Exeter Resource Corporation : Exeter Begins Water Exploration

Exeter Resource Corporation : Exeter Begins Water Exploration
Drilling for Its Caspiche Gold-Copper Project, Chile 
VANCOUVER, BC -- (Marketwire) -- 01/09/13 --  Exeter  Resource
Corporation (NYSE-MKT: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
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
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
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
properties which offer 
near term discovery potential. 
The  Caspiche  gold-copper  discovery  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
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
the Company's belief as  to the extent and  timing of its drilling
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,
establishment and extent of resources estimates, potential for
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
These forward-looking statements are made as of the date of this
release.  Readers are cautioned  not to place  undue reliance on
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
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
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
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
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
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
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
standards, unless 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
ADEQUACY OR ACCURACY OF                                THIS NEWS
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants
(i) the releases contained herein are protected by copyright and    
other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and     
originality of the information contained therein. 
Source: Exeter Resource Corporation via Thomson Reuters ONE 
For further information, please contact:
B. Roxburgh
Rob Grey
VP Corporate Communications
Tel: 604.688.9592
Fax: 604.688.9532
Toll-free: 1.888.688.9592 
Suite 1660, 999 West Hastings St.
Vancouver, BC Canada V6C 2W2
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