TORONTO, ONTARIO – Crystallex International Corporation (TSX, AMEX: KRY) announced today that it has received signed subscriptions for 2.2 million special warrants at a price of C$2.15 per special warrant which will raise gross proceeds of C$4.73 million. Each special warrant shall entitle the holder thereof, upon exercise and without payment of any additional consideration, to acquire one common share of Crystallex.

Crystallex has appointed a syndicate of investment dealers led by TD Securities to act as agents for the offering. The closing of the offering is expected on or about November 27, 2002 and is subject to obtaining the applicable exchange approvals. Proceeds from the offering will be used by Crystallex to finance the continued development of its gold properties in Venezuela.

About Crystallex:
Crystallex International Corporation is a Canadian based gold producer with operations and exploration properties in Venezuela and Uruguay. Crystallex shares are traded on the TSX and AMEX Exchanges and Crystallex is part of the S&P/TSX Composite Index, the most widely followed benchmark index in Canada. Crystallex has been focused on strategic growth in South America and recently signed a definitive agreement with respect to the Las Cristinas mining properties in Venezuela and has taken possession of those properties. Crystallex is currently reviewing drill data and studies previously completed in preparation for the completion of a feasibility study to support its development plans for the properties.

For Further Information:
Investor Relations Contact: A. Richard Marshall, VP at (800) 738-1577
To receive previous Company releases:  (800) 758-5804 ext. 114620
Visit us on the Internet:  http://www.crystallex.com
 
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 new release.