Exeter Resource Corporation announces bought deal equity financing



    
    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    Trading Symbol: TSXV:XRC
    

    VANCOUVER, Feb. 6 /CNW/ - Exeter Resource Corporation (TSXV:XRC, NYSE
Alternext US:XRA, Frankfurt: EXB) (the "Company") announced today that it has
entered into an agreement with a syndicate of underwriters led by Canaccord
Capital Corporation and BMO Capital Markets to sell an aggregate of 10,500,000
common shares of the Company at a price of $2.40 for gross proceeds of
$25,200,000 on a bought deal basis (the "Offering").
    The Company will grant the Underwriters an option (the "Over-Allotment
Option") to purchase up to an additional 1,575,000 Common Shares (the "Option
Shares") at a price of C$2.40 per Common Share to cover over-allotments. The
Over-Allotment Option shall be exercisable by the Underwriters, in whole or in
part, any time up to 30 days following the closing of the Offering.
    The Company intends to use the net proceeds of the Offering for
exploration and development of the Company's properties in Argentina and Chile
and for general corporate purposes. The Common Shares to be issued under this
offering will be offered by way of a short form prospectus in applicable
provinces in Canada and in the United States on a private placement basis
pursuant to an exemption from the registration requirements of the United
States Securities Act of 1933, as amended (the "1933 Act"), and such other
jurisdictions as may be agreed upon by the Company and the underwriting
syndicate.
    The offering is scheduled to close on or about February 26, 2009 and is
subject to certain conditions including, but not limited to, the receipt of
all necessary approvals including the approval of the TSX Venture and the
securities regulatory authorities.
    The common shares will not be and have not been registered under the 1933
Act and may not be offered or sold in the United States absent registration or
applicable exemption from the registration requirements. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the Common Shares in any jurisdiction in which
such offer, solicitation or sale would be unlawful.

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

    
    EXETER RE

SOURCE CORPORATION Bryce Roxburgh, President and CEO Safe Harbour Statement - This news release contains "forward-looking information" and "forward-looking statements" (together, the "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including statements related to the offering, over allotment, use of proceeds and closing date.. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to vary from any future results expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from the forward-looking statements include, among others, risks associated with the timing of the financing, pricing; fluctuations in metal prices; currency fluctuations; dilution; the volatility of the Company's common share price and volume; and tax consequences to U.S. investors; and other risks and uncertainties, including those described in the Company's Annual Report on Form 40-F for the financial year ended December 31, 2007, dated March 31, 2008 filed with the Canadian Securities Administrators and available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

For further information:

For further information: B. Roxburgh, President or Rob Grey, VP
Corporate Communications, Tel: (604) 688-9592, Fax: (604) 688-9532, Toll-free:
1-888-688-9592, Suite 1260, 999 West Hastings St., Vancouver, BC, Canada, V6C
2W2, exeter@exeterresource.com

Organization Profile

EXETER RESOURCE CORPORATION

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