Thick, High-Grade, Surface Enrichment Zone Extends at La Verde DKP063 returns 62 m grading 0.91% CuEq¹ (0.70% Cu, 0.30 g/t Au) from 20 m, within 398 m grading 0.45% CuEq from surface Thick, High-Grade, Surface Enrichment Zone Extends at La Verde
Thick, High-Grade, Surface Enrichment Zone Extends at
La Verde
DKP063
returns
62 m grading 0.91% CuEq¹ (0.70% Cu, 0.30 g/t Au) from 20 m, within 398 m grading 0.45% CuEq
from surface
Thick, High-Grade, Surface Enrichment Zone Extends at La Verde
Highlights
The La Verde porphyry discovery has
delivered another round of high-grade, near-surface copper-gold drill results,
supporting
the Company's objective of integrating La Verde into the Costa Fuego copper-gold (Cu-Au) Project, located on
Chile's coastal range at low elevation.
Three high-grade intersections from shallow depths
headline the latest Reverse Circulation (RC) drilling at La Verde,
supporting the continuity of wide mineralised zones across the deposit
. Significant intersections include:
DKP063 recorded
398 m grading 0.45% CuEq
(0.35% Cu, 0.12 g/t Au)
from surface
Including
62 m grading 0.91% CuEq
(0.70% Cu, 0.30 g/t Au)
from 20 m depth
Which included
12 m grading 1.00% CuEq
(0.66% Cu, 0.49 g/t Au)
from 20 m depth
And included
34 m grading 1.00% CuEq
(0.80% Cu, 0.27 g/t Au)
from 42 m depth
DKP075 recorded
132 m grading 0.57% CuEq
(0.45% Cu, 0.16 g/t Au)
from 24 m depth
(partial)
Including
42 m grading 0.70% CuEq
(0.57% Cu, 0.19 g/t Au)
from 96 m
Assays are still outstanding for the remaining 177 m, results expected shortly
DKP064 recorded
126 m grading 0.45% CuEq
(0.38% Cu, 0.08 g/t Au)
from 54 m depth
Including
26 m grading 0.70% CuEq
(0.60% Cu, 0.13 g/t Au)
from 108 m
Assays from 22 drillholes (two Diamond Drill (DD), one DD tail and 19 RC) remain pending,
providing a steady flow
of results as assay turnaround time improves from two accredited laboratories.
_______________________________________________________
1
Copper 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).
PERTH, Australia
,
Sept. 8, 2026
/CNW/ -- Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili" or the
"Company") is pleased to announce another set of high-grade drill 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.
Christian Easterday, Managing Director of Hot Chili, said:
"DKP063 is among the strongest near-surface intersections we
have drilled at La Verde so far, with comparable grades are now appearing across the deposit, we have confidence in
the scale of a potential high-grade starter pit for Costa Fuego. With assays from 22 holes still to come, our focus is on
converting this drilling into a maiden Mineral Resource and, from there, integrating this into an enhanced and upscaled
Costa Fuego Prefeasibility study."
Three New, Near-Surface High-Grade Intersections Highlight Scale
Three RC drillholes targeting the up-dip extension of high-grade mineralisation at La Verde have each returned wide
intersections of copper-gold mineralisation from shallow depths. Importantly, these results are distributed across the
deposit, highlighting the scale and continuity of La Verde's growing high-grade core.
These results are headlined by DKP063 (Figure 3 and 4), which recorded
398 m grading 0.45% CuEq (0.35% Cu, 0.12
g/t Au) from surface
. Within this, a significant higher-grade component includes 62 m grading
0.91% CuEq
(0.70% Cu,
0.30 g/t Au) from just 20 m depth
, demonstrating the continuity of high-grade mineralisation at shallow depths (Figure 6)
and reinforcing the potential for a high-grade starter pit, capable of delivering early higher-grade material to the Costa
Fuego mine plan.
DKP075 recorded a partial result of
132 m grading 0.57% CuEq (0.45% Cu, 0.16 g/t Au) from 24 m depth
which
included
42 m grading 0.70% CuEq (0.57% Cu, 0.19 g/t Au) from 96 m
(Figure 5). The hole was designed to test a
near-surface data gap between two interpreted high-grade areas, with the result indicating continuity of a broad blanket of
oxide mineralisation in this area. Results from the final 177 m of this hole are still outstanding and are expected to be
reported shortly.
Additionally, DKP064, which was collared at the southern extent of La Verde's high-grade core, returned
126 m grading
0.45% CuEq (0.38% Cu, 0.08 g/t Au) from 54 m depth
, including
26 m grading 0.70% CuEq (0.60% Cu, 0.13 g/t Au)
from 108 m
, together with a second intersection of 74 m grading 0.35% CuEq (0.29% Cu, 0.07 g/t Au) from 276 m.
Importantly, the presence of these grades at the southern margin of the interpreted high-grade core further supports the
lateral continuity of higher-grade mineralisation and suggests potential for expansion in this direction, which remains to be
tested (Figure 4).
Updated DKD060 Result Extends Mineralisation to 765m Down-Hole Depth
Final assay results for the deeper portion of DKD060 have been added to the previously reported intersection of 472 m
grading 0.41% CuEq (0.34% Cu, 0.08 g/t Au) from 49 m (see announcement dated 24 August 2026).
An additional intersection of 123.1 m grading 0.30% CuEq (0.27% Cu, 0.02 g/t Au) from 642.1 m
confirms continuity of
the mineralised porphyry system to 765.2 m
, close to the end-of-hole depth of 772.7 m, highlighting the vertical extent
and scale potential of the La Verde discovery (Figure 4). The interval is punctuated by a narrow, higher-grade zone of 2.3
m grading 4.56% Cu from 655.5 m hosted within chalcopyrite-rich veining.
Advancing Toward Maiden MRE and Pre-Feasibility Study (PFS) Integration
Hot Chili continues to advance resource definition and development workstreams at La Verde, with a maiden Mineral
Resource Estimate (MRE) targeted for completion later this year. The Company expects to follow with a revised Costa
Fuego Pre-Feasibility Study (PFS), incorporating La Verde, ahead of formal submission of the Costa Fuego Environmental
Impact Assessment (EIA) in Q2 2027.
Ongoing drilling continues to expand and upgrade confidence in La Verde's high-grade copper-gold mineralisation,
supporting the Company's objective of integrating the discovery into the Costa Fuego mine plan and development strategy.
This announcement is authorised by the Board of Directors for release to ASX and TSXV.
For more information please contact:
Christian Easterday
Managing Director & CEO – Hot Chili
Tel: +61 8 9315 9009
Email:
Carol Marinkovich
Company Secretary – Hot Chili
Tel: +61 8 9315 9009
Email:
Graham Farrell
Investor & Public Relations
Email:
or visit Hot Chili's website at
www.hotchili.net.au
Figure 1.
Location of La Verde in relation to Costa Fuego, coastal range Chile
Figure 1. Location of La Verde in relation to Costa Fuego, coastal range Chile
1
asl = above sea level
Table 1.
New significant drilling intersections from La Verde
Hole ID
Coordinates
Azim
Dip
Hole Depth
Intersection
Interval
Copper Eq
1
Copper
Gold
Silver
Molyb.
North
East
RL
From
To
(m)
(% CuEq)
(% Cu)
(g/t Au)
(ppm Ag)
(ppm Mo)
DKP059
6785728
324866
1139
70
-61
120
36
78
42.0
0.25
0.21
0.04
0.35
30
DKD060
(updated)
6785762
324909
1139
260
-61
772.7
49.0
521.0
472.0
0.41
0.34
0.08
0.60
34
Incl
93.4
157.1
63.7
0.50
0.42
0.10
0.73
10
& Incl
397.0
502.8
105.8
0.70
0.58
0.15
0.99
19
Or Incl
438.0
470.6
32.6
0.90
0.75
0.19
1.30
31
642.1
765.2
123.1
0.30
0.27
0.02
0.80
23
Incl
655.5
657.8
2.3
4.63
4.56
0.02
10.40
18
DKP061
6785608
324901
1147
271
-61
273
70
98
28.0
0.27
0.22
0.05
0.71
25
166
206
40.0
0.40
0.33
0.08
1.10
21
DKP063
6785713
324566
1132
63
-70
417
0
398
398.0
0.45
0.35
0.12
0.58
18
Incl
20
82
62.0
0.91
0.70
0.30
1.07
6
Which Incl
20
32
12.0
1.00
0.66
0.49
1.40
7
& Incl
42
76
34.0
1.00
0.80
0.27
0.95
5
DKP064
6785669
324508
1155
101
-57
426
54
180
126.0
0.45
0.38
0.08
1.03
24
Incl
108
134
26.0
0.70
0.60
0.13
0.83
11
276
350
74.0
0.35
0.29
0.07
0.85
16
DKP075
(partial)
6785983
324631
1153
99
-57
333
24
156
132.0
0.57
0.45
0.16
0.68
7
Incl
96
138
42.0
0.70
0.57
0.19
1.06
11
Notes to Table 1: Significant intercepts for La Verde are reported above a nominal cut-off grade of 0.20% Cu. Reported intersections may include internal dilution (intervals below 0.20% Cu), including zones exceeding 30
m downhole width, where the overall weighted average grade of the intersection remains above the cut-off grade. Significant intersections are separated where zones of internal dilution result in discrete intervals that do
not meet the reporting criteria. The selection of a 0.20% Cu cut-off grade is aligned with a marginal economic cut-off for bulk tonnage polymetallic copper deposits of comparable grade in Chile and globally.
1
Copper 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).
Figure 2.
Plan view map of La Verde showing recent drill hole results 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' long section (Figure 3), B – B' cross section (Figure 4) and C – C' cross section (Figure 5) annotated with white
dashed lines. Conceptual open pit shells1 displayed for $US3.50/lb Cu (short dash) and $US6.00/lb Cu (long dash)
displayed as dashed lines. Results reported including CuEq2.
Figure 2. Plan view map of La Verde showing recent drill hole results 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’ long section (Figure 3), B – B’ cross section (Figure 4) and C – C’ cross section (Figure 5) annotated with white
dashed lines. Conceptual open pit shells1 displayed for $US3.50/lb Cu (short dash) and $US6.00/lb Cu (long dash)
displayed as dashed lines. Results reported including CuEq2.
Figure 2. Plan view map of La Verde showing recent drill hole results 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’ long section (Figure 3), B – B’ cross section (Figure 4) and C – C’ cross section (Figure 5) annotated with white
dashed lines. Conceptual open pit shells1 displayed for $US3.50/lb Cu (short dash) and $US6.00/lb Cu (long dash)
displayed as dashed lines. Results reported including CuEq2.
1
See Page 11 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.
2
Copper 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).
Figure 3.
Long-section slice (A – A') showing recent drill hole results and updated +0.2% copper (yellow), +0.3% copper
(red), +0.4% copper (magenta) mineralisation interpolants. Returned Cu grades shown on hole traces, drilled holes with
pending assays are shown in black. Conceptual open pit shells1 displayed for $US3.50/lb Cu (short dash) and $US6.00/lb
Cu (long dash) displayed as dashed lines. Results reported including CuEq2.
Figure 3. Long-section slice (A – A’) showing recent drill hole results and updated +0.2% copper (yellow), +0.3% copper
(red), +0.4% copper (magenta) mineralisation interpolants. Returned Cu grades shown on hole traces, drilled holes with
pending assays are shown in black. Conceptual open pit shells1 displayed for $US3.50/lb Cu (short dash) and $US6.00/lb
Cu (long dash) displayed as dashed lines. Results reported including CuEq2.
1
See Page 11 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.
2
Copper 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).
Figure 4.
Cross section slice (B – B') showing recent drill hole results DKP063, DKP064, DKP059 and DKD060 (± 75m
clipping) and updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants.
Returned Cu grades shown on hole traces, drilled holes with pending assays are shown in black. Conceptual open pit
shells1 displayed for $US3.50/lb Cu (short dash) and $US6.00/lb Cu (long dash) displayed as dashed lines. Results
reported including CuEq2.
Figure 4. Cross section slice (B – B’) showing recent drill hole results DKP063, DKP064, DKP059 and DKD060 (± 75m
clipping) and updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants.
Returned Cu grades shown on hole traces, drilled holes with pending assays are shown in black. Conceptual open pit
shells1 displayed for $US3.50/lb Cu (short dash) and $US6.00/lb Cu (long dash) displayed as dashed lines. Results
reported including CuEq2.
1
See Page 11 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.
2
Copper 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).
Figure 5.
Cross section slice (C – C') showing partial drill hole results DKP075 (± 75m clipping) and updated +0.2%
copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Returned Cu grades shown on
hole traces, drilled holes with pending assays are shown in black. Conceptual open pit shells1 displayed for $US3.50/lb Cu
(short dash) and $US6.00/lb Cu (long dash) displayed as dashed lines. Results reported including CuEq2.
Figure 5. Cross section slice (C – C’) showing partial drill hole results DKP075 (± 75m clipping) and updated +0.2% copper
(yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Returned Cu grades shown on hole
traces, drilled holes with pending assays are shown in black. Conceptual open pit shells1 displayed for $US3.50/lb Cu
(short dash) and $US6.00/lb Cu (long dash) displayed as dashed lines. Results reported including CuEq2.
1
See Page 11 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.
2
Copper 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).
Figure 6.
Oblique slice towards NW (Azi 325°, Plunge+26°). 0.3% and 0.4% Cu interpolants displayed for oxide and
transitional material, sliced along NNE orientation with the front removed. US$3.50/lb Cu conceptual open pit shell
displayed in dark grey; US$6.00/lb Cu conceptual open pit shell displayed in light grey1. Base of weathering shown as
dashed blue line. Results reported including CuEq2.
Figure 6. Oblique slice towards NW (Azi 325°, Plunge+26°). 0.3% and 0.4% Cu interpolants displayed for oxide and
transitional material, sliced along NNE orientation with the front removed. US$3.50/lb Cu conceptual open pit shell
displayed in dark grey; US$6.00/lb Cu conceptual open pit shell displayed in light grey1. Base of weathering shown as
dashed blue line. Results reported including CuEq2.
1
See Page 11 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.
2
Copper 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).
Qualifying Statements
Conceptual Open Pit Shells
Conceptual open pit shells represent Exploration Targets as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code). They are based on completed
exploration activities reported in the announcement released 19 May 2025 (
'Hot Chili Announces Latest Drill Results for La
Verde, Doubling Porphyry Discovery Footprint'
).
The conceptual open pit shells were generated using copper (Cu) prices of US$3.50/lb Cu and US$6.00/lb Cu on a series
of nested Cu grade shells. Other input parameters informing the conceptual open-pit shells (pit slope angles, mining cost,
processing cost, etc.) were derived from values reported in the March 2025 Costa Fuego Pre-Feasibility Study and are
considered appropriate for the style of mineralisation encountered at the La Verde Cu-Au porphyry discovery.
Any potential quantity 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.
Further exploration activities are detailed in this announcement and include (but may not necessarily be limited to) a
program of diamond drillholes aiming to extend the mineralised footprint at La Verde. Drilling commenced on 22 September
2025, with the length of the program dependent on a number of considerations including (but not limited to) the results of
the exploration activities and regulatory applications and approvals.
Qualified Person – NI 43-101
The technical information in this announcement has been reviewed and approved by Mr Christian Easterday, MAIG, Hot
Chili's Managing Director and a qualified person within the meaning of National Instrument 43-101 –
Standards of
Disclosure for Mineral Projects
. For further information, please refer to the Company's technical report titled "Costa Fuego
Project, NI 43-101 Technical Report Preliminary Feasibility Study", with an effective date of 27 March 2025, a copy of
which is available for review under the Company's issuer profile on SEDAR+ (
www.sedarplus.ca
).
Competent Person – JORC
The information in this announcement that relates to Exploration Results and Exploration Targets for the La Verde project
is based upon information compiled by Mr Christian Easterday, the Managing Director and a full-time employee of Hot Chili
Limited, who is a Member of the Australasian Institute of Geoscientists (AIG). Mr Easterday has sufficient experience that
is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking
to qualify as a 'Competent Person' as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves' (JORC Code). Mr Easterday consents to the inclusion in this
announcement of the matters based on their information in the form and context in which it appears.
The information in this announcement relating to previously reported Exploration Results for La Verde was previously
reported in the Company's announcements 'Hot Chili Confirms Major Cu-Au Porphyry Discovery at La Verde', 'Hot Chili
Announces Latest Drill Results for La Verde, Doubling Porphyry Discovery Footprint', 'District-Scale Porphyry Cluster
Potential Emerging at La Verde Cu-Au Discovery', 'First Diamond Drillhole Confirms Gold-Rich Major Copper Discovery in
Coastal Chile', 'Near-Surface Higher-Grade Core Confirmed at La Verde', 'Rapid Growth of High Grade Core Continues at
La Verde', 'Shallow High Grade Results Continue at La Verde', 'Hot Chili Confirms Major High-Grade Extension at La
Verde', 'Latest Drilling Lifts HG Core Potential of La Verde', 'Strong Copper-Gold Results Continue at La Verde', 'La Verde
Emerging as Cornerstone Asset for HCH', and 'Hot Chili Delivers More Copper-Gold at La Verde' released to ASX on 26
February 2024, 19 May 2025, 29 May 2025, 27 November 2025, 10 December 2025, 20 January 2026, 16 February
2026, 8 April 2026, 5 May 2026, 16 June 2026, 28 July 2026, and 24 August 2026 respectively, which are available to
view on the Company's website at
www.hotchili.net.au/investors/investor-centre/market-announcements
. The Company
confirms that it is not aware of any new information or data that materially affects the information included in the original
market announcements.
Disclaimer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this announcement.
Forward Looking Statements
This announcement contains certain statements that are "forward-looking information" within the meaning of applicable
Canadian securities legislation and "forward-looking statements" within the meaning of applicable Australian securities
regulation (collectively, the "forward-looking statements"). Forward-looking statements reflect the Company's current
expectations, forecasts, and projections with respect to future events, many of which are beyond the Company's control,
and are based on certain assumptions. No assurance can be given that these expectations, forecasts, or projections will
prove to be correct, and such forward-looking statements included in this announcement should not be unduly relied upon.
Forward-looking information is by its nature prospective and requires the Company to make certain assumptions and is
subject to inherent risks and uncertainties. All statements other than statements of historical fact are forward-looking
statements. The use of any of the words "estimate", "expansion", "expand", "expected", "may", "momentum", "plan",
"potential", "project", "large-scale", "should", "will", variants of these words and similar expressions are intended to identify
forward-looking statements.
The forward-looking statements within this announcement are based on information currently available and what
management believes are reasonable assumptions. Forward-looking statements speak only as of the date of this
announcement.
In this announcement, forward-looking statements relate, among other things, to: the potential of the La Verde discovery;
regulatory applications and approvals; the timing and results of future economic studies; and the Company's future
exploration and other business plans.
Forward-looking statements involve known and unknown risks, uncertainties, and other factors, which may cause the actual
results, performance, or achievements of the Company to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. A number of factors could cause actual results to
differ materially from a conclusion, forecast or projection contained in the forward-looking statements in this announcement,
including, but not limited to, the following material factors: the ability of drilling and other exploration activities to accurately
predict mineralisation; operational risks; risks related to the cost estimates of exploration; sovereign risks associated with
the Company's operations in Chile; changes in estimates of mineral resources or mineral reserves of properties where the
Company holds interests; recruiting qualified personnel and retaining key personnel; future financial needs and availability
of adequate financing; fluctuations in mineral prices; market volatility; exchange rate fluctuations; ability to exploit
successful discoveries; the production at or performance of properties where the Company holds interests; ability to retain
title to mining concessions; environmental risks; financial failure or default of joint venture partners, contractors or service
providers; competition risks; economic and market conditions; and other risks and uncertainties described elsewhere in this
announcement and elsewhere in the Company's public disclosure record.
Although the forward-looking statements contained in this announcement are based upon assumptions which the Company
believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-
looking statements. With respect to forward-looking statements contained in this announcement, the Company has made
assumptions regarding: future commodity prices and demand; availability of skilled labour; timing and amount of capital
expenditures; future currency exchange and interest rates; the impact of increasing competition; general conditions in
economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental
agencies; future tax rates; future operating costs; availability of future sources of funding; ability to obtain financing; and
assumptions underlying estimates related to adjusted funds from operations. The Company has included the above
summary of assumptions and risks related to forward-looking information provided in this announcement to provide
investors with a more complete perspective on the Company's future operations, and such information may not be
appropriate for other purposes. The Company's actual results, performance or achievement could differ materially from
those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any
of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits
the Company will derive therefrom.
For additional information with respect to these and other factors and assumptions underlying the forward-looking
statements made herein, please refer to the public disclosure record of the Company, including the Company's most recent
Annual Report, which is available on SEDAR+ (
www.sedarplus.ca
) under the Company's issuer profile. New factors
emerge from time to time, and it is not possible for management to predict all those factors or to assess in advance the
impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in any forward-looking statement.
The forward-looking statements contained in this announcement are expressly qualified by the foregoing cautionary
statements and are made as of the date of this announcement. Except as may be required by applicable securities laws,
the Company does not undertake any obligation to publicly update or revise any forward-looking statement to reflect
events or circumstances after the date of this announcement or to reflect the occurrence of unanticipated events, whether
as a result of new information, future events or results, or otherwise. Investors should read this entire announcement and
consult their own professional advisors to ascertain and assess the income tax and legal risks and other aspects of an
investment in the Company.
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https://www.prnewswire.com/news-releases/thick-high-grade-surface-enrichment-zone-extends-at-la-verde-302872194.html
SOURCE Hot Chili Limited
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/September2026/08/c1324.html
%SEDAR: 00053528E
CO: Hot Chili Limited
CNW 07:00e 08-SEP-26