Steele Recording Corporation Enters LOI to Acquire 9 New Properties
August 05 2010 - 6:30AM
Marketwired
Steele Recording Corporation (OTCBB: SELR) announced today that it
has entered into a Letter of Intent to purchase Nevada Mine
Properties II, Inc. (NMP), an exploration company with nine
properties located in Nevada and Idaho.
Scott Dockter, CEO, commented saying, "I am very impressed with
this property portfolio. Many of these projects have drilling
completed and follow up targets identified. These are properties
that are located on trend or in proximity to major mining
projects.
"For example, the LB/Vixen Project located approximately 5 miles
from Allied Nevada Gold Corp.'s Hycroft Mine, which, according to
alliednevada.com, is currently producing at a rate of approximately
100,000 ounces of gold and 300,000 ounces of silver per year.
Another example is the Gutsy project which is located on the Carlin
trend about 1 mile north of Newmont's Rain Mine complex that has a
reported resource in excess of 4.5 million ounces of gold."
The land package being acquired consists of 270 claims, totaling
5,400 acres and two royalty properties. 4 projects are situated
directly on the Battle Mountain Trend and 1 is situated on the
Carlin Trend. The Company is currently evaluating the due diligence
information on this acquisition in an effort to verify locations,
ownership, and history of the projects.
More information about these newest properties can be found at
the Company's subsidiary Steele Resources, Inc.'s website,
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 Phone: Scott Dockter -- 530.672.6225
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