HOT CHILI LTD NEW - HHLKF STOCK NEWS

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.

Hot Chili Limited (HHLKF) partners with Puerto Las Losas SA for a Feasibility Study on a bulk copper concentrate facility in Chile. Hot Chili will fund 20% of the estimated US$4.6 million study. The MOU grants Hot Chili the right to negotiate a Port Services Agreement for three years, potentially unlocking significant savings. The agreement includes a 'Take or Pay Volume' clause based on future concentrate production. Hot Chili aims to develop a copper infrastructure corridor benefiting multiple projects in the region.

Hot Chili Limited has completed a Water Supply Concept Study for the Huasco valley region in Chile, showcasing potential for a large, multi-user desalination water supply network. The study reveals opportunities for a 100% renewable energy-driven water business, aiming to meet community, agricultural, and mining demands. The company holds essential permits and concessions, positioning itself to provide critical water access to the region. Significant economic, environmental, and social benefits are anticipated, with engagement processes initiated with potential customers and infrastructure partners.

Hot Chili Limited announces a significant increase in the Mineral Resource at its Costa Fuego copper-gold project in Chile. The Indicated Resource has seen a 6% rise in copper-equivalent contained metal, with over 85% now classified as Indicated. The company expects to complete a Pre-feasibility study in H2 2024, with further updates anticipated in various areas.

Hot Chili Limited (HHLKF) signs Option Agreement with Bastion Minerals for Cometa Project in Chile, enhancing Costa Fuego copper project. The agreement includes exploration and mining concessions, with potential mineral resources to be processed at Hot Chili's facilities. Financial terms involve non-refundable payments and purchase considerations based on the timing of the Option exercise. Hot Chili continues its consolidation strategy for Costa Fuego.

Hot Chili Limited (HHLKF) announces the filing of financial reports for Q4 2023. The company reduces option payments by US$10 million, expands Costa Fuego, and commences resource expansion drilling. The drilling aims to test resource growth opportunities, with significant drill intersections reported. A resource upgrade is expected in Q1 2024, and pre-feasibility and water supply concept studies are on track. The company also begins maritime concession works and has a strong cash position of A$13.3 million.

Hot Chili Limited has commenced the next phase of its 30,000m resource growth focused drill program at the Costa Fuego Copper-Gold Project in Chile. Significant drill results at Marsellesa and Cordillera have been reported, and a resource upgrade is expected in Q1 2024. The company is also advancing pre-feasibility and water concept studies.

Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) has reported a material improvement in the terms of several option agreements to acquire landholdings as part of the Company's Costa Fuego Copper-Gold Project in Chile. The company has terminated three options due for exercise in 2024 and replaced them with one new option agreement, the El Fuego Option, now exercisable in September 2026. This move has materially reduced the company's option payments due in 2024 from US$11 million to US$1 million and increased Hot Chili's ownership from 90% to 100%, subject to exercise of the option. The company is actively evaluating the region for consolidation opportunities and is expected to see further success on this front. The El Fuego Option allows the company to focus its balance sheet toward exploration and growth of its mineral resource as opposed to property payments. The total purchase price for the El Fuego landholdings, if the El Fuego Option is exercised in 2026, is now US$4,300,000. Additional payments of up to US$4,000,000 are conditional on certain matters, including copper price averages and mineral resource reporting. Hot Chili thanks the Del Campo family for their ongoing support of Hot Chili, both as shareholders and partners, toward building a new large-scale copper mining hub for the Huasco region of Chile.