Huakan International Mining Inc. Provides Update on the Net Smelter Returns Royalty Buyout on the Greenwood Gold Project

Huakan International Mining Inc. (TSX VENTURE:HK) (the "Company") reports that
the Company has entered into an amended and restated letter agreement ("Amended
Agreement") with Mineral Invest International MII AB, a company listed on
Aktietorget in Sweden under the stock symbol MII ("Mineral Invest"), Gold Crown
LLC ("Gold Crown") and AMT Industries Canada Inc. ("AMT"), Gold Crown's wholly
owned subsidiary (collectively, the "Purchasers") to amend the terms of a letter
agreement entered into by the Company, Gold Crown and AMT on August 7, 2012 in
respect of the sale by the Company of the Greenwood Gold Project (see the News
Release of the Company dated August 8, 2012).


Pursuant to the terms of the Amended Agreement, Mineral Invest will guarantee
the performance by Gold Crown and AMT of the following:




1.  pay an amount to the Company sufficient to replace the Company's
    reclamation bond on the Greenwood Gold Project which amount the Company
    shall pay to the Government of British Columbia in order to release the
    security (currently approximately $450,000) that was posted by the
    Company;
    
    
2.  cooperate with the Company to execute and deliver a Safekeeping
    Agreement with the Government of British Columbia, which relates to the
    reclamation security to be provided to the Government of British
    Columbia by Gold Crown and AMT;
    
      
3.  pay to the Company the amount of $4,000,000 which represents the balance
    of the purchase price for acquisition of the NSR; and 
    
    
4.  pay a total of $400,000 in extension fees, consisting of a fee of
    $200,000 to extend certain deadlines under the third amendment (dated
    February 6, 2013) to the letter agreement dated August 7, 2012 among the
    Company, Gold Crown and AMT, and a fee of $200,000 to further extend
    such deadlines under the Amended Agreement.  



The Purchasers must complete all of the above by no later than 3 p.m. (Pacific
Standard Time) on the earlier of June 10, 2013, and the date that is five
business days after either Mineral Invest or Gold Crown complete a financing of
at least $11,000,000. 


Despite the delay in receiving the full payment, the Company did receive
$530,000 from the Purchasers in January and in addition to receiving $624,568
refund from the Canada Revenue Agency related to the 2011 Mineral and
Exploration Tax Credit (METC) in March, there is sufficient cash on hand for the
Company's general and administrative expenses and for advancing the J&L Gold
Project metallurgy testwork planned for 2013.


CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements made and information contained herein may contain
forward-looking statements or forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or forward-looking
information include, but are not limited to, statements concerning the sale of
the Greenwood Gold Project assets, and statements concerning the J&L Gold
Project metallurgical testwork programs. Forward-looking statements or
information include statements regarding the expectations and beliefs of
management. Often, but not always, forward-looking statements and
forward-looking information can be identified by the use of words such as
"plans", "expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or the negatives thereof or
variations of such words and phrases or statements that certain actions, events
or results "may", "could", "would", "might" or "will" be taken, occur or be
achieved. Forward-looking statements or information include, but are not limited
to, statements or information with respect to known or unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of the Company, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements or information. 


Forward-looking statements or information are subject to a variety of risks and
uncertainties which could cause actual events or results to differ from those
reflected in the forward-looking statements or information, including, without
limitation, risks and uncertainties relating to: completion of announced
transactions, history of losses; requirements for additional capital; dilution;
loss of its material properties; interest rates increase; global economy;
limited history of production; speculative nature of exploration activities;
periodic interruptions to exploration, development and mining activities;
environmental hazards and liability; industrial accidents; failure of processing
and mining equipment; labour disputes; supply problems; commodity price
fluctuations; uncertainty of production and cost estimates; the interpretation
of drill results and the estimation of mineral resources and reserves; legal and
regulatory proceedings and community actions; title matters; regulatory
restrictions; permitting and licensing; volatility of the market price of common
shares; insurance; competition; hedging activities; currency fluctuations; and
loss of key employees. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described in forward-looking statements or
information. Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information. The Company disclaims any intent or
obligation to update forward-looking statements or information except as
required by law, and you are referred to the full discussion of the Company's
business contained in the Company's reports filed with the securities regulatory
authorities in Canada.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Huakan International Mining Inc.
Fiona Leung
Chief Financial Officer
(604) 694-2344
www.huakanmining.com


TMX Equicom
Joe Racanelli
(416) 815-0700 ext. 243
Huakan International Mining Inc. (TSXV:HK)
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