Steele Resources Corp. Announces Results of Drill Program

CAMERON PARK, Calif., Jan. 13, 2012 /PRNewswire/ -- Steele Resources Corporation (the "Company") (OTCBB: SELR) announced today that it has received early results from its December drill program at its Mineral Hill Project near Pony, MT and believes that a second round of drilling will be required to produce reliable results.

Company CEO Scott Dockter stated, "The primary goal of this drilling was to define near term production targets for 2012.  After lengthy consideration, the Company has determined that, due to the rock characteristic and sensitivity of the data, only a diamond core drill program will provide sufficiently accurate data." 

Core drilling extracts solid cores of rock approximately 2 inches in diameter for testing and review and is widely considered the most reliable form of drill sampling.

Dockter continued saying, "Surface sampling of the sulfide ore body suggest grades of 0.2 ounces per ton of gold.  The samples collected demonstrated that the rock characteristics seen at surface in the historic pits continue on for at least 100 feet, however the grades are inconclusive due to contamination. The Company is currently working to schedule an appropriate contract drill company and will provide additional information relating to this drill program as it becomes available."

About Steele Resources:

Steele Resources Corporation is a precious metals exploration and development company that is working to become an active gold producer through the development of the 1800 acre Mineral Hill Gold Project.  The Company recently announced it had completed 166 linear feet of development drift towards the target mineralized zone at its Mineral Hill Project.

More information about Steele Resources Corporation can be found at www.steeleresources.com.

Safe Harbor Statement

The matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended that involve risks and uncertainties. Although Steele Resources Corp. believes that the expectations reflected in such forward-looking statements are reasonable, the forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. Steele Resources Corp. cautions investors that any forward-looking statements made by Steele Resources Corp. are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those reflected in forward-looking statements include, but are not limited to, risks and uncertainties regarding the actual mineralization of Steele Resources Corp.'s mining properties, the unproven nature of and potential changes to Steele Resources Corp.'s business model, the risk that the capital and other resources that Steele Resources Corp. will need to exploit its business model will not be available, and the risks discussed in Steele Resources Corp.'s filings with the Securities and Exchange Commission.

Contact:

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Email: [email protected]

Scott Dockter Phone: 530.672.6225

SOURCE Steele Resources Corporation