Exeter Resource Announces New Strategy for the Caspiche Gold-Copper Project

Exeter Resource Corporation

is pleased to announce it is evaluating a new approach for the potential development of the Caspiche gold-copper deposit in Chile. The Company will assess options for open pit mining the near surface oxide zone, and subsequent underground mining of the central, higher grade portion of the underlying gold copper sulphide deposit. The goal is to investigate lower capital cost and scaleable mining alternatives that are more flexible and appropriate to economic conditions in the foreseeable future than the large scale, capital intensive super pit scenario proposed in the January 2012 pre-feasibility study. The new approach is to consider both a standalone open pit oxide gold operation as well as a similar initial operation that then later combines with underground mining of the central higher grade gold copper sulphide core. Santiago based engineering consultancies, NCL Construccion y Ingenieria ("NCL") and Alquimia Conceptos S.A. ("Alquimia") are conducting the initial studies. Exeter's President/CEO Wendell Zerb states "Our project is unique in that it provides development optionality. Unlike a number of deposits in the Maricunga region of Chile, Caspiche has a surface oxide gold