Exeter Resource Corporation

Exeter Resource Corporation

September 19, 2005 10:00 ET

Exeter Uses Australian RAB Drill to Search for Gold Under Sand at La Cabeza

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 19, 2005) - Exeter Resource Corporation (TSX VENTURE:XRC)(FWB:EXB) has significantly advanced its ability to explore cost-effectively for gold under the shallow sand cover at its La Cabeza gold project, with the arrival on site of a rotary air blast ("RAB") drill rig from Australia.

RAB drilling has been employed very successfully as a principal exploration tool in similar conditions in Australia, where it has been responsible for several major gold discoveries including the large, Kanowna Belle, Jundee and Plutonic gold mines in Western Australia. It is much faster and less expensive than conventional core or reverse circulation drilling and will permit Exeter to drill patterns of drill holes, with which to home in on hidden deposits at La Cabeza, much more quickly and cost-effectively than would otherwise be the case. Following the identification of the new gold zones, reverse circulation percussion drilling will be used to delineate resources.

An initial, orientation program of trial RAB drilling has been completed successfully in an area of sand cover at La Cabeza. A total of 83 holes for 1,281 metres were drilled on 100 metre grid centres in up to 15 metres of sands, followed by the sampling of the top three metres of bedrock. Thirteen of the holes intersected anomalous gold in bedrock. Stage 1 RAB drilling will total 500 holes, with an additional 300 holes planned for Stage 2 follow-up. A total of 8,000 metres will be drilled in the two stages.

As reported on June 30, 2005, La Cabeza currently is estimated to contain an indicted resource of 390,000 ounces of gold and an inferred resource of 500,000 ounces of gold(i). These estimates are expected to change with the results of an three-rig, nine-month, exploration drilling program, now underway to up-grade the inferred resource and discover new ore zones at La Cabeza.

Qualified Person

Matthew Williams, Exeter's Exploration Manager and 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 technically-advanced, Canadian exploration company, focused on the discovery and development of epithermal gold/silver and porphyry copper/gold projects in Argentina and Chile. The three-rig drilling program at the La Cabeza gold project, in Mendoza Province, Argentina, will be complemented by engineering, metallurgical, hydrological, environmental and continuing economic evaluation work.

In the prospective, Patagonia region of Argentina, Exeter has a strategic partnership with Cerro Vanguardia S.A, an AngloGold Ashanti subsidiary. The agreement provides Exeter with an option over 25 epithermal gold-silver properties.

In Patagonian Chile, Exeter has a strategic agreement with Rio Tinto Mining and Exploration Limited over epithermal gold prospects in an 800 square kilometre area. Prospecting of epithermal gold targets is currently underway.

(i)See 43-101 Technical Report dated July 27, 2005


Bryce Roxburgh, President

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission ("SEC") permits mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this news release, such as "inferred resource", that the SEC guidelines strictly prohibit us from including in our filing with the SEC. U.S. investors are urged to consider closely the disclosure contained in our Form 20-F Registration Statement, File No. 000-51016. You can review and obtain copies of our filings from the SEC's website at www.sec.gov/edgar.shtml.

Safe Harbour Statement - This news release may contain certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements reflect our 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 Exeter.

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

Contact Information

  • Exeter Resource Corporation
    Bryce Roxburgh
    (604) 688-9592 or Toll Free: 1-888-688-9592
    Exeter Resource Corporation
    Rob Grey
    Investor Relations
    (604) 688-9592 or Toll Free: 1-888-688-9592
    (604) 688-9532 (FAX)