Hot Chili Adds Mine Build Credentials with Appointment of New Chair and Project Director

Hot Chili Limited (HHLKF) has strengthened its leadership team with two significant appointments ahead of its Definitive Feasibility Studies for the Costa Fuego copper-gold project and Huasco Water project in Chile.

Rhea-AI Summary

Hot Chili Limited (HHLKF) has strengthened its leadership team with two significant appointments ahead of its Definitive Feasibility Studies for the Costa Fuego copper-gold project and Huasco Water project in Chile. Stuart Mathews, former Gold Fields executive vice president, joins as Non-executive Chair, bringing over 32 years of international mining experience and a track record of delivering five mining projects from exploration to operations. Alberto Cerda, a Chilean mining engineer with 40+ years of experience, has been appointed as Project Director, having previously led major mining projects including Los Pelambres, Antamina, and the Norte Abierto Joint Venture for Newmont and Barrick.

Positive

• Appointment of Stuart Mathews brings extensive experience in project development and operations management, including delivery of 5 mining projects
• Alberto Cerda brings 40+ years of experience in Chilean mining industry and major project development
• Both appointments strengthen company's capabilities ahead of Definitive Feasibility Studies for Costa Fuego and Huasco Water projects

Negative

• None.

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PERTH, Australia , May 7, 2025 /PRNewswire/ - Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili" or the "Company") is pleased to announce the appointment of two highly regarded and experienced mining executives to the Company's Board and executive management group.

High profile Australian mining executive and former Gold Fields executive vice president Mr Stuart Mathews has been appointed to the Board of Directors in the role of Non-executive Chair. In addition, well regarded Chilean mining executive and project director for several of Chile's largest mine developments, Mr Alberto Cerda, has been appointed to the executive role of Project Director.

Both appointments significantly strengthen the Company's experience and capabilities ahead of the commencement of Definitive Feasibility Studies for its Costa Fuego copper-gold project and Huasco Water project, located at low elevation along the coastal range of Chile.

Mr Stuart Mathews – Non-Executive Chair of Hot Chili

Stuart Mathews is an international mining professional with more than 32 years' experience working across Australia, Mexico and New Zealand.

After graduating with a Master of Science (Geology) from University of Canterbury, New Zealand, Stuart rapidly progressed through geology ranks to Geology Manager level before spending 15 years in project development and general operations management, including the past five years as a C-level executive.

Stuart joined Gold Fields in mid-2013 initially at St Ives, before being appointed General Manager at the Granny Smith Mine, and then Vice President Operations - Australia.

In February 2017 Stuart took over the position of Executive Vice President - Australasia and was also appointed to the executive committee of Gold Fields International.

His role involved managing Gold Fields' regional mining portfolio that delivered +1m oz of gold per annum as well as leading strategic growth in Australia and greater Gold Fields globally.

During his career he has delivered five mining projects from exploration through development to full operations.

Mr Alberto Cerda – Project Director

Alberto Cerda is a Chilean mining engineer and professional with over 40 years' experience working in the Chilean and international mining industry.

Alberto's experience spans oversight of mining reserves and mine production across underground and open pit mining operations, metallurgical processes, metal marketing, corporate governance and business operations across large organisations including Newmont, Barrick, Antofagasta Minerals, Glencore, BHP Billiton and CODELCO.

Over the past 30 years, Alberto has acted in Mine Manager, General Manager and Project Director roles across both greenfield and brownfield mining projects from conceptual stage to development, execution and operation including Los Pelambres, Lomas Bayas, Antamina, Collahuasi, Spence, Cerro Colorado and El Indio.

Over the past five years, Alberto led the Norte Abierto Joint Venture as Project Director for Newmont and Barrick in developing the neighbouring Cerro Casale and Caspiche gold-copper deposits in northern Chile.

The Company welcomes these two key appointments at an important inflexion point in the Company's growth and looks forward to Stuart and Alberto's contribution and stewardship of Hot Chili's final stages of investment to deliver a new mid-tier copper-gold producer.

Further updates are expected.

This announcement was approved and authorised for release by the Board of Hot Chili.

For further 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

Qualifying Statements

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 release.

View original content:https://www.prnewswire.com/news-releases/hot-chili-adds-mine-build-credentials-with-appointment-of-new-chair-and-project-director-302448027.html

SOURCE Hot Chili Limited

FAQ

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Who are the new executives appointed at Hot Chili Limited (HHLKF)?

Hot Chili appointed Stuart Mathews as Non-executive Chair and Alberto Cerda as Project Director. Mathews is a former Gold Fields executive VP with 32 years of mining experience, while Cerda is a Chilean mining engineer with 40+ years of experience.

What experience does Stuart Mathews bring to Hot Chili (HHLKF)?

Stuart Mathews brings over 32 years of international mining experience, including roles as Executive VP at Gold Fields, managing a portfolio delivering +1M oz of gold annually, and successfully delivering five mining projects from exploration through development to operations.

What is Alberto Cerda's background and role at Hot Chili (HHLKF)?

Alberto Cerda, appointed as Project Director, is a Chilean mining engineer with 40+ years experience, having worked with companies like Newmont, Barrick, and BHP. He previously led major projects including Los Pelambres, Antamina, and the Norte Abierto Joint Venture.

Why did Hot Chili (HHLKF) make these new appointments?

The appointments were made to strengthen the company's experience and capabilities ahead of commencing Definitive Feasibility Studies for its Costa Fuego copper-gold project and Huasco Water project in Chile.