VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 1, 2017) - Exeter Resource Corporation (NYSE MKT:XRA)(TSX:XRC)(FRANKFURT:EXB) ("Exeter" or the "Company") is pleased to announce the appointment of
Mr. Mark E. Smith M.Sc., P.E., P.Eng., as Senior Technical Advisor. Mr. Smith will take a leadership role in advancing the Caspiche gold-copper project through advanced engineering studies.
Mr. Smith has been involved in the design, construction, operations and closure of heap leach and tailings management facilities for 35 years. Many of the design standards used in modern heap leaching and tailings disposal were developed by Mr. Smith or his team. He has authored and co-authored over 30 technical papers and contributed to various publications and texts in the fields of heap leaching, tailings management, sustainable development, containment systems, and closure.
Most recently Mark was senior reviewer and heap leach design coordinator on the Definitive Feasibility Study for Kaminak Gold's (now Goldcorp's) Coffee Gold Project, Yukon.
Importantly, Mark has extensive experience in the Maricunga region of Chile, through his involvement on Refugio (now the Maricunga mine), Marte Lobo and Cerro Casale. He also worked on Relincho and other heap leach projects in the country.
Mr. Smith was the founder of Vector Engineering, Inc., a 500-person engineering firm specializing in tailings and heap leach engineering with offices in seven countries and working around the world. He lived in South America for 10 years, directing services in Chile, Peru, Argentina, Colombia, Mexico, and Brazil. Mr. Smith's involvement with numerous international projects includes work for every major mining company. Several notable South American projects include: Barrick Gold (Veladero; Pierina & Lagunas Norte), Newmont Gold (Yanacocha), BHP Billiton (Cerro Colorado & Escondida; Tintaya, Cerro Matoso), Rio Tinto (La Granja), Vale (Cristalino, Area 118 & Piaui), Xstrata (Tintaya), Groupo Mexico (Southern Peru), Freeport (Cerro Verde) and Tahoe Resources (La Arena & Shahuindo).
"We are very pleased to have Mark join the Exeter team and to guide the advancement of our first stage, heap leach gold option at Caspiche" stated Wendell Zerb, Exeter's President and Chief Executive Officer.
"Caspiche is one of very few large oxide gold, gold-copper projects with scaleable mining options. Under Mark's guidance we will move to develop the 1.7 million oz oxide gold zone, which we believe will then lead, to advancing mining options on the large gold-copper sulphide deposit.
"With Mark's 35 years of unparalleled experience in heap leach mine building, and project management in South America, he is extremely well qualified to guide Exeter's development of Caspiche."
Stock option grant
The Company further announces that it has granted 150,000 incentive stock options to Mr. Smith. The options vest immediately and are exercisable for a period of two years from the date of grant at an exercise price of $1.26 per common share.
About Exeter
Exeter is a Canadian mineral exploration company focused on the exploration and development of the Caspiche project in Chile. The project is situated in the Maricunga gold district, between the Maricunga mine (Kinross Gold Corp.) and the Cerro Casale gold deposit (Barrick Gold Corp. and Kinross Gold Corp.). The discovery represents one of the largest known mineral discoveries made in Chile in recent years.
On December 19, 2014, Exeter announced the filing of an Amended NI 43-101 Technical Report on the Caspiche Project ("2014 PEA"). Refer to the Exeter web site or Sedar for details regarding the 2014 PEAA.
The Company currently has cash reserves of C$16 million and no debt.
If you have any questions regarding Exeter, or would like a complete corporate presentation forwarded to you, please contact Mr. Rob Grey, VP Corporate Communications at: Toll-free 1.888.688.9592 or by email at rgrey@exeterresource.com
Disclaimer: The economic analysis contained in the 2014 PEA is considered preliminary in nature. There is no certainty that the economic forecast outlined in the 2014 PEA will be realized. No inferred mineral resources were used in the PEA. See Exeter's website or Sedar for the news release dated December 19, 2014: Amended NI 43-101 Technical Report on the Caspiche Project; Effective date: April 30, 2014.
Wendell Zerb, Exeter´s President & CEO and a "qualified person" (¨QP¨) within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information in this corporate update.
