Gleichen Signs Agreement to Own 100% Interest in Morelos Gold Project

Gleichen Resources Ltd. (TSX VENTURE:GRL) ("Gleichen" or the "Company") is
pleased to announce that it has entered into an agreement with Desarrollos
Mineros San Luis, S.A. de C.V., a wholly-owned subsidiary of Goldcorp Inc.
("DMSL"), to acquire all of the shares in the capital of Minera Media Luna, S.A.
de C.V. ("MML") held by DMSL, representing 21.2% of the issued and outstanding
shares of MML, for Cdn$52,000,000 payable in cash. Gleichen currently holds the
other 78.8% of the issued and outstanding shares of MML through its subsidiary
TGRXM S.A. de C.V. MML is a joint venture company and the registered holder of a
100% interest in the Morelos gold project in Mexico (the "Morelos Project").


Completion of the transaction is subject to a financing condition in favour of
Gleichen and other customary terms and conditions, including stock exchange
approvals. The acquisition is expected to close on or about February 26, 2010.


Gleichen Resources Ltd., is a well funded, growth oriented Canadian mining
company engaged in the exploration and development of precious metal resources
with a focus on gold. It owns 78.8% of the Morelos Project, an advanced stage
gold exploration property, located 180km southwest of Mexico City and has
exercised its right of first refusal to acquire the remaining 21.2%. The Company
trades on the TSX Venture Exchange under the symbol GRL. The Company's Board of
Directors has approved a change of the Company's name to Torex Gold Resources
Inc., pending approval at its next annual and special meeting of shareholders.


This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Generally, forward-looking
information can be identified by the use of forward-looking terminology such as
"plans", "expects", or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or
"believes" or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might", or "will be taken",
"occur", or "be achieved". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the actual
results, performance or achievements of the Company to be materially different
from those expressed or implied by such forward-looking information.
Forward-looking information is based on the reasonable assumptions and opinions
of management made in light of its experience and its perception of trends,
current conditions and expected developments, as well as other factors that
management believes to be relevant and reasonable in the circumstances at the
date that such statements are made, but which may prove to be incorrect.
Although the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking information. The
Company does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.