Steele Recording Announces Completion of Reorganization
June 21 2010 - 6:47AM
Marketwired
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.
Contact: Website: www.steeleresources.com Email:
info@steeleresources.com Scott Dockter Phone: 530.306.4479
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