David Seton, Executive Chairman
17 June 2015

First of all I must offer our apologies for the lack of communication over the last month. As much as we have been very busy there hasn't been much we are permitted by regulation and commercial confidentiality to publicly talk about. Unfortunately we are somewhat restricted in what we can say now other than that we are moving forward.

Obviously the financing with George Molyviatis / InCoR has been frustratingly slow in closing but still moving forward. The issue the Directors face however is that we have an extremely difficult market and raising new funds is not easy. As a consequence, while Mr Molyviatis continues to support the Company with needed funds and while the Directors are of the view that he will close, our support for him remains.

Management is also perversely restricted in that the Ontario Securities Commission, by way of the cease trade order, specifically prevents us from pursuing or discussing any financing other than the Molyviatis one they have approved. As a result of this we have been actively involved in helping him close. Although nothing can be promised, considerable progress has been made, particularly in the last week. Unfortunately I cannot disclose anything more at this point.

We can however provide some operational updates. In Vietnam, small-scale production has been continuing at the company's Bong Mieu site with the mine producing 20-25oz per day. Unfortunately the local tax department has again raised issues that are currently preventing us from selling gold so we have shut the mine down temporarily until we can resolve them. Whilst this is frustrating, we think it will be temporary.

A license application is also being prepared to allow development of the Ho Ray Thac Trang deposit at Bong Mieu and this should be submitted before the end of the month.

The sizeable insurance claim from typhoons in 2014 is being progressed with renewed zeal now that we have appointed a strong facilitator/negotiator.

Plans for re-starting of Phuoc Son are ready and awaiting finalizing of the arrangements with our new local partner, VietABank.

To Malaysia where a number of potential partners for the Central Bau project have entered the landscape and various options are also being discussed with them. As each of them conducts their due diligence, we are reminded what excellent prospects this project holds for Besra.

I really want to thank our investors for your great patience and for sticking with us.

Hopefully I can provide you all with more substantial news very soon.

Yours faithfully

David Seton
Executive Chairman

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