KZX

Kazax Minerals Inc. ("Kazax" or the "Company") (TSX VENTURE:KZX) is pleased to
announce that its independent Qualified Person (the "QP"), Mr Andrew Vigar of
Mining Associates ("MA"), has completed a revised resource estimate on the
Lomonosovskoye Iron Project, located in the Republic of Kazakhstan. 


The revised estimate for the Lomonosovskoye Project is based on the same drill
database as used in the report prepared in compliance with National Instrument
43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), which was
dated December 18, 2012 (and resubmitted on SEDAR on May 9, 2013) (the "December
2012 report"), but with a re-interpretation of the geological and geophysical
data, the addition of further assays from some un-sampled intervals and an
estimation method that includes an allowance for bulk open-pit or underground
mining. This better understanding of the geology and mineralization controls and
additional definition provided by the down-hole geophysics has allowed an
increase in the confidence levels of the estimates.


The new mineral resource estimate is outlined below, above a cut-off grade of
20% Fe:




----------------------------------------------------------------------------
           Mineral Resource Estimate for Combined Lomonosovskoye,           
              Effective Date of April 15, 2014, cut-off 20% Fe              
----------------------------------------------------------------------------
Class                             Mt      Fe %       P %       S %     FeM %
----------------------------------------------------------------------------
Measured                        63.9      30.5      0.29      3.01      21.3
----------------------------------------------------------------------------
Indicated                      414.2      30.6      0.22       3.3     21.04
----------------------------------------------------------------------------
Measured & Indicated           478.1      30.5       3.6       3.3      21.1
----------------------------------------------------------------------------
Inferred                        28.4      28.0      0.28      3.04     16.71
----------------------------------------------------------------------------



The current resource estimate is based on holes drilled and assays received up
to 23 November 2012. The magnetic anomaly contours and historical geological
cross sections were used to constrain and extend the resource estimation domains
up to 50m beyond last drillhole, where reasonable. Three dimensional wireframes
were constructed for each domain guided by 5m bench composites, downhole
magnetic susceptibility data, newly translated lithology logs and magnetic and
gravity maps. Interpretations at a 10% Fe cut-off grade were made for the
Northwest Central deposits. 


Assay results were composited to 5 meter intervals down-hole within domains. Fe
assay results were capped at the 99.5 percentile for the Northwest deposit and
99.9 percentile for the Central deposit while no capping was required for the
magnetite content. The Block Model extents cover the combined Northwest and
Central deposits, with a block size of 15mN x 15mE x 10mRL, without sub-blocking
to reflect block open-pit or underground. An indicator approach was used to
select blocks with a greater than 40% probability of being above a cut-off
grades of 20% Fe within domains. Grade was interpolated into a constrained block
model using all 5m sample composites within above or below 20% Fe blocks,
including samples with a value below or above 20% Fe respectively. This is
considered to represent the true "mining block" grade, including both internal
and edge dilution. Ordinary Kriging estimation technique with anisotropy was
applied.


Maximum search was varied by domain, from 150 to 300m with three to 24 informing
samples. Density was calculated using the following formula: density = 0.0213 x
Fe content + 2.74 taken from the linear regression plot for density against Fe
content for over 3,000 samples. Resources are reported above 20% Fe for both
deposits. 


Where reference is made in the table above to "Inferred", this refers to within
domain wireframes and with at least three informing samples. Where reference is
made in the table above to "Indicated", this refers to within domain wireframes
and the maximum of 24 informing samples and Krig Slope greater than 0.1. Where
reference is made in the table above to "Measured", this refers to within domain
wireframes and the maximum of 24 informing samples and a Krig Slope greater than
0.5.


The new estimate represents an increase in tonnage of 45% and an increase in
contained iron of 25% in the measured and indicated mineral resource categories
over the estimates included in the December 2012 report. The changes from the
estimates in the December 2012 report relate to increased confidence levels, as
well as changes in the estimation methodology. As a result of new assay
information from old drill hole samples, which filled some unsampled intervals
in the database, and the use of the down-hole geophysical data to better define
low-grade areas, the inclusion of mining dilution within the mining blocks has
increased tonnage without a corresponding loss of contained metal at an
unchanged cut-off grade of 20% Fe; nevertheless, the overall effect has been to
lower the average grade of estimated mineral resources. 


The Lomonosovskoye Iron Project is located in the northwest corner of the
Republic of Kazakhstan in the Kostanay Region, 618km northwest of the country's
capital of Astana and 50km west-southwest of the regional capital of Kostanay.
The Project is located close to the town of Rudniy and existing significant iron
mining-processing operations. The area has considerable industrial
infrastructure.


The Lomonosovskoye Project has been subject to various geophysical and drilling
surveys from 1951 through to 1984, during which time several mineral resource
estimates were conducted. Some 412 diamond drill holes for a total meterage
drilled of 131,441m were recorded in the database for the contract area prior to
the 2012 drilling, of which 190 drill holes were angled holes. A further 22
drill holes were completed in 2012 for a total of 9,049m, selected and
supervised by MA and assayed by an independent, certified lab (ALS Global) to
validate the historical drilling and for this mineral resource estimate. This
estimate is based on the data set used in the December 2012 report, with
additional assaying of stored samples and interpretation of down-hole
geophysical logs. It is expected that drilling completed in 2013 and 2014 will
be included in the next update.


It is MA's opinion that the mineral resource estimates included in the December
2012 report have been largely verified by the new estimates, with the changes in
tonnage and grade reflecting increased confidence and the use of an estimation
methodology better suited to bulk surface and underground mining. The new
estimates are fully diluted for internal and edge mining dilution.


The mineralization domains were redefined by 3D wireframes using drill assay
data, detailed geology logs and down-hole magnetic susceptibility logs. The
deposit was divided into blocks above and below 20% Fe using an indicator
approach. Grades and mineralization percentages were then estimated by Ordinary
Kriging into blocks 15x15x10m in size within each domain.


The Lomonosovskoye Project contains significant magnetite iron mineralization in
two deposits comprised of seven adjacent domains which have similar geological
settings to the nearby operating magnetite iron ore open pit and underground
mines in the Rudniy region.


Historical work to date has outlined skarn iron mineralization at the NW Deposit
and the Central Deposit beneath 100m of overburden and extending to 1600m depth
in the NW Deposit, and some 900m at Central.


MA notes that the Lomonosovskoye Project has a favourable location due to its
proximity to transportation routes, and sources of water, gas, and power supply,
which have been established with the regional mining complex based in Rudniy.
This may allow a reduction in capital expenditure and may reduce the cost of
production if the project proceeds to development through the use of shared
infrastructure.


As discussed in the December 2012 report (which was refiled on SEDAR on May 9,
2013), there is a possible risk relating to the prior transfer to the Company of
certain subsoil use contract rights.


The QP makes the following observations and conclusions regarding the
Lomonosovskoye Project in the Report:




--  Significant skarn type iron mineralization exists at the Lomonosovskoye
    Project. 
    
--  The mineralization occurs in 3 main types - disseminated, veins and
    massive. 
    
--  The deposit remains open at depth and along the lateral extents in
    certain areas as well as being under-drilled in the mid portion between
    the NW and Central deposits. This area is currently being tested with
    diamond drilling. 
    
--  The resource estimates will be updated based on the results of the
    drilling program currently underway. 
    
--  Following a more rigorous and reliable testing of density, a calculated
    density has been applied to iron bearing blocks within the block model
    rather than fixed values as in the past. 



Mr. Andrew Vigar, BCppSc, FAusIMM, MSEG, of Mining Associates Limited is a
Qualified Person as defined by NI 43-101 and has supervised and approved of the
scientific and technical information in this news release.


For further information on Kazax, readers are invited to review additional
corporate and property information available on the Company's website
(www.kazaxmineralsinc.com) and to Canadian regulatory filings on SEDAR at
www.sedar.com.


ON BEHALF OF THE BOARD

Trevor Campbell Smith, President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995 and "forward
looking information" within the meaning of the British Columbia Securities Act
and the Alberta Securities Act. Generally, the words "expect", "intend",
"estimate", "will" and similar expressions identify forward-looking information.
By their very nature, forward-looking statements are subject to known and
unknown risks and uncertainties that may cause our actual results, performance
or achievements, or that of our industry, to differ materially from those
expressed or implied in any of our forward looking information. Statements in
this press release regarding Kazax's business or proposed business, which are
not historical facts, are forward-looking information that involve risks and
uncertainties, such as estimates and statements that describe Kazax's future
plans, objectives or goals, including words to the effect that Kazax or
management expects a stated condition or result to occur. Since forward-looking
statements address events and conditions, by their very nature, they involve
inherent risks and uncertainties. Actual results in each case could differ
materially from those currently anticipated in such statements. Investors are
cautioned not to place undue reliance on forward-looking statements, which speak
only as of the date they are made. All of the Company's Canadian public
disclosure filings may be accessed via www.sedar.com and readers are urged to
review these materials, including the technical reports filed with respect to
the Company's mineral properties. The foregoing commentary is based on the
beliefs, expectations and opinions of management on the date the statements are
made. The Company disclaims any intention or obligation to update or revise
forward-looking information, whether as a result of new information, future
events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Kazax Minerals Inc.
+7 7172 99 05 49
info@kazaxmineralsinc.com
www.kazaxmineralsinc.com

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