Hot Chili Quarterly Report Period Ending 30 September, 2025 PERTH, Australia ,
Hot Chili Quarterly Report Period Ending 30 September,
2025
PERTH, Australia
,
Oct. 30, 2025
/CNW/ -
Highlights
A$14.1M
Entitlement Offer Fully Subscribed
Completion of Entitlement Offer to all eligible shareholders, raising
A$14.1M
(before costs) in early
September
2025
.
Proceeds from the Entitlement Offer provide funding to deliver the following key milestones in the growth and
development of Hot Chili's Costa Fuego copper-gold project (Costa Fuego), located in the coastal range of
Chile
:
Completion of the Company's asset-level, strategic partnering processes (Partnering Process) (as announced
5 August 2025
), and
Commencement of phase-two diamond drilling at the La Verde copper-gold discovery (La Verde) is expected
to facilitate a maiden mineral resource estimate.
Diamond Drilling Commences at La Verde Cu-Au Porphyry Discovery
Diamond drilling commenced in late
September 2025
with one drill rig in operation on a double-shift basis.
Phase-two drilling follows the success of the Company's first-pass,
10,000m
reverse circulation (RC) drill program,
which confirmed a significant +0.2% Cu discovery footprint measuring
1,000 m
by
750 m
and extending up to
400 m
vertical depth.
Second phase of drilling at La Verde aims to significantly expand the initial shallow porphyry discovery with diamond
drilling targeting depth extensions to higher grade centres.
Impact modelling by Hot Chili has outlined potential for significant additional open pit material to be added to the
front-end of Coast Fuego's 20 year mine schedule, providing both mine life growth and materially enhanced financial
metrics to Hot Chili's
March 2025
Pre-feasibility Study for Costa Fuego.
Three diamond drill holes complete to date with results pending.
Regulatory Approval for Expansion Drilling at La Verde
In early
October 2025
, the Company received approval
1
to expand drill coverage across La Verde. This will provide
access to test lateral and along-strike extensions at La Verde, as well as first-pass drilling of three look alike
targets to test potential for a district-scale copper porphyry cluster.
____________________________________
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.
Strategic Partnering Process Advancing
Ongoing asset-level Partnering Process, being led by BMO Capital Markets, to introduce one or more qualified
partners with the financial, technical and operational capability to assist in funding and delivering of the Company's
Costa Fuego and Huasco Water projects (as announced
5 August 2025
).
Significant additional interest received in Hot Chili's asset-level Partnering Process during the quarter.
A$13.8M
Cash and no debt
This quarter saw the commencement of the Phase 2 drilling at La Verde, located 30km south of Costa Fuego 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
Diamond Drilling Commences at La Verde Cu-Au Porphyry Discovery
Diamond drilling commenced on
22 September 2025
with one drill rig in operation on a double-shift basis. This second
phase of drilling at La Verde aims to significantly expand the initial shallow porphyry discovery (Figure 1).
Phase-two drilling follows the success of the Company's first-pass
10,000 m
RC drill program, which confirmed a
significant +0.2% Cu discovery footprint measuring
1,000 m
by
750 m
and extending up to
400 m
vertical depth.
Importantly, over half of Hot Chili's first pass drill holes ended in significant mineralisation at the capacity of RC drilling,
leaving the porphyry discovery open at depth and laterally (Figure 2).
Phase-two diamond drilling will target depth extensions to three high-grade centres confirmed in Phase one (Figure 3).
Impact modelling by Hot Chili has outlined the potential for significant additional open pit material to be added to the
front-end of Coast Fuego's 20 year mine schedule, providing both mine life growth and materially enhanced financial
metrics to Hot Chili's
March 2025
Pre-feasibility Study for Costa Fuego.
Three diamond drill holes are already complete, with all three drill holes visually recording wide intersections of
porphyry-style copper mineralisation. Assay results are pending and results will be announced to ASX following receipt
of assays.
Note: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses
where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide
no information regarding impurities or deleterious physical properties relevant to valuations.
Regulatory Green Light Paves Way for La Verde Expansion Drilling
In early October, an application to expand drill coverage across La Verde was approved. In addition, baseline studies
for a second Environmental Impact Assessment (EIA) are ongoing to ensure timely integration of La Verde into Costa
Fuego's potential future mine plan.
This recent regulatory approval allows Hot Chili to continue expanding La Verde, providing access to test:
1
.
Further lateral and along-strike extensions to the La Verde footprint, and
2
.
Potential for La Verde to be part of a district-scale copper porphyry cluster, with three nearby look-alike targets set
for first-pass drilling.
Drill platform clearing is planned to start ahead of the arrival of a second RC drill rig to accelerate phase two drilling at
La Verde.
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 from Phase one drilling. Conceptual open pit shells
displayed for
$US3.50/lb Cu (blue) and $US6.00/lb Cu (green) displayed as dashed lines. See announcement dated 25 September
2025 for JORC Table 1 additional technical information. (CNW Group/Hot Chili Limited)
Figure 2. NNW facing longitudinal section (A - A’) of the La Verde porphyry system showing planned diamond drill hole
traces, and planned RC collars compared to +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (Magenta)
mineralisation interpolants from returned assay results. Weathering profile displayed as top of fresh material (black line).
Returned Cu grades graphed downhole along hole traces (grey). Conceptual open pit shells
displayed for $US3.50/lb Cu
(blue) and $US6.00/lb Cu (green) displayed as dashed lines. (CNW Group/Hot Chili Limited)
Figure 3. (Top) North facing cross section B - B’ (± 75m clipping), (Bottom) and North facing cross section C-C’ (± 75m
clipping) through the La Verde porphyry system showing planned diamond and RC drill holes compared to +0.2%
copper (yellow), +0.3% copper (red), +0.4% copper (Magenta) mineralisation interpolants from returned assay results.
Conceptual open pit shells
displayed for $US3.50/lb Cu (blue) and $US6.00/lb Cu (green) displayed as dashed lines.
(CNW Group/Hot Chili Limited)
Figure 4. Plan view showing the La Verde +0.2% Cu mineralisation interpolant in relation to regional magnetic
destruction footprint (red dashed), local magnetic low features (white dashed), weakly magnetic anomalies (white line)
and Fathom 3D geochemical probability models (purple isosurfaces). Left – shown overlain on reduced-to-the-pole
(RTP) ground magnetics. Right – shown in relation to mapped gravel cover, interpreted regional structures and soil
sample coverage. See announcement dated 29 May 2025 for JORC Table 1 additional technical information. (CNW
Group/Hot Chili Limited)
Table 1 - Drill Holes Completed for Costa Fuego in Quarter 3 2025
Prospect
Hole ID
North
East
RL
Depth
Azimuth
Dip
Results
La Verde
DKP032
6785967
324835
1202
570
270
-60
Pending
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, with no material change to the status previously reported. The Company
remains engaged in assessing a range of non-binding, indicative, incomplete and conditional proposals in relation to
potential transactions for the projects. Investors are cautioned that there is no certainty the Partnering Process will
result in a transaction or binding agreement.
The Company has received significant additional interest in its asset-level Partnering Process during the quarter.
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.
Hot Chili Raises
A$14.1M
Under Fully Subscribed Entitlements Offer
In
August 2025
the Company announced it was undertaking a non-renounceable, pro rata Rights Issue (Entitlement
Offer), offering eligible shareholders 2 new fully paid ordinary shares for every 13 held as of
8 August 2025
, at
A$0.60
per share.
The Entitlement Offer received strong demand from Australian, Canadian and international shareholders, closing on
2
September 2025
, raising
A$14.1M
before costs.
Proceeds from the fully subscribed Entitlement Offer, in addition to existing treasury, will provide funding to be used for
the completion of the Company's asset-level strategic Partnering Process, diamond drilling at La Verde and for general
working capital.
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
30 September 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
$180,000
. 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, DD drilling, field mapping, and sampling
exercises across the Company's Costa Fuego project landholdings, focussed on La Verde. Activities on new tenements
are run from the Productora or Cortadera operations centres 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 2. HSEQ Quarter 3 2025 Performance and Statistics
Deposit
Productora
Cortadera
All Projects
Timeframe
Q3
2025
Cum.²
2019
Q3
2025
Cum.²
2019
Q3
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
498
0
573
IFR Index
0
38
0
39
0
41
Thousands of man-hours
4.7
104
4.5
305
12.9
459
Incidents on materials and assets
0
1
0
0
0
1
Environmental incidents
0
0
0
0
0
0
Headcount¹
18
12
11
29
40
49
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 (Frontera SpA) has claimed 2 mining exploration concessions
(CF Sur 36 and CF Sur 37) and 2 mining exploitation concessions (Domeyko I 1/12 and Domeyko II 1/40), which are in
the process of being constituted.
The Company's existing tenements are detailed in the table below.
Table 3. Current Tenement Holdings in Chile as of 30 September 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
TOTAL
22.653
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
58
JULI 9, 1/60
80% SMEA SpA
300
59
JULIETA 10, 1/60
80% SMEA SpA
300
60
JULIETA 11
80% SMEA SpA
300
61
JULIETA 12
80% SMEA SpA
300
62
JULIETA 13 1/60
80% SMEA SpA
298
63
JULIETA 14 1/60
80% SMEA SpA
269
64
JULIETA 15 1/40
80% SMEA SpA
200
65
JULIETA 16
80% SMEA SpA
200
66
JULIETA 17
80% SMEA SpA
200
67
JULIETA 18 1/40
80% SMEA SpA
200
68
JULIETA 5
80% SMEA SpA
200
69
JULIETA 6
80% SMEA SpA
200
70
JULIETA 7
80% SMEA SpA
100
71
JULIETA 8
80% SMEA SpA
100
72
JULIETA 9
80% SMEA SpA
100
73
JULITA ¼
80% SMEA SpA
4
74
LEONA 2A 1/4
80% SMEA SpA
10
75
LIMARI 1/15
80% SMEA SpA
66
76
LOA 1/6
80% SMEA SpA
30
77
MAIPO 1/10
80% SMEA SpA
50
78
MONTOSA 1/4
80% SMEA SpA
35
NSR 3%
79
ORO INDIO 1A 1/20
80% SMEA SpA
82
80
PEGGY SUE 1/10
100% Frontera SpA
100
81
PRODUCTORA 1/16
80% SMEA SpA
75
82
SUERTE 1/7
100% SMEA SpA
21
83
SUERTE II 1/15
100% SMEA SpA
15
84
TOLTEN 1/14
80% SMEA SpA
70
85
URANIO 1/70
0 %
350
25-year Lease Agreement US$250,000 per year
(average for the 25 year term);
plus 2% NSR all but gold; 4% NSR gold;
5% NSR non-metallic
86
ZAPA 1 1/10
80% SMEA SpA
100
87
ZAPA 1/6
80% SMEA SpA
6
GSR 1%
88
ZAPA 3 1/23
80% SMEA SpA
92
89
ZAPA 5A 1/16
80% SMEA SpA
80
90
ZAPA 7 1/24
80% SMEA SpA
120
91
SIERRA SOLIS 1
100% SMEA SpA
200
92
SIERRA SOLIS 2
100% SMEA SpA
300
93
SIERRA SOLIS 3
100% SMEA SpA
300
94
SIERRA SOLIS 4
100% SMEA SpA
200
95
SIERRA SOLIS 5
100% SMEA SpA
300
96
SIERRA SOLIS 6
100% SMEA SpA
300
97
SIERRA SOLIS 7
100% SMEA SpA
300
98
SIERRA SOLIS 8
100% SMEA SpA
300
TOTAL
16.714
Note. SMEA SpA is subsidiary company - 80% owned by Hot Chili Limited, 20% owned by CMP (Compañía Minera del Pacífico)
Note. Frontera SpA is a 100% owned subsidiary company of Hot Chili Limited.
Domeyko Project Tenements
Domeyko Project
N°
License ID
HCH % Held
HCH % Earning
Area (ha)
Agreement Details
1
ANTONIO 1 1/56
100% Frontera SpA
280
100% HCH Domeyko Purchase Option Agreement
US$170,000 (already satisfied)
US$150,000 payable by April 19th 2026
US$200,000 payable by April 19th 2027
US$3.480,000 payable by April 19th 2028
NSR 1%
2
ANTONIO 1/40
100% Frontera SpA
200
3
ANTONIO 10 1/21
100% Frontera SpA
63
4
ANTONIO 19 1/30
100% Frontera SpA
128
5
ANTONIO 21 1/20
100% Frontera SpA
60
6
ANTONIO 36 1/15
100% Frontera SpA
74
7
ANTONIO 5 1/40
100% Frontera SpA
200
8
ANTONIO 9 1/40
100% Frontera SpA
193
9
CAZURRO 1
100% Frontera SpA
200
10
CAZURRO 2
100% Frontera SpA
200
11
CAZURRO 3
100% Frontera SpA
300
12
CAZURRO 4
100% Frontera SpA
300
13
CAZURRO 5
100% Frontera SpA
100
14
CAZURRO 6
100% Frontera SpA
200
15
CAZURRO 7
100% Frontera SpA
200
16
CAZURRO 8
100% Frontera SpA
200
17
CERRO MOLY 1
100% Frontera SpA
300
18
CERRO MOLY 2
100% Frontera SpA
300
19
CERRO MOLY 3
100% Frontera SpA
300
20
CERRO MOLY 4
100% Frontera SpA
300
21
CAZURRO 3 1/60
100% Frontera SpA
300
22
CAZURRO 4 1/60
100% Frontera SpA
300
23
CAZURRO 7 1/40
100% Frontera SpA
200
24
EMILIO 1 1/8
100% Frontera SpA
38
25
EMILIO 3 1/9
100% Frontera SpA
45