Crystallex's gold sales revenue advanced significantly for the quarter due to continued increases in gold production at the company's Albino mine in Venezuela. For the quarter ended December 31, gold sales revenue was C$1,352,871 compared with C$142,906 in the previous year's fourth quarter. Less the cost of gold sales and general expenses, the net loss in the final quarter of 1997 stood at C$3,734,208, C$0.13 per share, compared with C$2,172,968 or C$0.13 per share in the comparable 1996 quarter.

For the full year 1997, Crystallex reported gold sales of C$4,502,749 compared with C$2,378,261 in 1996, representing an increase of 89.3 percent. Cost of sales, at C$7,142,263, exceeded gold sales revenue during the year. Increased general expense, largely reflecting additions of professional and managerial capabilities associated with the company's growth, and the reversal of the prior positive contribution of other items, notably foreign currency translations, resulted in an increased net loss of C$9,525,664 or C$.34 per share for the year. In 1996, Crystallex reported a net loss of C$4,680,852, or C$.30 per share.

Crystallex President and CEO Marc J. Oppenheimer, commenting on the year's performance, said, "1997 was a year of significant growth and building for Crystallex -- as our nearly doubled revenue numbers attest. Production improvements at our Albino mine, and increased efficiencies at the Albino mill, contributed strongly to that top line growth. Those factors will continue to favorably impact company-wide performance, as we proceed with our exploration program at Albino and pursuit of deep-rock mining rights there.

"Importantly, Crystallex made other major advances throughout the year in its ongoing program to build shareholder value for the future. Among our accomplishments:

"The results of our varied growth initiatives in 1997 produced a 50 percent-plus increase in Crystallex's total assets to C$66 million, and leave us well positioned for continued growth with a strong cash position, zero debt and available credit facilities. Our shareholders in turn were rewarded with a 25 percent increase in shareholders equity to $51 million," Mr. Oppenheimer concluded.

Financial results for the full year are reported in the table below.

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.

This news release may contain 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.

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