Israeli Prime Minister's Office has denied reports that it is sending an official to Cairo to discuss a cease-fire in the Gaza Strip, local media reported Saturday.

The Hezbollah-affiliated Lebanese television channel Al- Mayadeen reported earlier Saturday that Israel would send a senior official to the Egyptian capital to sign the deal for a truce to be activated Saturday midnight.

However, the Ha'aretz website said the Prime Minister's Office had denied the reports, adding that during his talk with German Chancellor Angela Merkel, Israeli Prime Minister Benjamin Netanyahu said he would agree to a cease-fire once all rocket fire from Gaza ceases.

Palestinian sources was quoted by the Lebanese news channel as saying that there is a marathon of talks sponsored by Egypt, Qatar and Turkey.

Shortly after the Lebanese report was aired, Egyptian President Mohamed Morsi reportedly said in a joint press conference with visiting Turkish Prime Minister Recep Tayyip Erdogan that there are indications of a nearing ceasefire between Israel and militants in the Gaza Strip.

Operation Pillar of Defense, Israel's operation in the Gaza Strip against the militant groups, entered its fourth day on Saturday, with more than 650 rockets launched at Israel from the Gaza Strip.

On Friday, the Israeli cabinet approved the draft of 75,000 reservists and several tens of thousands have already been drafted and mobilized south-bound towards the Gaza border.

Israel Defense Forces Spokesperson Yoav Mordechai said the operation "is not a matter of a day or two," but will continue with until it achieves its goals of crippling the militants' infrastructure in Gaza and restoring quiet to the southern communities of Israel.

Health ministry of the Hamas authority in the Gaza Strip said in a report Saturday night that 45 Palestinians have been killed and some 500 others wounded since Wednesday afternoon.