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

Significantly increased gold production at the company's Albino mine in Venezuela resulted in a doubling of gold sales revenue to $1,747,747 for the quarter ended June 30, compared with $844,049 in the year earlier period. Less the cost of gold sales, Crystallex reported operating revenue of $129,470 for the 1997 quarter ended June 30, compared with ($126,952) in 1996. Total revenue for the 1997 quarter declined to $178,732 from $340,871, largely reflecting the absence in the current year of foreign exchange gains, which had totaled $444,163 in the year earlier quarter.

For the six months ended June 30, 1997, Crystallex reported gold sales of $2,341,702, compared with $1,869,478 the year earlier. Cost of sales exceeded gold sales revenue in the 1997 six months, resulting in a negative total revenue figure of ($146,011). In the prior year, Crystallex reported total revenue for the six months of $748,438, including foreign exchange gain of $452,633.

Crystallex's net loss for the three months ended June 30, 1997 was ($1,270,254), compared with a loss of ($954,641) for the comparable period the year earlier. On a per share basis, the loss for the quarter was ($0.05), compared with ($0.07) in the prior year. For the six months ended June 30, 1997, Crystallex's net loss amounted to ($2,506,877), or ($0.10) a share, compared with ($1,450,255), ($0.10) a share, for the 1996 six months. For the six months ended June 30, 1997 average shares outstanding were 25,273,017. The comparable figure for the June 30, 1996 six months was 14,591,649.

Commenting on the results, Crystallex President and CEO Marc J. Oppenheimer said, "Modifications to the mill at our Albino property enabled us to greatly improve our gold production capability, as reflected in the increase in gold sales for the quarter and half. Those mill improvements contributed to steadily increasing production efficiency across the course of this year's six month reporting period, a trend which continues. The production-driven revenue results were particularly encouraging coming despite declines in the price of gold."

Subsequent to the end of the period, the Company's 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 six months are reported in the table.

On Behalf of the Board,

"Marc J, Oppenheimer"

Marc J, Oppenheimer, President & CEO