KazaX Minerals Inc. Provides Update on Lomonosovskoye Project

VANCOUVER, July 10, 2013 - Kazax Minerals Inc. (TSX VENTURE:KZX) (the "Company") Further to its news releases of February 19, 2013, April 30, 2013, May 30, 2013 and July 3, 2013 announcing the acquisition (the "Acquisition") of a 75% interest in the Lomonosovskoye Limited Liability Partnership (the "LP") from Safin Element GmbH ("Safin"), the Company advises that representatives of the Company have met with Safin and have reached an agreement in principle with respect to the rescheduling of the various payments due in connection with the Acquisition. Negotiations continue in relation to the formalization and documentation of this agreement and the Company will update the market as soon as it is able to do so.

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

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.

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.



Contact

Kazax Minerals Inc.
604 398 5380
info@kazaxmineralsinc.com
www.kazaxmineralsinc.com
or jeremy@chfir.com