VANCOUVER, April 8 /CNW/ - Exeter Resource Corporation (NYSE-AMEX: XRA, TSX:XRC, Frankfurt:EXB - "Exeter" or the "Company") is aware of a news article quoting the Company's chief consulting geologist with respect to potential merger activity regarding the Company's Caspiche Project. The Company wishes to clarify that whatever comments were made were a matter of informal personal opinion by a consulting geologist and were not authorized by the Company nor does the Company endorse them. Specifically, the individual is not a spokesman for the Company on commercial matters. In addition, Exeter has a policy of not commenting on the potential future value of its share price and disclaims those statements entirely.
Exeter Resource Corporation is a Canadian mineral exploration company focused on the exploration and development of the Caspiche gold-copper project in Chile. The Company has C$43 million in its treasury. The Caspiche gold-copper discovery is situated in the Maricunga gold district of Chile, between the Refugio mine (Kinross Gold Corp.) and the Cerro Casale gold deposit (Barrick Gold Corp. and Kinross Gold Corp.). Drilling to expand and upgrade the existing resource is expected to continue until the onset of winter in May.
On March 24, 2010 Exeter completed the spin-out of its Argentine assets into Extorre Gold Mines Limited ("Extorre"), an independent public company listed on the TSX (TSX:XG), by plan of arrangement in order to unlock the value of the high grade Cerro Moro gold-silver project in Argentina. This will allow the focused Extorre group led by Dr. Eric Roth to advance the Cerro Moro project through economic studies and permitting without the distraction of the major Caspiche gold-copper project which remains with Exeter. Concurrently Extorre will also have greater ability to explore the other promising Argentine gold projects in its portfolio.
You are invited to visit the Exeter web site at www.exeterresource.com.
EXETER RESOURCE CORPORATION
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, the Company's belief as to the extent and timing of its drilling programs, various studies including engineering, environmental, infrastructure and other studies, and exploration results, budgets for its exploration programs, the potential tonnage, grades and content of deposits, timing, establishment and extent of resources estimates, potential for financing its activities, potential production from and viability of its properties, permitting submission and timing and expected cash reserves. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, the effects of general economic conditions, the price of gold, silver and copper, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information. In addition, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with the ability to obtain any necessary approvals, waivers, consents and other requirements necessary or desirable to permit or facilitate the proposed Arrangement, the risk that any applicable conditions of the proposed transaction may not be satisfied, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters of the Company with certain other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of the Company's common share price and volume; tax consequences to U.S. investors; and other risks and uncertainties, including those described in the Company's Annual Information Form for the financial year ended December 31, 2009, dated March 30, 2010 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. The Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX EXCHANGE) ACCEPTS 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, email@example.com