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 a National Instrument 43-101 technical report for its Costa Fuego copper-gold project in Chile.

The report titled "Costa Fuego Copper Project NI 43-101 Technical Report Mineral Resource Estimate Update" and dated April 2024 with an effective date of February 26, 2024 (the "Technical Report"), was prepared pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). It is available for review on both SEDAR+ (www.sedarplus.ca) and the Company's website (www.hotchili.net.au).

The Technical Report supports the news release dated 26 February 2024 announcing the Costa Fuego Copper-Gold Project Mineral Resource Update. This release is also available on SEDAR+ and at the Company's website. There are no material differences between the Technical Report and the information disclosed in the news release dated 26 February 2024.

This announcement is authorised by the Board of Directors for release to ASX and TSXV.

Hot Chili's Managing Director and Chief Executive Officer Mr Christian Easterday is responsible for this announcement and has provided sign-off for release to the ASX and TSXV

Technical Information

Scientific and technical information in this Announcement has been reviewed and approved by Mr Christian Easterday, the Managing Director of Hot Chili Limited 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.

Christian Easterday Managing Director - Hot Chili Tel: +61 8 9315 9009 Email: admin@hotchili.net.au Penelope Beattie Company Secretary - Hot Chili Tel: +61 8 9315 9009 Email: admin@hotchili.net.au Harbor Access Investor & Public Relations Email: graham.farrell@harbor-access.com Email: jonathan.paterson@harbor-access.com or visit Hot Chili's website at www.hotchili.net.au