On May 3rd and on June 14, bodies of the Supreme Court of Venezuela handed down decisions that confirm the standing of Inversora Mael, Crystallex's Venezuelan unit, to pursue its legal rights to the Cristinas 4 and 6 concessions. These two decisions further reinforce three previous rulings made by the Supreme Court in 1991, 1996 and 1997. The May and June decisions enable Mael to bring its case to a full and final hearing on the merits that can be decided by the Political-Administrative Chamber of the Supreme Court of Justice of Venezuela.

In addition, in September 1999, the Congress of the Republic of Venezuela enacted a new mining law, which provides that mining activities may be undertaken only through concessions issued by the Ministry of Energy and Mines. Contracts such as that recently extended by the CVG to Minca are not contemplated by the law. In the preamble to the new mining law, Congress stated that the mining contracts issued by the CVG were of dubious legality.

Crystallex's President and Chief Executive Officer, Marc J. Oppenheimer characterized the contract extension as only an agreement between two contractual partners. "This has nothing to do with the position of the Venezuelan Government in the matter. The agreement arrived at was reached during a shareholders meeting and only addresses issues between those shareholders. The mining contract, which is subject to the authority of the Ministry of Energy and Mines (MEM), has not been extended or approved by the MEM," Mr. Oppenheimer said. "Our claim to these concessions comes from concession rights granted to Inversora Mael in 1986, and not from an agreement between two partners, which now appears to have little or no legal relevance to the issue of ownership of the concessions."

Mr. Oppenheimer continued, "Crystallex enjoys a very good relationship with the Venezuelan Government and has presented its leaders with our plan for development of the concessions. We have shown that our three phase plan is economically viable under current market conditions and will be beneficial to the country and its people. We are looking forward to getting started on the project as soon as our rights to the Cristinas 4 and 6 concessions are confirmed."

Crystallex’s 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 anticipated cash flows, the third phase may 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.

Not including the Cristinas concessions, Crystallex anticipates that gold production from its other concessions in Venezuela and Uruguay will reach 100,000 ounces in 2000 and grow to 185,000 ounces by 2003 at a total cost in the low $200 per ounce range.

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.