KazaX Minerals Inc. announced that several management changes have been made with a view to the project entering its final feasibility, financing and pre-start phase. Steve Rodgers, formerly the CEO of Kazax has stepped back to an advisory role due to other commitments and David Savage, currently Chairman and President of Kazax, will assume the CEO responsibilities. Kevin Morris, formerly CFO, has stepped down and Brian Egan will assume the role of CFO. Mr. Egan, a Chartered Accountant with more than 25 years of senior finance experience in large multinational organizations related to Mining, will be a strong addition to the Kazax executive. Mr. Egan was formerly CFO of Petropavlovsk PLC and Aricom plc Chris Rowe, currently heading the in country project team in Kazakhstan, has been appointed as Kazax Country Manager for Kazakhstan and will lead the in country team through the final feasibility and start up stages of the project. With Mr. Savage assuming the President and CEO role, he will step down as Chairman of Kazax and Daniel Kunz, currently an Independent Director of Kazax will assume the role of Non-Executive Chairman of the Kazax Board of Directors. Mr. Kunz has more than 30 years of mining experience. Mr. Kunz was previously the President and Chief Operating Officer of Ivanhoe Mines Ltd. and brings a strong source of mine development knowledge to the board. These changes have all been made with a view to prepare the project for commencement of operations.

KazaX Minerals Inc. reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2012. For the quarter, the company reported loss before other items of CAD 3,612,384 compared to CAD 37,372 a year ago. Interest income was CAD 51,314 compared to nil in the previous year. Net loss and comprehensive loss for the year was CAD 3,561,070 or CAD 0.03 per basic and diluted share compared to CAD 37,372 or CAD 0.00 per basic and diluted share a year ago. For the six months, the company reported loss before other items of CAD 5,560,587 compared to CAD 56,438 a year ago. Interest income was CAD 113,361 compared to nil in the previous year. Net loss and comprehensive loss for the year was CAD 5,447,226 or CAD 0.05 per basic and diluted share compared to CAD 56,438 or CAD 0.01 per basic and diluted share a year ago. Net cash used in operating activities was CAD 7,269,884 compared to CAD 79,393 a year ago. Purchase of equipment was CAD 54,887 compared to nil in the previous year.

KazaX Minerals Inc. reported unaudited consolidated earnings results for the quarter ended June 30, 2012. For the quarter, the company reported loss before other items of CAD 1,948,203 compared to CAD 19,066 a year ago. Net loss and comprehensive loss for the year was CAD 1,886,156 or CAD 0.02 per basic and diluted share compared to CAD 19,066 or CAD 0.00 per basic and diluted share a year ago. Net cash used in operating activities was CAD 2,448,148 compared to CAD 49,997 a year ago. Purchase of equipment was CAD 43,739.