Exeter Resource Corporation : Exeter Appoints Wendell Zerb as President and CEO Bryce Roxburgh transitions to Co-Chairman with Yale Simpson

VANCOUVER, BC -- (Marketwire) -- 02/28/13 -- Exeter Resource Corporation (NYSE-MKT:XRA,
TSX:XRC, Frankfurt:EXB - "Exeter" or the "Company") is pleased to
announce the
appointment of Mr. Wendell Zerb as President and CEO of the Company. Mr.
Bryce
Roxburgh will transition to the role of Co-Chairman, a position to be
shared
with Mr. Yale Simpson.

The Company is pleased to welcome Mr. Wendell Zerb in his role as
President and
CEO. Mr. Zerb is well 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 Degree from the University of
Alberta in
1986/87 and is a registered Professional Geologist with the
Association of
Professional Engineers and Geoscientists of Alberta (APEGA). 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 CEO
of a wholly owned US 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. Yale Simpson, Exeter Co-Chairman 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. Bryce 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."

About Exeter

Exeter is a Canadian mineral exploration and development company. Its
principal
focus is the advancement of its 100% owned Caspiche gold-copper
project in
Chile. Caspiche is one of the largest undeveloped gold-copper deposits
in the
America's and is situated in the Maricunga gold district, between the
Maricunga
mine (Kinross Gold Corp.) and the Cerro Casale gold-copper deposit (Barrick
Gold
Corp. and Kinross Gold Corp.). The Company continues to evaluate
new
opportunities related to the advancement of Caspiche, and new industry
wide
opportunities with the objective of securing properties, which offer near
term
discovery potential.

Exeter has completed pre-feasibility studies that demonstrate the
potential for
commercializing Caspiche. The Company currently has cash reserves of
CAD$52
million and no debt.

You are invited to visit the Exeter web site at www.exeterresource.com.

EXETER RESOURCE CORPORATION
Wendell Zerb, P. Geol
President and CEO

Safe Harbour Statement - This news release contains
"forward-looking information" and "forward-looking statements" (together,
the "forward-looking statements") within the meaning of applicable
securities laws and the United
States Private Securities Litigation Reform Act of 1995, including in
relation
to the Company's belief as to the extent and timing of its drilling
programs,
various studies including pre-feasibility studies, engineering,
environmental,
infrastructure and other studies, and exploration results, budgets
for its
exploration programs, the potential tonnage, grades and content of
deposits,
timing, establishment and extent of resources estimates, potential for
financing
its activities, potential production from and viability of its
properties,
availability of water, power, surface rights and other resources,
permitting
submission and timing, potential to acquire new projects and expected
cash
reserves. These forward-looking statements are made as of the date of this
news
release. Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the future
circumstances, outcomes
or results anticipated in or implied by such forward-looking statements
will
occur or that plans, intentions or expectations upon which the
forward-looking statements are based will occur. While the Company has
based these forward-looking statements on its expectations about future
events as at the date that
such statements were prepared, the statements are not a guarantee that
such
future events will occur and are subject to risks, uncertainties,
assumptions
and other factors which could cause events or outcomes to differ materially
from
those expressed or implied by such forward-looking statements. Such
factors and
assumptions include, among others, the effects of general economic
conditions,
the price of gold, silver and copper, changing foreign exchange
rates and
actions by government authorities, uncertainties associated with
negotiations
and misjudgments in the course of preparing forward-looking
information. In
addition, there are known and unknown risk factors which could
cause the
Company's actual results, performance or achievements to differ materially
from
any future results, performance or achievements expressed or implied
by the
forward-looking statements. Known risk factors include risks associated
with
project development; including risks associated with the failure to
satisfy the
requirements of the Company's agreement with Anglo American on its
Caspiche
project which could result in loss of title; the need for additional
financing;
operational risks associated with mining and mineral processing;
fluctuations in
metal prices; title matters; uncertainties and risks related to
carrying on
business in foreign countries; environmental liability claims and
insurance;
reliance on key personnel; the potential for conflicts of interest among
certain
officers, directors or promoters of the Company with certain other
projects; the
absence of dividends; currency fluctuations; competition; dilution;
the
volatility of the Company's common share price and volume; tax
consequences to
U.S. investors; and other risks and uncertainties, including those
described in
the Company's Annual Information Form for the financial year ended
December
31, 2011 dated March 30, 2012 filed with the Canadian Securities
Administrators
and available at www.sedar.com. Although the Company has attempted to
identify
important factors that could cause actual actions, events or results to
differ
materially from those described in forward-looking statements, there
may be
other factors that cause actions, events or results not to be as
anticipated,
estimated or intended. There can be no assurance that forward-looking
statements
will prove to be accurate, as actual results and future events could
differ
materially from those anticipated in such statements. Accordingly,
readers
should not place undue reliance on forward-looking statements. The
Company is
under no obligation to update or alter any forward-looking statements
except as
required under applicable securities laws.

Cautionary Note to United States Investors - The information contained
herein
and incorporated by reference herein has been prepared in accordance
with the
requirements of Canadian securities laws, which differ from the
requirements of
United States securities laws. In particular, the term "resource"
does not
equate to the term "reserve". The Securities Exchange Commission's (the
"SEC")
disclosure standards normally do not permit the inclusion of
information
concerning "measured mineral resources", "indicated mineral
resources" or
"inferred mineral resources" or other descriptions of the
amount of
mineralization in mineral deposits that do not constitute "reserves" by
U.S.
standards, unless such information is required to be disclosed by the law
of the
Company's jurisdiction of incorporation or of a jurisdiction in
which its
securities are traded. U.S. investors should also understand that
"inferred
mineral resources" have a great amount of uncertainty as to their
existence and
great uncertainty as to their economic and legal feasibility.
Disclosure of
"contained ounces" is permitted disclosure under Canadian regulations;
however,
the SEC normally only permits issuers to report mineralization that
does not
constitute "reserves" by SEC standards as in place tonnage and grade
without
reference to unit measures.

NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED IN
THE POLICIES OF THE TSX) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF
THIS NEWS RELEASE

This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and
other applicable laws; and

(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Exeter Resource Corporation via Thomson Reuters ONE

[HUG#1681888]

For further information, please contact:

Wendell Zerb, President and CEO

or Rob Grey, VP Corporate Communications

Tel: 604.688.9592

Fax: 604.688.9532

Toll-free: 1.888.688.9592


Suite 1660, 999 West Hastings St.

Vancouver, BC Canada V6C 2W2
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