HCH.V · 2026-06-16 11:55:00

La Verde Delivers Another Strong Copper-Gold Drill Result 391 m grading 0.51% CuEq from Surface - Newswire Canada

Drill Results

Highlights

Latest assay results have returned grades well above visual expectation in diamond drill hole DKD044, adding to La Verde's rise as one of Chile's most significant new coastal copper-gold (Cu-Au) porphyry discoveries
DKD044 recorded 391.1 m grading 0.51% CuEq¹ (0.42% Cu, 0.11 g/t Au) from surface, including:
- 17.8 m grading 0.68% CuEq (0.63% Cu, 0.06 g/t Au) from surface
- 40.7 m grading 0.60% CuEq (0.50% Cu, 0.12 g/t Au) from 103.3 m
- 85.4 m grading 0.61% CuEq (0.50% Cu, 0.15 g/t Au) from 160 m
- 19.7 m grading 0.70% CuEq (0.57% Cu, 0.15g/t Au) from 276.1 m
These results continue to demonstrate strong continuity of shallow, higher grade, copper-gold mineralisation, underpinning a growing high-grade starter pit opportunity for the Company's Costa Fuego Cu-Au project
Assay results are pending for 22 drill holes (six diamond and 16 reverse circulation) including DKD049, DKP052, DKP053 and DKP054 which are expected to confirm significant extensions to La Verde's high-grade core²
Second ISO-accredited laboratory engaged to assist in accelerating assay result turnaround times

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¹Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz. The entirety of the intersection is assumed as fresh. The recovery and copper equivalent formula for La Verde uses Cortadera as a proxy, which is considered reasonable given both the similar mineralisation style and amenability testwork completed thus far at La Verde – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu (%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t).

² See announcement 'Latest Drilling Lifts Growth Potential of La Verde's High-Grade Copper-Gold Core', dated 5 May 2026

PERTH, Australia, June 16, 2026 /CNW/ - Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili" or the "Company") is pleased to provide further positive drilling results from its La Verde Cu-Au porphyry discovery (La Verde), located 30 km south of the Company's Costa Fuego Cu-Au Project (Costa Fuego) planned central processing hub in Chile's coastal Atacama region.

Latest Results from DKD044 Exceed Expectation

Diamond Drill Rig 11 and Reverse Circulation Drill Rig 12 operating at La Verde

Figure 1. Location of La Verde in relation to Costa Fuego, coastal range Chile

Figure 2. Plan view map of La Verde showing recent drill hole results DKD044, DKD042 and DKP041 and updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Drilled holes with pending assays are shown in black. Position of A – A’ cross section (Figure 3) annotated with white dashed lines. Conceptual open pit shells1 displayed for $US3.50/lb Cu (blue) and $US6.00/lb Cu (green) displayed as dashed lines. Results reported including CuEq2.

Figure 3. Cross section slice along DKD044 (± 75m clipping) showing +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants and returned assay results for DKD044. Visual estimate1 for DKD049 also shown. Returned Cu grades shown on hole traces. Conceptual open pit shells2 displayed for $US6.00/lb Cu (dashed line) displayed. Results reported including CuEq3

Figure 4. Zoomed plan view map of La Verde showing recent drill hole results DKD044, DKD042 and DKP041, returned Cu grades shown on hole traces. Drilled holes with pending assays are shown in black.

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