TORONTO - Crystallex International Corporation (KRY: TSX, Amex) announced today that it has agreed to sell to Uruguay Mineral Exploration Inc. ('UME') all of the shares of all companies holding Crystallex's ownership interests in the San Gregorio mining operations in Uruguay.

"Since our acquisition of the Uruguay properties in 1998 they have been the Company's primary gold producer and most consistent cash flow generator," said Todd Bruce, President and CEO of Crystallex. "However with our energy and resources focused now on our properties in Venezuela, and in particular the development of Las Cristinas, San Gregorio is no longer strategic to the growth of Crystallex."

Under the terms of the agreement, UME will pay Crystallex US$2,000,000 payable in two equal installments. The first payment of US$1,000,000 will be due 6 months after the closing date of the transaction and the second US$1,000,000 payment will be due 12 months after the closing date. Closing of the transaction is expected on or before October 22, 2003.

As well, UME will be required to fund Minera San Gregorio, the principal operating company, to retire in full its forward contracts (hedge positions) to Standard Bank, London Ltd ("Standard"), an obligation previously guaranteed by Crystallex.  Crystallex will receive a full and final release from Standard in respect of all Uruguayan obligations.

UME will assume in full, all of the rights and obligations of the purchased companies as of October 1, 2003, the effective date of closing.

About Crystallex
Crystallex International Corporation is a Canadian based gold producer with significant operations and exploration properties in Venezuela. Crystallex shares trade on the TSX and AMEX Exchanges. The Company's principal asset is the Las Cristinas property in Bolivar State which is currently under development. Other producing assets include the Tomi Mine and La Victoria.

For Further Information:
Investor Relations Contact: A. Richard Marshall, VP at (800) 738-1577
Visit us on the Internet:  http://www.crystallex.com
Email us at: mail@crystallex.com

NOTE: This may include 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 presentation, 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, including but not limited to its annual information form  ("AIF") and its annual report on Form 20-F, filed from time to time with the Canadian provincial securities regulators, the United States Securities and Exchange Commission ("SEC"), 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.