Chile sealed a dramatic victory in front of their home fans thanks to a last-gasp strike from Ian Garguez, sending the stadium into wild celebration.
The match began with few clear chances in the opening half, but New Zealand came alive after the restart.
Keegan Kelly struck the post from a corner, before the visitors forced Santiago’s goalkeeper into a brilliant double save to deny Luke Brooke-Smith and Codey Phoenix.
Those missed opportunities proved costly. Agustin Arce pounced on a misplaced pass and threaded a precise ball into Lautaro Millan, who made no mistake with a clinical finish to put the hosts in front.
New Zealand, however, refused to bow out quietly. Substitute Nathan Walker was brought down inside the box and calmly converted the resulting penalty to level the contest with six minutes left on the clock.
But just when it seemed the game would end in a draw, late drama unfolded.
Garguez capitalised on a fumble from the New Zealand goalkeeper and smashed home the winner at the death, etching his name into Santiago’s history.
The thrilling finish ensured Santiago claimed a memorable victory, while New Zealand were left to reflect on wasted chances.