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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 raises C$7.5 million via fully exercised over-allotment option

4th Dec 2009, 3:19 pm Exeter Resource raises C$7.5 million via fully exercised over-allotment option

Exeter Resource Corporation (AMEX: XRA, TSX: XRC, Frankfurt: EXB) announced that the underwriting syndicate of its recently completed equity financing raised a further US$7.5 million through the full exercise of the over-allotment option.

Early last week, the company reported the closing of the C$50 million equity financing announced in November under which Exeter Resource 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.

Today it said the syndicate acquired an additional 1.282 million new Exeter shares, bringing the aggregate gross proceeds of the equity financing to C$57.52 million. The South America focussed gold junior intends to use the proceeds for exploration and development of its properties in Argentina and Chile in addition to general corporate purposes.

Exeter is currently formulating an expanded exploration and development plan for Cerro Moro in Argentina. The project has an initial inferred minerals resource of 646,000 oz (ounces) of gold equivalent graded at 18 g/t (grams per tonne) of gold equivalent. Over 200 infill holes have been drilled on the Escondida vein structure to upgrade sector of the inferred resource that might be scheduled for mining.

The company’s other principal project, The Caspiche in Chile, is estimated to have a resource of 1,117 Mt (million tonnes) at a grade of 0.55 g/t gold and 1.12 g/t silver, including 1,017 Mt at a grade of 0.22% copper, equating an in-situ resource of 19.6 Moz (million ounces) of gold, 40 Moz of silver and 4.84 billion lbs (pounds) of copper for a total of 32.4 Moz of gold equivalent. Exeter has began the latest drilling programme in October, targeting Q3-2010 to update the NI43-101 compliant mineral resource estimate.

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