Appointment of New Chairman

Hot Chili Limited (ASX: HCH) (TSXV:HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) announces
that Non-Executive Chairman Murray Black will be retiring from the Board of Hot Chili effective 1st
March 2022.

Experienced mining and global capital markets professional, Dr Nicole Adshead-Bell has been
appointed as the Company’s Independent, Non-Executive Chairman, following her earlier election
to the Board in January (see ASX and TSXV announcement dated 5th January 2022).

Murray has contributed significantly during his time as Chairman since founding Hot Chili in 2008 and
overseeing the Company’s transformation into a leading global copper developer. His exceptional
leadership has embedded a culture of excellence in Hot Chili. His willingness to support the Company
financially as its second largest shareholder, and the provision of dedicated drill services has facilitated
rapid resource growth and advancement of the Costa Fuego copper-gold project in Chile to the benefit of
all stakeholders.

Nicole’s appointment and endorsement by Murray reflects the Company’s next stage of growth as Hot Chili advances through final stages of development toward production.

“I am very proud of being part of the evolution of Hot Chili into a leading copper developer and look forward to continuing to support the Company in my capacity as a shareholder as it advances Costa Fuego. I am pleased the Board has appointed Nicole as my successor. Her combination of mining
and capital markets expertise is the right mix to grow the company going forward.

It has been an honour to serve as Chairman and I wish Nicole and Hot Chili every future success.”

Murray Black commented

“I am excited to have been appointed Chairman at a pivotal point in the evolution of Hot Chili. The Company is well positioned to contribute to the de-carbonisation super cycle given the paucity of new copper discoveries combined with a lack of near-term material copper development projects.

I firmly believe Hot Chili will appeal to a broad range of investors as it leverages off its recent Canadian listing. Particularly as there are few companies with Hot Chili’s combination of commodity mix, project size, project quality, low economic hurdle, location and fit for purpose leadership team.

I would like to thank Murray for his leadership over the last 12 years and look forward to working with Christian, the rest of the Hot Chili Board and the Company’s high calibre management team as we continue to advance Costa Fuego.”

Nicole Adshead-Bell commented

The Directors, management and staff of Hot Chili would like to thank Murray for his tireless commitment to Hot Chili and wish him all the best in his future endeavours.

This announcement is authorised by the Board of Directors for release to ASX and TSXV.
For more information please contact:

or visit Hot Chili’s website at

Qualifying Statements

Forward Looking Statements

This Announcement is provided on the basis that neither the Company nor its representatives make any warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the Announcement and nothing contained in the Announcement is, or may be relied upon as a promise, representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties that can be excluded by law. The Announcement contains material which is predictive in nature and may be affected by inaccurate assumptions or by known and unknown risks and uncertainties and may differ materially from results ultimately achieved.

The Announcement contains “forward-looking statements”. All statements other than those of historical facts included in the Announcement are forward-looking statements including estimates of Mineral Resources. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, copper, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statement” to reflect events or circumstances after the date of
the Announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. All persons should consider seeking appropriate professional advice in reviewing the Announcement and all other information with respect to the Company and evaluating the business, financial performance and operations of the Company. Neither the provision of the Announcement nor any information contained in the Announcement or subsequently communicated to any person in connection with the Announcement is, or should be taken as, constituting the giving of investment advice to any per


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 news release

To access the announcement please click on the link below:

Higher Grade Core Confirmed at Cortadera