Vancouver, B.C., November 26, 2008 - Exeter Resource Corporation (AMEX:XRA, TSX-V:XRC, Frankfurt:EXB - "Exeter" or the "Company") reports excellent grades from drill hole CSD023, the first hole completed this season at its Caspiche gold-copper porphyry project in the Maricunga district, Chile.

CSD023 intersected:

• 102.0 metres (“m”) (335.0 feet (“ft”)) at a grade of 0.65 grams per tonne (“g/t”) gold (0.019 ounces per ton (“oz/ton”)), from surface to 102.0 m (335.0 ft), in the oxide zone (gold only), followed by
• 603.3 m (1,972.0 ft) at a grade of 0.89 g/t gold (0.026 oz/ton) and 0.32% copper, from a down hole depth of 102.0 m (335.0 ft) to the bottom of the hole, in the primary gold-copper zone, including,
• 66.0 m (216.5 ft) at a grade of 1.94 g/t gold (0.056 oz/ton) and 0.41% copper, from a down hole depth of 338.0 m (1,108.6 ft).

CSD023 is located 145 m (476 ft) to the southwest and behind CSD014. It is a diamond drill extension to reverse circulation drill hole CSR023, drilled to a depth of 264 m (866 ft) last season (see the Company’s news release dated June 23, 2008).

Results from CSD023 demonstrate a significant increase in grade, both to the south and west of CSD014. The effect is to open up this area as a prime target for discovery of additional higher grade mineralization. Significantly, CSD023 could be extended at a later date as it terminated in economic tenor mineralization.

Currently, three rigs are operating on a 24 hour/day basis to determine the lateral and depth extent of the mineralized porphyry system. Importantly, both the oxide gold and primary gold-copper zones remain open for expansion.

Exeter’s Chairman, Yale Simpson stated, “The results from CSD023 represent a very encouraging start to our new drilling campaign. The grade is considerably better than we expected, as we had previously assumed that the hole was sited towards the edge of the system. Opening up another area of higher grade mineralization, to the south and west of drill hole CSD016, demonstrates the potential of Caspiche for both high tonnages and excellent grades.

“We are particularly pleased to have such positive news, as it was a difficult decision to spend part of our treasury at a time of such economic uncertainty. With three rigs drilling deep, 200 m (660 ft) spaced step-out holes, our Caspiche team is very optimistic that the program will successfully demonstrate the high calibre of the Caspiche discovery.

“Separately, we are very encouraged by the announcement last week of the purchase of the Lobo Marte gold deposit by a senior gold company. The deposit, located north of Caspiche, represents the second major acquisition of a Maricunga gold deposit within a year. It further confirms that the district represents an emerging centre for very large scale resource development in ‘mining friendly Chile’.”

Detailed drilling results are as follows:

Hole No.

* Drill hole CSD023 was pre-collared as reverse circulation drill hole CSR023 to a depth of 264 metres (assays previously reported in the Company’s news release dated June 23, 2008). In future the entire drill hole will be denoted CSD023.

To view and enlarge the above map, please click on it.

Figure 1 Plan view of deposit showing previous and current drilling, plus the position of the section line across holes CSD014 and CSD023.

To view and enlarge the above map, please click on it.

Figure 2 Drill section showing results and schematic geology for holes CSD014 and CSD023.

Quality Control and Assurance

Drill widths presented above are drill intersection widths and may not represent the true widths of mineralization. Gold assay results presented have not been calculated using a gold cut-off grade, or with any cutting of high grades. All diamond drill core samples are split on regular two metre intervals and represent either sawn half HQ-size or NQ-size core. Reverse circulation drill samples are collected using a cyclone in one metre intervals; all samples are then composited into two metre samples. Gold samples were prepared and assayed by fire assay (50 gram charge). Copper was assayed with a four acid digestion followed by atomic absorption spectroscopy. The primary laboratory is ALS Chemex in Chile, an ISO-9001:2000 certified laboratory. Standard, blank and duplicate samples are used throughout the sample sequence as checks for the exploratory reverse circulation and diamond drilling.

Justin Tolman, Exeter’s Caspiche Project Manager and a “qualified person” within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”), has supervised the preparation of the technical information contained in this news release.

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 had $23 million in its treasury as at September 30, 2008.

The Caspiche gold-copper discovery is situated in the Maricunga gold district of Chile, between the Refugio mine (Kinross Gold Corp.) and the giant Cerro Casale gold deposit (Barrick Gold Corp. and Kinross Gold Corp.). Drilling is currently underway to produce an interim NI 43-101 compliant inferred resource estimate in the second quarter of 2009. The initial resource target is large, reflecting the scale of similar gold and/or gold-copper porphyry systems in the immediate area.

Exeter’s priority on its Cerro Moro high grade gold-silver property in Argentina is to focus exploration on the Escondida vein, where drilling has returned multiple drill intercepts of 12-18 g/t gold equivalent* over potentially mineable widths. The results from current drilling will be used to produce a NI 43-101 compliant resources estimate, expected during the second quarter of 2009. Exeter will continue to develop its conceptual models so that on receipt of a NI 43-101 resources estimate, it can advance the project to the scoping study level.

No site work is planned on the Don Sixto gold-silver project in Argentina over the next quarter. The Company will continue to work with provincial authorities and with representatives of other mining companies, to effect amendment to the 2007 legislation that banned the use of cyanide in mining operations in Mendoza Province.

* Note: Gold equivalent grade is calculated by dividing the silver assay result by 60, adding it to the gold value and assuming 100% metallurgical recovery.

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

EXETER RESOURCE CORPORATION

Bryce Roxburgh
President and CEO