Business

Hot Chili Unveils Up-to-Date Technical Report for Costa Fuego Project

PERTH, Australia, April 8, 2024 /PRNewswire/ - Hot Chili Limited (referred to as "Hot Chili" or the "Company"), an enterprise encompassing ventures in exploration and mining, is delighted to announce the official filing of a National Instrument 43-101 Technical Report for its esteemed Costa Fuego copper-gold initiative, situated in Chile. The Chilean landscape is gearing up for a transformative phase in mining with this significant development from Hot Chili.

The report, bearing the title "Costa Fuego Copper Project NI 43–101 Technical Report Mineral Resource Estimate Update," comes with an effective date of February 26, 2024, and an issue date cataloged for April 2024. Being prepared in conformity with the mandates of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (referred to as "NI 43-101"), the Technical Report is set out to provide stakeholders and interested parties with comprehensive insights into the project's potential and feasibility.

In light of transparency and accessibility, the Technical Report has been made available for public review on the SEDAR+ platform at www.sedarplus.ca, and also on the official website of the Company, available at www.hotchili.net.au. These platforms are chosen meticulously to ensure that the stakeholders have seamless access to the details of the report.

The efficacy and completeness of the Technical Report echo the contents of the preceding press release, dated February 26, 2024, which encapsulated the Mineral Resource Update of the Costa Fuego Copper-Gold Project. The Company assures that there exist no substantive discrepancies between the two documents. The prior release discussed updated estimates and prospective outcomes, which are now comprehensively substantiated by the detailed assessments found in the Technical Report.

Hot Chili emphasizes that the Board of Directors has given the green light for this announcement's release to both ASX and TSXV, underscoring the high-degree of corporate governance conformity the company adheres to regarding disclosures and public communications.

Leading Oversight with A Committed Vision

Driving the helm of this project is Mr. Christian Easterday, the Managing Director and CEO of Hot Chili, who is the pivotal figure responsible for this announcement. He holds the authority for the project's release to the reputable ASX and TSXV, ensuring all the procedural and regulatory requirements are met to the highest standard. Mr. Easterday's involvement is essential not only for compliance purposes but also for maintaining investor confidence in the administration of the Company.

Assurance of Scientific and Technical Validity

Integral to the successful appraisal of the Technical Report's scientific and technical substance is Mr. Christian Easterday's expertise and credentials. As a Member of the Australasian Institute of Geoscientists (AIG) and being designated as a Qualified Person outlined in NI 43-101, his endorsement of the information aligns the Costa Fuego's project documentation with the stringent industry and regulatory benchmarks.

The commitment to technical excellence is evident in the detailed approach taken to curate the Technical Report; for additional scientific and technical elucidations on the Costa Fuego project, stakeholders are directed to consult the Technical Report – confirming the company's commitment to clarity and comprehensive disclosure in its operational undertakings.

Enhancing Connectivity and Communications

For further inquiries or detailed discussions regarding the company's operations, contact details for key personnel are provided. Mr. Christian Easterday can be reached at the company's main line at +61 8 9315 9009, or through email at [email protected], ensuring open lines of communication with the head of operations. Additionally, as a testament to Hot Chili's commitment to administrative transparency and accessibility, the Company Secretary, Ms. Penelope Beattie's contact details echo the same sentiment of open interaction – reachable at the same phone number and at [email protected] for correspondence.

Partnering with Harbor Access for Investor and Public Relations, Hot Chili demonstrates its dedication to maintaining robust investor relations and a positive public profile, factors crucial for the sustainability of its brand reputation in the competitive mining industry. Harbor Access handles correspondences at their email address, [email protected], showcasing an additional layer to the company's investor relations infrastructure.

For more personalized experiences or direct access to information, interested parties are encouraged to visit the company’s website at www.hotchili.net.au. This resource offers not only a portal into Hot Chili's corporate ethos but also into the intricate details of their marquee projects.

The Road Forward with Transparent Disclaimer

While the milestones achieved with the updated Technical Report and ensuing developments spark much optimism, Hot Chili Limited proactively issues a disclaimer to ground expectations in realism. The TSX Venture Exchange and its Regulation Services Provider do not assume responsibility for the adequacy or accuracy of this news release. This statement serves to delineate the independent processes undertook by the regulatory bodies and the entity, ensuring a clear understanding of the distinct roles each plays in the market's operations.

In conclusion, Hot Chili Limited's commitment to regulatory compliance, technical diligence, and transparent communication with its stakeholders sets the foundation for the future trajectory of the Costa Fuego copper-gold project. As this announcement circulates, it fortifies the Company's stance as an entity focused on advancing its resource capabilities while conscientiously conforming to industry standards and nurturing stakeholder relations.

About Hot Chili Limited

Hot Chili Limited, a leading copper-gold exploration company, is engaged in developing the Costa Fuego project into one of the next significant copper mines globally. With meticulous resource development and strategic advances guided by a seasoned management team, Hot Chili aims to deliver substantial value to its shareholders and contribute to the mining sector's sustainable development.

The company's pursuit of excellence is mirrored in the adherence to international standards and a keen focus on ethical, environmentally sound practices, aspecting the business for enduring success. In a dynamic mining landscape, Hot Chili's comprehensive Technical Report for the Costa Fuego copper-gold project serves as a testament to the Company's dedication to meticulous project management and a clear, forward-looking vision.

Further Information for Stakeholders

Hot Chili Limited acknowledges the importance of keeping stakeholders informed and engaged. For those who seek detailed insights and updates on the company’s operations, Hot Chili encourages visiting their website. The accessibility of contact channels and the provision of technical information underscore the company’s commitment to open dialogue and transparency.

The diversification of communication channels, from direct contact with company executives to public relations management, manifests Hot Chili's perspective on the interconnectedness of successful corporate management and stakeholder engagement. The company is set on fostering durable relationships with its investors, the public, and the larger mining community, through continued communication and meaningful disclosures.

SOURCE Hot Chili Limited

This news release is officially released by Hot Chili Limited, the entity at the forefront of developing the promising Costa Fuego copper-gold project. The dedication of Hot Chili Limited towards advancing the mining sector with comprehensive and diligent explorations is evident across its operational spectrum.

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For more information on Hot Chili Limited and their future endeavors, investors, press, and the public are encouraged to regularly check the official website or reach out via provided contact avenues, ensuring that they remain abreast of the most recent developments in this dynamic and exciting phase of growth for the company.

Hot Chili Limited continues to set itself apart as a premier entity within the mining industry, characterized by its strategic foresight, emphasis on regulation and technical accuracy, and a culture that fosters transparency and stakeholder involvement. As the Technical Report for the Costa Fuego project has been filed, the company looks ahead to harnessing the project's promise, delivering measurable advances to its shareholders, and making significant contributions to the industry's future.