Crystallex International Corporation (VSE - KRY) is pleased to announce that it has received CDN$4,456,827 from the exercise of two classes of warrants to purchase an aggregate of 1,473,806 common shares. The first warrant, exercisable at $3.15 per share, came from the acquisition of Eurus Resource Corp. The second warrant exercisable at $2.50 in the first year and $3.00 in the second year was issued as part of a financing in 1994. Crystallex now has approximately CDN$20.4 million in cash (including escrowed amounts pending receipt of approval of the prospectus), less than CDN$500,000 in long-term debt and 16,575,759 common shares outstanding (not including the 8,175,000 common shares to be issued on the exercise of the special warrants issued in June, 1996).

The proceeds from the exercise of the warrants will primarily be used to continue the development of the Albino property in Kilometre 88, Venezuela as well as other projects which may be available to the Company.

Crystallex is a gold mining and exploration company focused in Northern South America. The Company's Albino mine is the first foreign-owned gold mine operating in the Kilometre 88 region of Venezuela. The Company has several other properties in Venezuela.

On Behalf of the Board,

"Marc J, Oppenheimer"

Marc J, Oppenheimer, President & CEO

NOTE: The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.