CLBN Caliber Energy Inc New (CE)

Navajo Wind Energy Corp. (the �Company� and formerly Caliber Energy Inc.) (PINK SHEETS: CLBN), today issues the following letter to shareholders:

Dear Valued Shareholders,

The past year has proven to be a very exciting time for our Company. After many months of dedicated work and planning, we have enabled Navajo to execute our strategic business model and take full advantage of the tremendous growth available in the wind power sector � currently the fastest growing renewable source for electric power.

Although the turmoil in equities and credit markets have certainly made for challenging times, we believe that Navajo has created an exceptional platform to take advantage of the economical, environmental and political demands we are currently experiencing to implement a broad-based alternative energy expansion strategy.

The Chinese wind energy market is on pace for another record year with the installation of approximately 10,000 megawatts of wind power capacity, generating sufficient energy for millions of homes. With wind power being one of the cleanest and most cost-effective forms of alternative energy, we expect significant growth within this industry for many years to come � the cultural shift to clean energy is permanent. As an additional catalyst to this growth, we feel confident that the new Obama administration in Washington will deliver on their commitment to invest between $180 - $200 billion over the next 10 years in the alternative energy market, which will include wind energy companies like Navajo. We are confident that Navajo�s business model will be an important contributor to the build-out of the wind power generation energy market.

Our management and affiliated consultants have proven expertise and are leaders in the wind power industry. Additionally, while much attention is being paid to mega wind projects, we believe that Navajo is the only public wind power company in the U.S. committed to and actually building projects in the 1-100 megawatt sector. We feel that this niche market is largely and mistakenly overlooked by most developers, which provides a tremendous opportunity to rapidly increase Navajo�s market share and execute our expansion plans.

In a short period, we have achieved a number of significant milestones:

• secured investment financing of over $2.5 million dollars for development and working capital;
• acquired Guangzhou Jianianxiang Co. Ltd., a Chinese wind farm and power trading company;
• acquired a 200 MW wind farm site located in Xinjiang, China. This site is situated on 6,200 acres and is in an area with proven, high-energy wind speeds;
• acquired a 50% joint venture partnership interest in the CSRI Xuzhou Nantung 35MW wind farm project in China and received a financing commitment for this acquisition;
• signed an agreement to form an alliance with industrial technology company, Vector Industrial Designs, to participate in the research, development and optimization of various proprietary wind turbine technology designs.

As a result of the relationships we have established and the niche markets we have identified this year, the Company has laid the groundwork for a very expansive and dynamic 2009 and years to come. Some of the Company�s key areas of focus that it is moving forward to achieve include the following:

• targeting 10 to 50 megawatt wind farm development projects. In Xinjiang, China, alone, there exists over 20,000 megawatts of achievable electricity utilizing our wind power business model;
• additional growth through strategic acquisitions;
• the implementation of new technologies to optimize production and increase viability.

We are very excited about the direction in which we are headed and the many opportunities that currently lie ahead. We invite you to watch for news on the continued developments of our company, including the entry into additional unique markets, new power purchase agreements secured and the start-up of the construction of our 2009 wind farm projects. I would like to thank all of our shareholders, employees, customers, partners and affiliates for their continued support and commitment. We truly appreciate the trust and confidence you have shown in us and we will continue to focus on building value in our company, while diligently striving to become a recognized leader in the wind farm industry.

Sincerely,

Barry Doyle, President

Navajo Wind Energy Corp.

About Navajo Wind Energy��

Navajo Wind Energy, Corp. is a renewable energy company focused on the development of more than 500 megawatts of clean wind energy to drive its future revenues and growth. The Company is pursuing significant opportunities to provide clean wind power to the growing demand in China. With the key acquisition of wind farm and power trading company Guangzhou Jianianxiang Co. Ltd, Navajo will become one of only a few companies licensed to trade electrical power in and outside of China.

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