NYSEAMEX: XRA TSX'V: XRC

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Rodman Renshaw Annual Global Investment
Conference September 10, 2009

NYSE-AMEX XRA TSX.V XRC
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Cautionary Statement
Cautionary Note to U.S. Investors The United
States Securities and Exchange Commission (SEC)
permits mining companies in their filings with
the SEC to disclose only those mineral deposits
that a company can economically and legally
extract or produce. We use certain terms in this
presentation, such as inferred resource, that
the SEC guidelines strictly prohibit us from
including in our filings with the SEC. U.S.
investors are urged to consider closely the
disclosure contained in our annual report on Form
40-F. You can review and obtain copies of our
filings from the SECs website at
http//www.sec.gov/edgar.shtml. This document
and the information contained in it do not
constitute a prospectus and do not form any part
of an offer of, or invitation to apply for,
securities in any jurisdiction. Potential
investors should not rely solely on the
information contained herein prior to making any
investment decision. Investors should seek
independent advice from a qualified finance and
investment advisor, giving due regard to their
own personal circumstances, prior to forming any
investment decision. Safe Harbor Statement -
This presentation may contain certain
forward-looking statements within the meaning
of the United States Private Securities
Litigation Reform Act of 1995. These statements
reflect our current belief and are based upon
currently available information. Exeter is under
no obligation to update or alter any forward
looking statements except as required under
applicable securities laws. Actual results could
differ materially from those described in this
presentation as a result of numerous factors,
some of which are outside of the control of
Exeter. Many of the assay results presented are
preliminary and may not be accurate due to
various factors, including but not limited to
sample recoveries, true widths and
interpretations.
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An Experienced Management Team

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What makes Exeter unique?

• Exeter treasury is C30 million cash (no debt).
• Leverage to gold - Exeter owns 0.2 oz. gold per
  share - significantly more than our peer group
  average.
• Caspiche deposit is 12.65 million ounces (gold
  equivalent) based on 8.73 million ounces gold and
  2,090,600,000 pounds of copper (NI43-101
  compliant estimate). Recent drilling has extended
  the deposit - new resource announcement scheduled
  September 2009.
• Cerro Moro high grade gold-silver project in
  Argentina is 671,000 oz gold (equivalent) at 0.52
  oz/ton (NI43-101 compliant estimate).
  potentially a very low cost gold-silver mine.
  Drilling and engineering continuing.
• Don Sixto gold-silver property 1.2 million
  ounces gold (NI43-101 compliant resource).
• Subject to a 1,000,000 payment.

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Location Caspiche Project, Chile
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Chiles Maricunga Gold Belt
NYSE-AMEX XRA TSX.V XRC
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Exeters Caspiche gold-copper discovery
Cerro Casale Project (Barrick-Kinross Gold) 25
million oz. gold resource
Refugio Mine (Kinross) 6.2 million oz. gold
resource
Caspiche Discovery 8.7 million oz. gold resource
The Caspiche discovery is situated between two
world class gold deposits. The area was held by
Anglo American and lay dormant for 10 years prior
to the Exeter acquisition. The Caspiche
gold-copper system is very large and continued
success could rapidly transform Exeter into a
mid-tier gold company.
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Caspiche - Diamond Drilling
CSD028
CSD030
CSD029
3 drills operating to establish a NI43-101
resource
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Caspiche Central Zone Drilling to Date
The holes are drilled at various angles to best
define the 3-dimensional geometry of the deposit.
100m x 100m pattern of holes
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Caspiche Gold Distribution
Google plan showing a model of the deposit
overlain on topography and magnetic contours
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Caspiche Project National Instrument 43-101
Compliant Resource Estimateby Amec International
Cut-off grade 0.3 g/t gold
Note This can be compared to the Cerro Casale
mineral reserve (NI43-101 compliant) of 21.2
million ounces gold and 5.31 billion pounds of
copper based on 1.09 billion metric tons at a
grade of 0.61 g/t gold and 0.22 copper
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Drill Section 4
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Caspiche Infrastructure Program
Objective for all studies for management to
formulate appropriate, high-level, long-term
development strategies
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Caspiche Preliminary Metallurgy
Objective for all studies for management to
formulate appropriate, high-level, long-term
development strategies
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Caspiche Program and Schedule
Current Street Valuation US20 to US25 per Au Oz
With Development Studies 0.9 x NPV
Transaction Premium30 to 50

• Americas gold development companies trade at a
  multiple to project NPV
• at US800/oz gold?0.9x
• average values US40-60/oz gold

Before Development Studies
Cost of program 16 million (2 million spent)
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Location Cerro Moro Project, Argentina
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The Cerro Moro Discovery Drilling resumed on
high grade vein system

• Cerro Moro high grade gold-silver project in
  Argentina is 671,000 oz gold (equivalent) at 0.52
  oz/ton (NI43-101 compliant estimate).
• The discovery is high grade 1 oz/ton
  gold-silver over a vein length of 1 mile.
• The exploration target is a 2 million ounce
  gold-silver deposit, to be tested in 2009-2010.
  Similar in size to the AngloGold and Pan American
  Silver mines in the area.
• The property is in Argentina, located at low
  altitude, close to a seaport and infrastructure.
• Two rig operating.

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Cerro Moro Exeter Licenses 870 sq. miles
535 sq.mi.
Cerro Moro
68 sq.mi.
267 sq.mi.
Cerro Vanguardia Gold Mine
68 sq. mi.
50 kilometres
30 miles
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Cerro Moro Extent of the Vein System
Cerro Moro vein system is extensive with 25
veins tested to date

Fomicruz JV
Escondida Vein
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Cerro Moro Escondida Vein at surface
The new Escondida veins rarely outcrop and are
very high grade.
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Cerro Moro ProjectNational Instrument 43-101
Compliant Resource Estimateby Snowden U.K.
(independent engineers)
Escondida cut-off grade 2.0 g/t gold Esperanza
and Gabriela Zones cut-off grade 150 g/t silver
Note Gold equivalent grade is calculated by
dividing the silver assay result by 70, adding it
to the gold value and assuming 100 metallurgical
recovery.
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September 1, 2009 - Drilling Update
ESCONDIDAFOMICRUZ EXTENSION
Far West
ESCONDIDA
East
West
Far East
Central
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Cerro Moro Preliminary Metallurgy Excellent
recoveries indicated
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Cerro Moro Program and Schedule
Cost of program 10 million (3 million spent).
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Exeter News Flow

• September 2009 February 2010
• September the second Caspiche NI43-101
  compliant resource estimate to be announced.
• Cerro Moro assay results to be announced as
  drilling progresses on both Escondida in-fill
  area and the Escondida extension (on Fomicruz JV
  land).
• October drilling resumes at Caspiche results
  to be announced as drilling progresses.
• Updates on engineering and metallurgical work on
  both projects.

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Our Goals To establish Exeter as a mid-tier
mining company

• Cerro Moro project becomes a very low cost
  gold-silver mine producing 100,000 oz/yr (gold
  equivalent). Sales US90 M/yr.
• Caspiche discovery proves to be a world class
  gold-copper deposit. Exeter monetizes the asset
  when markets conditions optimum.
• Don Sixto Project permitting issues overcome and
  project moves to evaluation stage.
• AngloGold and Rio Tinto property portfolio
  generates further discoveries for Exeter.

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U.S. 10 Year Returnsby Asset Class (July
1999-July 2009)
Change
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• Exeter in an Industry Context
• The dynamic of the gold mining business continues
  to be driven by MA activity as producers strive
  for increased production and gold inventories.
• Cumulative industry expenditures of 4
  billion/year yield mega gold deposits (5
  million ounces) at a rate of only 1 per year.
• The timeline from discovery to production is ever
  increasing, as is the cost per new ounce
  discovered. Todays discovery cost exceeds 50
  per ounce (industry average).
• The major producers carry their gold inventories
  at an EV/share of 209/ounce (industry average).
  
• Exeters EV/share is presently only 20/ounce.
• Exeters total gold
  inventory includes by-product credits. Data is
  from NI43-101 compliant resources .
  

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Global Independently Held / Undeveloped Gold
Deposits
Caspiche, Exeter
Caspiche, Exeter
12.65 million gold equivalent ounces based on
an inferred resource of 8.73 million ounces of
gold and 2.09 billion pounds of copper.
Copper credit is 3.92 million gold equivalent
ounces using a gold price of 800/oz and
1.50/lb. copper. Assumes 100 metallurgical
recovery.
Source Base chart taken from Paradigm Capital
Inc., February 2009. Exeter data
per News Release dated March 24, 2009.
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Market Valuations Why Producers Buy Juniors
Average US209/oz
__ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __
__

• Based on all publicly available information as of
  September 3, 2009
• Enterprise Value is market capitalization plus
  net debt
• Equivalent ounces calculated on US850/oz for
  gold and US2.00/lb for copper

NYSE-AMEX XRA TSX.V XRC
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Ounces Gold Per Share (Leverage) for Select
Emerging Miners
Exeter is 0.2 oz. gold per share (gold equiv.)
Source Dahlman Rose estimates. Feb 2009
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Capital Structure September 1, 2009
FD fully diluted share capital
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Shareholder Base
Fully Diluted Shares 73,174,298 September 4,
2009
To be completed
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Exeter Analyst Coverage

• Canaccord AdamsMr. Wendell Zerbwendell.zerb_at_cana
  ccordadams.com604.643.7485
• Haywood SecuritiesMr. Chris Thompsoncthompson_at_ha
  ywood.com604-697-7433
• National Bank FinancialMr. Brian
  Christiebrian.christie_at_nbfinancial.com416-
  869-7118
• Salman PartnersMr. David Westdwest_at_salmonpartner
  s.com604-622-5569
• TD NewcrestMr. Daniel Earledaniel.earle_at_tdsecuri
  ties.com416 308 7906
• Thomas Weisel PartnersAndrew Mikitchookamikitcho
  ok_at_tweisel.com416 815 1622

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Rodman Renshaw Annual Global Investment
Conference September 10, 2009

NYSE-AMEX XRA TSX.V XRC