GoldMinerPulse Report on Exeter Resource Corp.: (NI) 43-101 Metal Valuation Report

Exeter Resource Corp. (XRC)

Company Web Site: www.exeterresource.com
This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2010-04-17. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-09-02.
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Exeter Resource Valuation (updated daily)
GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-09-02
Project/Deposit CC MVpSh PP% MI% I% Gold Silver Copper Uranium
    Caspiche CL $627.35 0 57% 43% 24.33 M oz     60.31 M oz     2.95 M t
    Husab NA $63.71 0 0 100%                55.39 K t

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / Metal Gold Silver Copper Uranium
    Metal Totals 24.33 M oz     60.31 M oz     2.95 M t     55.39 K t
    Metal Prices in US$ (from 2010-09-02) $1,251.30 per oz     $19.69 per oz     $3.46130 per lb     $45.00 per lb
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below) $353.02     $13.77     $260.56     $63.71
    Percentage of Total Metal Value 51.08%     1.99%     37.70%     9.22%
    PP% | MI% | I% 0 | 59% | 41%     0 | 56% | 44%     0 | 53% | 47%     0 | 0 | 100%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
    Metal Value per Share (MVpSh)    US$691.06
    Average Ore Value per Tonne    US$37.85
    Metal Value Leverage (MVL)    102.97
    Market Capitalization as % of Metal Value    1.0%
    Recent Stock Price    C$7.07   (TSX/TSXV close on 2010-09-02.)
Conversion rate used: 1 Cnd$ = 0.949244 US$ )
    Fully Diluted Share Count    86.25 M    ( Fully diluted share count taken from Exeter Resources Corporation, Capital Structure web page viewed April 2010. )
    PP% | MI% | I%    0 | 51% | 49%
Gold Metrics-- all Projects/Deposits
    Average Gold Ore Grade    0.514 g/t
    Market Capitalization
    per oz of Gold In Ground    $23.79   US$  |   25.06   C$
    Gold Eq Oz Estimate    47.63 M oz   ( 24.33 M oz are in ground)
    Market Capitalization
    per oz of Gold Equilavent    $12.15   US$  |   12.80   C$
Silver Metrics-- all Projects/Deposits
    Average Silver Ore Grade    1.3 g/t
    Market Capitalization
    per oz of Silver In Ground    $9.60   US$  |   10.11   C$
    Silver Eq Oz Estimate    3.03 B oz   ( 60.31 M oz are in ground)
    Market Capitalization
    per oz of Silver Equilavent    $0.19   US$  |   0.20   C$

See terms for more about GoldMinerPulse metrics.
GoldMinerPulse Coverage Status:
GoldMinerPulse coverage of Exeter Resource Corp. is complete pending a final internal review.

Project/Deposit	CC	MVpSh	PP%	MI%	I%	Gold	Silver	Copper	Uranium
Caspiche	CL	$627.35	0	57%	43%	24.33 M oz	60.31 M oz	2.95 M t
Husab	NA	$63.71	0	0	100%				55.39 K t

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / Metal	Gold	Silver	Copper	Uranium
Metal Totals	24.33 M oz	60.31 M oz	2.95 M t	55.39 K t
Metal Prices in US$ (from 2010-09-02)	$1,251.30 per oz	$19.69 per oz	$3.46130 per lb	$45.00 per lb
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)	$353.02	$13.77	$260.56	$63.71
Percentage of Total Metal Value	51.08%	1.99%	37.70%	9.22%
PP% \| MI% \| I%	0 \| 59% \| 41%	0 \| 56% \| 44%	0 \| 53% \| 47%	0 \| 0 \| 100%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
Metal Value per Share (MVpSh)	US$691.06
Average Ore Value per Tonne	US$37.85
Metal Value Leverage (MVL)	102.97
Market Capitalization as % of Metal Value	1.0%
Recent Stock Price	C$7.07 (TSX/TSXV close on 2010-09-02.) Conversion rate used: 1 Cnd$ = 0.949244 US$ )
Fully Diluted Share Count	86.25 M ( Fully diluted share count taken from Exeter Resources Corporation, Capital Structure web page viewed April 2010. )
PP% \| MI% \| I%	0 \| 51% \| 49%
Gold Metrics-- all Projects/Deposits
Average Gold Ore Grade	0.514 g/t
Market Capitalization per oz of Gold In Ground	$23.79 US$ \| 25.06 C$
Gold Eq Oz Estimate	47.63 M oz ( 24.33 M oz are in ground)
Market Capitalization per oz of Gold Equilavent	$12.15 US$ \| 12.80 C$
Silver Metrics-- all Projects/Deposits
Average Silver Ore Grade	1.3 g/t
Market Capitalization per oz of Silver In Ground	$9.60 US$ \| 10.11 C$
Silver Eq Oz Estimate	3.03 B oz ( 60.31 M oz are in ground)
Market Capitalization per oz of Silver Equilavent	$0.19 US$ \| 0.20 C$

See terms for more about GoldMinerPulse metrics.

Caspiche - ^top^

(NI) 43-101 Report:

Title: NI 43-101 Technical Report, Caspiche Property Region III, Chile
Date: 2010-03-12 (131 pages)

Updates:

Project Location: Region III, Chile

Map View: View the Caspiche property on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Gold $208.69    14.38 M oz     0.570 g/t     784.90 M t
   Silver $7.66    33.56 M oz     1.330 g/t     784.90 M t
   Copper $138.89    1.57 M t       2,000.000 g/t     784.90 M t
Estimate notes: See Mineral Resource Statement for Caspiche (Rodrigo Marinho, CPG-AIPG, 5 Feb 2010) on p. 10 of 131 in the NI 43-101 report dated February 2010.
0.2 g/t gold eq cut-off for the oxide (100M t) and 0.3 g/t for the remaining sulphide

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$208.69	14.38 M oz	0.570 g/t	784.90 M t
Silver	$7.66	33.56 M oz	1.330 g/t	784.90 M t
Copper	$138.89	1.57 M t	2,000.000 g/t	784.90 M t
Estimate notes: See Mineral Resource Statement for Caspiche (Rodrigo Marinho, CPG-AIPG, 5 Feb 2010) on p. 10 of 131 in the NI 43-101 report dated February 2010. 0.2 g/t gold eq cut-off for the oxide (100M t) and 0.3 g/t for the remaining sulphide

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Gold $144.33    9.95 M oz     0.450 g/t     687.60 M t
   Silver $6.11    26.75 M oz     1.210 g/t     687.60 M t
   Copper $121.67    1.38 M t       2,000.000 g/t     687.60 M t
Estimate notes: See Indicated note.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$144.33	9.95 M oz	0.450 g/t	687.60 M t
Silver	$6.11	26.75 M oz	1.210 g/t	687.60 M t
Copper	$121.67	1.38 M t	2,000.000 g/t	687.60 M t
Estimate notes: See Indicated note.

Husab - ^top^

(NI) 43-101 Report:

Title: Husab Project, Namibia National Instrument 43-101 Technical Report Rossing South - August 2009 Resource Update
Date: 2009-08-24 (0 pages)

Project Location: Namib-Naukluft National Park, Namibia

Map View: View the Husab project on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Uranium $63.71 55.39 K t 543.000 g/t 102.00 M t
Estimate notes: See Table 17.2.7_2 Rossing South Zone 2 - July 2009 Inferred Resource Estimate on p. 124 of 156 in the NI 43-101 dated August 2009.
Lower Cutoff (U3O8 ppm) 100 ppm