Crystallex International Corporation (the ''Company'') is pleased to announce that it has begun its Phase III, 5,000 metre diamond drill program at its Albino 1 concession located in the Kilometre 88 district of Venezuela.

The initial 1,200 metres of drilling will investigate a number of strong saprolite anomalies located on the western portion of the concession. These anomalies were previously identified by auger and vibracore drilling to depths of 7 metres. The purpose of the diamond drilling program is to explore for broad, low-grade pyritic shear zones such as those in Placer Dome's adjacent Las Cristinas property and Gold Reserves' Brisas del Cuyuni concession, which collectively contain 15 million ounces of gold at grades in the 0.03 to 0.1 oz/ton Au range. Upon successful completion of this program, the Company plans to treat the low-grade saprolites with heap leaching techniques.

The remaining 3,800 metres of drilling in this phase will systematically investigate the down dip and lateral extensions of the La Conductora and Aguao 2 shear zones. Drilling along the La Conductora shear to date has traced the zone over a strike length of 800 feet. Within this zone, a 300 foot long high grade ore shoot has been delineated which is open at depth and along strike to the southwest. The higher portion of this mineralized zone contains material averaging in excess of 0.35 oz/ton Au over 35 feet, including an intersection 1.02 oz/ton Au over 42 feet. Drilling on the Aguao 2 zone will investigate the down-dip extension of a 500 foot long mineralized ore shoot where previous drilling intersected up to 0.39 oz/ton Au over 20 feet and 0.27 oz/ton Au over 24 feet.

The purpose of the diamond drill program along the La Conductora and Aguao 2 zones is to substantially expand the property's reserves that presently stand at over 800,000 tons grading 0.25 oz/ton Au. It is the Company's objective to increase its proven-probable reserves to 500,000 ounces by August of this year and to reach 1,000,000 ounces by year end.

On Behalf of the Board,

"Marc J, Oppenheimer"

Marc J, Oppenheimer, President & CEO

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