Exeter Begins Water Exploration Drilling for Its Caspiche

Exeter Begins Water Exploration Drilling for Its Caspiche Gold-Copper
Project, Chile 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/09/13 -- Exeter
Resource Corporation (NYSE MKT:XRA)(NYSE
Amex:XRA)(TSX:XRC)(FRANKFURT:EXB) - ("Exeter" or the "Company") is
pleased to announce the commencement of water drilling for its
Caspiche gold-copper project located in northern Chile. The drilling
campaign is taking place at Cuenca One, one of two water exploration
tenements owned by the Company. The estimated cost of the drilling
program is CAD$1.3 million.  
The objective of the drilling program is to identify and evaluate
water sources capable of meeting the needs of both the heap leach
stage and the follow-on sulphide stage of a potential mine
development at Caspiche. Two water exploration holes were drilled in
2012 at Cuenca One. The first hole was abandoned due to poor drilling
conditions and the second was prematurely terminated at a depth of
250m within "damp gravels", well above the targeted depth of the
hole. The termination of the drilling program last year was due to
the onset of winter weather conditions. 
Given that major alpine reservoirs in the region are typically
located at depths of some 500m and the fact that "damp gravels" were
encountered at shallower depths in earlier drilling, the Company is
optimistic that water will be encountered in the current program.  
Exeter is also conducting a preliminary evaluation of a second water
exploration tenement which was recently granted to the Company. In
addition, as previously reported, Exeter continues to investigate the
Rio Penas Blancas and Rio Aguas Dulces areas, where the Company has
an option over granted surface water rights that total 300 litres a
second from river flows into Laguna Verde. 
About Exeter 
Exeter is a Canadian mineral exploration company focused on the
exploration and development of the Caspiche project in Chile. The
project is situated in the Maricunga gold district, between the
Maricunga mine (Kinross Gold Corp.) and the Cerro Casale gold-copper
deposit (Barrick Gold Corp. and Kinross Gold Corp.). The Company is
also evaluating new opportunities with the objective of securing
properties which offer near term discovery potential.  
The Caspiche gold-copper dis
covery represents one of the largest
mineral discoveries made in Chile in recent years. Exeter has
completed pre-feasibility studies that demonstrate the potential for
commercializing this world class discovery. The Company currently has
cash reserves of CAD$55 million and no debt. 
You are invited to visit the Exeter web site at
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 in relation to the Company's belief as
to the extent and timing of its drilling programs, various studies
including pre-feasibility studies, 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, availability of
water, power, surface rights and other resources, permitting
submission and timing, potential to acquire new projects and expected
cash reserves. These forward-looking statements are made as of the
date of this news release. Readers are cautioned not to place undue
reliance on forward-looking statements, as there can be no assurance
that the future circumstances, outcomes or results anticipated in or
implied by such forward-looking statements will occur or that plans,
intentions or expectations upon which the forward-looking statements
are based will occur. 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 that such future events will occur and are subject to
risks, uncertainties, assumptions and other factors which could cause
events or outcomes to differ materially from those expressed or
implied by such forward-looking statements.  
Such factors and assumptions include, among 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 negotiations and
misjudgments in the course of preparing forward-looking information.
In addition, there are 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;
including risks associated with the failure to satisfy the
requirements of the Company's agreement with Anglo American on its
Caspiche project which could result in loss of title; 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, 2011 dated
March 30, 2012 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. 
Cautionary Note to United States Investors - The information
contained herein and incorporated by reference herein has been
prepared in accordance with the requirements of Canadian securities
laws, which differ from the requirements of United States securities
laws. In particular, the term "resource" does not equate to the term
"reserve". The Securities Exchange Commission's (the "SEC")
disclosure standards normally do not permit the inclusion of
information concerning "measured mineral resources", "indicated
mineral resources" or "inferred mineral resources" or other
descriptions of the amount of mineralization in mineral deposits that
do not constitute "reserves" by U.S. standards, u
nless such
information is required to be disclosed by the law of the Company's
jurisdiction of incorporation or of a jurisdiction in which its
securities are traded. U.S. investors should also understand that
"inferred mineral resources" have a great amount of uncertainty as to
their existence and great uncertainty as to their economic and legal
feasibility. Disclosure of "contained ounces" is permitted disclosure
under Canadian regulations; however, the SEC normally only permits
issuers to report mineralization that does not constitute "reserves"
by SEC standards as in place tonnage and grade without reference to
unit measures.  
Exeter Resource Corporation
B. Roxburgh
604.688.9592 or Toll Free: 1.888.688.9592
604.688.9532 (FAX) 
Exeter Resource Corporation
Rob Grey
VP Corporate Communications
604.688.9592 or Toll Free: 1.888.688.9592
604.688.9532 (FAX) 
Exeter Resource Corporation
Suite 1660, 999 West Hastings St.
Vancouver, BC Canada V6C 2W2
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