HOT CHILI LTD NEW - HHLKF STOCK NEWS

Hot Chili (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) has entered into a consulting agreement with 49 North Investor Relations to provide investor relations services. The agreement, compliant with TSXV policies, involves a CAD$10,000 monthly fee for an initial 12-month period. 49 North, a Toronto-based firm with over 20 years of experience, will assist Hot Chili with preparing corporate materials, press releases, coordinating roadshows, managing social media outreach, and facilitating investor communications. This strategic move aims to enhance Hot Chili's investor relations capabilities and support its growth as a publicly-listed small cap company.

Hot Chili has secured A$31.9 million in funding to accelerate its Costa Fuego Copper Hub project in Chile. The company raised A$24.9 million through a private placement and an additional A$7 million via a Share Purchase Plan. This funding will support the completion of the Costa Fuego Pre-Feasibility Study, Water Supply Business Case Study, Environmental Impact Assessment, and the commencement of a bankable feasibility study.

Hot Chili has also created a new water company, Huasco Water, in partnership with Compania Minera del Pacifico. The company holds an 80% interest in Huasco Water, which aims to supply sea water and desalinated water to the Huasco Valley region. The Costa Fuego Pre-Feasibility Study is on track for completion in late 2024. Exploration activities are underway, including geophysical surveys and geological mapping. Hot Chili's cash position stands at A$33.8 million.

Hot Chili (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) has appointed Ryan Finkelstein as Chief Financial Officer (CFO), effective July 15, 2024. Finkelstein, a Chartered Accountant with over 14 years of experience, including 10 years in audit at Grant Thornton, replaces interim CFO Ms. Le Moignan. He brings extensive international experience and expertise in strategy, compliance, corporate governance, and risk management.

CEO Christian Easterday welcomed Finkelstein as a key member of the leadership team, praising his strategic thinking and financial acumen. Finkelstein will be eligible to participate in the company's short-term and long-term incentive plans. This appointment marks a significant addition to Hot Chili's executive team as the company continues to develop its operations.

Hot Chili and Compania Minera del Pacifico (CMP) have launched Huasco Water, a new entity to address water scarcity in Chile's Atacama region. Hot Chili holds an 80% interest in Huasco Water, while CMP holds 20%. The new company will develop a seawater and desalinated water supply network for mining, agriculture, and community use. The transfer of critical water assets from Sociedad Minera El Águila SpA to Huasco Water has started. Hot Chili's Costa Fuego project and CMP's Los Colorados mine are potential large consumers of this water. Additionally, discussions with other potential off-takers are ongoing. The establishment of Huasco Water aligns with industry trends in water infrastructure outsourcing, as evidenced by Antofogasta Minerals' recent $600 million water asset sale. This move secures water supply for future developments and preserves continental water sources.

Hot Chili (ASX: HCH; TSXV: HCH; OTCQX: HHLKF) held its General Meeting on July 4, 2024, in Perth, Australia. All resolutions proposed were passed. Key resolutions included the ratification of placement shares under Listing Rules 7.1 and 7.1A, approval for issuing broker options to agents, approval for issuing underwriter options to Veritas, and re-approval of the Employee Incentive Plan. The vote percentages were mainly in favor, with 92.65% for resolutions 1 and 2, over 94% for resolutions 3 and 4, and 89.44% for resolution 5. Abstentions were noted but did not affect the outcomes.

The results indicate strong shareholder support for the company's strategies, including its equity and incentive plans. Detailed voting results are available in the official release.

Hot Chili (HHLKF) announced its financial report for the quarter ending March 31, 2024, showing significant advancements in various areas.

The company reported a substantial increase in its Costa Fuego Indicated Copper-Gold Resource, reaching approximately 798 Mt. Moreover, the Mineral Resource reflected a 6% rise in copper-equivalent (CuEq) contained metal in the Indicated Resource and a 9% increase in CuEq contained metal in the higher-grade section of the Indicated Resource.

Additionally, Hot Chili has made progress in its water study, preparing to establish a new water company, and enhanced regional consolidation for Costa Fuego. The company is also working on exploration activities, with deep penetrating geophysical surveys and drilling initiatives.

Despite these positive developments, the company's cash position stood at A$9.5 million. The press release was authorized by the Managing Director for release to the TSXV.

Hot Chili announced the acquisition of the Domeyko cluster, a large addition to its Costa Fuego Copper-Gold Project in Chile, boosting its exploration pipeline. The company secured an option for 141 km2 of land, representing a 25% increase in total landholding area. This new landholding strengthens the potential for discovering new mineral resources. The Technical Report confirms Costa Fuego as a low-risk, long-life copper project with high metal production. Hot Chili is progressing towards the delivery of the Pre-Feasibility Study in 2H 2024, aiming to contribute significant new copper supply this decade.

Hot Chili submits a second maritime concession application to create a water network in Chile's Huasco valley, including desalination operations. The company plans to transfer water assets into a new stand-alone water company. Positive initial engagement with potential customers and infrastructure partners aims to generate value for shareholders. Hot Chili holds necessary permits for desalinated water supply, focusing on multi-user projects in the region. A Water Supply Business Case Study is underway to meet community, agricultural, and mining demand in the Huasco Valley.

Hot Chili announces the filing of a National Instrument 43-101 Technical Report for its Costa Fuego copper-gold project in Chile. The report supports the previous Mineral Resource Update release and is available for review on SEDAR+ and the Company's website.