Hot Chili Taps La Verde Discovery to Anchor Costa Fuego Expansion

Ongoing drilling at La Verde continues to return high-grade results, with recent reverse circulation holes identifying broad, near-surface mineralisation. Standout intercepts include hole DKD044, which recorded 391.1 meters grading 0.51% copper equivalent from the surface, reinforcing the potential for a high-grade starter pit. To manage the increased volume of samples, the company has engaged a second ISO-accredited laboratory, successfully reducing assay turnaround times that had previously stretched beyond ten weeks.

Management is currently integrating these findings into a revised pre-feasibility study for the Costa Fuego hub, with a maiden mineral resource estimate for La Verde expected later this year. The project development team, now led by David Bayona, is overseeing the dual-track environmental impact assessment process. As of June 30, 2026, Hot Chili maintained a cash position of approximately A$25 million, bolstered by the strategic royalty deal. The company continues to facilitate a formal partnering process, engaging with prospective strategic investors to support the long-term funding and delivery of the flagship development.