SOURCE: Steele Resources Corporation

July 18, 2011 15:03 ET

Steele Resources Announces Approval to Process Gold From Mineral Hill

CAMERON PARK, CA--(Marketwire - Jul 18, 2011) - Steele Resources Corporation (the "Company," "SRC") (OTCBB: SELR) announced today that the Company has received authorization from the state of Montana to remove stockpiled ore at its Mineral Hill Project located near Pony, Montana for processing. The existing 14,000 ton stockpile is a sulfide ore which has tested at an average grade of .22 ounces of gold per ton. The Company is currently awaiting metallurgy work necessary to formalize a shipping schedule and to arrange for processing the material with an offsite third party.

CEO Scott Dockter stated, "Being able to commence processing the Mineral Hill stockpile offers the possibility of realizing initial revenue later this year for SRC and provide capital to be used to commence drilling exploration and for further development of the Mineral Hill project."

About Steele Resources Corporation:

Steele Resources Corporation is a precious metals and mineral exploration company operated by professionals with extensive exploration, mining, and public market experience. The Company is working to become an active metal and mineral producer through exploration, acquisitions, mergers, and by developing its existing portfolio of properties.

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 Form 8-K dated June 17, 2010 and in Steele Resources Corp.'s other filings with the Securities and Exchange Commission.

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