Exeter 3D Imaging of Caspiche and Cerro Moro

This video is a visual 3D imaging presentation of both Caspiche and Cerro Moro.

Exeters Caspiche Project in Chile (option to own 100% from Anglo American Chile Limitada) is a gold-copper porphyry system, a type of deposit common to many of the world's largest open pit gold - copper mines. It is located 15 kilometres (8 miles) south of Kinross Gold's Refugio mine (+6 million ounce gold resource), and 10 kilometres (6 miles) north of the very large Cerro Casale gold-copper deposit (24 million ounce gold resource), jointly owned by Kinross Gold and Barrick Gold.

In October 2009 Exeter announced an updated National Instrument 43-101 (NI 43-101) compliant mineral resource estimate for Caspiche, for all drilling conducted to end 2008-2009 drill season. The inferred resource is 19.6 million ounces gold, 4.84 billion pounds of copper, and 40 million ounces of silver, or 32.4 million gold equivalent ounces (refer to October 20, 2009 News Release). The additional 12.8 million ounces of gold equivalent is calculated using a copper conversion price of US$2.00 per pound, a silver price of US$12.00 per ounce and a gold price of US$800 per ounce (assuming 100% recovery). The resource estimate leaves the deposit open for expansion to the southeast and to depth.

The Cerro Moro Gold-Silver Project in Santa Cruz Province, Argentina is 100% owned by Exeter, with the Santa Cruz Government Mining Company, Fomicruz S.E. entitled to a 5% interest, on completion of mine permitting. In July, 2009, Exeter announced an initial inferred mineral resource estimate for drilling completed to the end of 2008. The inferred resource is 646,000 ounces gold equivalent at a grade of 18 grams per tonne ("g/t") gold equivalent (refer to the July 8, 2009 Press Release). The Company's focus will be to advance drilling on the Escondida vein, which contains 518,000 ounces gold equivalent at a grade of 34 g/t gold equivalent. Engineering, environmental and infrastructure studies will also be advanced ahead of a scoping study planned for 2010. Exeter is now conducting a detailed drilling program on Escondida in order to upgrade the portions of the inferred resource that might be scheduled for early mining to the "indicated resource" category. This program entails some 30,000 metres of drilling and is expected to be completed by year end.

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