Ms. Linda Kish of Sun Valley reports

SUN VALLEY GOLD LLC: CONTROL AND DIRECTION OVER SECURITIES OF EXETER RESOURCE CORPORATION

Sun Valley Gold LLC has acquired control and direction over an aggregate of 170,000 common shares of Exeter Resource Corp. for and on behalf of client accounts over which it has discretionary trading authority. The common shares were acquired over the facilities of the Toronto Stock Exchange for a purchase price of $2.38 per share.

Following the acquisition, Sun Valley exercises control and direction over an aggregate of 17,683,936 common shares for and on behalf of client accounts. The 17,683,936 common shares over which Sun Valley exercises control and direction represent approximately 19.95 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.

For further information or to obtain a copy of the early warning report filed by Sun Valley under applicable securities legislation, please contact Linda J. Kish, chief legal officer of Sun Valley Gold, by telephone at 208-726-2399 or by fax at 208-726-0842.