KZX

Kazax Minerals Inc. ("Kazax" or the "Company") (TSX VENTURE:KZX). Further to its
news releases of February 19, 2013 and April 30, 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"), the Company announces the issuance of a second tranche share payment
to Safin under the terms of the Acquisition share purchase agreement (the
"SPA").


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


The Company previously announced completion of a first tranche payment to Safin
under the SPA comprised of a cash payment of US $6,933,784 and the issuance of
23,076,000 common shares of the Company at a price of CDN $0.20 per common
share.


Under the terms of the SPA, in consideration of the LP interest, the Company was
required to make 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. The Company has now issued 13,086,971 Second
Installment Consideration Shares to Safin at a price of $0.275 per share. The
Second Installment Payments will commence on June 30, 2013.


In addition, the terms of the SPA require that the Company must make a third
payment totalling 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.  


The Second Installment Consideration Shares issued to Safin are subject to
resale restrictions until September 29, 2013. In addition, under the terms of
the SPA the parties have agreed that 25% of the Second Installment Consideration
Shares will have an additional hold period expiring 12 months from issuance, 25%
of the Second Installment Consideration Shares will have an additional hold
period expiring 18 months from issuance and 25% of the Second Installment
Consideration Shares will have an additional hold period expiring 24 months from
issuance. 


Immediately prior to the closing of the Acquisition, Safin had ownership and/or
control over 23,076,000 common shares of Kazax. Upon completion of the
Acquisition, Safin, together with its parent company, Safin HandelsgesmbH, of
Vienna, Austria, ("Safin Parent") have ownership and/or control over the
36,282,971 common shares, representing approximately 20.29% of the issued common
shares of Kazax. Safin acquired the Second Installment Consideration Shares for
investment purposes, and neither Safin nor Safin Parent have any present
intention to acquire further securities of Kazax other than the Third
Installment Consideration Shares, although either Safin or Safin Parent may in
the future acquire or dispose of securities of Kazax in the market, privately or
otherwise, as circumstances or market conditions warrant.


As previously disclosed, 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. 


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
david.price@kazaxmineralsinc.com
www.kazaxmineralsinc.com


Kazax Minerals Inc.
jeremy@chfir.com

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