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Crystallex Addresses Recent Market Activity

7/16/2001


VANCOUVER - CRYSTALLEX INTERNATIONAL CORPORATION (symbol KRY on the TSE and AMEX) issued the following statement to shareholders regarding the recent market activity of its shares.

Crystallex's Venezuelan unit, Inversora Mael, remains the registered title holder over Cristinas 4 & 6 concessions. Crystallex has pending actions before the Venezuelan Supreme Court in an effort to ultimately clarify the issue regarding possession. Additionally, the Company has recently reported that it is in fruitful discussions with the Venezuelan Government with the purpose of expeditiously resolving these matters for the benefit of the people of Bolivar State, the Republic of Venezuela, and Crystallex stakeholders. Most importantly, Fransisco Rangel, the President of CVG, has publicly stated that the Agreement with Placer Dome, which was due to expire at midnight last night, would not be renewed and the project would be moving ahead, but it would be without Placer Dome. Crystallex believes that the statements by the President of CVG speak for themselves.

Recent announcements by Placer Dome and Vanessa Ventures will have no impact on the Crystallex core strategy for the recognition of its concession rights to Cristinas 4 & 6.

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.Contact: A Richard Marshall, VP at (201) 541-6650 ext. 26 or Andrea Boltz at (604) 683-0672.
To receive previous Company releases: (800) 758-5804 ext.114620

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