Navajo Wind Energy Corp (CLBN)

[futrcash]

Date: Tuesday, May 31, 2005

Trading Symbol: OTC.BB : CALB

Caliber Updates Bolloque Project -- "7-1-64-25W4M" Well Prepares to Drill

Caliber Energy, Inc. (OTC BB: CALB), today updates the Bolloque Oil Play.

Caliber recently announced the preparations for the spud of the first oil well at the Bolloque Project, Alberta, Canada. The well designation is 7-1-64-25W4M. Caliber is now advancing funds required to complete the well licensing and site preparations totaling $45,000 as part of the executed Authority for Expenditure (A.F.E.) totaling $329,000 to drill, test and case the well.