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

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.

PERTH, Australia, Sept. 8, 2026 /PRNewswire/ -- 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.

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

Table 1. New significant drilling intersections from La Verde

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 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 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 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 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.

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.