SOURCE: Steele Recording Corporation

June 21, 2010 06:47 ET

Steele Recording Announces Completion of Reorganization

Company Moves Into Natural Resources Sector

CARSON CITY, NV--(Marketwire - June 21, 2010) - Steele Recording Corporation (OTCBB: SELR) announced today that it has completed its Reorganization and acquisition of Steele Resources, Inc. (SRI), a fast growing precious metals exploration and mining company which focuses on identifying and developing advanced stage precious metal (e.g. gold and silver) projects in the Western United States and Nevada in particular. SRI is currently developing the Comstock-Tyler Project, located approximately 5 miles Southwest of Virginia City, NV on the Comstock Lode.

CEO Peter Kristensen stated, "We feel this new direction is a great move for Steele Recording and are excited to move into one of the most promising market sectors in the world. The Comstock Lode is the site of the first major silver and gold discovery in the US. It is considered one of the richest lodes ever discovered and has supported abundant mining activity. It is famous for its extensive mineral deposits, advancement of mining techniques, and rich Western history. Given that the total historic production from the region is estimated at 190 million ounces of silver and 8 million ounces of gold, we feel this area is perfect for future gold and silver exploration."

Recent activity in the Comstock Lode included drilling conducted by Goldspring Inc. In 2008, it drilled 130 holes at its Hartford/Lucerne complex. The better intercepts that it reported include 380 feet grading 0.109 opt gold (hole 10, 20-400 feet) and 345 feet grading 0.118 opt gold (hole 101, 20-365 feet). (Source -- NBMG Special Publication MI-2008).

Under the banner of SRI, the company will continue to develop its existing project as well as aggressively seek other projects, mergers, and acquisitions, in order to continue to expand its property portfolio in gold and silver producing regions of the US. To assist with this effort, the company has entered into a consulting agreement with mining industry veteran Scott Dockter who will provide critical direction and guidance in the continued development of the company's exploration projects.

More information about Steele Resources, Inc. 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 Recording 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 Recording Corp. cautions investors that any forward-looking statements made by Steele Recording Corp. are not guarantees of future performance and that 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 Recording Corp.'s mining properties, the unproven nature of and potential changes to Steele Recording Corp.'s business model, the risk that the capital and other resources that Steele Recording Corp. will need to exploit its business model will not be available, and the risks discussed in Steele Recording Corp.'s most recent Form 8-K dated June 17, 2010 and in Steele Recording Corp.'s future filings with the Securities and Exchange Commission.

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