BLEND steak sauce and salsa in small bowl.
MIX meat, egg, bread crumbs and 1/3 cup sauce mixture in large bowl. Shape mixture into 32 (1-1/4-inch) meatballs. Arrange meatballs in single layer on shallow baking pan.
BAKE at 425°F for 12 to 15 minutes or until cooked through. Serve remaining sauce mixture as a dip with meatballs.
Safe Food Handling : Wash hands immediately in hot soapy water after contact with raw meat.