KZX

Kazax Minerals Inc. (TSX VENTURE:KZX) ("Kazax" or the "Company"). As a result of
a review by the British Columbia Securities Commission (the "BCSC"), Kazax is
issuing the following news release to clarify our disclosure. Based on the
review completed by the BCSC, certain information provided in a corporate
presentation entitled "LOMO Project Briefing, August 2012 - AGM" which was
posted on the Company's website (the "Presentation"), in a corporate fact sheet
which was posted on the Company's website (the "Fact Sheet"), in a corporate
video which was posted on the Company's website (the "Video"), in disclosure
relating to the Company and investor materials contained on the Company's
website, in the Company's News release dated January 14, 2013 (the "NR") and in
the technical report entitled "Independent Technical Report on the Lomonosovsky
Iron Project, Republic of Kazakhstan", a copy of which was filed under the
Company's profile at www.sedar.com on January 14, 2013 (the "Report") was found
to be unsupportable and in contravention of National Instrument 43-101. The
Company has removed the Presentation, Fact Sheet and Video from its website, and
clarifies the disclosure as follows:


The Presentation, which was prepared in connection with the Company's August 14,
2012 Annual General Meeting, disclosed "Reserves at 560 MT" with a grade of
28.83 % iron, which numbers exceeded the then available resource estimates
contained in the Company's then current Technical Report for the Lomonosovsky
Iron Project (the "Property") dated April 12, 2012. The presentation also
disclosed that 270 Mt of the reserves were "economically recoverable ore", and
contained year by year mining schedules including annual qualities of "ore". As
the term "ore" implies a level of technical feasibility and economic viability,
the term is required to be utilized only in the context of mineral reserves and
use of the term in relation to the Company's estimated mineral resources is
incorrect. For clarity purposes, the Company is not treating the estimates
disclosed in the Presentation or the Report as mineral reserves. The Company's
Report and its revised technical report dated May 1, 2013 which was filed under
the Company's profile on SEDAR on May 9, 2013 only estimates mineral resources,
as tabulated in a following section of this news release, and does not support
disclosure of a mineral reserve or any results of economic analysis. The
estimates contained in the Presentation are not NI 43-101 compliant and these
estimates should not be relied upon and are being retracted by the Company.


In addition, the Presentation contained resource estimates in respect of the
LIDI Gold property, the Zhaltyrbulak property, the Zhilandy property, the ET
Led/Zinc property, the Kizilespe property, the Druzhnoye property, and the
Rodnikovoye property. For clarity purposes, these estimates are not NI 43-101
compliant and should not be relied upon and are being retracted by the Company. 


The Fact Sheet disclosed an increase in estimates in respect of the Property to
"550 + MT at a 20% COG" at 35% Fe, referred to a "Bankable Feasibility Study"
and included disclosure of estimated mine life and estimated annual production
rates and refers to estimates as an "ore body", all of which may have
incorrectly implied to represent a first time disclosure of a mineral reserve.
Further the disclosure of estimates contained in the Fact Sheet omit
classifications and grades of resources, contrary to NI 43-101. For clarity
purposes, the Company is not treating the estimates disclosed in the Fact Sheet
as mineral reserves. The estimates and results of economic analysis contained in
the Fact Sheet are not NI 43-101 compliant and should not be relied upon and are
being retracted by the Company.


The Company also applied the term "ore" to the Company's estimated mineral
resources in the NR and discussed completing a feasibility study, seeking
approvals to commence operations, commencing operations in mid 2013 and referred
to detailed "commercial discussions" planned for the first quarter of 2013, all
of which may have incorrectly implied that the Company has a positive mining
study that supports a production decision based on economic viability. For
clarity purposes, the Company has not made a production decision in respect of
the Property, has not obtained a positive mining study supporting the economic
viability of the Property and has not yet commenced operations. The Company is
not treating current mineral resources contained in the Report as reserves and
retracts applying the term "ore" to the Property in the disclosure contained in
the NR. 


The Video disclosed similar information implying a completed positive economic
analysis on the Property. For clarity purposes, the Company has not made a
production decision in respect of the Property, has not obtained a positive
mining study supporting the economic viability of the Property or fast tracking
commercial production on the Property. 


In addition, the Company's website contained a table that disclosed a "Total
Resource" of 559,691,560 tonnes grading 28.83% Fe. This disclosure omitted
classifications and grades of resources, contrary to NI 43-101. For clarity
purposes, this estimate is not NI 43-101 compliant and therefore the Company is
not able to prepare a new technical report supporting the disclosed increase in
mineral resources. The estimate therefore should not be relied upon and is being
retracted by the Company. Further, the Company has revised all disclosure
contained on its website and in investor materials to remove reference to the
terms "ore", "ore body" and similar terms.


For clarity purposes, the Report provides a current resource estimate for the
Property as at December 2012 as outlined below, above a cut-off grade of 20% Fe.





---------------------------------------------------------------------------
            Mineral Resource Estimate for Combined Lomonosovsky,           
                       December 2012, cut-off 20% Fe                       
---------------------------------------------------------------------------
Class                  M Tonnes       Fe %        P %        S %      FeM %
---------------------------------------------------------------------------
Measured                    7.6       29.8        0.5        3.3       19.7
---------------------------------------------------------------------------
Indicated                 325.9      36.76        0.2        3.5       27.8
---------------------------------------------------------------------------
Measured & Indicated      333.5       36.6        0.2        3.5       27.6
---------------------------------------------------------------------------
Inferred                  108.7       34.8        0.3        4.5       25.9
---------------------------------------------------------------------------



The Report does not contain any estimate of mineral reserves and the Company is
not treating any estimate of resources as reserves. However, the BCSC has noted
that the term "ore" is frequently used throughout the Report, implying that the
estimates provided in the report have economic viability. As the Company does
not have a positive mining study necessary to demonstrate economic viability,
use of the term "ore" in respect of the Property is not appropriate and as a
result, the Report has been revised to remove such disclosures. A copy of the
revised Report dated May 1, 2013, can be found under the Company's profile at
www.sedar.com.


Finally, the Company would like to clarify for investors it plans going forward
in respect of the Property. The Company has previously disclosed that it was the
Company's goal to commence mining operations in 2013. As noted above, the
Company has not made a production decision and does not yet have a positive
mining study that would support making such a decision. 


It is currently management's intention to work towards securing a positive
mining study demonstrating the technical feasibility and economic viability of
the Property. The Company's ability to complete a mining study and progress to
mining operations on the Property is subject to a number of factors including
market conditions and the ability of the Company to secure sufficient financing
to fund proposed operations and the completion of a mining study.


Mr. Andrew Vigar, BCppSc, FAusIMM, MSEG, of Mining Associates Limited, a
Qualified Person as defined by NI 43-101, prepared the scientific and technical
information in this news release. Mr. Vigar is an independent technical
consultant to the Company.


About the Company

Kazax Minerals Inc. is a mining exploration and development company focusing on
iron. Other world-wide target acquisitions are being sought. Kazax aims to be a
significant mid-tier international mine exploration and development company in
the iron sector.


For additional information readers are invited to review additional corporate
and property information available on SEDAR at www.sedar.com.


ON BEHALF OF THE BOARD

David Savage, President & CEO

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "schedule", "believe", "plans",
"intends" and similar expressions are intended to identify forward-looking
information or statements. More particularly and without limitation, this news
release contains forward looking statements and information concerning the
Company's future operations and prospects. The forward-looking statements and
information are based on certain key expectations and assumptions made by the
Company, including expectations and assumptions concerning equipment and crew
availability, and financial capability. Although the Company believes that the
expectations and assumptions on which such forward-looking statements and
information are based are reasonable, undue reliance should not be placed on the
forward looking statements and information because the Company can give no
assurance that they will prove to be correct. By its nature, such
forward-looking information is subject to various risks and uncertainties, which
could cause the Company's actual results and experience to differ materially
from the anticipated results or expectations expressed. These risks and
uncertainties include, but are not limited to, commodities pricing and
assumptions, projections concerning estimated mineral resources, the business of
the Company may suffer as a result of uncertainty surrounding the commodities
markets; the ability to maintain existing mining leases and rights and the
ability obtain new mining leases, rights and permits; governmental and
regulatory approvals, the Company's ability to continue to execute its growth
strategies; the Company's ability to secure additional financing; the Company
may be adversely affected by other economic, business, and/or competitive
factors and general economic conditions. Additional information on these and
other factors is available in continuous disclosure materials filed by the
Company with Canadian securities regulators. Readers are cautioned not to place
undue reliance on this forward-looking information, which is given as of the
date it is expressed in this news release or otherwise, and to not use
future-oriented information or financial outlooks for anything other than their
intended purpose. The Company undertakes no obligation to update publicly or
revise any forward-looking information, whether as a result of new information,
future events or otherwise, except as required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Kazax Minerals Inc.
David Price
604 398 5380
604 398 5387 (FAX)
david.price@kazaxmineralsinc.com
www.kazaxmineralsinc.com


Kazax Minerals Inc.
jeremy@chfir.com

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