As a result of the May and June decisions, Mael's case can advance to a full and final hearing on the merits; the issue of ownership can now be decided by the Political-Administrative Chamber of the Supreme Court of Justice of Venezuela.

Commenting on the decision, Marc J. Oppenheimer, President & CEO of Crystallex, said, "This decision advances our strategy, initiated in August 1999, to confirm our ownership rights to Cristinas 4 & 6. This decision, together with the recent changes to Venezuela's mining law, are very encouraging for Crystallex, and if necessary, we will continue to pursue legal action to safeguard our rights to the Cristinas concessions."

Crystallex has had numerous inquiries in relation to the announcement of June 14, 2000 by Placer Dome (PDG on TSE and NYSE) that it would write off its $116 million investment in Cristinas. Commenting on that development, Mr. Oppenheimer said, "Given the fact that Mael has been the title holder of Cristinas 4 & 6 since 1986; that recent changes in Venezuela's mining law suggest the contract between Minca and CVG is of dubious legality; and that the Supreme Court of Venezuela has now explicitly confirmed our legal status to pursue our 1999 lawsuit, we believe that regardless of Placer Dome's publicly stated reason for the write-off, it has more to do with the issue of their contract issues with CVG than the underlying economics of the project. We look forward to a favourable resolution to this dispute, in the courts or otherwise. We believe that Las Cristinas can be developed on an economic basis and have discussed with the Venezuelan government a credible plan for development if the dispute is resolved in our favor."

Crystallex's phased development plan for Cristinas 4& 6 allows for a lower capital cost than Placer Dome's proposals. By dividing the project into three phases, financing required for each of the first two phases can potentially be repaid from project cash flows before the next phase begins. Due to expected cash flows, the third phase should not require outside financing. Gold production would increase in each phase, reaching approximately 500,000 ounces per year in phase three, with production continuing through 2024 and possibly beyond.

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.

On Behalf of the Board:

Marc J. Oppenheimer, President & CEO

Note:

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.