Exeter Resource Corporation

Exeter Resource Corporation

November 13, 2007 18:34 ET

Exeter Grants Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2007) - Exeter Resource Corporation (TSX VENTURE:XRC)(AMEX:XRA)(FRANKFURT:EXB) ("Exeter" or the "Company") is pleased to announce that it has granted, subject to TSXVenture and shareholder approval, incentive stock options to directors, officers and employees to purchase 725,000 common shares of the Company. The options have a term of five years and are exercisable at a price of $4.37per share. The options were granted under and are subject to the terms and conditions of the Company's January 21, 2004 Stock Option Plan, as amended.

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.

At Cerro Moro (100% Exeter), one of 12 epithermal gold and silver properties that constitute a strategic agreement with Cerro Vanguardia S.A., drilling to define a high grade gold-silver deposit amenable to open pit mining will continue through 2007-2008.

In Chile, Exeter is preparing a 10,000 metre drilling program on the Caspiche gold porphyry project, located between the Refugio mine (Kinross Mining) and the giant Cerro Casale gold project (Barrick Gold and Kinross Mining). Although rig availability is extremely tight at present, the Company expects to secure at least two rigs following the Christmas break, with a view to completing the entire program this field season.

As a result of recent political developments in Mendoza Province, Argentina, the further development of the advanced Don Sixto Gold Project has been put on hold. The Company recently filed suit in the Mendoza Courts challenging the constitutionality of the new legislation which has the effect of banning conventional mining in the province. The Company will, however, continue to work with authorities in Mendoza, and with representatives of other mining companies, to effect legislative amendment.

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


Bryce Roxburgh, President and CEO

Safe Harbour Statement - This news release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995, including the Company's belief as to the timing of the commencement and completion of its drilling programs. These statements reflect the Company's current belief and are based upon currently available information. Actual results could differ materially from those described in this news release as a result of numerous factors, some of which are outside of the control of the Company.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Exeter Resource Corporation
    B. Roxburgh
    (604) 688-9592 or Toll Free: 1-888-688-9592
    Exeter Resource Corporation
    Rob Grey
    VP Corporate Communications
    (604) 688-9592 or Toll Free: 1-888-688-9592
    (604) 688-9532 (FAX)
    Email: exeter@exeterresource.com
    Website: www.exeterresource.com