Denver Gold GroupPresentation September 14-15, 2009NYSE-AMEX: XRA TSX.V: XRC

Cautionary StatementCautionary 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 SEC’s 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.

Location– Caspiche Project, Chile

Caspiche gold-copper discoveryCerro Casale Project (Barrick-Kinross Gold)25 million oz. gold resourceRefugio Mine (Kinross) 6.2 million oz. gold resourceCaspiche Discovery19.6 million oz. gold resourceThe 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.

Caspiche - Diamond DrillingCSD028CSD030CSD0293 drills operating to establish a NI43-101 resource

Caspiche ProjectNational Instrument 43-101 Compliant Inferred Resource Estimate by AMEC InternationalIncluding Higher Grade Central Zone:*Gold equivalence for copper and silver was calculated by Exeter using assumed metal prices of $800/oz for gold, $12/oz for silver and $2/lb for copper and assumes 100% metal recovery.

Gold DistributionLONG SECTION POSITIONCROSS SECTION

BLOCK MODEL LEGENDBLOCK MODEL CROSS SECTIONLate Diatreme Breccia?1 km½ miAMEC PITSURFACEBASE OF OXIDATION1 km½ mi

BLOCK MODEL LEGENDBLOCK MODEL LONG SECTIONCROSS SECTION1 km½ miAMEC PITSURFACEPotential system plungeBASE OF OXIDATION1 km½ mi

September 2009 Resource ModelOxide ResourceSulphide Resource >0.3g/t gold equivalent

September 2009 Resource ModelOxide ResourceSulphide Resource >0.9g/t gold equivalent

DEVELOPMENT ACTIVITIES

Caspiche Preliminary MetallurgyObjective for all studies: for management to formulateappropriate, high-level, long-term development strategies

Caspiche Program and ScheduleCurrent Street Valuation:US$20 to US$25 per Au OzWith Development Studies:0.9 x NPVTransaction Premium:30% to 50%Americas gold development companies trade at a multiple to project NPV: at US$800/oz gold0.9x average values US$40-$60/oz goldBefore Development StudiesCost of program $16 million ($2 million spent)

at US$800/oz gold0.9x

average values US$40-$60/oz gold

Location– Cerro Moro Project, Argentina

Cerro Moro ProjectNational Instrument 43-101 Compliant Resource Estimateby Snowden U.K. (independent engineers)Escondida cut-off grade 2.0 g/t goldEsperanza 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.

Cerro Moro Program and ScheduleCost of program $10 million ($3 million spent).

Global Independently Held / Undeveloped Gold Deposits Caspiche gold onlyCaspiche gold equivalent* * 33.7 million gold equivalent ounces based on an inferred resource of 19.6 million ounces of gold and 4.84 billion pounds of copper and 137 million ounces of silver. Copper credit is 12.1 million gold equivalent ounces, silver credit is 2.0 million gold equivalent ounces using a gold price of $800/oz , $2.00/lb. copper and $12/oz silver. Assumes 100% metallurgical recovery.Source: Base chart taken from Paradigm Capital Inc., February 2009. Exeter data per News Release dated September 14, 2009.

Per Share Gold Leverage for Select Emerging MinersdExeter is 0.35 oz. gold per shareSource: modified from Dahlman Rose estimates. Feb 2009

Capital Structure - September 2009

Denver Gold GroupPresentation September 14-15, 2009NYSE-AMEX: XRA TSX.V: XRC