Exeter announces terms of equity financing

VANCOUVER, Nov. 10  /PRNewswire-FirstCall/ -- Exeter Resource Corporation (AMEX:XRA, TSX:XRC, Frankfurt: EXB or the "Company") is pleased to announce that in connection with its previously announced overnight marketed public offering on November 9, 2009 (the "Offering"), it has entered into an underwriting agreement with a syndicate of underwriters (the "Underwriters") to sell 8,550,000 common shares in the Company at a price of C$5.85 per share ("Common Shares") to raise gross proceeds of C$50,017,500 pursuant to a short form prospectus in Canada and a concurrent private placement to persons within the United States and to, or for the account or benefit of, U.S. persons (as such terms are defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "1933 Act")) that are institutional accredited investors. In addition, the Company has granted the Underwriters an over-allotment option to purchase up to that number of additional Common Shares equal to 15% of the Common Shares sold pursuant to the Offering, exercisable at any time up to 30 days from the closing of the Offering.

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.

The Offering is scheduled to close on or about November 26, 2009 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state of the United States in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the 1933 Act, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as such terms are defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements.

About Exeter

Exeter Resource Corporation is a Canadian mineral exploration company focused on the discovery and development of gold and silver properties in South America.

  EXETER RESOURCE CORPORATION

  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 the Company's belief as to the extent and timing of its drilling programs, various studies including 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 and expected cash reserves. These forward-looking statements are made as of the date of this news release. Users of forward-looking statements are cautioned that actual results may vary from the forward-looking statements contained herein. 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 of the Company's future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such factors and assumptions include, amongst 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 legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information. In addition, there are also 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; 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, 2008, dated March 27, 2009 filed with the Canadian Securities Administrators and available at http://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.

  NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
  DEFINED IN THE POLICIES OF THE TSX EXCHANGE) ACCEPTS RESPONSIBILITY FOR
  THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE


DATASOURCE: Exeter Resource Corporation



CONTACT:  B. Roxburgh, President or Rob Grey, VP Corporate

Communications, Tel: [phone], Fax: [phone], Toll-free:

1-888-688-9592, Suite 1260, 999 West Hastings St., Vancouver, BC, Canada, V6C

2W2, 

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