Shareholders hear details of the Company's numerous projects

Shareholders elected Robert A. Fung, Marc J. Oppenheimer, Dr. Enrique Tejera Paris, Daniel R. Ross, Mitchell Klein, Harry J. Near, Armando F. Zullo and Gordon M. Thompson to the Board of Directors, and re-appointed Davidson & Company as auditors of the Company.

Shareholders also voted in favor of all the proposed motions outlined in the Company's notice of Annual Meeting proxy circular, including the approval of a proposed US$100 million equity line of credit.

Chairman of the Board, Robert A. Fung welcomed shareholders and introduced Crystallex's President and Chief Executive Officer, Marc J. Oppenheimer.

Mr. Oppenheimer told shareholders that the very good financial results of 1999 were particularly gratifying because they were achieved during one of the worst gold markets in recent history. Mr. Oppenheimer said that the Company also did very well operationally. A revised work schedule at the mine and several improvements in the mill at its San Gregorio operation increased worker productivity 70% and reduced the cash costs of gold production by 21%. He said that the improvements in the mill circuit made in 1999 and those begun in 2000 have also made the processing of lower grade material economically practical. Mr. Oppenheimer commented that the efficiencies and productivity improvements made at San Gregorio were the result of skills and techniques gained from years of industry experience by the Company's mining and exploration team.

Referring to Crystallex's proposed acquisition of Bolivar Goldfields' Venezuelan assets, Mr. Oppenheimer said, "Once the acquisition of the Tomi mine and Revemin mill is complete, we plan to use many of the same techniques that have been successful at San Gregorio to make that operation more efficient and lower the cost of production." Mr. Oppenheimer said that the acquisition is an excellent example of the Company's strategy at work and when complete, it will nearly double the Company's annual gold production.

In addition to discussing projects at the Albino 1, Santa Elena and Carabobo concessions in Venezuela, Mr. Oppenheimer told shareholders of progress made in regard to the Cristinas 4 & 6 concessions, one of the richest gold discoveries in South America.

"At issue," he said, "is whether mining rights to the concessions belong to Inversora Mael, which we acquired in 1997 or to a joint venture called Minca, created by Placer Dome and CVG, a Venezuelan Corporation." He characterized a 1999 change in Venezuelan mining law and a recent 61-page decision of the Venezuelan Supreme Court as reasons for optimism. "In their decision, the Supreme Court once again confirmed Mael's legal standing regarding the Cristinas 4 & 6 concessions, just as they had in rulings in 1991, 1996 and 1997," Mr. Oppenheimer said.

Mr. Oppenheimer then unveiled the Company's plan for developing the Cristinas 4 & 6 concessions, once the Company's ownership rights are confirmed. Detailed engineering drawings depicted the three phases of the plan, which has a total price tag of approximately $400 million. Mr. Oppenheimer told the audience that by dividing the project into three phases, financing required for each of the first two phases could be repaid from project cash flows before the next phase begins. Due to expected cash flows, Phase Three would 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.

Mr. Oppenheimer also discussed the application of the Company's excellent environmental practices in Venezuela and Uruguay. He pointed to the fact that protected species such as the Ñandú Ostrich and the giant Ombú tree thrive at Crystallex's San Gregorio operation in Uruguay. "We are very proud that San Gregorio received the 1998 OLAMI award for the best environmental practices for operating mines in Latin America," Mr. Oppenheimer said.

In closing, Mr. Oppenheimer said that although 2000 will be a very full year, the Company will continue to execute its strategy of seeking out other high potential projects for acquisition, and apply its successful mining techniques to make them more profitable.

"While we are doing these things," he said, "we will continue to honor our commitments to the people and the environment in the regions where we have operations. But above all, we will do our level best to develop Crystallex through well thought out steps and prudent actions designed to increase the value of the Company for our shareholders."

The year 2000 annual shareholder's meeting adjourned at 10:00 a.m. PDT

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 this release and does not accept responsibility for the adequacy or accuracy of this news release.