Oct. 27, 2009 (TheNewswire.ca) --
Vancouver, B.C., October 27, 2009 - Exeter Resource Corporation (AMEX:XRA) (TSX:XRC) (NYSE-AMEX:XRA, TSX:XRC-T, Frankfurt:EXB - "Exeter" or the "Company") is pleased to announce that it will commence trading on the Toronto Stock Exchange (the "TSX") on Tuesday October 27, 2009, under the symbol "XRC". Exeter will no longer be listed on TSX Venture Exchange ("TSX-V"). The Company will continue to trade on the NYSE-Amex under the symbol "XRA".
The TSX, a subsidiary of the TMX Group Inc. (OOTC:TMXGF) , is the largest stock exchange in Canada, the third largest in North America and the eight largest in the world by market capitalization.
Exeter's Executive Chairman Yale Simpson stated, "Exeter's listing on the TSX is a notable milestone for the Company and reflects the considerable shareholder value created by management over the years. The TSX listing is expected to provide a more appropriate trading platform, particularly for institutional investors.
"Exeter's market capitalization reflects the on-going success of our exploration efforts in Chile and Argentina. In particular our Caspiche gold-copper property, with an inferred resource of 32.4 million gold equivalent ounces*, is among the world's largest gold-copper discoveries in recent years. In Argentina, our Cerro Moro property is not yet large by industry standards but the very high gold-silver grades strongly support a multi-rig drilling program ahead of a decision to enter the final engineering phase.
"Reflecting on Exeter's history and its progression towards this celebrated event, I must give credit to the hard work and continued dedication of the Exeter team. A key to our success was our ability to secure strategic agreements with AngloGold Ashanti (NYSE:AU) and Anglo American which led to the Cerro Moro and Caspiche discoveries respectively. These agreements were founded on our team's technical credibility and management's ability to secure on-going project funding.
"Listed on the NYSE-Amex since November 2006, and now on the TSX, Exeter is very well positioned to continue building shareholder value."
About Exeter
Exeter Resource Corporation is a Canadian mineral exploration company focused on the discovery and development of gold and silver properties in South America. The Company has C$30 million in its treasury.
On the Caspiche Project in Chile, Exeter recently announced an inferred mineral resource estimate of 1,117 Mt (million metric tons) at a grade of 0.55 grams per metric ton gold and 1.12 grams per metric ton silver including 1,017 Mt at a grade of 0.22% copper. This equates to in-situ inferred resources of 19.6 million ounces of gold, 40 million ounces of silver and 4.84 billion pounds of copper (a total of 32.4 million gold equivalent ounces*.
