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Additional Information
Market: TSX, AMEX
Sector: General Mining - Gold
EPIC: XRC
Latest Price: C$2.05  (-1.21% Descending)
52-week High: C$5.40
52-week Low: C$1.72
Market Cap: C$180.42M
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Exeter Resource Corporation
www.exeterresource.com

Exeter, a Canadian exploration company, controls 100% of the world class Caspiche gold-copper discovery in Chile. The Company has a treasury of $74 million and no debt.

Full Exeter Resource Corporation profile here
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Exeter Resource closes C$50 million equity financing

26th Nov 2009, 3:50 pm Exeter Resource closes C$50 million equity financing

Exeter Resource Corp  (AMEX: XRA, TSX: XRC) said it has closed the C$50 million equity financing announced earlier this month under which the company sold 8.55 million shares at C$5.85 to a syndicate of underwriters pursuant to a short form prospectus in Canada and a concurrent private placement to US institutional investors.

The underwriters have also been granted an over-allotment option to purchase up to an additional 1,282,500 shares at a price of C$5.85 per share.

The company intends to use the net proceeds of the offering for exploration and development of its properties in Argentina and Chile and for general corporate purposes.

Earlier this month Exeter reported new bonanza grade gold discoveries to the west of the previously known high grade mineralization on the Escondida vein at Cerro Moro, Santa Cruz Province, Argentina.

The Cerro Moro project is located in north-eastern Santa Cruz Province, approximately 70kms southwest of Puerto Deseado. The latest drilling has yielded bonanza rated gold grading. The total infill drilling programme has completed 165 diamond drill holes to date, recovering 15,000m of core samples for testing.

So far, Exeter’s drilling programme has yielded results from 24 new diamond drill holes across both the newly discovered mineralized zone and the nearby Escondida Far West sector. Of the 24 holes, 14 have returned significant results.

It s second principal asset is The Caspiche gold-copper porphyry discovery in Chile.

The Caspiche project represents the larger of the two. In September, Exeter published a NI 43-101 compliant resource statement for The Caspiche, which estimated in-situ inferred resources of 19.6 million ounces of gold, 137 million ounces of silver and 4.84 billion pounds of copper.

Recently the company began a new 20,000 meter drilling program at The Caspiche. The purpose of the program is to define further value in the National Instrument 43-101 compliant inferred mineral resource.

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