Toronto, February 3, 2010 - Gleichen Resources Ltd. (GRL - TSX-V) (“Gleichen” or the “Company”) is pleased to announce that it has received the conditional approval of the Toronto Stock Exchange (the “TSX”) to list the common shares (the “Common Shares”) and Common Share purchase warrants (the “Warrants”) of the Company on the TSX subject to the Company fulfilling all of the requirements of the TSX within 90 days.
“Graduation to the TSX is considered to be an important milestone to Gleichen as it is expected to provide the Company with improved access to capital, broader market recognition and exposure to new business prospects” said Fred Stanford, President and CEO of Gleichen.
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 buy the remaining 21.2%. 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.
For further information, please contact:
GLEICHEN RESOURCES LTD.
President and CEO
Tel. (647) 260-1502
Gabriela M. Sanchez
Vice President Investor Relations
Tel. (647) 260-1503
Email: firstname.lastname@example.orgNeither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.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.