Exeter Resource Corporation

Exeter Resource Corporation

March 29, 2005 07:00 ET

Exeter Drills Grade at Mandibula Zone, La Cabeza


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: EXETER RESOURCE CORPORATION

TSX VENTURE SYMBOL: XRC
FRANKFURT SYMBOL: EXB

MARCH 29, 2005 - 07:00 ET

Exeter Drills Grade at Mandibula Zone, La Cabeza

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 29, 2005) - Exeter
Resource Corporation (TSX VENTURE:XRC)(FWB:EXB) announces that it has
received results for the final three reverse circulation percussion
holes completed for the La Cabeza prefeasibility study. All three holes
were drilled in the Mandibula Zone, as follow up to high grade surface
samples recently reported. The best hole was LCP 136 that returned an 18
metre intercept, beginning at surface that averaged 12.1 g/t gold,
including 3 metres at an average grade of 55.0 g/t gold.



La Cabeza Gold Project - Mandibula Zone
Reverse Circulation Prefeasibility Drilling Program

--------------------------------------------------------------
Hole Number From To Interval Gold Grade
--------------------------------------------------------------
(metres) (metres) (metres) (g/t)(i)
--------------------------------------------------------------
LCP 134 0 57(EOH(ii)) 57 1.8
--------------------------------------------------------------
including 27 36 9 3.0
--------------------------------------------------------------
63 69 6 1.1
--------------------------------------------------------------
LCP 135 0 54 54 1.1
--------------------------------------------------------------
including 57 60(EOH(ii)) 3 1.0
--------------------------------------------------------------
LCP 136 0 18 18 12.1
--------------------------------------------------------------
including 3 6 3 55.0
--------------------------------------------------------------

(i) Provisional results from 3 metre assay intervals.
(ii) EOH = end of hole


Chairman Yale Simpson said "We continue to confirm that zones of
relatively high grade gold mineralization are present in the upper
levels of the La Cabeza gold system. We anticipate that the availability
of such high grade, near surface mineralization will favourably impact
the upcoming financial model."

LCP 134 was drilled north of Channel 5, which averaged 34 metres at 2.3
g/t gold. LCP 135 tested the area of rock chip traverses 2 and 3, which
provided zones of 6 metres at 8.7 g/t gold, 32 metres at 1.8 g/t gold,
10 metres at 1.8 g/t gold and 32 metres at 5.0 g/t gold. LCP 136 tested
the area of rock chip traverse 6, which averaged 26 metres at 3.4 g/t
gold, and rock chip traverse 8 that returned two zones, 6 metres at 1.6
g/t gold and 6 metres at 1.8 g/t gold.

The La Cabeza drill rig has moved on to test exploration targets that
are either new mineralized zones or faulted extensions to known
mineralization, none of which will form part of the current
prefeasibility study.

Sampling and Assaying Procedures

All samples have been prepared at the ALS Chemex preparation facility in
Mendoza and assayed by fire assay (50 g. charge) at the ALS Chemex
laboratory in Chile. Check assaying of all samples assaying greater than
1.0 g/t gold will be completed by ALS Chemex. Standard, blank and
duplicate samples are used throughout the sample sequence as checks.

The higher grade intercepts will be re-assayed in one metre intervals
riffled from coarse rejects which are maintained on site. In addition,
all composite samples that assayed greater than 10 g/t gold will be
re-assayed in one metre intervals by duplicate screen fire assay to
assess for coarse gold.

Qualified Person

Bryce Roxburgh, a "qualified person" within the definition of that term
in National Instrument 43-101, Standards of Disclosure for Mineral
Projects, has supervised the preparation of the technical information
contained in this news release.

About Exeter

Exeter is a Canadian company exploring epithermal gold-silver and
porphyry copper-gold projects in Argentina. Exploration at Exeter's most
advanced project, La Cabeza, in Mendoza Province, has delineated an
inferred resource of 720,000 ounces of gold, comprising 12.0 million
tonnes grading 1.8 g/t gold, at a cut-off grade of 0.5 g/t gold. The
field program for the prefeasibility study at La Cabeza is now complete,
enabling manpower and resources to shift to exploration for new zones of
ore grade mineralization.

Exeter recently announced the discovery of significant gold-silver
mineralization at Cerro Puntudo, Patagonia. Follow up diamond drilling
is scheduled to commence next month. Elsewhere exploration by Exeter is
developing additional exploration targets on properties under option
from Cerro Vanguardia S.A., a subsidiary of AngloGold Ashanti.

You are invited to visit the Exeter web site at www.exeterresource.com.

EXETER RESOURCE CORPORATION

Bryce Roxburgh, President and CEO


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Exeter Resource Corporation
    Yale Simpson
    Chairman
    (604) 688-9592 or Toll Free: 1-888-688-9592
    (604) 688-9532 (FAX)
    or
    Exeter Resource Corporation
    Rob Grey
    Investor Relations
    (604) 688-9592 or Toll Free: 1-888-688-9592
    (604) 688-9532 (FAX)
    exeter@exeterresource.com
    www.exeterresource.com
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this news release.