VANCOUVER - CRYSTALLEX INTERNATIONAL CORPORATION (AMEX: KRY; Toronto) today announced that the company's entire application concerning its title to the Cristinas 4 & 6 concessions is now before the full Political Administrative Chamber of Venezuela's Supreme Court. This result follows from yesterday's decision of Admission Court Judge Acuna formally receiving the appeal filed by Crystallex's Venezuelan unit, Inversora Mael, C.A. (Mael), of certain aspects of her July 15 decision which denied on technical grounds certain relief claimed by Mael.
Judge Acuna's initial decision was procedural and did not have any adverse legal impact on Mael's title to the Cristinas 4 & 6 Concessions. While that decision was procedural, Judge Acuna was nonetheless careful in yesterday's decision to expressly suspend any legal effect of the appealed part of her initial ruling. Judge Acuna's decision should dispel misconceptions caused by earlier reports incorrectly suggesting that Crystallex's property rights in the Cristinas concessions had been adversely affected by her initial ruling.
Crystallex's full action on Cristinas 4 & 6 combining the eight motions previously admitted by Judge Acuna and the three covered by the appeal will now be heard by the Political Administrative Chamber of the Supreme Court, the same court that on April 15 ordered the publication of Mael's title to the concessions in Venezuela's Official Gazette.
Separately, the Registry Office of the Roscio Antonomous Municipality of the State of Bolivar declined in an official decision (No. 6835-68) to register titles over the 4 & 6 Concessions in the name of Corporation Venezolana de Guyana (CVG). The Registry Office was not prepared to entertain CVG's registration applications pending the outcome of the Supreme Court case.
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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