VANCOUVER - CRYSTALLEX INTERNATIONAL CORPORATION (AMEX: KRY; Toronto) today released a summary and update of the Company's active 1997 production and exploration programs.

"We are very pleased with the progress this year of our exploration activities at Crystallex's various properties, and especially with the increased activity at our Albino property in Venezuela," said Marc J. Oppenheimer, President and CEO of Crystallex. "We are clearly on target for achieving our initial strategic objective of producing 150,000 ounces of gold each year, within three years."

Although recent attention has focused on the Company's action before the Supreme Court with regard to its Cristinas 4 and 6 concessions in Venezuela, Crystallex is currently in operation at several different international sites.

The following update summarizes technical details of the 1997 activities and exploration at the Company's Albino 1, Mineiro, Amapa Reconnaissance, and Knob Hill properties.

ALBINO 1

Production: Gold production at Albino through September exceeded 8,000 ounces, with 7,031 ounces of bullion sold, compared with 4,500 ounces in 1996. This puts Albino in line with a forecast of 12,000 ounces of production to year-end. Mill throughput during the month of September averaged 367 dry tons per day compared to the 1996 average of 93 tons per day, an improvement that resulted from detailed analysis and operations research regarding prior years' activities.

Mine production of ore and waste exceeded 3,000 tpd compared to 800 tpd during 1996. The increased stripping includes pre-stripping of a newly- identified pit connecting the Conductora pit and the Aguao 2 pit. The new pit will provide saprolite feed to the mill during 1998 pending the development of the higher grade hard rock mine. Once the hard rock mine comes on-line, the Company anticipates that gold production will approximately triple with projected cash costs below $200 per ounce.

Other activities at Albino centered on the rehabilitation of mined out areas and reforestation of the areas surrounding the mine.

Exploration: During the first quarter of 1997, exploration activities at Albino 1 included 2,630 metres of diamond drilling in 13 holes to test for the down-plunge and lateral continuity of the La Conductora-Aguao 2 shear system. Shear hosted gold mineralization was intercepted in all 13 holes. Deep intersections assayed up to 10 g/t Au over 2.64 metres and 4.06 g/t Au over 7.07 metres. The deep drill program was followed by 600 metres of diamond drilling aimed at increasing the saprolite mineralized deposit between the La Conductora and Aguao pits. This shallow drill program encountered excellent mineralization in saprolite, including 6.75 metres which assayed 13.70 g/t Au in hole ALB-97-18. As a consequence of the shallow drill program, which found mineable saprolite mineralization across the entire length of the Aguao 2-La Conductora shear, a decision was made to expand open pit operations at Albino.

Concomitantly with the second phase of drilling, 1,635 metres of backhoe trenches were excavated to investigate strong gold-in soil geochemical anomalies southwest of the Aguao 2 pit and surface mineralization in the Medina 3 area. Several mineralized intervals grading between 1.0 and greater than 4.O g/t Au were identified in the area SW of Aguao 2. Best intervals averaged 18 metres at 2.85 g/t Au in trench Ml-T1 and 10.5 metres at 1.79 g/t Au in trench Ml-T2. In the Medina 3 area, trench results included 11.60 m at 2.91 g/t Au in M3-T1 and 7.50 m at 3.09 g/t Au in trench M3-T2.

The Company is currently initiating a 3,000 metre third phase of drilling along with mechanized trenching along the entire length of the property. The first 1,300 metres of drilling will test shallow targets in the vicinity of the Conductora-Aguao 2 pit with the aim of expanding the mineable mineralized deposit in saprolite. The remaining 1,700 metres will be drilled later in the season to investigate drill targets identified by the trenching program.

MINEIRO

Crystallex began work on the 9,600 hectare Mineiro property in early spring of this year. Gold mineralization at Mineiro had previously been discovered by BP Minerals (the mining unit of British Petroleum), under an exploration program that culminated in a 6,000 metre diamond drill program which identified a shallow gold mineralized deposit of approximately 330,000 ounces of gold. Most of BP's drilling had been confined to a 2 km segment of a mineralized quartzite unit named the "Seta" target.

Crystallex's 1997 Mineiro work program has been focused on the investigation of several additional targets known to exist on the property. To date, the exploration program has included extensive data compilation, the re-establishment of BP's grids, soil sampling, regional and detailed geologic mapping and 1,100 metres of diamond drilling in 9 holes.

At the Mandiocal target, which consists of an 800 metre long, 100 metre wide, and up to 30 metre deep garimpeiro's pit, five holes were drilled to explore for: 1) extensions at depth of high grade mineralized shoots previously uncovered by garimpeiros, and 2) lower grade mineralization in saprolite. No high grade mineralization was encountered in any of the five holes but lower grade mineralization over significant widths was intercepted including 19.88 m @ 1.71 g/t Au. The sixth hole, drilled between the Seta and Mandiocal targets tested a shear zone which averaged 11.89 g/t Au over 8 metres at surface, but failed to intersect significant mineralization at depth. Results from holes 7 (Bananal Zone) 8 and 9 (Fofoquinha) are pending. Future drilling will investigate gold showings at various targets on the Mineiro property including Bananal, Janahu and Joaquim. The Company's objective will be to fully explore the potential of the target areas as well as begin work on multiple prospective areas of this property.

AMAPA RECONNAISSANCE

Work on the Amapa Reconnaissance is currently under way. Crystallex is in the process of confirming its applications for certain exploration permits.

KNOB HILL

To date, 18 holes totaling 2,175 metres have been completed at Knob Hill. The drill program is being implemented to test a number of geochemical and geophysical anomalies along a belt which is known to host significant gold- copper mineralization (Island Copper Mine) and has the potential to host replacement and stockwork-type gold deposits related to porphyry incisions. All holes drilled thus far have intersected promising mineralized intervals carrying both replacement and vein-hosted sulfide mineralization. Some of the holes drilled recently appear to have encountered porphyry-style copper mineralization as well as stockwork mineralization which may carry gold values.

Crystallex International Corporation is a gold mining and exploration company. 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

This news release includes certain "forward-looking statements" within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Crystallex, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" and elsewhere in documents filed from time to time with The Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities.

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