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Crystallex Responds to Placer Dome "Ribbon Cutting"

8/4/1997


VANCOUVER - CRYSTALLEX INTERNATIONAL CORPORATION (AMEX: KRY; Toronto) responded to inquiries it has received regarding the announcement by Placer Dome and its local partner of a "ribbon cutting" at the Las Cristinas 4 & 6 goldfields in Venezuela by making the following observation:

"Holding a 'ribbon cutting' at a site Placer Dome and its partner clearly do not own cannot distract from the recent advances Crystallex has secured before the Venezuelan courts and property registration system. Scheduling this media relations event in the same week that the Registry Office in Bolivar State rejected attempts by Placer's partner CVG to register claims to the Cristinas 4 & 6 title reflects a disregard for the legal process. As the Registry Office decision rejecting the CVG move specifically noted the fact that this matter is before the Supreme Court of Justice, this latest Placer/CVG act suggests a disrespect for the Court itself.

For the record, our subsidiary Inversora Mael is the only party with title to Cristinas 4 & 6, as officially registered on title records, as published in the Country's Official Gazette, and as confirmed by the Supreme Court in three separate decisions. Our current action to remove obstacles to the enforcement of our rights of ownership is now ready to be considered by the Political Administrative Chamber of the Court."

Crystallex International Corporation is a gold mining and exploration company. The Company's strategy for growth is to develop a 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

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

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