|By Marketwired .||
|April 29, 2014 12:34 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/29/14 -- Kazax Minerals Inc. ("Kazax" or the "Company") (TSX VENTURE: KZX) is pleased to announce that it has reached an amicable settlement with LogiCamms Limited ("LogiCamms") in relation to legal proceedings arising from some uncertainty as to work scope and payment in connection with work carried out by LogiCamms for the Company's Lomonosovskoye Project in Kazakhstan. The legal proceedings will be withdrawn on the back of the amicable settlement; subject to a payment of AUD 700,000 (approx. USD 645,000) by Kazax to LogiCamms in 4 instalments.
On the basis of the amicable nature of the settlement, and the continuing good relationship between the parties, Kazax's engagement of LogiCamms will continue with the parties working together to complete the design and specification of the Lomonosovskoye Project beneficiation plant and associated facilities for the purposes of advancing the bankable feasibility study in relation to the Lomonosovskoye Project.
For further information on Kazax and the Lomonosovskoye Project, please visit our website at www.kazaxmineralsinc.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.