Gold production up nearly 60% over 1999 third quarter

VANCOUVER, BC - CRYSTALLEX INTERNATIONAL CORPORATION (KRY on T.S.E. and Amex) today reported that for the third quarter ending September 30, 2000 operating revenue increased 74% to C$14,511,703 compared to operating revenue of C$8,322,994 for the third quarter of 1999. Net income for the quarter was C$1,069,800 or C$0.02 per share (fully diluted). This compares with third quarter 1999 net income of C$1,379,060 or C$0.02 per share (fully diluted).

The higher revenue in the third quarter 2000 reflects the additional production associated with the acquisition of the Venezuelan assets of Bolivar Goldfields. The comparable period in 1999 reflected production solely at one site, Minera San Gregorio. Several factors contributed to the decline in third quarter net income. They include increased operating expenses at San Gregorio due to the increased depth of the pit, the doubling of amortization and depletion expense as a result of the acquisition of the Revemin mill and Tomi mine, and foreign currency translation losses.

Total assets during the third quarter of 2000, rose to approximately C$166 million as compared to approximately C$110 million during the corresponding period in 1999. Shareholder equity was C$107 million as compared to C$76 million in the comparable period during the previous year.

"We are very pleased with our corporate progress," commented Marc J. Oppenheimer, President and Chief Executive Officer. "We are reporting solid revenue growth and, significantly, Crystallex has been profitable for seven consecutive quarters while maintaining a strong balance sheet."

For the first nine months ended September 30, 2000 operating revenue was C$31,366,024, compared to C$27,171,978 in the year-earlier period. Net income for the first nine months of 2000 was C$2,906,595 or C$0.05 per share (fully diluted), compared to C$4,915,332 or C$0.08 per share (fully diluted) for the first nine months of 1999.

Acquisitions
During the third quarter, the Company completed its acquisition of the Venezuelan assets of Bolivar Goldfields and began immediately implementing its plans to improve productivity and decrease costs at the newly acquired Tomi mine and Revemin mill.

During the same quarter Crystallex entered into agreements to purchase control of the Lo Increible Project in Venezuela through a tender offer for all the shares of the El Callao Mining Corporation (ECM) and the acquisition of approximately US$14.3 million of debt originally owed by ECM to Bema, and which will now be owed to Crystallex. Lo Increible, is a gold property currently at the feasibility stage. It is located adjacent to the Crystallex's Revemin mill, and reportedly hosts a geological resource of more than 2.6 million ounces of gold and a mineable reserve of 1.2 million ounces. The tender offer to all the shareholders of ECM will be in the form of a share exchange offer in which one Crystallex share will be exchanged for every 15 ECM shares. If all shares are tendered, Crystallex will acquire the Lo Increible Project for a maximum consideration of US$12 million.

Operations
Total gold production for the 2000 third quarter increased nearly 60% to 28,783 ounces, from 17,998 in the 1999 third quarter coming from a contribution of 10,653 ounces from the acquisition of the Bolivar Goldfields assets. Overall cash costs remained slightly below $200 per ounce. During the quarter the Company realized an average of US $297 per ounce as compared to the average spot price of US $276 for the same period.

San Gregorio
At the San Gregorio mine in Uruguay, production rose to 18,130 ounces from 17,998 in the comparable quarter of 1999. The mill at San Gregorio was shut down for six days during the quarter in order to install a more powerful motor and new drive system. The improvements were made on schedule and are aimed at increasing mill throughput from 3,100 tonnes per day to 3,500 tonnes per day.

Tomi / Revemin
At the Tomi Mine in Venezuela, gold production was 12,919 ounces for the third quarter 2000; 10,653 ounces of that production taking place after Crystallex took over the operation on July 23, 2000. On that date, the Company commenced its productivity improvement plan, which included a restructuring of the work schedule, effectively eliminating overtime and Sunday work at the Tomi Mine. In addition, blasting patterns were adjusted to increase yield and minimize work disruptions due to blasting. Mining roads were improved and mill improvements were made to enhance the long term economics of processing material. An Engineering consultant has also been retained to assist in plans for the expansion of the Revemin mill. That expansion will provide the additional capacity to process material from the Lo Increible Project as it comes on line.

Albino
At the Albino 1 deposit at Kilometre 88, dewatering of the open pit has commenced in preparation for the development of the underground ramp. The engineering work to finalize the underground mining plans are now being completed.

Las Cristinas 4 & 6
On November 1, 2000, Crystallex executives presented to the Mining Commission of the Venezuelan National Assembly the Company's overall plan for development of its mining assets in Venezuela. The presentation covering all of Crystallex's Venezuelan operations included the three-phase plan for developing the Las Cristinas 4 & 6 concessions.

CEO's Comments
"We're very pleased with the level of success that we have had on every front during the third quarter and for the first nine months of this year," said Oppenheimer. "We have been able to deliver shareholder value in a very challenging commodity environment. What is most significant is that we have done this while completing two major strategic acquisitions, making productivity improvements to our operations in both Uruguay and Venezuela, preparing Albino 1 for underground mining and developing a $400 million plan for Cristinas 4&6. We have gained a great deal of momentum this year and plan to maintain it through the remainder of this year and into next year."

About the Company
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.

Financial results for the three and nine months periods are reported in the attached table.

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.

CONSOLIDATED BALANCE SHEETS
(Expressed in Canadian dollars)
(Unaudited - Prepared by Management)

CONSOLIDATED STATEMENT OF OPERATIONS
(Expressed in Canadian dollars)
(Unaudited - Prepared by Management)