Exeter Resource Corporation

• Projects Overview
• Chile and Argentina
• Caspiche
• Patagonia
  • The Agreement
  • Cerro Moro
  • Cerro Puntudo
  • Other
• Don Sixto
• Cochrane
• Magallanes

PROJECTS - Chile

Magallanes

On May 9, 2006 Exeter announced a new agreement with Rio Tinto Mining to explore 48 gold - silver and/or copper targets in Southern Chile. Rio Tinto has one time option after 5000m drilled on any project to earn 60% back in by paying Exeter 3x expenditure. If there is no back in, Rio retain a 1% Net Smelter Royalty with no expenditure commitments should a project go to production.

Exeter exploration in the area targets VMS, and Shear Hosted Gold. There is also potential for Porphyry Cu-Au and epithermal Au-Ag deposits. Field programs are in place at the moment and results should be available in early 2007.

AMEX : XRA TSX Venture : XRC FRANKFURT : EXB