November 15, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Exeter Resource Corp. (AMEX: XRA) (TSX: XRC) said that the syndicate of underwriters of its recent stock offering have exercised an over-allotment option granted them, acquiring an additional 1,209,750 common shares of the company for gross proceeds to the company of CDN$7,500,450.

The move brings the aggregate gross proceeds of the equity financing to CDN$57,503,450.

In connection with the offering the underwriters received a cash commission equal to 6% of the gross proceeds raised through the Offering and the exercise of the option.

Exeter said it plans to use the net proceeds from the Offering and the exercise of the option to advance the company's Caspiche Project and for general working capital.

Canada-based Exeter Resource’s focus is the discovery, evaluation and development of gold deposits in the Maricunga district in Chile.

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