SOURCE: Steele Resources Corporation

January 27, 2011 14:34 ET

Steele Resources Corporation Announces New CFO: David Bridgeford

CAMERON PARK, CA--(Marketwire - January 27, 2011) -  Steele Resources Corporation (the "Company") (OTCBB: SELR) announced today that it has named David E Bridgeford as its Chief Financial Officer and Secretary, effective January 18, 2011. Pauline Schneider, who was serving as the Company's interim Chief Financial Officer and Corporate Secretary resigned due to personal reasons on January 17, 2011. Mrs. Schneider will remain on the Board of Directors to provide financial oversight and recommendations.

Scott Dockter, the Company's President and CEO, commented on this saying, "We are actively working to build Steele Resources to become a producer of gold and silver and are nearing completion on the acquisition of the Mineral Hill project in Montana. As we develop this project, we believe the Company is going to undergo substantial expansion in size and dramatically increase in value.

To help manage this increasing activity, David is a savvy individual with a wealth of executive level management experience and his excellent resume and keen sense make him a valuable member of the Company's management team. Having David at our corporate office is a very necessary step as we move towards our goal of becoming a producing company, and we are pleased to have him fulfill this role."

Mr. Dockter continued saying, "Pauline has been very effective during her tenure as our interim CFO. We deeply appreciate her contributions and efforts on behalf of the Company and we are pleased that she will continue to serve in her Board position."

Mr. Bridgeford, 57, is a senior financial executive with more than 30 years of diverse management accounting and operations experience, with both public and private companies. He served most recently as the CFO of Jadoo Power Systems, Inc. which is a development stage power supply company focused on hydrogen fuel cells for emergency backup power for both military and commercial customers. Mr. Bridgeford previously served as CFO for Ample Communications, Inc. which was a fabless semiconductor company operating in the PC and telecommunications data transmission industries. Prior to these positions Mr. Bridgeford held senior financial/accounting related positions with several companies in fields of technology, building materials and banking. Mr. Bridgeford holds an Accounting MBA from the University of Puget Sound.

Regarding his new position with the Company, Mr. Bridgeford stated, "I am honored to join the management team at Steele Resources, their depth of knowledge and reputation in the industry only enhances our potential and the realization of the opportunities before us."

About Steele Resources Corporation:

Steele Resources Corporation is a precious metals exploration and development company operated by professionals with extensive exploration, mining, and public market experience. The Company is working to become an active gold producer through exploration, acquisitions, mergers, and by developing its existing portfolio of properties. Its current ensemble of exploration properties, held by its subsidiary, Steele Resources, Inc., includes two Nevada properties, its Comstock Tyler Project which consists of 600 acres in the historic Comstock District and its Fairview-Hunter Project which consists of 2,300 acres near the Denton-Rawhide Mine. The Company has also announced plans to acquire the Mineral Hill Exploration project which is located near Pony, MT.

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 subsequent filings with the Securities and Exchange Commission.

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