Exeter Files Amended Technical Report on Caspiche

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 19, 2014) - Exeter Resource Corporation (NYSE MKT:XRA)(TSX:XRC)(FRANKFURT:EXB) ("Exeter" or the "Company") announces that as a result of a review by the British Columbia Securities Commission, further to its press releases dated May 6 and June 20, 2014 (collectively, the "News Releases"), it has filed an amended technical report prepared by Santiago based engineering consultancies, NCL Ingeniería y Construcción and Alquimia Conceptos S.A. titled "Amended NI 43-101 Technical Report on the Caspiche Project, Atacama Region, Chile" dated December 19, 2014 with an effective date of April 30, 2014 (the "PEA Report"). This preliminary economic assessment ("PEA") report is available for review under the Company's profile on SEDAR (www.sedar.com) and will be posted on the Company's website (www.exeterresource.com).

The Company filed the PEA Report to respond to items of non-compliance in the technical report dated June 20, 2014 (the "Original Report") identified by the British Columbia Securities Commission, as a result of a review of the Company's technical disclosure.

In particular, items of non-compliance included the mineral reserves from a preliminary feasibility study ("PFS") filed in January 2012 without including a current analysis, at pre-feasibility level, to support such mineral reserves and did not provide sufficient discussion as required by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). As a result the mineral reserves disclosed in the Original Report do not comply with the definitions of "preliminary economic assessment" and "mineral reserves" contained in NI 43-101. Consequently, all references to the PFS and mineral reserves have been removed from the PEA Report. The Company retracts the 2012 PFS and its mineral reserves, which are no longer current and valid, and advises that only the PEA Report should be relied upon going forward.

The staged, lower CAPEX, potential development options for Caspiche identified previously in the Original Report and the News Releases remain unchanged in the PEA Report.

The economic analysis contained in the PEA Report is considered preliminary in nature. No inferred mineral resources form part of the PEA studies and no mineral reserves for the PEA have been established. Mineral resources are not mineral reserves and have no demonstrated economic viability. There is no certainty that economic forecasts outlined in the PEA will be realized. The PEA may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant factors.