Mr. Christian Easterday reports

HOT CHILI FILES NI 43-101 TECHNICAL REPORT FOR THE COSTA FUEGO COPPER-GOLD PROJECT IN CHILE

Hot Chili Ltd. has filed on SEDAR+ an independent technical report for its Costa Fuego copper-gold project in Chile.

The report, titled "Costa Fuego Copper Project NI 43-101 Technical Report Preliminary Feasibility Study" and dated May 9, 2025, with an effective date of March 27, 2025, was prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects. It is available for review on both SEDAR+ and the company's website.

The technical report supports the news release dated March 27, 2025, announcing the results of the prefeasibility study in respect of the Costa Fuego copper-gold project. There are no material differences between the technical report and the information disclosed in the news release dated March 27, 2025.

This announcement is authorized by the board of directors for release to the Australian Securities Exchange and the TSX Venture Exchange.

Hot Chili's managing director and chief executive officer, Christian Easterday, is responsible for this announcement and has provided signoff for release to the ASX and TSX-V.

Technical information

Scientific and technical information in this announcement has been reviewed and approved by Mr. Easterday, the managing director of Hot Chili, who is a Member of the Australasian Institute of Geoscientists (AIG) and a qualified person as defined in NI 43-101. For further information on Costa Fuego, please see the technical report.