KZX

Kazax Minerals Inc. ("Kazax" or the "Company") (TSX VENTURE:KZX) announces, as
an update to its news release of February 19, 2013 announcing the acquisition
(the "Acquisition") of a 75% interest (the "LP Interest") in the Lomonosovskoye
Limited Liability Partnership (the "LP") from Safin Element GmbH ("Safin"), that
Safin has extended (the "Extension") the commencement of quarterly cash payments
due in connection with the Acquisition from March 30, 2013 to June 30, 2013. An
extension to issue the second installment consideration shares was also granted
to May 31, 2013. 


As previously disclosed, the LP holds unrestricted exploration and production
rights to the Lomonosovskoye iron project located in Kostanay Oblast Kazakhstan
(the "Property") pursuant to a subsoil use contract between the LP and the
Ministry of Industry and New Technologies of Kazakhstan ("MINT").


Pursuant to the Acquisition share purchase agreement (the "SPA"), the Company
will acquire the LP Interest from Safin for aggregate consideration payable as
follows:




1.  In connection with closing, the Company made an initial payment of US
    $13,587,040 to Safin, comprised of a cash payment of US $6,933,784 and
    US $4,615,200 through the issuance of 23,076,000 common shares (the
    "First Payment Shares") of the Company at a price of CDN $0.20 per
    common share; 
2.  A second payment of US $18,800,480, comprised of a cash payment of US
    $15,230,480 (inclusive of Capital Gains Tax) payable quarterly (the
    "Second Installment Payments"), and a conditional payment of US
    $3,570,000 payable through the issuance of common shares (the "Second
    Installment Consideration Shares") of the Company at a price per common
    share equal to the volume weighted average price at which the common
    shares of the Company trade on the TSX Venture Exchange (the "Exchange")
    for the five trading days prior to issuance. Following the Extension,
    the quarterly Second Installment Payments will commence on June 30,
    2013; and 
3.  A third payment of US $18,800,480 comprised of a cash payment of US
    $15,230,480 (inclusive of Capital Gains Tax) payable quarterly
    commencing March 30, 2014, and a conditional payment of US $3,570,000
    payable through the issuance of common shares (the "Third Installment
    Consideration Shares") of the Company at a price per common share equal
    to the volume weighted average price at which the common shares of the
    Company trade on the Exchange for the five trading days prior to
    issuance.  



As previously disclosed, issuance of the Second Installment Consideration Shares
are issuable by the Company on or before thirty (30) business days following
receipt by the Company of the results of tests by an independent laboratory
confirming, to the Company's satisfaction, the iron product quality of the
Deposit and the issuance of the Third Installment Consideration Shares are
issuable by the Company on or before thirty (30) business days following the
later of (a) receipt by the Company of the results of a drill program to be
undertaken by the Company confirming, to the Company's satisfaction, the level
of certainty of the historical mineral estimates for the Property and (b) the
completion by the Company of a resource estimate conducted under the supervision
of an independent qualified person. 


In addition, Kazax announces that is has engaged CHF Investor Relations, a
highly regarded Canadian investor relations firm headquartered in Toronto, as
its IR service provider. 


Effective immediately, the services agreement for investor relations and
market-making is for a term of twelve months to March 15, 2014, and may be
extended for up to one year. Under the terms of the services agreement, which is
subject to Exchange approval, CHF will receive $7,500 per month in fees and
reimbursement of expenses. CHF has been granted a total of 500,000 stock options
at an exercise price of $0.50 per share, subject to receipt of approval of the
Exchange and from MINT. The options vest quarterly over twelve months and have a
thirteen-month term. Upon termination of the services agreement, any vested
options will be cancelled after 30 days, as is required for TSX Venture's Tier 2
Issuers. 


The market-making activity will be conducted using a registered broker in
compliance with Policy 3.4 of the TSX Venture Exchange Corporate Finance Manual
(the "Manual"), IIROC's Universal Market Integrity Rules & Policies (2010) and
other relevant policies, so that trading orders in Kazax's shares are made to
manage share price volatility and imbalances of orders in order to improve
trading liquidity on the exchange. In accordance with Policy 3.4, section 2.8 of
the Manual that states in part "an Issuer may not use its own funds, or provide
direct or indirect compensation to other parties to undertake a market-making
function in its securities", the Company and CHF confirm that capital for the
purposes of market-making has not and will not be provided from the Company's
treasury.


Prior to the grant of options outlined above, CHF had no direct or indirect
interest in the Company or its securities.


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

Should you wish to receive Company news via email, please email
michelle@chfir.com and specify "Kazax Minerals" in the subject line. 


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 joint venture partner 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
david.price@kazaxmineralsinc.com
604 398 5387 (FAX)
www.kazaxmineralsinc.com


CHF Investor Relations
Jeremy Hill
416 868 1079 x238
jeremy@chfir.com

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