Exeter provides update on proposed spin-out to create two independent companies

RESTRUCTURING TO UNLOCK THE VALUE OF THE HIGH GRADE CERRO MORO GOLD-SILVER PROJECT IN ARGENTINA

VANCOUVER, Feb. 11 /PRNewswire-FirstCall/ - Exeter Resource Corporation (NYSE-Amex:XRA, TSX:XRC and Frankfurt: EXB - "Exeter" or the "Company") has obtained an interim order from the British Columbia Supreme Court providing for a special meeting of shareholders (the "Meeting") required to approve the spin-out of its Argentine assets into a new company to be known as Extorre Gold Mines Limited ("Extorre").

Exeter shareholders of record on January 27, 2010 will be asked to vote on the proposal at the Meeting, which is expected to be convened on March 11, 2010. If approved, the transaction will result in each Exeter shareholder on the effective date of the transaction (expected to be on or about March 17, 2010), receiving one share in Extorre for each share held in Exeter on that date. There will be no change in shareholders' holdings in Exeter.

As announced, under the terms of the transaction Exeter will retain all assets relating to the Caspiche gold-copper discovery, together with approximately $50 million in working capital, and focus on the advancement of Caspiche. Exeter will transfer to Extorre the Cerro Moro and other Argentine exploration properties and approximately $25 million in working capital. Extorre will become an emerging gold-silver producer focused on the high grade Cerro Moro gold-silver project in Argentina.

Extorre will focus on taking Cerro Moro through a Preliminary Assessment Study in Q3-2010. That report that will provide a detailed description of a potential mine at Cerro Moro, including forecast production rates, capital costs, operating costs and cash flows. Extorre also intends to increase the Cerro Moro resource by drilling the many partially explored veins on the property.

Dr. Eric Roth will be CEO and President of Extorre. Eric has worked as a mine geologist on gold mines in Australia and Chile, and as an exploration geologist globally for BHP, the Rio Tinto Group companies and AUR Resources. More recently, Eric was Global Exploration Manager for AngloGold Ashanti. Darcy Daubaras will be CFO and Yale Simpson and Bryce Roxburgh will act as joint non-executive Chairman of the Board.

The board of directors will consist of Yale Simpson, Bryce Roxburgh, Louis Montpellier, Cecil Bond, Robert Reynolds and Ignacio Celorrio. Mr. Celorrio is an Argentine lawyer and partner at Quevedo Abogado, whose practice includes mining law. He is also the president of Malbex San Juan S.A., Minera Cielo Azul S.A., and Inversiones Mineras Australes S.A

The transaction is subject to shareholder and regulatory approvals, including approval of the Toronto Stock Exchange, the NYSE Amex and the Supreme Court of British Columbia.

An information circular setting out further details of the transaction and the Meeting will be mailed February 17th 2010.

About Exeter

Exeter Resource Corporation is a Canadian mineral exploration company focused on the discovery and development of gold and silver properties in South America. The Company has C$77 million in its treasury. On January 19, 2010 the Board approved a proposal to undertake a spin-out transaction pursuant to which the assets of Exeter would be separated into two highly focused companies.

On the Caspiche Project in Chile an inferred mineral resource estimate of 1,117 Mt (million metric tons) at a grade of 0.55 grams per metric ton gold and 1.12 grams per metric ton silver including 1,017 Mt at a grade of 0.22% copper was announced in September 2009. This equates to in-situ inferred resources of 19.6 million ounces of gold, 40 million ounces of silver and 4.84 billion pounds of copper (a total of 32.4 million gold equivalent ounces*. Drilling with six rigs is underway to expand and upgrade the resource.

On the Cerro Moro Project in Argentina an initial inferred mineral resource estimate of 646,000 ounces gold equivalent** at a grade of 18 g/t gold equivalent** was announced mid-2009. A new Cerro Moro resource estimate is scheduled for April 2010, to be followed by a Preliminary Assessment Study as noted above. These studies will form the basis of a mine development decision and the submission of the project to Provincial authorities for permitting. Exploration drilling will continue through 2010.

Matthew Williams, Exeter's Exploration Manager and Justin Tolman, Exeter's Caspiche Project Manager both considered a "qualified person" within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news release.

You are invited to visit the Exeter web site at www.exeterresource.com.

    EXETER RESOURCE CORPORATION

   Bryce Roxburgh
   President and CEO

*Gold ("Au") equivalence for copper ("Cu") and silver ("Ag") was calculated by Exeter using assumed metal prices of US$800/ounce ("oz") for Au, US$12/oz for Ag and US$2/pound ("lb") for Cu. The formula to calculate Au equivalence for Cu was pounds of Cu multiplied by 2 and divided by 800; Au equivalence for Ag was calculated using the formula oz of Ag multiplied by 12 and divided by 800, and in both cases assumes 100% recovery. Reported grades and metric tons have been rounded (see news release NR 9-22 dated October 20, 2009).

**Inferred mineral resource estimate of 1,098 Mt containing 371,000 ounces gold at a grade of 10.5 g/t and 19.2 million ounces silver at a grade of 545 g/t for 646,000 ounces gold equivalent at a grade of 18 g/t gold equivalent. Gold equivalent is calculated by dividing the silver assay result by 70, adding it to the gold value and assuming 100% metallurgical recovery (see news release NR 9-14 dated July 8, 2009).

Safe Harbour Statement - This news release contains "forward-looking information" and "forward-looking statements" (together, the "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including the Company's belief as to the extent and timing of its drilling programs, various studies including engineering, environmental, infrastructure and other studies, and exploration results, budgets for its exploration programs, the potential tonnage, grades and content of deposits, timing, establishment and extent of resources estimates, potential for financing its activities, potential production from and viability of its properties, expected cash reserves and the expected benefits of the proposed spin-out transaction. These forward-looking statements are made as of the date of this news release. Users of forward-looking statements are cautioned that actual results may vary from the forward-looking statements contained herein. While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee of the Company's future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such factors and assumptions include, amongst others, the effects of general economic conditions, the price of gold, silver and copper, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information. In addition, there are also known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters of the Company with certain other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of the Company's common share price and volume; tax consequences to U.S. investors; and other risks and uncertainties, including those described in the Company's Annual Information Form for the financial year ended December 31, 2008, dated March 27, 2009 filed with the Canadian Securities Administrators and available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.

NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

SOURCE Exeter Resource Corporation

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From AM2010 Sponsors: Exeter adds Louis Montpellier to senior management

VANCOUVER, Feb. 1 /PRNewswire-FirstCall/ - The Board of Directors of Exeter Resource Corporation (NYSE - XRA, TSX: XRC, Frankfurt: EXB - "Exeter" or the "Company") is pleased to announce the addition of Mr. Louis Montpellier to its senior management. He has been an independent director of the Company since January 2008.

Mr. Montpellier has been practicing law in Vancouver, Canada since 1981. He has worked exclusively in the capital markets as outside counsel to public companies engaged in international mineral exploration and mining. His experience includes the entire spectrum of corporate finance activities as well as mergers and acquisitions, corporate reorganizations and project financing.

Messrs. Bryce Roxburgh and Yale Simpson said, "We have known and worked with Louis Montpellier for some years. His depth of experience in capital markets, M&A matters and corporate reorganisations will greatly benefit Exeter going forward. Louis is well respected in the mining industry and will be pleasure to work with on a day to day basis."

Mr. Montpellier is joining Exeter as Vice President - Corporate Development and Legal Counsel to assist in managing the growth in activity expected to result from the recently announced corporate spinout of the Cerro Moro project and other Argentina assets. It is anticipated that upon completion of that transaction Mr. Montpellier will also be involved in the management and board of the new company. The Company has awarded Mr. Montpellier 500,000 stock options, vesting over 18 months, exercisable for 5 years at a price of $6.91 per share.

The Company has also awarded 200,000 stock options, vesting over 12 months, exercisable for 5 years at a price of $6.91 per share to 2 officers of the Company.

About Exeter

Exeter Resource Corporation is a Canadian mineral exploration company focused on the discovery and development of gold and silver properties in South America. The Company has C$76 million in its treasury.

On January 19, 2010, the Board approved a proposal to undertake a spin-out transaction pursuant to which the assets of Exeter would be separated into two highly focused companies. Under the terms of the proposed transaction, Exeter will retain all assets relating to the Caspiche gold-copper discovery in Chile and will transfer to a new corporation the Cerro Morro and other exploration properties in Argentina. The proposal will be voted on by shareholders at a shareholders meeting expected to be held on March 4th.

On the Caspiche Project in Chile, an inferred mineral resource estimate of 1,117 Mt (million metric tons) at a grade of 0.55 grams per metric ton gold and 1.12 grams per metric ton silver including 1,017 Mt at a grade of 0.22% copper was announced in September 2009. This equates to in-situ inferred resources of 19.6 million ounces of gold, 40 million ounces of silver and 4.84 billion pounds of copper (a total of 32.4 million gold equivalent ounces*. Drilling with six rigs is underway to expand and upgrade the resource.

On the Cerro Moro Project in Argentina, an inferred mineral resource estimate of 646,000 ounces gold equivalent** at a grade of 18 g/t gold equivalent** was announced mid-2009. Exeter continues to drill with 3 rigs to upgrade inferred resources to indicated resources on the Escondida vein.

A new Cerro Moro resource estimate is scheduled for April 2010, to be followed by a mine development study in Q2-2010. These studies will form the basis of a mine development decision and the submission of the project to Provincial authorities for permitting. Exploration drilling will continue through 2010.

No site work is planned on the Don Sixto gold-silver project in Argentina over the next quarter.

Matthew Williams, Exeter's Exploration Manager and Justin Tolman, Exeter's Caspiche Project Manager both considered a "qualified person" within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news release.

You are invited to visit the Exeter web site at www.exeterresource.com.

EXETER RESOURCE CORPORATION

    Bryce Roxburgh
President and CEO

-------------------
*  Gold ("Au") equivalence for copper ("Cu") and silver ("Ag") was
    calculated by Exeter using assumed metal prices of US$800/ounce
    ("oz") for Au, US$12/oz for Ag and US$2/pound ("lb") for Cu. The
    formula to calculate Au equivalence for Cu was pounds of Cu
    multiplied by 2 and divided by 800; Au equivalence for Ag was
    calculated using the formula oz of Ag multiplied by 12 and divided
    by 800, and in both cases assumes 100% recovery. Reported grades and
    metric tons have been rounded (see news release NR 9-22 dated
    October 20, 2009).
** Inferred mineral resource estimate of 1,098 Mt containing 371,000
    ounces gold at a grade of 10.5 g/t and 19.2 million ounces silver at
    a grade of 545 g/t for 646,000 ounces gold equivalent at a grade of
    18 g/t gold equivalent. Gold equivalent is calculated by dividing
    the silver assay result by 70, adding it to the gold value and
    assuming 100% metallurgical recovery (see news release NR 9-14 dated
    July 8, 2009).

Safe Harbour Statement - This news release contains "forward-looking information" and "forward-looking statements" (together, the "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including the Company's belief as to the extent and timing of its drilling programs, various studies including engineering, environmental, infrastructure and other studies, and exploration results, budgets for its exploration programs, the potential tonnage, grades and content of deposits, timing, establishment and extent of resources estimates, potential for financing its activities, potential production from and viability of its properties, expected cash reserves and the expected benefits of the proposed spin-out transaction. These forward-looking statements are made as of the date of this news release. Users of forward-looking statements are cautioned that actual results may vary from the forward-looking statements contained herein. While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee of the Company's future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such factors and assumptions include, amongst others, the effects of general economic conditions, the price of gold, silver and copper, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information. In addition, there are also known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters of the Company with certain other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of the Company's common share price and volume; tax consequences to U.S. investors; and other risks and uncertainties, including those described in the Company's Annual Information Form for the financial year ended December 31, 2008, dated March 27, 2009 filed with the Canadian Securities Administrators and available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.

NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

SOURCE Exeter Resource Corporation

For more information on Mining in Argentina, active companies, projects and operating mines, statistics and much more, please visit our website: http://www.argentinamining.com/

Peak Gold Output Looms as ‘Big Money’ Flocks to Exeter

By Marc Davis, www.BNWnews.ca

With bullion prices at all-time highs and world-class gold discoveries becoming ever more elusive, the investment industry is gambling increasingly sizeable sums of money on major mines-in-the-making. A recent example of this new trend involves Exeter Resource Corporation (TSX.V: XRC) (NYSE-A: XRA). Specifically, a handful of top-tier investment banks snapped up the high-flying mining junior’s CDN $57.5 million equity financing last month in less than 24 hours.

Of Exeter’s war chest, a sizeable amount is being used to develop one of the world’s largest gold discoveries in recent years. The Caspiche gold/copper deposit in Chile is a veritable monster that weighs in at 33.7 million gold ‘equivalent’ ounces. (This ‘equivalent’ metric involves silver and copper by-product metals that are valued using baseline prices of US $12 for silver and US $2.00 per pound for copper, while US $800 is used for the gold valuation). Stated another way, Caspiche boasts an inferred resource estimate of 19.8 million ounces of gold, 40 million ounces of silver and 4.8 billion pounds of copper.

The amount of money poured into Vancouver-based Exeter Resource is a clear indication that multi-billion dollar hedge funds are beginning to diversify into gold exploration companies – at least the ones that have especially large in-development gold assets. This is because these gold stocks are increasingly assuming a newly-found collective role as a powerful inverse proxy to the weakening US dollar. In this regard, they are proving as attractive as gold bullion, itself. And though they are far riskier investments when compared to owning physical gold, they have been offering much greater returns as of the past few months.

Continue reading at >> Goldseek


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Exeter Reports on 40 New Drill Holes at Cerro Moro

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2009) - Exeter Resource Corporation (TSX VENTURE:XRC)(NYSE Amex:XRA)(FRANKFURT:EXB) - ("Exeter" or the "Company") is pleased to report on progress from its in-fill drilling program on the high grade Escondida Vein at Cerro Moro in Santa Cruz Province, Argentina.
Results have been received from an additional 40 diamond drill holes from the Escondida West, Central, East and Fomicruz sectors. Of 23 drill holes returning significant results, 9 returned bonanza gold and silver grades (all from the West, Central and East sectors).

To view the full table with all 23 significant holes, please visit the following link: http://www.exeterresource.com/images/gallery/plans/Table_85.pdf.

Of the 17 diamond drill holes with less significant results, 7 holes returned narrow and/or low grade intersections and 10 holes were poorly mineralized. The results from 6 holes at the Escondida Central and West sectors are awaited.

The locations of the 40 drill holes reported are represented on the following plans and long sections.

To view the sections and plans, please visit the following link: http://www.exeterresource.com/images/gallery/plans/Plan_84.pdf.

An additional 44 in-fill diamond drill holes have been drilled at the Escondida Far West sector. Results for the holes will be released following processing, sampling and assaying.

Drilling Progress on the Escondida Fomicruz Property

A reverse circulation percussion (RC) drill rig has completed an initial exploratory test of the potential northwest extension of the Escondida mineralized structure on the Escondida Fomicruz joint venture property. The rig firstly drilled through the blanket of Tertiary marine sediments before testing the underlying volcanic stratigraphy. Ten drill sections that included 11 RC holes and 2 diamond holes were drilled within a strike length of 1,600 m (160 m intervals).

The position of the Escondida structure was determined for each drill section, with assays now available for the first three holes. Drill hole MRC600, located 160 m northwest of the last mineralized Escondida Far West sector hole designated MD405 (1.62 m at a grade of 2.53 g/t gold and 100 g/t silver), returned 2.0 m at a grade of 1.8 g/t gold and 1.2 g/t silver, from a down hole depth of 141.0 m. Importantly, MRC600 was terminated at 146.0 m but was not sampled below 143 m due to poor sample recoveries.

On the next drill section, 160 m northwest of MRC600, drill hole MD587 was sited too far to the northeast to hit the Escondida structure. A follow-up hole, MD588, sited as a step back hole, successfully intercepted the target but failed to return significant mineralization.

Cerro Moro Project Manager, Fernando Chacon noted "Based on our experience to the southeast, subtle anomalous pathfinder element geochemistry in holes MD588 and MRC600 suggests these holes intersected the Escondida structure immediately above the precious metal precipitation zone of the epithermal system. The diamond drill is currently drilling 40 m spaced holes between MD405 and MRC600, with a series of deeper holes planned."

Quality Control and Assurance

Drill widths presented above are drill intersection widths and may not represent the true widths of mineralization.

Gold assay results presented above are preliminary and have been calculated using a 1.0 g/t gold equivalent cut-off grade, with no cutting of high grades. All diamond drill core samples are split on regular metre intervals or on geological contacts and represent sawn half HQ-size core. Samples were prepared at the Acme Analytical Laboratories ("AcmeLabs") preparation facility in Mendoza, Argentina and assayed by fire assay (50 gram charge) at the AcmeLabs laboratory in Chile, both ISO-9001:2000 certified laboratories.

Check assaying of all samples assaying greater than 1.0 g/t gold is completed by Acme Labs. Samples returning greater than 10 g/t gold and/or greater than 100 g/t silver are assayed using gravimetric analyses. Standard and blank samples are used throughout the sample sequence as checks for the diamond drilling reported in this release. Standard, blank and duplicate samples are used throughout the sample sequence as checks for the RC percussion drilling.

Assaying by the screen fire assay method has been implemented in conjunction with standard 50 gram fire assaying, for diamond drill cores that contain visible gold. The procedure for screen fire assaying involves crushing and sieving of a nominal 1,000 gram sample to a particle size of 100 microns. All material which does not pass through the 100 micron sieve is then assayed. Two fire assays are undertaken on the undersize material as a check on homogeneity. The total gold content is then calculated.

Matthew Williams, Exeter's Exploration Manager and a "qualified person" within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news release.

About Exeter

Exeter Resource Corporation is a Canadian mineral exploration company focused on the discovery and development of gold and silver properties in South America. The Company has C$30 million in its treasury.

On the Caspiche Project in Chile, Exeter recently announced an inferred mineral resource estimate of 1,117 Mt (million metric tons) at a grade of 0.55 grams per metric ton gold and 3.81 grams per metric ton silver including 1,017 Mt at a grade of 0.22% copper. This equates to in-situ inferred resources of 19.6 million ounces of gold, 137 million ounces of silver and 4.84 billion pounds of copper (a total of 33.7 million gold equivalent ounces(ii). Drilling to expand and upgrade the resource estimate is scheduled to commence in October 2009.

On the Cerro Moro Project in Argentina, Exeter recently announced an initial inferred mineral resource estimate of 646,000 ounces gold equivalent(iii) at a grade of 18 g/t gold equivalent(iii). Exeter has drilled over 150 in-fill holes on the Escondida Vein structure to upgrade inferred resources to indicated resources for priority areas for a 2010 scoping study. Drilling will continue through 2009, as will engineering, environmental and infrastructure studies.

No site work is planned on the Don Sixto gold-silver project in Argentina over the next quarter. The Company will continue to work with provincial authorities and with representatives of other mining companies, to effect amendment to the 2007 legislation that banned the use of cyanide in mining operations in Mendoza Province.

(ii)Gold ("Au") equivalence for copper ("Cu") and silver ("Ag") was calculated by Exeter using assumed metal prices of US$800/ounce ("oz") for Au, US$12/oz for Ag and US$2/pound ("lb") for Cu. The formula to calculate Au equivalence for Cu was pounds of Cu multiplied by 2 and divided by 800; Au equivalence for Ag was calculated using the formula oz of Ag multiplied by 12 and divided by 800, and in both cases assumes 100% recovery. Reported grades and metric tons have been rounded (see news release NR 9-19 dated September 14, 2009).

(iii)Inferred mineral resource estimate of 1,098,000 tonnes containing 371,000 ounces gold at a grade of 10.5 g/t and 19.2 million ounces silver at a grade of 545 g/t for 646,000 ounces gold equivalent at a grade of 18 g/t gold equivalent. Gold equivalent is calculated by dividing the silver assay result by 70, adding it to the gold value and assuming 100% metallurgical recovery (see news release NR 9-14 dated July 8, 2009).

You are invited to visit the Exeter web site at www.exeterresource.com. To view the video version of this press release along with many others click here "Watch Video News": http://www.youtube.com/user/ExeterResourceCorp.

EXETER RESOURCE CORPORATION

Bryce Roxburgh, President and CEO

Safe Harbour Statement - This news release contains "forward-looking information" and "forward-looking statements" (together, the "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including the Company's belief as to the extent and timing of its drilling programs, various studies including engineering, environmental and infrastructure studies and exploration results, budgets for its exploration programs, the potential tonnage, grades and content of deposits, timing, establishment and extent of resources estimates,
potential for financing its activities, potential production from and viability of its properties and expected cash reserves. These forward-looking statements are made as of the date of this news release. Users of forward-looking statements are cautioned that actual results may vary from the forward-looking statements contained herein. While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee of the Company's future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such factors and assumptions include, amongst others, the effects of general economic conditions, the price of gold, silver and copper, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information. In addition, there are also known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters of the Company with certain other projects; the absence of dividends; currency fluctuations;
competition; dilution; the volatility of the Company's common share price and volume; tax consequences to U.S. investors; and other risks and uncertainties, including those described in the Company's Annual Information Form for the financial year ended December 31, 2008, dated March 27, 2009 filed with the Canadian Securities Administrators and available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.

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Exeter Reports on 50 New Drill Holes at Cerro Moro

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2009) - Exeter Resource Corporation (TSX VENTURE:XRC)(NYSE Amex:XRA)(FRANKFURT:EXB) - "Exeter" or the "Company") is pleased to report on progress on its in-fill drilling of the high grade Escondida Vein at Cerro Moro, Santa Cruz Province, Argentina.

Results have now been received from 50 diamond drill holes from the Escondida West, Central and East sectors, with the results of an additional 45 drill holes from these sectors awaited. 33 of the drill holes have returned significant results, with 9 holes returning the bonanza (multi-ounce) gold and silver grades that characterize Escondida. The highlights are shown in the following table.

Selected bonanza grade drilling results using a 1 gram per tonne ("g/t") gold equivalent(i) cut-off grade:

(i) Gold equivalent grade is calculated by dividing the silver assay result by 70, adding it to the gold value and assuming 100% metallurgical recovery.

Click here to view a table showing the 33 drill holes that contain significant results: http://www.exeterresource.com/images/gallery/plans/Table_80.pdf.

Of the remaining 17 diamond drill holes completed, 10 holes returned narrow and/or low grade intersections and seven holes were poorly mineralized. All 50 drill holes are represented on the following long sections and plans.

Click here to view diagrams of the project sections and plans: http://www.exeterresource.com/images/gallery/plans/Plan_81.pdf.

Exeter has also completed a further 26 diamond drill holes on the high grade Escondida Far West sector. Following sample preparation and assaying, results from these holes together with the additional 45 holes from the East, Central and West sectors drilled to date, will be released.

Progress on the Escondida Fomicruz Property

A reverse circulation percussion (RC) rig arrived on site in early August to commence scout drilling of a potential northwest extension of the Escondida mineralized structure onto the adjacent Fomicruz JV property. To date three holes have been drilled, with progress delayed by the need to penetrate a layer of weakly consolidated Tertiary marine sediments up to 50 metres thick. The Company is continuing to delineate the Escondida structure, and results to date have confirmed Exeter's interpretation of the geophysical data.

Quality Control and Assurance

Drill widths presented above are drill intersection widths and may not represent the true widths of mineralization.

Gold assay results presented above are preliminary and have been calculated using a 1.0 g/t gold equivalent cut-off grade(i), with no cutting of high grades. All diamond drill core samples are split on regular metre intervals or on geological contacts and represent sawn half HQ-size core. Samples were prepared at the Acme Analytical Laboratories ("AcmeLabs") preparation facility in Mendoza, Argentina and assayed by fire assay (50 gram charge) at the AcmeLabs laboratory in Chile, both ISO-9001:2000 certified laboratories.

Check assaying of all samples assaying greater than 1.0 g/t gold is completed by AcmeLabs. Samples returning greater than 10 g/t gold and/or greater than 100 g/t silver are assayed using gravimetric analyses. Standard and blank samples are used throughout the sample sequence as checks for the diamond drilling reported in this release. Standard, blank and duplicate samples are used throughout the sample sequence as checks for the RC percussion drilling.

Assaying by the screen fire assay method has been implemented in conjunction with standard 50 gram fire assaying, for diamond drill cores that contain visible gold. The procedure for screen fire assaying involves crushing and sieving of a nominal 1,000 gram sample to a particle size of 100 microns. All material which does not pass through the 100 micron sieve is then assayed. Two fire assays are undertaken on the undersize material as a check on homogeneity. The total gold content is then calculated.

Matthew Williams, Exeter's Exploration Manager and a "qualified person" within the definition of that term in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), has supervised the preparation of the technical information contained in this news release.

About Exeter

Exeter Resource Corporation is a Canadian mineral exploration company focused on the discovery and development of gold and silver properties in South America. The Company has C$30 million in its treasury.

The Caspiche gold-copper discovery(ii) is situated in the Maricunga gold district of Chile, between the Refugio mine (Kinross Gold Corp.) and the giant Cerro Casale gold deposit (Barrick Gold Corp. and Kinross Gold Corp.). Over 16,500 metres were drilled during the 2008/2009 drill season. The program focussed on delineating the external boundaries of Caspiche. An initial NI 43-101 compliant resource estimate was released in March 2009. A second NI 43-101 compliant resource estimate, which incorporates the results from drilling completed subsequent to December 31, 2008, is expected to be available in September 2009.

On its Cerro Moro project in Argentina, Exeter recently announced an initial inferred mineral resource estimate of 646,000 ounces gold equivalent(iii) at a grade of 18 g/t gold equivalent(iii). To date, Exeter has drilled over 100 infill holes on the Escondida vein structure in order to upgrade the sectors of the inferred resource that might be scheduled for early mining. Drilling will continue through 2009. Plans include drilling of a possible extension of the Escondida zone on the adjacent Fomicruz joint venture property. Engineering, environmental and infrastructure studies are being advanced ahead of a scoping study in 2010.

No site work is planned on the Don Sixto gold-silver project in Argentina over the next quarter. The Company will continue to work with provincial authorities and with representatives of other mining companies, to effect amendment to the 2007 legislation that banned the use of cyanide in mining operations in Mendoza Province.

(ii) Inferred mineral resource estimate of 449.9 million tonnes from the oxide and gold-copper zone contains 8.7 million ounces gold at a grade of 0.6 g/t and 375.9 million tonnes from the gold-copper zone only contains 2 billion pounds of copper at a grade of 0.25% (see news release NR 09-09 dated March 24, 2009).

(iii) Inferred mineral resource estimate of 1,098,000 tonnes containing 371,000 ounces gold at a grade of 10.5 g/t and 19.2 million ounces silver at a grade of 545 g/t for 646,000 ounces gold equivalent at a grade of 18 g/t gold equivalent. Gold equivalent is calculated by dividing the silver assay result by 70, adding it to the gold value and assuming 100% metallurgical recovery (see news release NR 09-14 dated July 8, 2009).

You are invited to visit the Exeter web site at www.exeterresource.com. To view the video version of this press release along with many others click on the "Watch Video News" button found on the right hand side of Exeter's homepage.

EXETER RESOURCE CORPORATION

Bryce Roxburgh, President and CEO

Safe Harbour Statement - This news release contains "forward-looking information" and "forward-looking statements" (together, the "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including the Company's belief as to the extent and timing of its drilling and work programs and exploration results, the potential size and shape of deposits, timing, establishment and extent of resources estimates, potential for financing its activities, potential production from its properties and expected cash reserves. These forward-looking statements are made as of the date of this news release. Users of forward-looking statements are cautioned that actual results may vary from the forward-looking statements contained herein. While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee of the Company's future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such factors and assumptions include, amongst others, the effects of general economic conditions, the price of gold and copper, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information.
In addition, there are also known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters of the Company with certain other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of the Company's common share price and volume; tax consequences to U.S. investors; and other risks and uncertainties, including those described in the Company's Annual Information Form for the financial year ended December 31, 2008, dated March 27, 2009 filed with the Canadian Securities Administrators and available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.

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



For more information, please contact

Exeter Resource Corporation
B. Roxburgh
President
604.688.9592 or Toll-free: 1.888.688.9592
604.688.9532 (FAX)

or

Exeter Resource Corporation
Rob Grey
VP Corporate Communications
604.688.9592 or Toll-free: 1.888.688.9592
604.688.9532 (FAX)
exeter@exeterresource.com
http://www.exeterresource.com/

---

For more information on Mining in Argentina, active companies, projects and operating mines, statistics and much more, please visit our website: http://www.argentinamining.com/

Exeter Reports on 14 New Drill Holes at Cerro Moro

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 29, 2009) - Exeter Resource Corporation (TSX VENTURE:XRC)(NYSE Amex:XRA)(FRANKFURT:EXB) ("Exeter" or the "Company") is pleased to report on progress from its in-fill drilling program on the high grade Escondida vein at Cerro Moro in Santa Cruz Province, Argentina.

Assays from a batch of 14 diamond drill holes on the Escondida vein include bonanza grades in drill holes MD475 and MD479, two holes that represent extensions to reported high grade mineralization in the Escondida Far West sector. This portion of the Escondida vein accounts for approximately 40% of the currently defined Escondida Zone resource.

Detailed drilling results using a 1 g/t gold equivalent(i) cut-off grade:
---------------------------------------------------------------------------
Gold Gold
From To Width Gold Silver Equivalents Equivalents
Drill Hole (m) (m) (m) (g/t) (g/t) (i)(g/t) (i)(oz/ton)
---------------------------------------------------------------------------
Escondida West Sector
---------------------------------------------------------------------------
MD467 165.60 166.94 1.34 11.1 384 16.5 0.48
---------------------------------------------------------------------------
including 166.06 166.59 0.53 26.0 880 38.6 1.12
---------------------------------------------------------------------------
Escondida Far West Sector
---------------------------------------------------------------------------
MD468 62.00 64.60 2.60 13.6 675 23.2 0.67
---------------------------------------------------------------------------
including 62.80 64.00 1.20 26.1 1,221 43.6 1.26
---------------------------------------------------------------------------
MD469 122.60 129.12 6.52 6.6 310 11.1 0.32
---------------------------------------------------------------------------
including 125.86 128.36 2.50 14.9 694 24.9 0.72
---------------------------------------------------------------------------
MD471 203.87 204.23 0.36 6.2 18 6.5 0.19
---------------------------------------------------------------------------
and 205.91 206.58 0.67 8.5 1,303 27.1 0.79
---------------------------------------------------------------------------
MD474 131.00 133.10 2.10 5.1 562 13.1 0.38
---------------------------------------------------------------------------
including 131.00 131.65 0.65 14.0 1,653 37.6 1.09
---------------------------------------------------------------------------
MD475 138.75 140.25 1.50 63.3 5,111 136.3 3.95
---------------------------------------------------------------------------
including 139.36 139.80 0.44 138.0 8,085 253.5 7.35
---------------------------------------------------------------------------
MD476 149.65 151.80 2.15 4.1 324 8.7 0.25
---------------------------------------------------------------------------
including 149.65 150.20 0.55 8.6 532 16.2 0.47
---------------------------------------------------------------------------
MD479 114.00 115.35 1.35 5.8 562 13.8 0.40
---------------------------------------------------------------------------
and 117.95 119.15 1.20 138.9 4,978 210.0 6.09
---------------------------------------------------------------------------
including 117.95 118.60 0.65 203.9 8,432 324.4 9.41
---------------------------------------------------------------------------
MD480 194.85 195.15 0.30 4.0 405 9.7 0.28
---------------------------------------------------------------------------
MD481 176.40 180.00 3.60 5.5 581 13.8 0.40
---------------------------------------------------------------------------
including 177.63 178.25 0.62 26.3 2,840 66.9 1.94
---------------------------------------------------------------------------
including 177.93 178.25 0.32 47.1 5,382 124.0 3.60
---------------------------------------------------------------------------
MD483 232.00 233.00 1.00 6.8 83 8.0 0.23
---------------------------------------------------------------------------
and 238.20 239.08 0.88 5.9 21 6.2 0.18
---------------------------------------------------------------------------
MD484 159.34 160.54 1.20 3.2 88 4.5 0.13
---------------------------------------------------------------------------
MD487 21.00 22.30 1.30 2.1 68 3.0 0.09
---------------------------------------------------------------------------
MD489 10.45 11.80 1.35 5.6 8 5.7 0.17
---------------------------------------------------------------------------


(i) Gold equivalent grade is calculated by dividing the silver assay result
by 70, adding it to the gold value and assuming 100% metallurgical
recovery.





Exeter recently announced an initial inferred mineral resource estimate of 646,000 ounces gold equivalent(ii) at a grade of 18 grams per tonne ("g/t") (0.52 ounces per ton ("oz/ton") gold equivalent(ii). The current focus is to advance drilling on the Escondida vein zone, which contains 519,000 ounces gold equivalent(ii) at a grade of 34 g/t (1.0 oz/ton) gold equivalent(ii). In particular, the Company expects that the program will generate the data necessary to upgrade the recently announced "inferred resource" to an "indicated resource" by Q1, 2010. This is an essential step towards completing a scoping study for developing a high grade mining operation on the property.

In the Far West sector of the Escondida vein, the Company has drilled a total of 24 diamond core holes to confirm the exceptional grades previously announced in that sector. Of the 14 drill holes announced in this news release, 13 are from that sector and are represented on the following longitudinal drill section.

Click here for a diagram showing the Long Section for Escondida Far West: http://www.exeterresource.com/images/gallery/plans/Plan_78.pdf

Drill hole MD467, on the West sector, successfully intersected high grade mineralization 140 metres ("m") (459 ft) vertically below surface, thereby demonstrating the potential for deeper high grades in that area.

Results are awaited from infill drilling on the West, Central and East sectors of the Escondida vein, where an additional 95 diamond drill holes for approximately 4,800 m (15,744 ft) are being logged and assayed. The majority of these holes are shallow and represent an approximate 20 x 20 m (65 x 65 ft) "staggered" pattern to assist with preliminary mine scoping models. Significant results will be released during August and September as the assays are collated and verified.

Click here for a diagram showing the Drill Hole Plan for Escondida: http://www.exeterresource.com/images/gallery/plans/Plan_79.pdf

Progress on the Escondida Fomicruz Property

Due to a delay in the arrival of a reverse circulation percussion (RC) rig the Company used the available diamond rig to conduct a 300 m (984 ft) program to confirm that the prospective Escondida structure extends onto the Fomicruz joint venture property. The rig was sited well into the Fomicruz lands, some 320 m (1,050 ft) northwest of the last hole drilled by Exeter at Escondida Far West. The Escondida structure was successfully located under 40 m of gravel cover, confirming our geophysical interpretation that the Escondida structure has an untested strike length of some 2.3 kilometres (1.43 miles) on the Fomicruz property (a distance similar to that drill tested to date at Escondida).

The Company has contracted a RC drill rig to drill a minimum of 15 holes (2,000 m (6,560 ft) program) on the Fomicruz lands. This program is scheduled to commence early next month with initial results to follow in September.

Quality Control and Assurance

Drill widths presented above are drill intersection widths and may not represent the true widths of mineralization.

Gold assay results presented above are preliminary and have been calculated using a 1.0 g/t gold equivalent cut-off grade(i), with no cutting of high grades. All diamond drill core samples are split on regular metre intervals or on geological contacts and represent sawn half HQ-size core. Samples were prepared at the Acme Analytical Laboratories ("AcmeLabs") preparation facility in Mendoza, Argentina and assayed by fire assay (50 gram charge) at the AcmeLabs laboratory in Chile, both ISO-9001:2000 certified laboratories.

Check assaying of all samples assaying greater than 1.0 g/t gold is completed by AcmeLabs. Samples returning greater than 10 g/t gold and/or greater than 100 g/t silver are assayed using gravimetric analyses. Standard and blank samples are used throughout the sample sequence as checks for the diamond drilling reported in this release. Standard, blank and duplicate samples are used throughout the sample sequence as checks for the RC percussion drilling.

Assaying by the screen fire assay method has been implemented in conjunction with standard 50 gram fire assaying, for diamond drill cores that contain visible gold. The procedure for screen fire assaying involves crushing and sieving of a nominal 1,000 gram sample to a particle size of 100 microns. All material which does not pass through the 100 micron sieve is then assayed. Two fire assays are undertaken on the undersize material as a check on homogeneity. The total gold content is then calculated.

Matthew Williams, Exeter's Exploration Manager and a "qualified person" within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news release.

About Exeter

Exeter Resource Corporation is a Canadian mineral exploration company focused on the discovery and development of gold and silver properties in South America. The Company has C$30 million in its treasury.

The Caspiche gold-copper discovery(iii) is situated in the Maricunga gold district of Chile, between the Refugio mine (Kinross Gold Corp.) and the giant Cerro Casale gold deposit (Barrick Gold Corp. and Kinross Gold Corp.). Over 16,500 m were drilled during the 2008/2009 drill season. The program focussed on delineating the external boundaries of Caspiche. A second National Instrument 43-101 compliant resource estimate, which incorporates the results from drilling completed subsequent to December 31, 2008, is expected to be available in September 2009.

On its Cerro Moro Project in Argentina, Exeter recently announced an initial inferred mineral resource estimate of 646,000 ounces gold equivalent(ii) at a grade of 18 g/t gold equivalent(ii). To date, Exeter has drilled over 100 infill holes on the Escondida vein structure in order to upgrade the sectors of the inferred resource that might be scheduled for early mining. Drilling will continue through 2009. Plans include drilling of a possible extension of the Escondida zone on the adjacent Fomicruz joint venture property. Engineering, environmental and infrastructure studies are being advanced ahead of a scoping study in 2010.

No site work is planned on the Don Sixto gold-silver project in Argentina over the next quarter. The Company will continue to work with provincial authorities and with representatives of other mining companies, to effect amendment to the 2007 legislation that banned the use of cyanide in mining operations in Mendoza Province.



(ii) Inferred mineral resource estimate of 1,098,000 metric tons containing 371,000 ounces gold at a grade of 10.5 g/t and 19.2 million ounces silver at a grade of 545 g/t for 646,000 ounces gold equivalent at a grade of 18 g/t gold equivalent. Gold equivalent is calculated by dividing the silver assay result by 70, adding it to the gold value and assuming 100% metallurgical recovery (see news release NR 09-14 dated July 8, 2009).(iii) Inferred mineral resource estimate of 449.9 million tonnes from the oxide and gold-copper zone contains 8.7 million ounces gold at a grade of 0.6 g/t and 375.9 million tonnes from the gold-copper zone only contains 2 billion pounds of copper at a grade of 0.25% (see news release NR 09-09 dated March 24, 2009).



You are invited to visit the Exeter web site at www.exeterresource.com.

EXETER RESOURCE CORPORATION

Bryce Roxburgh, President and CEO

For more information on Mining in Argentina, visit our website: http://www.argentinamining.com/

Exeter Reports High Grade Resource Estimate for Cerro Moro

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2009) - Exeter Resource Corporation (TSX VENTURE:XRC)(NYSE Amex:XRA)(FRANKFURT:EXB) ("Exeter" or the "Company") is pleased to provide the first National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for its Cerro Moro gold-silver property in Santa Cruz Province, Argentina. The inferred mineral resource estimate totals 646,000 ounces gold equivalent(i), at a grade of 18 grams per tonne ("g/t") gold equivalent(i) (0.52 ounces per ton). The resource estimate is significantly impacted by the bonanza grades from the Escondida vein. Escondida contributes 518,000 ounces gold equivalent(i) at a grade of 34 g/t gold equivalent(i) (0.99 ounces per ton) (324,000 ounces of gold and 13.6 million ounces of silver).

The total Cerro Moro mineral resource estimate of 646,000 ounces gold equivalent comprises 371,000 ounces gold and 19.2 million ounces silver at a grade of 10.5 g/t gold (0.30 ounces per ton ("oz/ton")) and 545 g/t silver (15.81 oz/ton). This calculation uses a geological cut-off grade of 2 g/t gold (0.06 oz/ton) for the Escondida vein and 150 g/t silver (4.35 oz/ton) for the Esperanza and Gabriela veins.

The independent mineral resource estimate was prepared by Snowden Mining Industry Consultants Limited ("Snowden"), in accordance with CIM guidelines (CIM 2005) which have been adopted as part of NI 43-101. Emphasis was placed on the Escondida, Loma Escondida, Esperanza and Gabriela veins which were deemed to have sufficient drill spacing and data quality to estimate inferred mineral resources.

Two mineral resource estimates were prepared for the Escondida zone (which included the Loma Escondida zone): (i) a high grade option using a nominal 4 g/t gold (0.12 oz/ton) cut-off in the definition of the mineralization shells, and (ii) a lower grade option using a nominal 2 g/t gold (0.06 oz/ton) cut-off grade. The silver rich Esperanza and Gabriela zones were modelled using a nominal 150 g/t silver (4.35 oz/ton) cut-off in the definition of the mineralization shells, which is broadly equivalent to the 2 g/t gold option for Escondida. Snowden stresses that the cut-off grades used in the definition of the domains are geological in nature and are not economic cut-off grades. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Inferred Mineral Resource for Escondida, Esperanza and Gabriela. These figures are based on the Escondida zone lower grade option (2 g/t gold cut-off grade) and the Esperanza / Gabriela zones utilising a 150 g/t silver cut-off.

---------------------------------------------------------------------------
Gold
Equivalent Gold
Metric Gold Silver Grade(i) Gold Silver Equivalent
Zone tons (g/t) (g/t) (g/t) (ounces) (ounces) Ounces(i)
---------------------------------------------------------------------------
Esperanza
/Gabriela 617,000 2.4 285 6 47,000 5,647,000 127,000
---------------------------------------------------------------------------
Escondida 481,000 21.0 878 34 324,000 13,579,000 518,000
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Total 1,098,000 10.5 545 18 371,000 19,227,000 646,000
---------------------------------------------------------------------------
(i) Note: Gold equivalent grade is calculated by dividing the silver assay
result by 70, adding it to the gold value and assuming 100% metallurgical recovery.

Inferred Mineral Resource for Escondida based on the high grade option (4 g/t gold cut-off grade).

---------------------------------------------------------------------------
-------------------------------Gold
-------------------------------Equivalent Gold
-----Metric Gold Silver Grade(i) Gold Silver Equivalent
Zone tons (g/t) (g/t) (g/t) (ounces) (ounces) Ounces(i)
---------------------------------------------------------------------------
Escondida 353,000 26.1 1,080 42 297,000 12,260,000 472,000
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Total 353,000 26.1 1,080 42 297,000 12,260,000 472,000
---------------------------------------------------------------------------

Click Here for a map showing the location of Escondida, Loma Escondida, Esperanza and Gabriela veins - highlighting the drill holes at the other veins as well: http://www.exeterresource.com/images/gallery/plans/Plan_73.pdf

Exeter President, Bryce Roxburgh, stated "The Cerro Moro resource estimate is very high grade with a contained gold-silver inventory sufficient to take the project to the next level. The grade is enhanced by an exceptional by-product silver credit that comprises 43 percent of the gold-equivalent resource.

"Exeter is now considering a start-up mining project which would produce 100,000(ii) ounces per year gold equivalent. We believe that we will be in a position to make a development decision once we have an indicated mineral resource estimate which supports a minimum of three years of initial production. Inferred mineral resources can then be progressively upgraded to a higher category as mining progresses. The Escondida zone, with the high grade option providing 353,000 metric tons at a gold equivalent grade of 42 g/t (26.1 g/t gold and 1,080 g/t silver), is our obvious priority for initial mining.

Click Here for a longitudinal section of Escondida: http://www.exeterresource.com/images/gallery/plans/Plan_74.pdf

"To upgrade the inferred mineral resource to the indicated mineral resource category, we have initiated an 18,000 metre (59,040 feet) infill drill program focussed on the Escondida zone. To date we have drilled 94 new infill holes for a total of 6,650 metres (21,812 feet). This program, expected to continue through to November, is designed to facilitate a Q1-2010 announcement of an indicated mineral resource estimate. Initial assay results for these new holes are expected to be available later in July.

Click Here for a map showing the location of the 94 new drill holes at Escondida: http://www.exeterresource.com/images/gallery/plans/Plan_75.pdf

"Exeter will now commence preliminary detailed in-house scoping work using this new inferred mineral resource estimate, to examine which veins will be amenable to potential open pitting and those that will be best approached utilising underground extraction methods.

"Exeter has clearly demonstrated the levels of silver at Escondida and Gabriela, with the high silver recoveries achieved in our metallurgical test work (greater than 90%; August 13, 2008 news release). Lower level gold equivalent cut-offs may therefore be appropriate in our next resources estimate for the potential shallow open pit-able resources (30 to 70 metres deep from surface), as well as higher level gold equivalent cut-offs for the potential underground resource scenarios.

"It is envisaged that the application of revised cut-offs along with additional drilling will potentially enable the inclusion of sections of the prospects not included in this resource estimate (e.g.: Escondida Far East and sections of Esperanza and Gabriela) along with the addition of new resources from some of the other lower grade partially drilled gold-silver veins on the project (e.g.: Deborah and Nini).

"The best potential for expanding the high grade Escondida zone resource is immediately northwest along strike, where no previous drilling has been carried out. Detailed magnetic data and geological mapping indicates a potential 2 kilometre long (1.2 mile) target extension. The drill target falls entirely on the Fomicruz joint venture lands (see news release dated March 3, 2009). We now have approval to drill on this tenement with initial scout drilling scheduled for early August.

"We have essentially completed base line environmental studies at Cerro Moro. These studies will form the basis of environmental permitting. Metallurgical, infrastructure and engineering studies will continue through the next three quarters, to yield a scoping study following the resources estimate in Q1-2010."

(ii) A feasibility study has not been completed and there is no certainty the proposed operations will be economically viable.

Resource Estimate Authorship and Methodology

The independent resource estimate was prepared by Dr. S. C. Dominy, FGS (CGeol) FAusIMM (-CP) MIMMM (CEng), General Manager (UK) and Executive Consultant, and Mr. C. J. Bargmann, FGS (CGeol) MAusIMM Pr.Sci.Nat, Principal Consultant, both of Snowden UK. Both Dr. Dominy and Mr. Bargmann are "independent" and "qualified persons" as defined in NI 43-101. Snowden is currently finalising a NI 43-101 compliant technical report, which will be available on SEDAR at www.sedar.com shortly.

Snowden adopted a polygonal-type approach to the resource estimate, whereby the mean of all drill and trench intersections within the domain boundary was applied to that domain. Extreme high-grades were top-cut to reduce their effect, based on statistical analysis. Domain wireframes were constructed by careful geological interpretation, mindful of the gross continuity of the vein system being modelled. All intersections within a domain wireframe were used to estimate grade. Snowden noted that the Escondida, Loma Escondida, Esperanza and Gabriela zones are marked by the presence of several high grade mineralization shoots. The boundaries of these shoots with the surrounding low grade material are marked by a distinct grade drop. Snowden used the gold and silver grades as a key parameter in defining the geological domain boundaries of the high grade mineralization shoot domains. Snowden did not recommend a geostatistical/block modelling estimation approach at this stage. Geostatistical estimation requires the definition of the nugget effect and continuity ranges from variography which the wide data spacing does not currently permit. The current infill drill programme includes close spaced drilling designed to assess the short range geological and grade variability which should facilitate the definition of relevant geostatistical parameters.

Click Here for the detailed tables of the Resources Estimated: http://www.exeterresource.com/images/gallery/plans/Plan_76.pdf

Matthew Williams, Exeter's Exploration Manager and a "qualified person" within the definition of that term in NI 43-101, has supervised the preparation of the technical information contained in this news release.

About Exeter

Exeter Resource Corporation is a Canadian mineral exploration company focused on the discovery and development of gold and silver properties in South America. The Company has C$33 million in its treasury.

The Caspiche gold-copper discovery(iii) is situated in the Maricunga gold district of Chile, between the Refugio mine (Kinross Gold Corp.) and the giant Cerro Casale gold deposit (Barrick Gold Corp. and Kinross Gold Corp.). Drilling with four rigs has just finished for the season, with assays awaited for two drill holes. A second NI 43-101 compliant resources estimate is scheduled for release in September 2009.

Exeter's priority on its Cerro Moro high grade gold-silver property in Argentina is to advance drilling, engineering, environmental and infrastructure studies ahead of a scoping study in 2010. The goal is to develop a very profitable high grade, low capital cost mining operation on the property.

No site work is planned on the Don Sixto gold-silver project in Argentina over the next quarter. The Company will continue to work with provincial authorities and with representatives of other mining companies, to effect amendment to the 2007 legislation that banned the use of cyanide in mining operations in Mendoza Province.

(iii) Inferred mineral resource of 449.9 million tonnes contains 8.7 million ounces gold at a grade of 0.6 g/t and 375.9 million tonnes contains 2 billion pounds of copper at a grade of 0.25%(see news release NR 09-09 dated March 24, 2009).

You are invited to visit the Exeter web site at http://www.exeterresource.com/ .

EXETER RESOURCE CORPORATION

Bryce Roxburgh, President and CEO

Safe Harbour Statement - This news release contains "forward-looking information" and "forward-looking statements" (together, the "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including the Company's belief as to the extent and timing of its drilling programs and exploration results, the potential tonnage, grades and content of deposits, timing, establishment and extent of resources estimates, potential for financing its activities, potential production from its properties and expected cash reserves. These forward-looking statements are made as of the date of this news release. Users of forward-looking statements are cautioned that actual results may vary from the forward-looking statements contained herein. While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee of the Company's future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements.
Such factors and assumptions include, amongst others, the effects of general economic conditions, the price of gold and copper, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information. In addition, there are also known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters of the Company with certain other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of the Company's common share price and volume; tax consequences to U.S. investors; and other risks and uncertainties, including those described in the Company's Annual Information Form for the financial year ended December 31, 2008, dated March 27, 2009 filed with the Canadian Securities Administrators and available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.


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.

For more information, please contact

Exeter Resource Corporation
B. Roxburgh
President
604.688.9592 or Toll-free: 1.888.688.9592
604.688.9532 (FAX)

or

Exeter Resource Corporation
Rob Grey
VP Corporate Communications
604.688.9592 or Toll-free: 1.888.688.9592
604.688.9532 (FAX)
exeter@exeterresource.com
http://www.exeterresource.com/

---
For more information on Mining in Argentina, visit our website: http://www.argentinamining.com