NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Kazax Minerals Inc. ("Kazax" or the "Company") (TSX VENTURE:KZX) subject to the
approval of the TSX Venture Exchange, the Company intends to complete a
non-brokered private placement (the "Private Placement") for up to Cdn
$12,000,000 in aggregate principal amount of convertible unsecured non-interest
bearing debentures (the "Debentures"). The Debentures will be direct, unsecured
obligations of the Company, ranking equally with all other unsecured
indebtedness of the Company.


The Debentures will mature and become payable on the date that is three years
from the date of issuance (the "Maturity Date"). Upon receipt of all necessary
approvals from the Kazakh Ministry of Industry and New Technologies ("MINT") for
the conversion of the Debentures, the principal amount of the Debentures will be
convertible on or before the Maturity Date, at the option of the holder, into
units of the Company (the "Units") at a conversion price of Cdn $0.285 per Unit.


Each Unit will be comprised of one common share (a "Share") of the Company, and
one-half of one share purchase warrant (a "Warrant") with each whole Warrant
exercisable to purchase an additional Share (a "Warrant Share") for a period of
three years from the date of issuance of the Debentures at an exercise price of
Cdn $0.35. In the event that the closing price of the common shares of the
Company on TSX Venture Exchange is equal to or exceeds $1.00 for a period of 10
consecutive trading days (the "Acceleration Event"), the Warrants will expire on
the date which is 90 calendar days after the Company provides notice to the
holders of the Warrants that the Acceleration Event has occurred.


The Debentures, and any Shares, Warrants or Warrant Shares issued upon
conversion of the Debentures will be subject to a hold period expiring four
months and one day from the date the Debentures are issued. The proceeds of the
Private Placement will be used for general working capital purposes.


About the Company

Kazax Minerals Inc. is a mining exploration and development company focusing on
iron ore. 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 ore 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 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, reservoir performance,
labour, equipment and material costs, access to capital markets, interest and
currency exchange rates, and political and 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
604 398 5387 (FAX)
david.price@kazaxmineralsinc.com
www.kazaxmineralsinc.com