Exeter Resource Corporation

Advancing the world-class Caspiche project in Chile

Caspiche, Chile

Discovery History

Following prior exploration and drilling of the property by Anglo during the 1980’s and Newcrest during the 1990’s the property lay dormant until Exeter undertook an option agreement over the area in December 2005.

Building on detailed mapping and geophysics, in May 2007 Exeter drilled CSR-013, the final hole of the 2006/2007 season and the first Exeter drill hole testing the porphyry potential of the Caspiche Porphyry. This discovery hole reached 344 meters which was the ultimate capacity of the drill rig and intersected 304 metres (1,003 ft) grading 0.9 grams/tonne (“g/t”) gold (0.026 oz/ton).

Additional drilling confirmed the existence of a large previously untested higher grade porphyry intrusion with intersections such as 792.5 m @ 0.96 g/t Au and 0.4% Cu from hole CSD-16 and 1,234 m grading 0.89 g/t Au and 0.33% Cu which included 708 m grading 1.22 g/t Au and 0.42% Cu from hole CSD-032.