Copper

Forte Minerals Corp. (“Forte” or the “Company”) (CSE: CUAU) (OTQB: FOMNF) (Frankfurt: 2OA), is pleased to announce the appointment of Ms. Jasmine Lau, CPA, CA as Chief Financial Officer.

Ms. Lau has an extensive background in the resource section and has served as CFO of several public exploration companies with international projects. Ms. Lau previously worked at Teck Resources Ltd and Deloitte & Touche LLP’s Vancouver Assurance & Advisory group where she focused on audits of public mining companies. Ms. Lau holds a Bachelor of Commerce from the University of British Columbia.

Ms. Lau will be replacing Ms. Samantha Shorter who has served as Chief Financial Officer since August 2020. The Company extends its appreciation to Ms. Shorter for her dedication and contributions and wishes her well in her future endeavours.

ABOUT FORTE MINERALS CORP.

The Company is committed to maximizing shareholder value through acquiring, exploring, discovering, and developing copper and gold projects in Perú. Moving rapidly along the line of opportunity towards a value maxima is very attractive to investors. Significant value growth is generated when early-stage exploration moves towards resource definition while zoning in on target development and eliminating the early-stage grassroots risk. All three of Forte’s properties offer this opportunity, with tremendous upside considering their geological potential.

On behalf of FORTE MINERALS CORP.

(signed) “Patrick Elliott”
Chief Executive Officer

For further information, please contact:

Forte Minerals Corp.
office: 778-403-5807

info@forteminerals.com

www.forteminerals.com

Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.

Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Source

Click here to connect with Forte Minerals Corp. (“Forte” or the “Company”) (CSE: CUAU) (OTQB: FOMNF) (Frankfurt: 2OA), to receive an Investor Presentation

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Pucarini Regional Follow-up Program Yields

Pucarini Regional Follow-up Program Yields

Three New Low to High Sulphidation Projects

Forte Minerals Corp. ("Forte" or the "Company") (CSE: CUAU) (OTQB: FOMNF) ( Frankfurt : 2OA) has added three new exploration projects to its portfolio of gold prospects in Peru following a 4 month regional geological reconnaissance program to follow-up on recently awarded concessions that were staked through a remote sensing targeting program.

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Forte Minerals Appoints Two Strategic Members to the Advisory Committee

Forte Minerals Appoints Two Strategic Members to the Advisory Committee

Forte Minerals Corp. ("Forte" or the "Company") (CSE: CUAU) (OTQB: FOMNF) ( Frankfurt : 2OA), a junior mining exploration company has blended assets with GlobeTrotters Resources Perú SAC to build an attractive portfolio of high-quality copper and gold assets in Perú. The Company's portfolio combines early-stage and drill-ready targets with a historically discovered and drilled porphyry system that is strategically positioned for copper and gold resource development.

Forte Minerals CSE: CUAU | OTCQB:FOMNF | Frankfurt:2OA (CNW Group/Forte Minerals Corp.)

Forte Minerals is pleased to announce the appointment of two new strategic members to its advisory committee. These talented individuals were appointed by the board of directors for the purpose of offering advice and support on a wide range of issues relevant to the exploration & mining initiatives in Peru as well as the financial advancement of the Company.

We're excited and honoured to welcome Ricardo Labó and Peter Espig to the team. Mr. Labó is a mineral economist with over 20 years industry experience in Peru , Latin America , and Africa . His wealth of regional experience and strong political network is invaluable.

Mr. Espig is a financier and former VP at Goldman Sachs, with an impressive track record. He has structured over US$2.0 billion in private equity and pre-IPO investment transactions from the principal side and is a pioneer of SPACs, having completed over $1.0 BN in transactions.

Ricardo Labó and Peter Espig are joining existing advisors', Paul Johnston and Thomas Henricksen to form a well-balanced advisory committee. The committee will serve as an important complement to the Board of Directors and management of the Company, and create considerable value in form of contacts, perspective, industry expertise, as well as strategic input and financial guidance.

Ricardo Labó MSc . - Mineral Economist

Mr. Labó is currently the country manager in Peru for Element 29 (TSXV: ECU), a partner at LQG Energy and Mining Consulting, General Manager of LQG Ambiental and Executive Director of the Australia Peru Chamber of Commerce.

He has held several high-level positions in the Ministry of Energy and Mines of Peru including Vice Minister of Mines, Advisor to the Minister of Energy and Mines as well as Director of Mining Promotion and Development where he successfully promoted responsible mining exploration and development investment in the country. In the private sector, he held several senior positions at Rio Tinto, Roche, Phelps Dodge and Grupo Apoyo, provided strategic advisory and consultancy services to several international mining companies and institutions, and was a board member of several private and state-owned mining and energy companies.

Mr. Labó is a Peruvian Chartered Economist from Universidad del Pacifico ( Peru ), with an MSc. in Mineral Economics from Colorado School of Mines (US), an LLM in Mineral Law and Policy from CEPMLP, University of Dundee (Scotland , UK) and an MBA from Adolfo Ibañez School of Management ( Chile and US).

Peter Espig – Financial Advisor

Since November 2013 , Mr. Espig has been the President and CEO of Nicola Mining Inc. (TSX-V: NIM). He has been active in the turnaround of mining projects and has functioned in management and director roles for numerous mining companies. He is experienced in the analysis of investment opportunities, raising capital, deal sourcing, financial structuring, and corporate turnaround.

Mr. Espig served as Vice-President of the Principal Finance and Securitization Group and Asia Special Situations Group for Goldman Sachs Japan. Prior to joining Goldman Sachs, Mr. Espig was Vice-President of Olympus Capital, a New York private equity firm, where he participated in corporate restructurings, investment analysis and financing negotiations for both domestic and international investments.

In 1989, Mr. Espig received his B.A. from the University of British Columbia and later received his MBA from Columbia Business School , where he was a Chazen International Scholar.

Paul Johnston PhD . – Technical Advisor

Mr. Johnston is a professional geologist with 30 years experience in the mining industry. His career as a mine geologist began at the Hemlo Gold deposit with Noranda. In 1996, he joined the exploration group at Teck Resources Limited (TSX-V: TECK) and amassed extensive international experience in early to advanced stage exploration through a variety of technical and management roles in Southeast Asia , Australia , North America , and South America , including Regional Chief Geoscientist for South America . Mr. Johnston currently serves as a Director on the board of Nicola Mining Inc. (TSX-V: NIM)

He holds a PhD from Queen's University and is a member of the Association of Professional Engineers and Geoscientists of British Columbia . Mr. Johnston's extensive international experience in early to advanced stage exploration for gold, copper and zinc is a great asset to the company.

Thomas Henricksen PhD. – Senior Geologist Advisor

Dr. Henricksen is a highly regarded economic field geologist with over five decades of exploration experience. He was one of the founders of Plan B Minerals Corp., now Forte Minerals Corp. Dr. Henricksen was the recipient of the Association for Mineral Exploration of British Columbia's 2018 Colin Spence Award for Excellence in Global Mineral Exploration. He received this notable award in recognition of his outstanding contributions to mineral discovery, and for being involved in some monumental discoveries and acquisitions across the world.

Dr. Henricksen has successfully worked on 40 mineral exploration projects in over 14 countries on 6 continents. In 2012, Dr. Henricksen served as Vice President of Exploration for Aegean Metals Group Inc., leading the senior field team in identifying, evaluating, and acquiring two high-grade gold-copper prospects (VMS Hot Maden and Ergama) in Turkey . Prior to this, Dr. Henricksen served as senior field geologist for Apoquindo Minerals Inc., which won a bid from Teck Resources to explore and develop a copper-gold deposit (Zafranal) in Peru , resulting in more than 400 million tons of copper.

In addition to many other successful exploration projects, he served as a member of the Arctic exploration team that successfully identified the Red Dog mine in Alaska , now the world's largest zinc reserves. Operated by Teck Resources in partnership with NANA Development Corporation, Red Dog's gross profit in 2017 was $971 million . Before this, Dr. Henricksen led efforts to secure the Eskay Creek mine for US Borax Inc. (a subsidiary of Rio Tinto), which, during the period of Dr. Henricksen's involvement, became the world's highest-grade gold mine and the fifth largest silver mine by volume.

He holds a BSc in Geology from the University of Wisconsin , and a Ph.D. in Economic Geology from Oregon State University .

ABOUT Forte Minerals CORP.

The Company is committed to maximizing shareholder value through acquiring, exploring, discovering, and developing copper and gold projects in Perú. Moving rapidly along the line of opportunity towards a value maxima is very attractive to investors. Significant value growth is generated when early-stage exploration moves towards resource definition while zoning in on target development and eliminating the early-stage grassroots risk. All three of Forte's properties offer this opportunity, with tremendous upside considering their geological potential.

On behalf of Forte Minerals CORP.
(signed) " Patrick Elliott "
Chief Executive Officer

www.forteminerals.com

Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.

Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Forte Minerals Corp.

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Forte Minerals Attends PDAC in Person

Forte Minerals Attends PDAC in Person

Forte Minerals Corp. ("Forte" or the "Company") (CSE: CUAU) (OTQB: FOMNF) ( Frankfurt : 2OA), is pleased to announce that the company will be attending this year's Prospectors & Developers Association of Canada (PDAC) convention, taking place in person at the Metro Toronto Convention Centre on June 13-15, 2022 .

Forte is a newly listed junior mining exploration company with an attractive portfolio of high-quality copper and gold assets in Perú. President and CEO Patrick Elliott , and his team are excited to meet with investors at booth 2949 at the Investor Exchange Pavilion to discuss current and upcoming exploration plans.

The Company's portfolio combines early-stage and drill-ready targets with a historically discovered and drilled porphyry system that is strategically positioned for copper and gold resource development.

In the video, Mr. Elliott goes through the company's decision to be in Peru , the different mining projects, and the highly experienced corporate and exploration teams. Watch the full video below to learn how Forte Minerals is well-positioned to thrive from prevailing copper prices.

Paul Johnston , P.Geo., is the Company's Qualified Person as defined by National Instrument 43-101 and has reviewed and approved responsible for the accuracy of the technical information contained in the video referenced in this news release.

ABOUT Forte Minerals CORP

The Company is committed to maximizing shareholder value through acquiring, exploring, discovering, and developing copper and gold projects in Perú. Moving rapidly along the line of opportunity towards a value maxima is very attractive to investors. Significant value growth is generated when early-stage exploration moves towards resource definition while zoning in on target development and eliminating the early-stage grassroots risk. All three of Forte's properties offer this opportunity, with tremendous upside considering their geological potential.

On behalf of Forte Minerals CORP.
(signed) " Patrick Elliott "
Chief Executive Officer

Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.

Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

CSE: CUAU (CNW Group/Forte Minerals Corp.)

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SOURCE Forte Minerals Corp.

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Forte Minerals Attends PDAC in Person

Forte Minerals Attends PDAC in Person

Forte Minerals Corp. ("Forte" or the "Company") (CSE: CUAU) (OTQB: FOMNF) ( Frankfurt : 2OA), is pleased to announce that the company will be attending this year's Prospectors & Developers Association of Canada (PDAC) convention, taking place in person at the Metro Toronto Convention Centre on June 13-15, 2022 .

Forte is a newly listed junior mining exploration company with an attractive portfolio of high-quality copper and gold assets in Perú. President and CEO Patrick Elliott , and his team are excited to meet with investors at booth 2949 at the Investor Exchange Pavilion to discuss current and upcoming exploration plans.

The Company's portfolio combines early-stage and drill-ready targets with a historically discovered and drilled porphyry system that is strategically positioned for copper and gold resource development.

In the video, Mr. Elliott goes through the company's decision to be in Peru , the different mining projects, and the highly experienced corporate and exploration teams. Watch the full video below to learn how Forte Minerals is well-positioned to thrive from prevailing copper prices.

Paul Johnston , P.Geo., is the Company's Qualified Person as defined by National Instrument 43-101 and has reviewed and approved responsible for the accuracy of the technical information contained in the video referenced in this news release.

ABOUT Forte Minerals CORP

The Company is committed to maximizing shareholder value through acquiring, exploring, discovering, and developing copper and gold projects in Perú. Moving rapidly along the line of opportunity towards a value maxima is very attractive to investors. Significant value growth is generated when early-stage exploration moves towards resource definition while zoning in on target development and eliminating the early-stage grassroots risk. All three of Forte's properties offer this opportunity, with tremendous upside considering their geological potential.

On behalf of Forte Minerals CORP.
(signed) " Patrick Elliott "
Chief Executive Officer

Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.

Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

CSE: CUAU (CNW Group/Forte Minerals Corp.)

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SOURCE Forte Minerals Corp.

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Forte Minerals Announces Pucarini Gold Project Exploration Plans for 2022

Forte Minerals Announces Pucarini Gold Project Exploration Plans for 2022

Update on Drill Permitting and New Concessions Awarded

Forte Minerals Corp. ("Forte" or the "Company") (CSE: CUAU) (OTQB: FOMNF) ( Frankfurt : 2OA), a junior mining exploration company has blended assets with GlobeTrotters Resources Perú SAC to build an attractive portfolio of high-quality copper and gold assets in Perú. The Company's portfolio combines early-stage and drill-ready targets with a historically discovered and drilled porphyry system that is strategically positioned for copper and gold resource development.

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Hot Chili Limited

Further Consolidation of Cortadera

(NewsDirect)

Cortadera Porphyry Footprint Continues to Expand

· Hot Chili has succeeded in securing several new prospective mining rights, adjacent to mining rights in the recently announced transaction with Antofagasta Minerals S.A. (AMSA)

** 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=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. The entirety of the intersection is assumed as fresh. The recovery and copper equivalent formula for Cortadera – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq(%) = Cu(%) + 0.56 x Au(g/t) + 0.00046 x Mo(ppm) + 0.0043 x Ag(g/t)

Hot Chili Limited (ASX: HCH) (TSXV:HCH) (OTCQX: HHLKF) ("Hot Chili" or "Company") is pleased to announcefurther consolidation of the Cortadera copper-gold discovery in Chile.

The Company has succeeded in securing several new prospective mining rights at a recently held, government-run, public auction for the Huasco region of Chile. The new mining rights are located alongside mining rights of the recently announced (25 th November 2022) transaction with Antofagasta Minerals S.A. (AMSA).

Together, these new landholdings consolidate the western extension of Cortadera and allow Hot Chili to test a potentially much larger copper porphyry cluster.

Hot Chili has now secured four new large porphyry targets adjacent to the existing Cortadera resource (Cuerpo 1, 2 and 3), and added significant prospective strike length across two mineralised trends:

· Las Canas trend (+1.8km, N-S) - Three large porphyry targets including the Cuerpo 4 porphyry target (700m in strike length by 300m in width and drill confirmed, see announcement dated 25 th November 2022 for details of AMSA transaction)

· Cortadera trend (+1.1km, NW-SE) – One large porphyry target located directly along-strike from Cortadera on the Serrano fault, an important mineralising fault corridor connecting the Cortadera and Productora copper-gold deposits

The new landholding successfully acquired at auction contains the Cortadera trend extension and comprises seven mining rights covering 757 hectares. Three mining rights (Falla Maipo 2, 3, 4) were acquired for US$110,000 and the remaining four mining rights (CF 6, 7, 8, 9) were successfully awarded following forfeiture of overlapping third party mining rights.

Figures on the following pages outline the location of the new mining rights in relation to Cortadera.

Drilling across the western extension to Cortadera is planned to commence as soon as possible.

This recent strategic consolidation of the Cortadera porphyry deposit area has the potential to deliver another significant leg of resource growth to the Costa Fuego copper hub.

Further updates and announcements are expected in the lead-up to drill commencement.

Figure 1. Location of new mining rights(AMSA) relating to Cortadera, Productora, San Antonio, Valentina and nearby coastal range infrastructure of Hot Chili's combined Costa Fuego copper-gold project, located 600km north of Santiago in Chile.

* Copper Equivalent (CuEq) reported for the resource 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 CuEq calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. Metallurgical recovery averages for each deposit consider Indicated + Inferred material and are weighted to combine sulphide flotation and oxide leaching performance. The recovery and copper equivalent formula for each deposit is:

Cortadera and San Antonio – Weighted recoveries of 82% Cu, 55% Au, 82% Mo and 37% Ag.

CuEq(%) = Cu(%) + 0.56 x Au(g/t) + 0.00046 x Mo(ppm) + 0.0043 x Ag(g/t)

Productora – Weighted recoveries of 84% Cu, 47% Au, 47% Mo and 0% Ag (not reported)

CuEq(%) = Cu(%) + 0.46 x Au(g/t) + 0.00026 x Mo(ppm)

Costa Fuego – Weighted recoveries of 83% Cu, 53% Au, 69% Mo and 23% Ag

CuEq(%) = Cu(%) + 0.52 x Au(g/t) + 0.00039 x Mo(ppm) + 0.0027 x Ag(g/t)

** Reported on a 100% Basis - combining Mineral Resource Estimates for the Cortadera, Productora and San Antonio deposits. Figures are rounded, reported to appropriate significant figures, and reported in accordance with the JORC Code, CIM and NI 43-101. Metal rounded to nearest thousand, or if less, to the nearest hundred.

Total Resource reported at +0.21% CuEq for open pit and +0.30% CuEq for underground.

Figure 2. Location of Cuerpo 4 and other immediate porphyry targets within the AMSA landholding and new landholding acquired through public auction, lying immediately west of the Cortadera resource.Figure 3. Location of Cuerpo 4 and other immediate porphyry targets within the AMSA landholding and new landholding acquired through public auction, lying immediately west of the Cortadera resource. Note magnetic (RTP magnetics image – blue is low, red is high) signature of the Cortadera deposit window in relation to A+B vein contours and late stage porphyry dykes. Subtle de-magnetised anomalies along the main mineralising trends (Las Canas and Cortadera) are of particular interest given the magnetic signatures of Cortadera's three porphyry centres.Figure 4. Location of Cuerpo 4 and other immediate porphyry targets within the AMSA landholding and new landholding acquired through public auction, lying immediately west of the Cortadera resource. Note surface molybdenum anomalies at Cortadera and Cortadera North in relation to A+B vein contours and late stage porphyry dykes. Expansion of surface geochemistry and mapping is planned across the new landholdings.

Refer to ASX Announcement "Hot Chili Delivers Next Level of Growth" (31st March 2022) for JORC Code Table 1 information related to the Costa Fuego JORC-compliant Mineral Resource Estimate (MRE) by Competent Person Elizabeth Haren, constituting the MREs of Cortadera, Productora and San Antonio (which combine to form Costa Fuego).

* Copper Equivalent (CuEq) reported for the resource 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 CuEq calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. Metallurgical recovery averages for each deposit consider Indicated + Inferred material and are weighted to combine sulphide flotation and oxide leaching performance. The recovery and copper equivalent formula for each deposit is:

Cortadera and San Antonio – Weighted recoveries of 82% Cu, 55% Au, 82% Mo and 37% Ag.

CuEq(%) = Cu(%) + 0.56 x Au(g/t) + 0.00046 x Mo(ppm) + 0.0043 x Ag(g/t)

Productora – Weighted recoveries of 84% Cu, 47% Au, 47% Mo and 0% Ag (not reported)

CuEq(%) = Cu(%) + 0.46 x Au(g/t) + 0.00026 x Mo(ppm)

Costa Fuego – Weighted recoveries of 83% Cu, 53% Au, 69% Mo and 23% Ag

CuEq(%) = Cu(%) + 0.52 x Au(g/t) + 0.00039 x Mo(ppm) + 0.0027 x Ag(g/t)

** Reported on a 100% Basis - combining Mineral Resource Estimates for the Cortadera, Productora and San Antonio deposits. Figures are rounded, reported to appropriate significant figures, and reported in accordance with the JORC Code, CIM and NI 43-101. Metal rounded to nearest thousand, or if less, to the nearest hundred.

Total Resource reported at +0.21% CuEq for open pit and +0.30% CuEq for underground.

** Note: Silver (Ag) is only present within the Cortadera Mineral Resource estimate

Competent Person's Statement- Exploration Results

Exploration information in this Announcement is based upon work compiled by Mr Christian Easterday, the Managing Director and a full-time employee of Hot Chili Limited whom 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 deposit 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 the report of the matters based on their information in the form and context in which it appears.

Competent Person's Statement- Costa Fuego Mineral Resources

The information in this report that relates to Mineral Resources for Cortadera, Productora and San Antonio which constitute the combined Costa Fuego Project is based on information compiled by Ms Elizabeth Haren, a Competent Person who is a Member and Chartered Professional of The Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Ms Haren is a full-time employee of Haren Consulting Pty Ltd and an independent consultant to Hot Chili. Ms Haren has sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Ms Haren consents to the inclusion in the report of the matters based on her information in the form and context in which it appears. For further information on the Costa Fuego Project, refer to the technical report titled "Resource Report for the Costa Fuego Technical Report", dated December 13, 2021, which is available for review under Hot Chili's profile at www.sedar.com.

Reporting of Copper Equivalent

Copper Equivalent (CuEq) reported for the resource 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 CuEq calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. Metallurgical recovery averages for each deposit consider Indicated + Inferred material and are weighted to combine sulphide flotation and oxide leaching performance. The recovery and copper equivalent formula for each deposit is:

Cortadera and San Antonio – Weighted recoveries of 82% Cu, 55% Au, 82% Mo and 37% Ag.

CuEq(%) = Cu(%) + 0.56 x Au(g/t) + 0.00046 x Mo(ppm) + 0.0043 x Ag(g/t)

Productora – Weighted recoveries of 84% Cu, 47% Au, 47% Mo and 0% Ag (not reported)

CuEq(%) = Cu(%) + 0.46 x Au(g/t) + 0.00026 x Mo(ppm)

Costa Fuego – Weighted recoveries of 83% Cu, 53% Au, 69% Mo and 23% Ag

CuEq(%) = Cu(%) + 0.52 x Au(g/t) + 0.00039 x Mo(ppm) + 0.0027 x Ag(g/t)

About Hot Chili

Hot Chili Limited is a mineral exploration company with assets in Chile. The Company's flagship project, Costa Fuego, is the consolidation into a hub of the Cortadera porphyry copper-gold discovery and the Productora copper-gold deposit, set 14 km apart in an excellent location – low altitude, coastal range of Chile, infrastructure rich, low capital intensity. The Costa Fuego landholdings, contains an Indicated Resource of 725Mt grading 0.47% CuEq (copper equivalent), containing 2.8 Mt Cu, 2.6 Moz Au, 10.4 Moz Ag, and 67 kt Mo and an Inferred Resource of 202 Mt grading 0.36% CuEq containing 0.6Mt Cu, 0.4 Moz Au, 2.0 Moz Ag and 13 kt Mo, at a cut-off grade of +0.21% CuEq for open pit and +0.30% CuEq for underground. (Refer to ASX Announcement "Hot Chili Delivers Next Level of Growth" (31st March 2022) and Technical Report NI 43-101 titled "Resource Report for the Costa Fuego Copper Project Located in Atacama, Chile", dated 13 May 2022). The Company is working to advance its Costa Fuego Project through a preliminary feasibility study (followed by a full FS and DTM), and test several high-priority exploration targets.

Certain statements contained in this news release, including information as to the future financial or operating performance of Hot Chili and its projects may include statements that are "forward�looking statements" which may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, and capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Hot Chili, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward�looking statements.

Hot Chili disclaims any intent or obligation to update publicly or release any revisions to any forward�looking statements, whether as a result of new information, future events, circumstances or results or otherwise after the date of this news release or to reflect the occurrence of unanticipated events, other than as may be required by law. The words "believe", "expect", "anticipate", "indicate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar expressions identify forward�looking statements.

All forward�looking statements made in this news release are qualified by the foregoing cautionary statements. Investors are cautioned that forward�looking statements are not a guarantee of future performance and accordingly investors are cautioned not to put undue reliance on forward�looking statements due to the inherent uncertainty therein.

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.

Contact Details

Investor Relations

Graham Farrell

+1 416-842-9003

Graham.Farrell@harbor-access.com

Investor Relations

Jonathan Paterson

+1 475-477-9401

Jonathan.Paterson@harbor-access.com

Managing Director

Christian Easterday

admin@hotchili.net.au

Company Website

https://www.hotchili.net.au/investors/

Copyright (c) 2022 TheNewswire - All rights reserved.

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