Gleichen to Exercise Right of First Refusal 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 decided to exercise its right of first refusal
to acquire from Desarrollos Mineros San Luis, S.A. de C.V., a wholly-owned
subsidiary of Goldcorp Inc. ("DMSL"), 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. Gleichen, through its direct and indirect
subsidiaries, currently holds the other 78.8% of the issued and outstanding
shares of MML. MML holds a 100% interest in the Morelos gold project in Mexico
(the "Project").


"This is a marvelous opportunity to consolidate this asset under one single
ownership structure," said Fred Stanford, President and CEO of Gleichen, "we are
certainly looking forward to starting our exploration work and be in a position
to consistently deliver updates on our progress", he added.


On December 2, 2009 Goldcorp and Newstrike Capital Inc. ("Newstrike") announced
that they had entered into an agreement for the sale of DMSL's 21.2% in the
Morelos project to Newstrike for CDN$44.5 million and 15 million common shares
of Newstrike, subject to Gleichen's right of first refusal. As required under
its right of first refusal, Gleichen intends to purchase DMSL's interest in the
Project for not less than the consideration payable by Newstrike under its
agreement with Goldcorp.


Completion of the transaction will be subject to the execution of a definitive
agreement with Goldcorp, which will contain customary terms and conditions for a
transaction of this nature, including stock exchange approvals.


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. 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.