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Hot Chili Ltd

La Verde Delivers Another Strong Copper-Gold Drill Result 391 m grading 0.51% CuEq from Surface

Diamond Drill Rig 11 and Reverse Circulation Drill Rig 12 operating at La Verde

Highlights

  • Latest assay results have returned grades well above visual expectation in diamond drill hole DKD044, adding to La Verde's rise as one of Chile's most significant new coastal copper-gold (Cu-Au) porphyry discoveries
  • DKD044 recorded 391.1 m grading 0.51% CuEq1 (0.42% Cu, 0.11 g/t Au) from surface, including:
    • 17.8 m grading 0.68% CuEq (0.63% Cu, 0.06 g/t Au) from surface
    • 40.7 m grading 0.60% CuEq (0.50% Cu, 0.12 g/t Au) from 103.3 m
    • 85.4 m grading 0.61% CuEq (0.50% Cu, 0.15 g/t Au) from 160 m
    • 19.7 m grading 0.70% CuEq (0.57% Cu, 0.15g/t Au) from 276.1 m
  • These results continue to demonstrate strong continuity of shallow, higher grade, copper-gold mineralisation, underpinning a growing high-grade starter pit opportunity for the Company's Costa Fuego Cu-Au project
  • Assay results are pending for 22 drill holes (six diamond and 16 reverse circulation) including DKD049, DKP052, DKP053 and DKP054 which are expected to confirm significant extensions to La Verde's high-grade core2
  • Second ISO-accredited laboratory engaged to assist in accelerating assay result turnaround times

_____________________________________________________

1 Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz. The entirety of the intersection is assumed as fresh.  The recovery and copper equivalent formula for La Verde uses Cortadera as a proxy, which is considered reasonable given both the similar mineralisation style and amenability testwork completed thus far at La Verde – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu (%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t).


2 See announcement 'Latest Drilling Lifts Growth Potential of La Verde's High-Grade Copper-Gold Core', dated 5 May 2026

PERTH, Australia , June 16, 2026 /CNW/ - Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili" or the "Company") is pleased to provide further positive drilling results from its La Verde Cu-Au porphyry discovery (La Verde), located 30 km south of the Company's Costa Fuego Cu-Au Project (Costa Fuego) planned central processing hub in Chile's coastal Atacama region.

Latest Results from DKD044 Exceed Expectation

Diamond drill hole DKD044 was collared on the western side of La Verde's high-grade core (Figure 2) and was designed to test continuity of broad high-grade mineralisation reported by diamond drillhole DKD039, which recorded 725m grading 0.42% CuEq from 18 m depth including 62 m grading 1.03% CuEq (0.90% Cu, 0.18 g/t Au) from 671 m depth (see announcement dated 8 April 2026).  Assay results returned so far have recorded a strong drill intersection of 391.1 m grading 0.51% CuEq1 (0.42% Cu, 0.11 g/t Au) from surface, including:

  • 17.8 m grading 0.68% CuEq (0.63% Cu, 0.06 g/t Au) from surface
  • 40.7 m grading 0.60% CuEq (0.50% Cu, 0.12 g/t Au) from 103.3 m
  • 85.4 m grading 0.61% CuEq (0.50% Cu, 0.15 g/t Au) from 160 m
  • 19.7 m grading 0.70% CuEq (0.57% Cu, 0.15g/t Au) from 276.1 m

Mineralisation was intersected from surface, further supporting the potential for La Verde to deliver a significant high-grade starter pit opportunity for Costa Fuego.

Assay results for DKD044 have been returned up to 493.7 m depth so far.  Assay results up to end-of-hole (493.7 m to 711.4 m) remain outstanding and are expected to be returned in the coming weeks.

Importantly, DKD044 is located approximately 150 m west of step-out diamond drill hole DKD049 (Figure 3), which visually1 recorded a 180 m zone of strong chalcopyrite-rich, porphyry-style copper mineralisation from 536.7 m depth (see announcement dated 5 May 2026 and Table 2). This drilling indicates potential for the high-grade core to widen between DKD044 and DKD049.  Assay results for DKD049 are also expected to be returned in the coming weeks.

Further Assays Confirm Shallow, Bulk Tonnage Continuity

Additional results returned for DKD042 and DKP041 have continued to confirm and expand near-surface, bulk tonnage mineralisation as resource definition drilling continues at La Verde.

Diamond drill hole DKD042 (Figure 4), collared on the western flank of the deposit, has confirmed extension of the high-grade core 125 m further west:

  • Recording 96.4 m grading 0.40% CuEq (0.31% Cu, 0.12 g/t Au) from 11.6 m depth
    • including 11.9 m grading 0.51% CuEq (0.41% Cu, 0.13 g/t Au) from 13.6 m 
    • and including 22.4 m grading 0.62% CuEq (0.46% Cu, 0.21 g/t Au) from 84.2 m

Reverse Circulation drill hole DKP041, an infill hole, has confirmed expansion and continuity of mineralisation across this zone (Figure 5).

  • Recording 224 m grading 0.40% CuEq (0.30% Cu, 0.10 g/t Au) from 92 m depth
    • including 24 m grading 0.60% CuEq (0.49% Cu, 0.15 g/t Au) from 112 m depth
    • including 46 m grading 0.50% CuEq (0.38% Cu, 0.14 g/t Au) from 216 m depth


1 Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. Assay results are pending and will be reported in accordance with the JORC Code (2012) and National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Sampling methodologies are described in the attached JORC Table 1.

 

Additional ISO Accredited Assay Laboratory Engaged 

Since March, delivery of assay results has increased to over 10 weeks in some cases. Hot Chili has taken proactive measures and engaged the services of an additional ISO accredited laboratory in the region, to ensure reporting of outstanding assay results is fast tracked and assay turnaround times are accelerated.

Drilling Operations Accelerating

Three drill rigs are in operation at La Verde, and the Company expects to continue delivering strong news flow from drill results, ahead of a maiden Mineral Resource for La Verde and a revised Pre-feasibility for Hot Chili's Costa Fuego Cu-Au Project. 

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

For more information please contact:

Christian Easterday

Managing Director & CEO – Hot Chili

 

Tel:       +61 8 9315 9009

Email:   admin@hotchili.net.au

Carol Marinkovich

Company Secretary – Hot Chili

 

Tel:       +61 8 9315 9009

Email:   cosec@hotchili.net.au

Graham Farrell

Investor & Public Relations

Email:   graham@hotchili.net.au

or visit Hot Chili's website at www.hotchili.net.au

Figure 1. Location of La Verde in relation to Costa Fuego, coastal range Chile

1asl = above sea level

 

Table 1. New significant drilling intersections from La Verde

Hole ID

Coordinates

Azim

Dip

Hole
Depth

Intersection

Interval

Copper Eq1

Copper

Gold

Silver

Molyb.

North

East

RL

From

To

(m)

(% CuEq)

(% Cu)

(g/t Au)

(ppm Ag)

(ppm Mo)

DKP041

6785786

324561

1124

55

-70

380

92.0

316.0

224.0

0.40

0.31

0.10

0.64

24







Incl

112.0

136.0

24.0

0.60

0.49

0.15

0.65

14







& Incl

216.0

262.0

46.0

0.50

0.38

0.14

0.64

44







& Incl

92.0

316.0

224.0

0.40

0.31

0.10

0.64

24

DKD042

6785902

324635

1140

300

-70

258.1

11.6

108.0

96.4

0.40

0.31

0.12

0.79

9







Incl

13.6

25.5

11.9

0.51

0.41

0.13

0.59

8







& Incl

56.4

72.8

16.5

0.45

0.34

0.15

0.51

9







& Incl

84.2

106.6

22.4

0.62

0.46

0.21

2.00

13

DKD044

6785738

324508

1131

70

-65

711.4

0.0

391.3

391.3

0.50

0.42

0.11

0.85

18







Incl

0.0

17.8

17.8

0.68

0.63

0.06

0.70

10







& Incl

103.3

144.0

40.7

0.60

0.50

0.12

0.86

20







& Incl

160.0

245.4

85.4

0.61

0.50

0.15

1.11

12







& Incl

276.1

295.8

19.7

0.70

0.57

0.15

1.06

33








493.7

711.4

217.7

Assays pending


Notes to Table 1: Significant intercepts for La Verde are reported above a nominal cut-off grade of 0.20% Cu. Reported intersections may include internal dilution (intervals below 0.20% Cu), including zones exceeding 30 m downhole width, where the overall weighted average grade of the intersection remains above the cut-off grade. Significant intersections are separated where zones of internal dilution result in discrete intervals that do not meet the reporting criteria. The selection of a 0.20% Cu cut-off grade is aligned with a marginal economic cut-off for bulk tonnage polymetallic copper deposits of comparable grade in Chile and globally.

 

 1 Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz. The entirety of the intersection is assumed as fresh.  The recovery and copper equivalent formula for La Verde uses Cortadera as a proxy, which is considered reasonable given both the similar mineralisation style and amenability testwork completed thus far at La Verde – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu(%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t).

 

Table 2. Mineral abundance details for DKD049

Hole ID

From
(m)

To
(m)

Mineral

Description (Mineralisation Mode)

Expected
Release
of
Results

 

 

 

DKD049

536.7

539

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

 

 

 

June 2026

539

541

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

541

543

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

543

554

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

554

561.5

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

561.5

564.1

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

564.1

569

cp / py / mo

Disseminated and vein hosted cp/py/mo in early mineral porphyry

569

574.6

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

574.6

581

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

581

582.5

cp / py

Vein hosted cp/ py in early mineral porphyry

582.5

583.1

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

583.1

587

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

587

588

cp / py / mo

Vein hosted cp/py/mo in early mineral porphyry

588

590.3

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

590.3

593.3

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

593.3

594.5

cp / py

Vein hosted cp/ py in early mineral porphyry

594.5

600.5

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

600.5

605

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

605

612.4

cp / py

Vein hosted cp/ py in early mineral porphyry

612.4

617.2

cp / py

Disseminated and vein hosted cp/py in early mineral porphyry

617.2

621

cp / py

Altered wallrock with disseminated and vein hosted cp/py

621

623.5

cp / py

Altered wallrock with disseminated and vein hosted cp/py

623.5

625.5

cp / py

Altered wallrock with disseminated and vein hosted cp/py

625.5

626

cp / py

Altered wallrock with disseminated and vein hosted cp/py

626

628.8

cp / py

Altered wallrock with disseminated and vein hosted cp/py

628.8

634

cp / py

Altered wallrock with disseminated and vein hosted cp/py

634

636.5

cp / py

Altered wallrock with disseminated and vein hosted cp/py

636.5

637.7

cp / py

Altered wallrock with disseminated and vein hosted cp/py

637.7

639.8

cp / py

Altered wallrock and intra mineral porphyry with disseminated

and vein hosted cp/py

639.8

645.8

cp / py

Altered wallrock with disseminated and vein hosted cp/py

645.8

647

cp / py

Disseminated and vein-hosted cp/py in intramineral porphyry

647

648.9

cp / py

Disseminated and vein-hosted cp/py in intramineral porphyry

648.9

652

cp / py / mo

Disseminated and vein-hosted cp/py/mo in intramineral porphyry

652

654

cp / py

Disseminated and vein-hosted cp/py/ mo in intramineral porphyry

654

661.7

cp / py

Altered wallrock with disseminated cp/py

661.7

668.7

cp / py

Disseminated and vein-hosted cp/py in intramineral porphyry

668.7

669

cp / py

Disseminated cp/ py in late mineral porphyry

672

674.8

cp / py

Disseminated cp/ py in late mineral porphyry

674.8

681

cp / py

Disseminated and vein-hosted cp/py in intramineral porphyry

681

684

cp / py

Disseminated and vein-hosted cp/py in intramineral porphyry

684

687

cp / py

Disseminated and vein-hosted cp/py in intramineral porphyry

687

689

cp / py

Altered wallrock and intra mineral porphyry with disseminated

and vein hosted cp/py

689

691

cp / py

Disseminated and vein-hosted cp/py in intramineral porphyry

691

692.4

cp / py

Disseminated and vein-hosted cp/py in intramineral porphyry

692.4

694

cp / py

Disseminated and vein-hosted cp/py in intramineral porphyry

694

696

cp / py

Disseminated and vein-hosted cp/py in intramineral porphyry

696

698

cp / py / mo

Disseminated and vein-hosted cp/py/mo in intramineral porphyry

698

700

cp / py

Disseminated and vein-hosted cp/py in intramineral porphyry

700

702

cp / py

Disseminated and vein-hosted cp/py in lstage stage breccia

containing clasts of intra mineral porphyry

702

705

cp / py

Disseminated and vein-hosted cp/py in intramineral porphyry

705

710.1

cp / py

Disseminated and vein-hosted cp/py in intramineral porphyry

710.1

714.5

cp / py

Disseminated cp/py in late-stage breccia containing clasts of

altered wall rock

714.5

716

cp / py

Disseminated cp/py in late mineral porphyry

 

Figure 2. Plan view map of La Verde showing recent drill hole results DKD044, DKD042 and DKP041 and updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Drilled holes with pending assays are shown in black. Position of A – A’ cross section (Figure 3) annotated with white dashed lines. Conceptual open pit shells1 displayed for $US3.50/lb Cu (blue) and $US6.00/lb Cu (green) displayed as dashed lines. Results reported including CuEq2.

 

Legend for Figure 2

 

1 See Page 10 of this announcement for detail on the US$3.50 Cu and US$6.00 Cu conceptual open pit shells (Exploration Targets). Any potential tonnage and grade of the Exploration Target shown is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource within the target area, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

 

2 Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz. The entirety of the intersection is assumed as fresh.  The recovery and copper equivalent formula for La Verde uses Cortadera as a proxy, which is considered reasonable given both the similar mineralisation style and amenability testwork completed thus far at La Verde – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu (%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t).

 

Figure 3. Cross section slice along DKD044 (± 75m clipping) showing +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants and returned assay results for DKD044. Visual estimate1 for DKD049 also shown. Returned Cu grades shown on hole traces. Conceptual open pit shells2 displayed for $US6.00/lb Cu (dashed line) displayed. Results reported including CuEq3

 

1 Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. Assay results are pending and will be reported in accordance with the JORC Code (2012) and National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Sampling methodologies are described in the attached JORC Table 1.

 

2 See Page 10 of this announcement for detail on the US$3.50 Cu and US$6.00 Cu conceptual open pit shells (Exploration Targets). Any potential tonnage and grade of the Exploration Target shown is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource within the target area, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

 

3 Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz. The entirety of the intersection is assumed as fresh.  The recovery and copper equivalent formula for La Verde uses Cortadera as a proxy, which is considered reasonable given both the similar mineralisation style and amenability testwork completed thus far at La Verde – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu(%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t).

 

Figure 4. Zoomed plan view map of La Verde showing recent drill hole results DKD044, DKD042 and DKP041, returned Cu grades shown on hole traces. Drilled holes with pending assays are shown in black.

 

Qualifying Statements

Conceptual Open Pit Shells

Conceptual open pit shells represent Exploration Targets as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code). They are based on completed exploration activities reported in the announcement released 19 May 2025 ('Hot Chili Announces Latest Drill Results for La Verde, Doubling Porphyry Discovery Footprint').

The conceptual open pit shells were generated using copper (Cu) prices of US$3.50/lb Cu and US$6.00/lb Cu on a series of nested Cu grade shells. Other input parameters informing the conceptual open-pit shells (pit slope angles, mining cost, processing cost, etc.) were derived from values reported in the March 2025 Costa Fuego Pre-feasibility Study and are considered appropriate for the style of mineralisation encountered at the La Verde Cu-Au porphyry discovery.

Any potential quantity and grade of the Exploration Target shown is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource within the target area, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Further exploration activities are detailed in this announcement and include (but may not necessarily be limited to) a program of diamond drillholes aiming to extend the mineralised footprint at La Verde. Drilling commenced on 22 September 2025, with the length of the program dependent on a number of considerations including (but not limited to) the results of the exploration activities and regulatory applications and approvals.

Qualified Person – NI 43-101

The technical information in this announcement has been reviewed and approved by Mr. Christian Easterday, MAIG, Hot Chili's Managing Director and a qualified person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. For further information, please refer to the Company's technical report titled "Costa Fuego Project, NI 43-101 Technical Report Preliminary Feasibility Study", with an effective date of 27 March 2025, a copy of which is available for review under the Company's issuer profile on SEDAR+ (www.sedarplus.ca).

Competent Person – JORC

The information in this announcement that relates to Exploration Results and Exploration Targets for the La Verde project is based upon information compiled by Mr Christian Easterday, the Managing Director and a full-time employee of Hot Chili Limited, who is a Member of the Australasian Institute of Geoscientists (AIG). Mr Easterday has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking to qualify as a 'Competent Person' as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code). Mr Easterday consents to the inclusion in this announcement of the matters based on their information in the form and context in which it appears.

The information in this announcement relating to previously reported Exploration Results for La Verde was previously reported in the Company's announcements 'Hot Chili Confirms Major Cu-Au Porphyry Discovery at La Verde', 'Hot Chili Announces Latest Drill Results for La Verde, Doubling Porphyry Discovery Footprint', 'District-Scale Porphyry Cluster Potential Emerging at La Verde Cu-Au Discovery', 'First Diamond Drillhole Confirms Gold-Rich Major Copper Discovery in Coastal Chile', 'Near-Surface Higher-Grade Core Confirmed at La Verde', 'Rapid Growth of High Grade Core Continues at La Verde', 'Shallow High Grade Results Continue at La Verde', 'Hot Chili Confirms Major High-Grade Extension at La Verde' and "Latest Drilling Lifts HG Core Potential of La Verde" released to ASX on 26 February 2024, 19 May 2025, 29 May 2025, 27 November 2025, 10 December 2025, 20 January 2026, 16 February 2026, 8 April 2026 and 5 May, respectively, which are available to view on the Company's website at www.hotchili.net.au/investors/investor-centre/market-announcements. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements.

Disclaimer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this announcement.

Forward Looking Statements

This announcement contains certain statements that are "forward-looking information" within the meaning of Canadian securities legislation and Australian securities legislation (each, a "forward-looking statement"). Forward-looking statements reflect the Company's current expectations, forecasts, and projections with respect to future events, many of which are beyond the Company's control, and are based on certain assumptions. No assurance can be given that these expectations, forecasts, or projections will prove to be correct, and such forward-looking statements included in this announcement should not be unduly relied upon. Forward-looking information is by its nature prospective and requires the Company to make certain assumptions and is subject to inherent risks and uncertainties. All statements other than statements of historical fact are forward-looking statements. The use of any of the words "estimate", "expansion", "expectations", likely", "may", "plan", "potential", "project", "reinforce", "large-scale", "could", "should", "will", "would", variants of these words and similar expressions are intended to identify forward-looking statements.

The forward-looking statements within this announcement are based on information currently available and what management believes are reasonable assumptions. Forward-looking statements speak only as of the date of this announcement.

In this announcement, forward-looking statements relate, among other things, to: the potential of the La Verde discovery; regulatory applications and approvals; the timing and results of future economic studies; and the Company's future exploration and other business plans.

Forward-looking statements involve known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. A number of factors could cause actual results to differ materially from a conclusion, forecast or projection contained in the forward-looking statements in this announcement, including, but not limited to, the following material factors: the ability of drilling and other exploration activities to accurately predict mineralisation; operational risks; risks related to the cost estimates of exploration; sovereign risks associated with the Company's operations in Chile; changes in estimates of mineral resources or mineral reserves of properties where the Company holds interests; recruiting qualified personnel and retaining key personnel; future financial needs and availability of adequate financing; fluctuations in mineral prices; market volatility; exchange rate fluctuations; ability to exploit successful discoveries; the production at or performance of properties where the Company holds interests; ability to retain title to mining concessions; environmental risks; financial failure or default of joint venture partners, contractors or service providers; competition risks; economic and market conditions; and other risks and uncertainties described elsewhere in this announcement and elsewhere in the Company's public disclosure record.

Although the forward-looking statements contained in this announcement are based upon assumptions which the Company believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this announcement, the Company has made assumptions regarding: future commodity prices and demand; availability of skilled labour; timing and amount of capital expenditures; future currency exchange and interest rates; the impact of increasing competition; general conditions in economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental agencies; future tax rates; future operating costs; availability of future sources of funding; ability to obtain financing; and assumptions underlying estimates related to adjusted funds from operations. The Company has included the above summary of assumptions and risks related to forward-looking information provided in this announcement to provide investors with a more complete perspective on the Company's future operations, and such information may not be appropriate for other purposes. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom.

For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made herein, please refer to the public disclosure record of the Company, including the Company's most recent Annual Report, which is available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. New factors emerge from time to time, and it is not possible for management to predict all those factors or to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement.

The forward-looking statements contained in this announcement are expressly qualified by the foregoing cautionary statements and are made as of the date of this announcement. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statement to reflect events or circumstances after the date of this announcement or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise. Investors should read this entire announcement and consult their own professional advisors to ascertain and assess the income tax and legal risks and other aspects of an investment in the Company.

 

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