ensuring the safety of our people and their families.
Table 3. HSEQ Quarter 4 2025 Performance and Statistics
Deposit
Productora
Cortadera
All Projects
Timeframe
Q4 2025
Cum.² 2019
Q4 2025
Cum.² 2019
Q4 2025
Cum.² 2019
LTI events
0
0
0
6
0
8
NLTI events
0
4
0
6
0
11
Days lost
0
0
0
152
0
263
LTIFR index
0
0
0
20
0
17
ISR index
0
0
0
495
0
543
IFR Index
0
37
0
39
0
39
Thousands of man-hours
4.9
109
1.8
307
25.1
484
Incidents on materials and assets
0
1
0
0
0
1
Environmental incidents
0
0
0
0
0
0
Headcount¹
13
12
9
29
64
48
Notes: HSEQ is the acronym for Health, Safety, Environment and Quality. LTIFR per million-manhours. Safety performance is reported on a monthly basis to the National Mine Safety Authority on a standard E-100 form;
(1) Average monthly headcount (2) Cumulative statistics since April 2019.
Tenement Changes During the Quarter
During the Quarter, Sociedad Minera La Frontera SpA ("La Frontera") has claimed 3 mining exploration concessions
("Pajonales" "Chilis 19" and "Paulina") which are in process to be constituted. In addition, it acquired two mining
concessions in judicial auction, which are indicated below: "Marina 1/10" and "Catita V 1/9". In addition, the four Minori
concessions were substituted due to irregularities in their registration. Sociedad Minera El Aguila SpA ("El Aguila") has
claimed three mining exploration concessions ("Zapallo 1" "Zapallo 2" and "Zapallo 3") which are in process to be
constituted.
The Company's existing tenements are detailed in the table below.
Table 4.
Current Tenement Holdings in Chile as of 31 December 2025
Cortadera Project Tenements
Cortadera Project
N°
License ID
HCH % Held
HCH % Earning
Area (ha)
Agreement Details
1
ALCENIA 1/10
100% SMEA SpA
50
2
AMALIA 942 A 1/6
100% Frontera SpA
53
3
ATACAMITA 1/82
100% Frontera SpA
82
4
CORROTEO 1 1/260
100% Frontera SpA
260
5
CORROTEO 5 1/261
100% Frontera SpA
261
6
CORTADERA 1 1/200
100% Frontera SpA
200
7
CORTADERA 1/40
100% Frontera SpA
374
8
CORTADERA 2 1/200
100% Frontera SpA
200
9
CORTADERA 41
100% Frontera SpA
1
10
CORTADERA 42
100% Frontera SpA
1
11
LAS CANAS 1/15
100% Frontera SpA
146
12
LAS CANAS 16
100% Frontera SpA
1
13
LAS CANAS ESTE 2003 1/30
100% Frontera SpA
300
14
MAGDALENITA 1/20
100% Frontera SpA
100
15
PAULINA 10 B 1/16
100% Frontera SpA
136
16
PAULINA 11 B 1/30
100% Frontera SpA
249
17
PAULINA 12 B 1/30
100% Frontera SpA
294
18
PAULINA 13 B 1/30
100% Frontera SpA
264
19
PAULINA 14 B 1/30
100% Frontera SpA
265
20
PAULINA 15 B 1/30
100% Frontera SpA
200
21
PAULINA 22 A 1/30
100% Frontera SpA
300
22
PAULINA 24 1/24
100% Frontera SpA
183
23
PAULINA 25 A 1/19
100% Frontera SpA
156
24
PAULINA 26 A 1/30
100% Frontera SpA
294
25
PAULINA 27A 1/30
100% Frontera SpA
300
26
PURISIMA 1/8 (1/2 Y 5/6)
100% Frontera SpA
20
NSR 1.5%
27
CF 1
100% Frontera SpA
300
28
CF 2
100% Frontera SpA
300
29
CF 3
100% Frontera SpA
300
30
CF 4
100% Frontera SpA
300
31
CF 5
100% Frontera SpA
200
32
CF 6
100% Frontera SpA
200
33
CF 7
100% Frontera SpA
100
34
CF 8
100% Frontera SpA
200
35
CF 9
100% Frontera SpA
100
36
CF 10
100% Frontera SpA
200
37
CF 11
100% Frontera SpA
200
38
CHAPULIN COLORADO 1/3
100% Frontera SpA
3
39
CHILIS 1
100% Frontera SpA
200
40
CHILIS 3
100% Frontera SpA
100
41
CHILIS 4
100% Frontera SpA
200
42
CHILIS 5
100% Frontera SpA
200
43
CHILIS 6
100% Frontera SpA
200
44
CHILIS 7
100% Frontera SpA
200
45
CHILIS 8
100% Frontera SpA
200
46
CHILIS 9
100% Frontera SpA
300
47
CHILIS 10 1/38
100% Frontera SpA
190
48
CHILIS 11
100% Frontera SpA
200
49
CHILIS 12 1/60
100% Frontera SpA
300
50
CHILIS 13
100% Frontera SpA
300
51
CHILIS 14
100% Frontera SpA
300
52
CHILIS 15
100% Frontera SpA
300
53
CHILIS 16
100% Frontera SpA
300
54
CHILIS 17
100% Frontera SpA
300
55
CHILIS 18
100% Frontera SpA
300
56
CORTADERA 1
100% Frontera SpA
200
57
CORTADERA 2
100% Frontera SpA
200
58
CORTADERA 3
100% Frontera SpA
200
59
CORTADERA 4
100% Frontera SpA
200
60
CORTADERA 5
100% Frontera SpA
200
61
CORTADERA 6 1/60
100% Frontera SpA
265
62
CORTADERA 7 1/20
100% Frontera SpA
93
63
CRISTINA 1/40
100% SMEA SpA
40
64
DIABLITO 1/5
100% SMEA SpA
25
65
DONA FELIPA 1/10
100% Frontera SpA
50
66
DORO 1
100% Frontera SpA
200
67
DORO 2
100% Frontera SpA
200
68
DORO 3
100% Frontera SpA
300
69
FALLA MAIPO 2 1/10
100% Frontera SpA
99
70
FALLA MAIPO 3 1/8
100% Frontera SpA
72
71
FALLA MAIPO 4 1/26
100% Frontera SpA
26
72
MINORI 1
100% SMEA SpA
300
73
MINORI 2
100% SMEA SpA
300
74
MINORI 3
100% SMEA SpA
300
75
MINORI 4
100% SMEA SpA
300
76
PORFIADA B
100% Frontera SpA
200
77
PORFIADA D
100% Frontera SpA
300
78
PORFIADA G
100% Frontera SpA
200
79
PORFIADA I
100% Frontera SpA
300
80
PORFIADA II
100% Frontera SpA
300
81
PORFIADA III
100% Frontera SpA
300
82
PORFIADA IV
100% Frontera SpA
300
83
PORFIADA V
100% Frontera SpA
200
84
PORFIADA VI
100% Frontera SpA
100
85
PORFIADA X
100% Frontera SpA
200
86
SAN ANTONIO 1
100% Frontera SpA
200
87
SAN ANTONIO 2
100% Frontera SpA
200
88
SAN ANTONIO 3
100% Frontera SpA
300
89
SAN ANTONIO 4
100% Frontera SpA
300
90
SAN ANTONIO 5
100% Frontera SpA
300
91
SOLAR 1
100% Frontera SpA
300
92
SOLAR 2
100% Frontera SpA
300
93
SOLAR 3
100% Frontera SpA
300
94
SOLAR 4
100% Frontera SpA
300
95
SOLAR 5
100% Frontera SpA
300
96
SOLAR 6
100% Frontera SpA
300
97
SOLAR 7
100% Frontera SpA
300
98
SOLAR 8
100% Frontera SpA
300
99
SOLAR 9
100% Frontera SpA
300
100
SOLAR 10
100% Frontera SpA
300
101
SOLEDAD 1
100% Frontera SpA
300
102
SOLEDAD 2
100% Frontera SpA
300
103
SOLEDAD 3
100% Frontera SpA
300
104
SOLEDAD 4
100% Frontera SpA
300
105
MARINA 1/10
100% Frontera SpA
100
106
CATITA V 1/9
100% Frontera SpA
9
107
CHILIS 19
100% Frontera SpA
300
108
PAULINA
100% Frontera SpA
100
TOTAL
23.162
Note. Frontera SpA is a 100% owned subsidiary company of Hot Chili Limited
Productora Project Tenements
Productora Project
N°
License ID
HCH % Held
HCH %
Earning
Area
(ha)
Agreement Details
1
ALGA 7 A 1/32
80% SMEA SpA
89
2
ALGA VI 4
100% SMEA SpA
2
3
ALGA VI 5/24
80% SMEA SpA
66
4
ARENA 1 1/6
80% SMEA SpA
40
5
ARENA 2 1/17
80% SMEA SpA
113
6
AURO HUASCO 1A
1/8
80% SMEA SpA
35
7
CABRITO-CABRITO
1/9
80% SMEA SpA
50
8
CACHIYUYITO 1 1/20
80% SMEA SpA
100
9
CACHIYUYITO 2 1/60
80% SMEA SpA
300
10
CACHIYUYITO 3 1/60
80% SMEA SpA
300
11
CARMEN I, 1/50
80% SMEA SpA
222
12
CARMEN II, 1/60
80% SMEA SpA
274
13
CF 12
100% Frontera
SpA
100
14
CF 13
100% Frontera
SpA
200
15
CF 14
100% Frontera
SpA
300
16
CHICA
80% SMEA SpA
1
17
CHOAPA 1/10
80% SMEA SpA
50
18
CUENCA A 1/51
80% SMEA SpA
255
19
CUENCA B 1/28
80% SMEA SpA
139
20
CUENCA C 1/51
80% SMEA SpA
255
21
CUENCA D
80% SMEA SpA
3
22
CUENCA E
80% SMEA SpA
1
23
ELEONOR RIGBY
1/10
100% Frontera
SpA
100
24
ELQUI 1/14
80% SMEA SpA
61
25
ESPERANZA 1/5
80% SMEA SpA
11
26
FRAN 1 1/60
80% SMEA SpA
220
27
FRAN 12 1/40
80% SMEA SpA
200
28
FRAN 13 1/40
80% SMEA SpA
200
29
FRAN 14 1/40
80% SMEA SpA
200
30
FRAN 15 1/60
80% SMEA SpA
300
31
FRAN 18, 1/60
80% SMEA SpA
273
32
FRAN 2 1/20
80% SMEA SpA
100
33
FRAN 21, 1/46
80% SMEA SpA
226
34
FRAN 3 1/20
80% SMEA SpA
100
35
FRAN 4 1/20
80% SMEA SpA
100
36
FRAN 5 1/20
80% SMEA SpA
100
37
FRAN 6 1/26
80% SMEA SpA
130
38
FRAN 7 1/37
80% SMEA SpA
176
39
FRAN 8 1/30
80% SMEA SpA
120
40
JULI 10, 1/60
80% SMEA SpA
300
41
JULI 11, 1/60
80% SMEA SpA
300
42
JULI 12, 1/42
80% SMEA SpA
210
43
JULI 13, 1/20
80% SMEA SpA
100
44
JULI 14, 1/50
80% SMEA SpA
250
45
JULI 15, 1/55
80% SMEA SpA
275
46
JULI 16 1/60
80% SMEA SpA
300
47
JULI 17 1/20
80% SMEA SpA
100
48
JULI 19
80% SMEA SpA
300
49
JULI 20
80% SMEA SpA
300
50
JULI 21 1/60
80% SMEA SpA
300
51
JULI 22
80% SMEA SpA
300
52
JULI 23 1/60
80% SMEA SpA
300
53
JULI 24 1/60
80% SMEA SpA
300
54
JULI 25
80% SMEA SpA
300
55
JULI 27 B, 1/10
80% SMEA SpA
48
56
JULI 27, 1/30
80% SMEA SpA
146
57
JULI 28, 1/60
80% SMEA SpA
300