Crystallex International Corporation (T.S.E. symbol KRY) today announced the results of the 1996 drill program carried out at its 100% owned Albino 1 concession located in the Kilometre 88 region of Venezuela. Between July and November 1996, 56 holes (ALB-07 to ALB-62) totaling 10,500 metres were drilled on the property. Holes ALB-07 to ALB-48 were drilled at 25 m X 25 m spacing along the La Conductora - Aguao 2 zone. Holes ALB-49, 50 and 57 to 61 were drilled to test peripheral targets.

The purpose of grid drilling along the La Conductora - Aguao 2 shear system was to outline additional reserves in saprolite and extend the mineralized ore shoots down plunge to a maximum vertical depth of 250 m in the La Conductora Zone and 100 m at Aguao 2. All holes encountered shear hosted gold mineralization between sections 5000 N and 4675 N indicating that mineralization is open at depth along both the La Conductora and Aguao 2 ore shoots. Furthermore a short hole (ALB96-49) drilled on section 4475 N encountered the southwestern extension of the mineralized shear at shallow depth (3.13 g/t Au between 4.50 m and 8.85 m). This strongly suggests that the potential for finding additional ore shoots along the 1 km long gold-in- soil geochemical anomaly located southwest of the Aguao 2 zone should be excellent.

Previously unreported drill intercepts from the La Conductora and Aguao 2 zones include:

 
Scout drilling of peripheral targets encountered low grade mineralization (1 to 3 g/t Au) over widths of l m to 3 m. The best mineralization was intersected in hole ALB96-60 which cut the Palmarito vein between 81.83 m and 83.40 m (1.57 m 4.76 g/t Au).

As a result of the latest drill program, the reserves at Albino have increased to 1,589,500 metric tons averaging 6.03 g/t Au (9.58 metric tons of contained gold, equivalent to 309,000 ounces). With the addition of the Mineiro property in Brazil, Crystallex now has overall reserves in excess of 500,000 ounces of gold. Drilling on the Albino will continue throughout 1997, and the Company expects to begin drilling in Brazil in the first half of 1997.

The new reserves on Albino are distributed as follows:

Crystallex International Corporation is a gold mining and exploration company. The Company's Albino mine is the first foreign-owned gold mine operating in the Kilometre 88 region of Venezuela. The Company's strategy for growth is to develop its portfolio of properties in South America as well as to diversify geographically by investing in producing or near-production projects and by exploring properties of merit in other areas of the world.

On Behalf of the Board,

"Marc J, Oppenheimer"

Marc J, Oppenheimer, President & CEO

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