Lead Quartile Copper Manufacturing Scale³, Lowest Quartile Capital Depth Situated at the Coastal Area in Chile

PERTH, Australia, March 27, 2025 /PRNewswire/ – Sizzling Chili Restricted (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) (“Hot Chili” or the “Company”) is happy to announce the result of a Pre-Feasibility Find out about (“PFS”), ready in keeping with Nationwide Device 43-101 – Requirements of Disclosure for Mineral Initiatives (“NI 43-101”) of the Canadian Securities Directors, for its Costa Fuego copper-gold venture (the “Costa Fuego Project” or “Costa Fuego”). All financial quantities are expressed in United States greenbacks except another way indicated.

PFS Highlights

Globally Significant Scale & Multi-Decade Mine Generation

• Undertaking Generation Prolonged to twenty Years
• Moderate Annual Manufacturing Larger 116 ktpa Moderate CuEq⁴ Manufacturing Charge: Together with 95 kt Cu and 48 koz Au all the way through number one manufacturing (first 14 years)
• Aggressive Price Place: Generation of mine (LOM) reasonable C1 Money Price⁵ of US$ 1.38/lb and All-in-Maintaining Price of US$1.85/lb (each estimated web of spinoff credit)
• Building up in Overall Copper and Gold Manufacturing: 1.5 Mt Cu (3.31 Blb Cu) and 780 koz Au produced over  the LOM
• Powerful Monetary Profile: Overall LOM isolated money current of roughly US$3.86 Billion (post-tax, later running prices, capital prices, and royalties)
• Vital Possibility Aid: PFS ready assuming ± 25% accuracy. An supplementary US$442 million of capital prices carried out to seriously let go key disciplines of possibility, together with adjustments in venture scope and inflationary pressures

Robust Economics and Leverage to Emerging Copper Value

• Submit-tax Web Provide Worth (NPV8%) of US$1.2 billion (roughly, inside a area of US$786 million to US$1.62 Billion) and post-tax Inner Charge of Go back (IRR) of nineteen% (roughly, inside a area of 15% to 22%)
• First Quartile Capital Depth: Get started-up Capital Price of US$ 1.27 billion delivers a capital depth of US$ 14,079/t of reasonable annual CuEq. steel produced
• Extremely Leveraged to Copper Value: At stream spot copper value of US$5.30/lb⁶, post-tax NPV8% will increase to US$2.2 billion and post-tax IRR to 30%, respectively

Low-Possibility, Coastal Copper Construction with Complex Allowing

• Low Elevation and Over a Decade of Allowing Progress: Certainly one of just a few world copper construction initiatives at low elevation with a H2O allow, and grid energy
• Making ready to put up Environmental Have an effect on Review (EIA): Costa Fuego Degree-1 (EIA-1) in response to stream PFS-scale and definition

Maiden Mineral Store for Costa Fuego Lowers Operational Possibility ^1,2

• Possible Mineral Reserves of 502 Mt at 0.37% Cu, 0.10 g/t Au, 0.49 g/t Ag and 97 ppm Mo:  Throughout sulphide concentrator, oxide leach and low-grade sulphide leach processing streams

Eager for Up-Scale Alternative

• Los angeles Verde Cu-Au Porphyry Discovery Provides Enlargement Engine: Primary discovery showed (the following announcement dated February 11, 2025) and offering a powerful platform for vital attainable front-end i’m free pit mine existence enlargement
• 2d EIA commenced: Integrating Los angeles Verde into the Costa Fuego Degree-2 (EIA-2) copper manufacturing hub revolutionary action to materially beef up venture economics forward completion of a deliberate Definitive Feasibility Find out about

Sizzling Chili’s Managing Director Mr. Christian Easterday commented, 

“We’re more than happy in order our PFS for Costa Fuego on-time and inside steerage.

The find out about supplies a powerful foundation for our ultimate degree of construction and parks Costa Fuego inside an elite grouping of copper traits globally.

With each copper and gold costs at report highs, our PFS has demonstrated two of essentially the most essential elements in assessing the possibility of significant, near-term copper provide – lead quartile manufacturing capability and lowest quartile capital depth.

Importantly, exploration luck at our not too long ago showed Los angeles Verde Cu-Au porphyry discovery represents a extremely potential additional enlargement alternative for Sizzling Chili.

Our after steps for Costa Fuego are two-pronged:

1. fast acceleration of drilling and environmental process at Los angeles Verde to put foundations for integrating subject material useful resource and mine existence enlargement, and
2. graduation of a Definitive Feasibility Find out about and submission of our stage-1 EIA to accumulation the venture on-track for first manufacturing earlier than the tip of the last decade.

With money of roughly A$19 million as at 31^st December 2024 and either one of our key property (Costa Fuego and Huasco Aqua) at PFS degree find out about, we’re smartly situated to pursue attainable strategic partnership and sponsorship investment discussions.

We look ahead to offering additional updates on drilling (Los angeles Verde) and construction (Huasco Aqua) actions, along with additional adjustments to our Board of Administrators and Control crew which attempt to additional reinforce {our capability} at this essential inflexion level within the Corporate’s historical past“.

     Pre-Feasibility Find out about Evaluate

The Costa Fuego PFS outlines a copper-gold venture handing over an annual copper equal steel manufacturing profile of 90 kt for the 20-year processing existence (together with over 116 kt for the primary 14 years). Undertaking economics are strongly leveraged to additional useful resource enlargement and copper value awe.

The Costa Fuego Undertaking combines 4 mineral deposits inside 3 discrete mining disciplines comprising porphyry-hosted copper-gold-molybdenum, iron-oxide copper-gold-molybdenum and high-grade skarn-hosted copper mineralisations. The stream Mineral Useful resource for Costa Fuego with an efficient hour of February 26, 2024 is reported as 2.76 Mt of contained copper¹ and all mining disciplines are contained inside a decent 20 km radius. Costa Fuego advantages from a beneficial elevation at 740 m above sea degree, is proximal to port amenities (~60 km) and has get admission to to present infrastructure.

The Costa Fuego Undertaking’s proximity to the regional centre and capital of the Huasco Province, Vallenar (people 52 000), guarantees that an skilled and succesful native personnel could be to be had, and refuse camp form could be required.

     Mining and Processing

Mining of oxide and sulphide processing feed utilises each open-pit and underground (restrain cave) bulk mining methodologies. Early mining is targeted on the Productora open-pit, the place high-grade, near-surface feed is front-ended to assistance within the payback of building capital and to treasure construction of the underground restrain cave at Cortadera.

Processing plant feed is mined at reasonably cheap because of aggressive ore to misspend strip ratios (1:1.5 for the i’m free pits).

Copper in sulphide is predominantly chalcopyrite-hosted, gladly recovered by means of a standard crush-grind-float technique to form a blank, marketable pay attention with very low ranges of deleterious components. Considerable credit score is added with the presence of gold and silver in copper pay attention, in addition to a independent molybdenum pay attention.

The sulphide concentrator, situated close to the Productora-Alice mining segment, is designed for a nominal throughput of 20.7 Mtpa and in a position to averaging 21.7 Mtpa around the venture existence.

Oxide and low-grade sulphide ore is processed on heap and dump-leach amenities at Productora, respectively, with testwork confirming robust healings the use of a hyperchloride leach resolution. Copper is extracted from resolution via an SX-EW plant. The heap leach abode is designed to simply accept 4 Mtpa, with the SX-EW facility generating a most of 12 ktpa of copper cathode.

     Allowing and Stakeholder Engagement

Environmental surveys and alternative research required for venture allowing are smartly complicated, with submission of an environmental affect review for the Costa Fuego Undertaking deliberate for 2025.

     Enlargement and Alternative

Vital alternative nonetheless exists so as to add to the Costa Fuego Undertaking, with the hot discovery of copper-gold porphyry mineralisation at Los angeles Verde situated 50 km by means of highway from the processing facility at Productora. Spare enlargement alternatives are being investigated on the not too long ago consolidated Domeyko tenement bundle, with grassland reconnaissance finished at plenty of precedence objectives.

Prime-value construction optimisations are nonetheless being investigated throughout mining and processing, together with a possibility to monetise cobalt and build up total copper and gold medication via inclusion of a pyrite pay attention circuit, and the investigation of a unmarried open-pit situation at Cortadera getting rid of the requirement for the underground restrain cave.

     Mineral Useful resource Estimate

The Costa Fuego Mineral Useful resource ( “MRE” ) is reported in keeping with the Joint Ore Reserves Committee Code (2012) and the Canadian Institute of Mining, Metallurgy and Petroleum ( “CIM” ) Requirements on Mineral Sources and Reserves, Definitions and Tips ready by means of the CIM Status Committee on Store Definition, as required by means of NI 43-101.

Indicated Mineral Sources for the Costa Fuego Undertaking overall 798 Mt @ 0.45% CuEq¹ (0.37% Cu, 0.10 g/t Au, 0.50 g/t Ag, and 85 ppm Mo)¹. The MRE has an efficient hour of February 26, 2024, and was once reported inside i’m free pit and restrain cave shapes generated making an allowance for cheap probability of eventual financial extraction ( “RPEEE” ).

Drilling throughout Costa Fuego has been finished over 15 years, starting with Productora and Alice in 2010, adopted by means of San Antonio in 2018 and next Cortadera in 2019. The Costa Fuego MRE are knowledgeable by means of roughly 76 400 m of diamond drilling and 284 000 m of opposite movement drilling around the 4 mineral deposits.

Estimation of the primary grade variables (copper, gold, silver, and molybdenum) was once finished the use of specific indicator kriging, common restrain kriging and inverse distance interpolation inside both manually interpreted mineralisation domain names or software-guided grade interpolants, and from time to time a mix of each methodologies. Mineral Sources have been categorised as both Indicated or Inferred, in response to a area of standards, together with however now not restricted to, geological and grade perpetuity between drill holes, drill hollow spacing, mineralisation kind, and knowledge component.

     Mineral Store Estimate

The Costa Fuego Undertaking at PFS degree envisages typical i’m free pit, truck and shovel operation from 4 mineral deposits (Alice, Cortadera, Productora, and San Antonio) and underground restrain caving from a unmarried mine segment (Cortadera, under Cuerpo 3 i’m free pit). Ore could be processed both by the use of heap leach (oxide most effective), concentrator (transitional and unused most effective), or low-grade sell off leach (all subject material classifications).

The Possible Mineral Store is in response to Indicated Mineral Sources inside useful resource restrain fashions regularised to 5 m * x 10 m (y) x 5 m (z). Best Indicated blocks had been thought to be for the Mineral Store, with steel grades for Inferred Useful resource blocks coded to 0 earlier than the primary degree of fashion optimisation.

Dilution and ore loss is captured inside the mineral useful resource restrain fashion because of regularisation to the singular mining unit ( “SMU” ). This is regarded as suitable for the large-scale mineralised methods that contain nearly all of the Costa Fuego Mineral Store.

Mineral Store analysis was once finished the use of a sequence of i’m free pit optimisation created the use of Web Smelter Go back ( “NSR” ) cut-offs that have been due to this fact engineered into mining design phases.

     Nationwide tool 43-101

An distant technical file for the PFS, ready in keeping with NI 43-101 will likely be to be had underneath the Corporate’s SEDAR profile and web site inside the after 45 days.

     Certified Individuals

The PFS was once compiled by means of Log Australia Pty Ltd with contributions from a staff of distant Certified Individuals inside the which means of NI 43 -101. The clinical and technical data contained on this information let go touching on Costa Fuego has been reviewed and verified by means of refer to distant certified individuals inside the which means of NI 43-101:

• Ms Elizabeth Haren (FAUSIMM (CP) & MAIG) of Haren Consulting – Mineral Useful resource Estimate
• Mr Dean David (FAUSIMM (CP)) of Log Pty Ltd – Metallurgy
• Mr Piers Wendlandt (PE) of Log Pty Ltd – Marketplace Research and Assurances, Financial Research
• Mr David Cuello (MAUSIMM) of GMT Servicios de Ingeniería – Geotechnical
• Mr Jeffrey Stevens (Pr. Eng, MSAIMM) of Log Pty Ltd – Infrastructure and Capital Price
• Mr Luis Bernal (Comisión Minera (PC) Registered Member) of Procedure Mineral Consulting – Leaching
• Mr Anton von Wielligh (FAUSIMM) of ABGM Consulting Pty Ltd – Mine Making plans and Scheduling
• Mr Edmundo LaPorte (PE, PEng, CPEng, SME Registered Member) of Prime River Products and services – Environmental
• The above distant Certified Individuals have verified the guidelines disclosed herein, together with the sampling, preparation, safety, and analytical procedures underlying such data.

A company presentation outlining the result of the PFS is being filed similtaneously with this information let go.

The Corporate will likely be internet hosting webinars on Monday 31^st March 10.00 am EST (for North American target market) to transient shareholders and buyers at the results of the Costa Fuego and Huasco Aqua PFS.

Sizzling Chili’s Important Govt Officer Christian Easterday, Govt Vice President Jose Ignacio Silva, Important Running Officer Handover King and Important Monetary Officer Ryan Finkelstein will likely be internet hosting the decision, which may even come with a Q&A consultation.

Please see hyperlinks will grant get admission to to the Costa Fuego investor briefing webinar:

Register Here for North American Webinar

Monday 31^st March at 10.00 am EST

Then registering, you’ll obtain a affirmation e mail containing details about becoming a member of the webinar.

This announcement is approved by means of the Board of Administrators for let go to ASX and TSXV.

Sizzling Chili’s Managing Director and Important Govt Officer Mr Christian Easterday is accountable for this announcement and has supplied sign-off for let go to the ASX and TSXV.

For more info please touch:

or discuss with Sizzling Chili’s web site at www.hotchili.net.au

SOURCE Sizzling Chili Restricted