VANCOUVER - CRYSTALLEX INTERNATIONAL CORPORATION (AMEX: KRY; Toronto) today announced revenue and earnings for the three and nine month periods ended September 30, 1997.

Continuing a trend evidenced in the first half of 1997, ongoing increases in gold production at the Company's Albino mine in Venezuela resulted in gold sales revenue of $808,176 for the quarter ended September 30, more than double the $365,877 reported in the year earlier, despite lower gold prices in the third quarter. For the nine months ended September 30, 1997, Crystallex reported gold sales of $3,149,878, compared with $2,235,355 the year earlier. At September 30, the Company's cash and cash equivalents totaled $21,646,048, compared with $10,104,664 in 1996, with an additional approximately $28 million available on the Company's line of credit. (All figures expressed in Canadian dollars.)

Less the cost of gold sales, Crystallex reported negative operating revenue of ($981,537) for the 1997 third quarter, and ($1,127,548) for the first nine months of the current year. Increases in the cost of gold sales, which totaled $1,872,913 for the 1997 third quarter and $4,513,962 for the nine months, resulted primarily from increases in wages and contracting expenses for work done on opening new areas for mining at the Company's Albino property. Current year's results also reflected the absence of foreign exchange gains that were recorded in 1996 in the amounts of $185,255 in the three months ended September 30, 1996 and $637,888 in the first nine months of 1996.

Crystallex's net loss for the three months ended September 30, 1997 was ($3,284,579), compared with a loss of ($1,057,629) for the comparable period the year earlier. On a per share basis, the loss for the quarter was ($0.11), compared with ($0.07) in the prior year. For the nine months ended September 30, 1997, Crystallex's net loss amounted to ($5,791,456), or ($0.21) a share, compared with ($2,507,884), or ($0.17) a share, for the 1996 nine months. During the nine months ended September 30, 1997 average shares outstanding were 26,972,919. The comparable figure for the September 30, 1996 nine months was 15,029,979.

Commenting on the results, Crystallex President and CEO Marc J. Oppenheimer said, "Increased production activity at Albino is clearly driving Crystallex's performance, dramatically boosting our gold sales. In this early period, Albino is also exerting a disproportionate impact on our costs, as we make significant investment in the economic base of the Albino area through an increasing payroll and contracting costs. The importance to Crystallex's long term growth of the Albino investment, and indeed of all our broad range of activities in Venezuela, is reflected as well in the significant additions we have recently made to our Venezuelan management and board -- with the appointment of Crystallex de Venezuela President Oswaldo Ruiz, and with Venezuela's Ambassador to Spain Dr. Enrique Tejera-Paris joining the Crystallex board of directors."

In other developments, the Company's full legal action on the Cristinas 4 & 6 gold fields in Venezuela is now before the Political Administrative Chamber of Venezuela's Supreme Court. The Company acquired the rights to the Cristinas 4 & 6 concessions in March 1997.

Unaudited financial results for the three and nine months are reported in the following table.

On Behalf of the Board,

"Marc J, Oppenheimer"

Marc J, Oppenheimer, President & CEO

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