Kazax Announces Initial Resource Estimate of Lomonosovsky Iron Magnetite Project

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Kazax Minerals Inc. (KZX.V) announced the release of a National Instrument 43-101 compliant technical report on the company's Lomonosovsky Project in Kazakhstan.

The report provides a resource estimate for the Lomonosovsky Project as at December 2012, showing Measured and Indicated resources of 333.5 million tonnes grading 36.6% total iron and Inferred resources of 108.7 million tonnes grading 34.8% total iron.

The project team continues to progress the feasibility study. The milestones to submit the applications for the registration of the state reserve and the approval to start pre-strip and mining operations remains on target for the first quarter of 2013. Start-up of the pre-stripping operation remains on target for the middle of 2013.



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