SOURCE: Steele Resources Corporation

June 22, 2011 20:39 ET

Steele Resources Corporation Announces Permit Acquired

Advanced Exploration to Commence at Mineral Hill Gold Project

CAMERON PARK, CA--(Marketwire - Jun 22, 2011) - Steele Resources Corporation (the "Company," "SRC") (OTCBB: SELR) announced today that it has received approval from the state of Montana to commence advanced exploration at its Mineral Hill Gold Exploration Project. The Company has permitted up to twenty drill holes totaling 10,000 feet.

This drill program will focus on verifying the gold resource that has been discussed in the historic reports associated with the A&P mine and surrounding area. The planned holes will be drilled into the known mineralized structures, focusing on infill drilling between the open cuts and beneath the current underground workings. Additionally, geological mapping, geochemical sampling, and an IP resistivity survey is planned for a second target area to the east of the A&P mine in order to establish whether gold mineralization exists along strike of the shear zone and intersects subsidiary crosscutting structures beneath the glacial moraine deposit.

CEO Scott Dockter stated, "Mineral Hill is the first of many projects we plan to explore. The Company is currently working to collaborate with a strong Investment Banking firm in order to further explore this project, as well as develop opportunities of additional acquisitions of other natural resource projects with near term production potential."

A bond of approximately $20,000 remains to be posted before the Company can commence exploration activities.

About Steele Resources Corporation:

Steele Resources Corporation is a precious metals exploration 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.

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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