Mr. Yale Simpson reports

EXETER APPOINTS WENDELL ZERB AS PRESIDENT AND CEO

Exeter Resource Corp. is appointing Wendell Zerb as president and chief executive officer of the company. Bryce Roxburgh will transition to the role of co-chairman, a position to be shared with Yale Simpson.

The company is pleased to welcome Mr. Zerb in his role as president and chief executive officer. Mr. Zerb is known in the minerals industry, having 25 years combined experience in mining, mineral exploration and capital markets/financial analysis. His tenure over the past 15 years within capital markets has garnered him industry recognition for his knowledge, understanding and analytical expertise in the mining sector.

Mr. Zerb obtained a bachelor of science from the University of Alberta in 1986/87 and is a registered professional geologist with the Association of Professional Engineers and Geoscientists of Alberta. Mr. Zerb worked for 10 years as a gold and base metals geologist in mineral exploration and mining. That experience included senior roles in project generation and mining operations (both open pit and underground).

In 1996 Mr. Zerb joined an established Vancouver-based investment dealer (PI Financial) as a mining analyst. He advanced rapidly, earning an appointment as vice-president of research and institutional sales, later to president and chief executive officer of a wholly owned U.S. subsidiary. In March, 2005, he joined Canaccord Capital as a senior mining analyst, advancing to the position of director, research analyst, metals and mining (Canaccord Genuity Inc.). He resigned from Canaccord in July, 2012.

Mr. Simpson stated: "I would like to welcome Wendell to the company in this very important leadership role. Wendell has an impressive skill set that combines solid technical capabilities with a strong knowledge of capital markets. He is committed to continuing the advancement of our valuable Caspiche gold-copper asset and to leading the exploration team as they consider new opportunities. In particular, I believe that Wendell's significant industry contacts, worldwide project knowledge, and market savvy will be very valuable in the years ahead."

Mr. Roxburgh stated: "I look forward to my new role as co-chairman of the board. The role will allow me to continue my close association with Exeter while Wendell brings new perspectives and leadership to our team. Separately, Mr. Douglas Scheving has resigned from the board of directors to take up retirement. On behalf of the Exeter board I would like to thank Douglas for his substantial contributions dating back to 2003."

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