Gleichen Resources Ltd.
TSX : GRL

Gleichen Resources Ltd.

May 03, 2010 10:22 ET

Gleichen Announces Name Change to Torex Gold and Appoints Non-Executive Chairman

TORONTO, ONTARIO--(Marketwire - May 3, 2010) - Gleichen Resources Ltd. (the "Company") (TSX:GRL) announces that it has been continued under the laws of the Province of Ontario and changed its name to Torex Gold Resources Inc. The common shares and warrants of the Company are expected to begin trading on the Toronto Stock Exchange under the new ticker symbols "TXG" and "TXG.WT", respectively, on May 4, 2010.

The Company is also pleased to announce the appointment of Terry MacGibbon as Non-Executive Chairman of the Company. Mr. MacGibbon is a registered professional geologist with over 40 years of international experience in the mining business. He is the founder, Chairman and the CEO of FNX Mining Company Inc., a TSX-listed Canadian mining company that has emerged from a junior exploration company into a mid-tier diversified Canadian mining company. Mr. MacGibbon is a certified director, Institute of Corporate Directors, and has held directorships and senior executive positions in several TSX and TSX Venture public mining companies.

Torex Gold Inc. 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 100% of the Morelos Gold Project, an advanced stage gold exploration property, located 180km southwest of Mexico City.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and United Stated federal securities laws. Forward-looking information includes, but is not limited to, information with respect to the date on which the Company expects to begin trading under the name Torex Gold Resources Inc. 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.

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