GoldMinerPulse.com -- 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: 2010-03-01. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-03-11.
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GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-03-11
Project/Deposit CC MVpSh PP% MI% I% Gold Silver Copper Uranium
    Caspiche CL $421.61 0 0 100% 18.43 M oz     38.79 M oz     2.01 M t
    Husab NA $58.24 0 0 100%                55.39 K t
    Don Sixto AR $16.31 0 73% 27% 1.26 M oz
    Cerro Moro AR $8.67 0 0 100% 370.67 K oz     19.24 M oz

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Mar-11
Metric / Metal Gold Silver Copper Uranium
    Metal Totals 20.05 M oz     58.03 M oz     2.01 M t     55.39 K t
    Metal Prices in US$ (from 2010-03-11) $1,108.90 per oz     $17.15 per oz     $3.36580 per lb     $40.75 per lb
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below) $260.28     $11.65     $174.66     $58.24
    Percentage of Total Metal Value 51.56%     2.31%     34.60%     11.54%
    PP% | MI% | I% 0 | 5% | 95%     0 | 0 | 100%     0 | 0 | 100%     0 | 0 | 100%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Mar-11
    Metal Value per Share (MVpSh)    US$504.83
    Average Ore Value per Tonne    US$
    Metal Value Leverage (MVL)    88.09
    Market Capitalization as % of Metal Value    1.1%
    Recent Stock Price    C$5.87   (TSX/TSXV close on 2010-03-11.)
Conversion rate used: 1 Cnd$ = 0.976275 US$ )
    Fully Diluted Share Count    85.44 M    ( Fully diluted share count taken from Exeter Resources Corporation, Capital Structure web page viewed March 2010. )
    PP% | MI% | I%    0 | 2% | 98%
Gold Metrics-- all Projects/Deposits
    Average Gold Ore Grade     g/t
    Market Capitalization
    per oz of Gold In Ground    $24.42   US$  |   25.01   C$
    Gold Eq Oz Estimate    38.90 M oz   ( 20.05 M oz are in ground)
    Market Capitalization
    per oz of Gold Equilavent    $12.59   US$  |   12.89   C$
Silver Metrics-- all Projects/Deposits
    Average Silver Ore Grade     g/t
    Market Capitalization
    per oz of Silver In Ground    $8.44   US$  |   8.64   C$
    Silver Eq Oz Estimate    2.51 B oz   ( 58.03 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	$421.61	0	0	100%	18.43 M oz	38.79 M oz	2.01 M t
Husab	NA	$58.24	0	0	100%				55.39 K t
Don Sixto	AR	$16.31	0	73%	27%	1.26 M oz
Cerro Moro	AR	$8.67	0	0	100%	370.67 K oz	19.24 M oz

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Mar-11
Metric / Metal	Gold	Silver	Copper	Uranium
Metal Totals	20.05 M oz	58.03 M oz	2.01 M t	55.39 K t
Metal Prices in US$ (from 2010-03-11)	$1,108.90 per oz	$17.15 per oz	$3.36580 per lb	$40.75 per lb
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)	$260.28	$11.65	$174.66	$58.24
Percentage of Total Metal Value	51.56%	2.31%	34.60%	11.54%
PP% \| MI% \| I%	0 \| 5% \| 95%	0 \| 0 \| 100%	0 \| 0 \| 100%	0 \| 0 \| 100%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Mar-11
Metal Value per Share (MVpSh)	US$504.83
Average Ore Value per Tonne	US$
Metal Value Leverage (MVL)	88.09
Market Capitalization as % of Metal Value	1.1%
Recent Stock Price	C$5.87 (TSX/TSXV close on 2010-03-11.) Conversion rate used: 1 Cnd$ = 0.976275 US$ )
Fully Diluted Share Count	85.44 M ( Fully diluted share count taken from Exeter Resources Corporation, Capital Structure web page viewed March 2010. )
PP% \| MI% \| I%	0 \| 2% \| 98%
Gold Metrics-- all Projects/Deposits
Average Gold Ore Grade	g/t
Market Capitalization per oz of Gold In Ground	$24.42 US$ \| 25.01 C$
Gold Eq Oz Estimate	38.90 M oz ( 20.05 M oz are in ground)
Market Capitalization per oz of Gold Equilavent	$12.59 US$ \| 12.89 C$
Silver Metrics-- all Projects/Deposits
Average Silver Ore Grade	g/t
Market Capitalization per oz of Silver In Ground	$8.44 US$ \| 8.64 C$
Silver Eq Oz Estimate	2.51 B oz ( 58.03 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: 2009-10-19 (119 pages)

Updates:

Project Location: Region III, Chile

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

Most Optimistic Resource Estimates (MORE):

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Gold $239.16    18.43 M oz     0.570 g/t     1.01 B t
   Silver $7.79    38.79 M oz     1.200 g/t     1.01 B t
   Copper $174.66    2.01 M t       2,000.000 g/t     1.01 B t
Estimate notes: See Table 1-1: Revised Mineral Resource Statement for Caspiche (Rodrigo Marinho, CPGAIPG, 7 Sep 2009) on p. 14 of 119 in the NI 43-101 report dated October 2009.
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	$239.16	18.43 M oz	0.570 g/t	1.01 B t
Silver	$7.79	38.79 M oz	1.200 g/t	1.01 B t
Copper	$174.66	2.01 M t	2,000.000 g/t	1.01 B t
Estimate notes: See Table 1-1: Revised Mineral Resource Statement for Caspiche (Rodrigo Marinho, CPGAIPG, 7 Sep 2009) on p. 14 of 119 in the NI 43-101 report dated October 2009. 0.2 g/t gold eq cut-off for the oxide (100M t) and 0.3 g/t for the remaining sulphide

Cerro Moro - ^top^

(NI) 43-101 Report:

Title: INDEPENDENT TECHNICAL REPORT (NI 43-101) UPDATE REPORT ON THE CERRO MORO PROJECT SANTA CRUZ PROVINCE, ARGENTINA
Date: 2009-12-31 (103 pages)

Project Location: Santa Cruz, Argentina

Map View: View the Cerro Moro prospect on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $4.81 370.67 K oz 10.500 g/t 1.10 M t
Silver $3.86 19.24 M oz 545.000 g/t 1.10 M t
Estimate notes: Escondida Total: Inferred Mineral Resource for Escondida, Esperanza and Gabriela on p. 10 of 115 in the NI 43-101 dated October 2009.
2 g/t Au cut-off.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$4.81	370.67 K oz	10.500 g/t	1.10 M t
Silver	$3.86	19.24 M oz	545.000 g/t	1.10 M t
Estimate notes: Escondida Total: Inferred Mineral Resource for Escondida, Esperanza and Gabriela on p. 10 of 115 in the NI 43-101 dated October 2009. 2 g/t Au cut-off.

Don Sixto - ^top^

(NI) 43-101 Report:

Title: TECHNICAL REPORT 2007 REVISED RESOURCE ESTIMATION DON SIXTO GOLD PROJECT MENDOZA PROVINCE, ARGENTINA
Date: 2007-09-14 (640 pages)

Updates: From the Projects - Don Sixto (La Cabeza) web page, viewed September 2009:

As a result of recent political developments in Mendoza Province, Argentina, the further development of the advanced Don Sixto Gold Project has been put on hold. Exeter has filed an action in the Mendoza Supreme Court to have this anti-mining legislation declared unconstitutional and will continue to work with authorities in Mendoza, and with representatives of other mining companies, to effect legislative change.

Project Location: Mendoza, Argentina

Map View: View project on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Measured + Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $11.96 921.83 K oz 1.400 g/t 20.48 M t
Estimate notes: Table 1: Don Sixto Gold Resource Estimates at a 0.5 g/t gold cut-off, viewed September 2009.
0.5 g/t gold cut-off.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$11.96	921.83 K oz	1.400 g/t	20.48 M t
Estimate notes: Table 1: Don Sixto Gold Resource Estimates at a 0.5 g/t gold cut-off, viewed September 2009. 0.5 g/t gold cut-off.

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $4.34 334.52 K oz 1.120 g/t 9.29 M t
Estimate notes: See notes for Measured + Indicated.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$4.34	334.52 K oz	1.120 g/t	9.29 M t
Estimate notes: See notes for Measured + Indicated.

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 $58.24 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


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