Ms. Linda Kish of Sun Valley reports

SUN VALLEY GOLD LLC: CONTROL AND DIRECTION OVER COMMON SHARES OF EXETER RESOURCE CORP.

Sun Valley Gold LLC has acquired control and direction over an aggregate of 734,000 common shares of Exeter Resource Corp. on behalf of client accounts over which it has discretionary trading authority. The common shares were acquired on the open market on Nov. 24, 2015, for a purchase price of 29.5 U.S. cents per share. Following completion of the acquisition described above, Sun Valley exercises control and direction over an aggregate of 9,568,000 common shares for and on behalf of client accounts, representing approximately 10.82 per cent of the issued and outstanding common shares.

The securities of Exeter were acquired for investment purposes. Sun Valley may increase or decrease its ownership of securities of Exeter depending upon future market conditions.