Steele Resources Corp. Cross Cuts Massive Structure at Mineral Hill Gold Mine

CAMERON PARK, Calif., Dec. 8, 2011 /PRNewswire/ -- Steele Resources Corporation (the "Company") (OTCBB: SELR) is pleased to announce that it has advanced the primary development drift at the Mineral Hill Gold Project to a depth of 138 linear feet.  The decline has cross cut the A&P Shear structure along a face of approximately 40 feet and SRC is currently mapping and sampling this face to ascertain whether viable mineral prospects occur in this zone. The development drift has not yet fully cross cut the structure.  The current development plan dictates that, once the structure has been fully exposed, the development drift will turn westwards towards the A&P mine and known mineralization target. 

CEO Scott Dockter stated, "We are very pleased with the progress we have made over the past year.  Bringing this project from conception to this stage of development in under a year is a substantial accomplishment and we are happy to continue to develop this mine."

Dockter continued saying, "We are presently taking samples to test the potential for mineralization along this face.  We are seeing positive indicators that confirm we are along the A&P shear as predicted and the focus of our effort is now to turn west and develop structural intersections where mineralized shoots are expressed on surface."

The A&P Shear structure hosted the historic A&P mine which produced 128,000 tons of ore between 1934 and 1941.  This historic mining activity was focused on the lower grade oxide ore body which is fundamentally different than the higher grade sulfide material that the Company is currently targeting at the site.  This high grade sulfide is exposed at surface and is believed to continue in an East/West down dip trend along the A&P Shear structure.

In addition to the development drift, the Company plans to conduct underground test drilling to better define the extent of mineralization along the existing structure.

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 begun to drive a development drift towards the target mineralized zone.

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:
Newsletter signup and website: www.steeleresources.com
Email: [email protected]
Scott Dockter Phone: 530.672.6225

SOURCE Steele Resources Corporation