TORONTO - Crystallex International Corporation (TSX, AMEX: KRY) today reported its third quarter 2003 results.

Highlights

• Completed a positive Feasibility Study for Las Cristinas on schedule during September. 
• Successfully completed private placements for aggregate proceeds of US$38.2 million.
• Appointed Todd Bruce as President and Chief Executive Officer of Crystallex. 
• Gold production of 18,000 ounces for the third quarter at a total cash cost of US$346 per ounce.  Nine months production of 62,000 ounces at a total cash cost of US$303 per ounce.
• Net loss for the quarter of C$33.8 million.
• Net operating loss for the quarter of C$12.2 million before non-cash derivative losses arising from quarterly "mark to market" adjustments of derivative instruments and non-cash write-down arising from the sale of the San Gregorio mining interests.
• Cash at quarter end of C$46.3 million.
• An Updated Environmental Impact Study (EIS) for Las Cristinas is scheduled for submission by late November.

On October 27, Crystallex announced the closing of the sale of the San Gregorio mining interests and related operations in Uruguay. The transaction recognized the limited operating life of the Uruguayan assets and relieves Crystallex from a number of significant expenses related to the planned closure of the Uruguayan facilities including environmental, remediation, severance and relocation costs. Additionally, the sale reduced the Company's forward hedge book exposure by approximately 37,600 ounces.

Crystallex has finalized plans to consolidate its North American management and administrative operations at its new office in Toronto effective December 31, 2003.
 During the quarter Crystallex achieved several milestones. Todd Bruce's appointment as President, Chief Executive Officer and Director of the Company and Marc Oppenheimer's accession to the position of Vice Chairman represent significant advancements of the management restructuring initiative that the Board commenced almost two and a half years ago. 

Todd Bruce noted that, "As the new CEO, I must say that the Company's performance in assembling an executive team of such quality is not only remarkable in its own right, but it directly compliments the incredible job done by Marc and his colleagues in securing the rights to the Las Cristinas deposit."  Mr. Bruce further continued, "The privilege of leading such a management team is rare enough, however the opportunity to apply this quality resource to extracting the value from an asset as extraordinary as Las Cristinas is a unique one that I could not decline."

During the quarter, the Company reached a major milestone with the release of its SNC-Lavalin full feasibility study on a 20,000 tonne per day ("tpd") operation at Las Cristinas.  The addition of the 10.2 million ounces of proven and probable Las Cristinas reserves (calculated at a gold price of US$325 per ounce) defined by the feasibility study has transformed Crystallex into the fifth largest North American based gold mining company in terms of reserves.  More details on the feasibility study results are included in the MD&A section below and the executive summary of the feasibility study is available on the Company's website at www.crystallex.com.

In addition, SNC-Lavalin completed a scoping study during the quarter on a 40,000 tpd operation at Las Cristinas.  The scoping study indicates that doubling the size of the operation significantly enhances the already robust economics of the base case 20,000 tpd operation which was selected by Crystallex as an appropriate initial production level in terms of the Company's expected financing capacity.  At 40,000 tpd, the scoping study estimates that the mine would produce an average of 500,000 ounces of gold per annum at a total average cash cost of US$181 per ounce with an initial capital expenditure of US$370 million pre-VAT.  At a gold price of US$325 per ounce, a 40,000 tpd operation is forecast to generate free cash flow of US$710 million and a pre-tax IRR of 17%. 

Based on these results, the Company has commenced a full 40,000 tpd feasibility study which is expected to be substantially completed by the end of this year.  The Company's current plan is to establish a 20,000 tpd operation and then expand it to 40,000 tpd within the first five years of operation, just as soon as cumulative cash flow and financing capacity will allow.  The 40,000 tpd feasibility will provide Crystallex with the flexibility to establish Las Cristinas at the 40,000 tonne per day level should market circumstances permit Crystallex to finance this scale of operation.

The Company continues to work closely with the Corporacion Venezolana de Guayana ("CVG") to advance the Las Cristinas 20,000 tpd program on schedule.  The update of the previously issued Environmental Impact Statement ("EIS") will be submitted by the end of November, 2003 which should see all the necessary mining and environmental permits issued by midyear 2004.  The Company has invited four major engineering companies to tender for the engineering, procurement, and construction management ("EPCM") role in building Las Cristinas.  Crystallex expects to award the EPCM contract by the end of this year with detailed engineering to start in early January.  In terms of the above schedule, construction at Las Cristinas is expected to start during the summer of 2004 and the first gold should be produced in the first quarter of 2006.

The Company's operating team under the leadership of Chief Operating Officer, Dr. Ken Thomas, and VP Operations, Dr. Sadek El-Alfy, have made commendable progress during the quarter in restoring the Venezuelan operations, as the negative effects of strict capital rationing that they have been subject to over the last two years are addressed.  As an example, Venezuelan gold production, which averaged 1,400 ounces per month in the first quarter, increased to an average of 3,400 ounces per month in the third quarter.  Although the Venezuelan operations are not yet performing at anticipated levels, their production risk profile decreases each month as the recapitalization process proceeds.

The Company is planning to consolidate its North American management and administration at its new Toronto office at Suite 1210, 18 King Street East M5C 1C4 in mid December. The Company's telephone number (416-203-2448) and fax number (416-203-0099) will remain the same.

Management's Discussion and Analysis
For the Nine Month Period Ended September 30, 2003
(in Canadian dollars, except where noted)

Management's Discussion and Analysis ("MD&A") of the financial condition and results of the operations of Crystallex International Corporation ("Crystallex" or the "Company") should be read in conjunction with the unaudited consolidated financial statements and the notes thereto.  The Company prepares and files its consolidated financial statements and MD&A in Canadian dollars.

Crystallex and its subsidiaries are engaged in gold mining and related activities, including exploration, extraction, processing and reclamation.  Crystallex produces gold in Venezuela.

KEY STATISTICS tables attached

SUMMARY FINANCIAL RESULTS
For the third quarter 2003, Crystallex incurred a loss of $12.2 million prior to adjustments for non-hedge derivative gains/losses and the San Gregorio write-down, as compared with a loss of $5.9 million in the third quarter of 2002.  A non-cash adjustment for non-hedge derivative losses of $19.6 million, (and a loss of $16.5 million in 2002) resulted in a net loss of $33.8 million, or $0.29 per share for the third quarter, as compared with a net loss of $7.6 million, or $0.09 per share, for the same period in 2002.

Revenue for the third quarter totalled $5.5 million on gold sales of 14,309 ounces, as compared with $9.3 million of revenue on gold sales of 25,238 ounces for the year earlier quarter.  The decrease in sales revenue was attributable to fewer ounces sold and a stronger Canadian dollar.  Fewer ounces were produced and sold due in part to a mechanical failure at the San Gregorio mill.  The average realized gold price during the quarter was US$300 per ounce.  The Company's average realized price per ounce was below the average quarterly spot price of US$363 per ounce as a result of delivering gold production into forward sales positions with exercise prices of approximately US$300 per ounce, thereby reducing the Company's hedge book exposure.

During the first nine months of 2003, revenues totalled $28.6 million, as compared to $33.4 million for the corresponding period in 2002.  Gold sales amounted to 56,420 ounces as compared with 69,510 ounces for the same period in 2002. 

For the third quarter, there was an operating cashflow deficit, as expenses from operations exceeded realized revenue from gold sales (considering the impact of delivering into forward sales positions).  The total operating cashflow deficit, after including corporate general and administrative expenses and working capital changes, totalled $5.0 million during the third quarter.  For the nine month period, the cash flow deficit was $10.7 million, as compared with a $7.5 million cash flow deficit during the comparable period in 2002.  The increase in the cash flow deficit was due largely to lower gold sales and higher general and administrative costs. 

LAS CRISTINAS

Feasibility Study
As reported in detail on September 10, 2003, a full Feasibility Study for the Las Cristinas project was completed during September by SNC - Lavalin Engineers and Constructors, (SNCL).  The results of the Feasibility Study clearly distinguish Las Cristinas as a world class gold deposit that can be economically developed and operated by conventional mining and gold processing technology. 

Feasibility Study Operating Highlights

• Measured and Indicated Resources1 (0.5g/t cut-off) 439 million tonnes grading 1.09 g/t,  15.3 million ounces of contained gold.
• Mineable Reserves1,2 (Proven and Probable) 246 million tonnes grading 1.29 g/t;10.2 million ounces of contained gold
• Gold Price US$325/oz.
• Metallurgical Recovery 89%
• Daily Mill Throughput 20,000 tonnes
• Annual Mill Throughput 7,300,000 tonnes
• Overall Strip Ratio 1.34
• Mine Life 34 years
• Average Annual Gold Production - First Five Years 311,000 ounces
• Average Annual Gold Production - Life of Mine 266,000 ounces
• Development Capital US$243 million
• VAT on Development Capital3 US$  39 million
• Operating Costs Per Tonne of Ore US$6.70
• Total Cash Costs Per Ounce4 - First Five Years US$144
• Total Cash Costs Per Ounce4 - Life of Mine US$196

1 Mineral reserve and mineral resource estimates in the Feasibility Study were estimated in accordance with the standards of the Canadian Institute of Mining and Metallurgy as adopted by the Canadian Securities Regulators in National Instrument 43-101.  Unlike proven and probable mineral reserves, mineral resources do not have demonstrated economic viability.
2 Mineral reserves, which were calculated using a gold price of US$325/oz., are included in the mineral resources.
3 VAT is charged on goods and services during the construction period; however, is fully recoverable from gold sales revenues within about three years.
4 Includes royalties.

Las Cristinas Economic Highlights
The Feasibility Study financial results, calculated at a gold price of US$325 per ounce, demonstrate that Las Cristinas can be economically developed as a large, open pit mining operation utilizing a conventional gravity and carbon-in-leach (CIL) gold processing circuit. 

Based upon current proven and probable reserves of 10.2 million ounces and a gold price of US$325 per ounce, Las Cristinas will generate pre-tax cumulative free cashflow of US$742 million.  At US$375 per ounce, pre-tax cumulative cashflow climbs to US$1.2 billion. 

The table below presents Las Cristinas financial returns on an all-equity, before tax basis using a gold price of US$325 per ounce and also at gold prices more reflective of current market conditions. (see table attached)

Next Steps
Work is ongoing in a number of areas to advance the development of Las Cristinas.  The Company is on schedule to complete an Updated Environmental Impact Study (EIS) by late November, 2003 for presentation to the Corporacion Venezolana de Guayana, (CVG).  Following review by the CVG, the EIS will be presented to the Venezuelan Ministry of Environment and Natural Resources (MARN).  The submission to the MARN will initiate the process for securing the updated Land Use Permit and the Permit to Impact Natural Resources.  At present, it is estimated that the Permit to Impact Natural Resources could be awarded by the end of the second quarter next year, which would allow construction to commence. 

Invitation letters and Requests for Proposals have been extended to engineering firms to submit bids for supplying Engineering, Procurement and Construction Management, (EPCM) services for the engineering, construction and development of Las Cristinas. Tenders are due by early December and Crystallex intends to award the EPCM contract during January, 2004. 

Crystallex is also nearing completion of the improvements contemplated by the local social programs as outlined in the Mining Operation Contract with the CVG and will begin formal transfer of ownership in early December.  These projects include providing new water treatment facilities, sewerage systems, thirty new houses and road improvements.  The Company is also providing medicines on a monthly basis to a local medical clinic, as well as undertaking an expansion and regular maintenance of the clinic. 

OPERATIONS REVIEW see table attached

San Gregorio
Gold production from the San Gregorio mine in Uruguay was 8,849 ounces during the third quarter, as compared with 15,840 ounces for the comparable period in 2002.  Gold production was well below budget in the third quarter as a result of the failure of the ball mill gear reducer shaft, which was reported in the second quarter Management Discussion and Analysis.  As a consequence of the shaft failure, the mill was shut down from early July until mid-August, after which mill operations returned to a normal level. 

Total cash operating costs averaged US$370 per ounce for the third quarter, an increase from US$226 per ounce in the comparable quarter of 2002, largely attributable to the shaft failure.

As reported on October 27, 2003, Crystallex sold its Uruguayan interests, including the San Gregorio mining operations to Uruguayan Mineral Explorations Inc, (UME).  Under the terms of the agreement, UME will pay Crystallex US$2 million in two equal installments, with the first installment due six months after closing and the second installment due twelve months after closing.   Crystallex will also receive a transfer of certain exploration drilling equipment. In addition, UME paid approximately US$2.8 million to fund the closing out of all remaining San Gregorio gold forward sales commitments, (approximately 37,600 ounces), and through the Uruguayan companies purchased, assumed certain environmental, remediation, severance and closure costs which would have been incurred by Crystallex had it proceeded with the planned closure of its Uruguayan mining operations. The sale was completed through the transfer of the shares of the Company's Uruguayan subsidiary companies which owned the mining assets. The Company recorded a $2.0 million write-down of its Uruguayan investment in the third quarter.

Venezuela Overview (see table attached)
Gold production from the Revemin Mill was 20,007 ounces for the first nine months of 2003, and 9,120 ounces for the third quarter.  Third quarter 2003 production was 27% higher than the prior period.  The increase is largely attributed to processing a significantly higher proportion of ore from the Tomi concession which yields higher recoveries than the refractory ore from La Victoria.  Gold recoveries averaged 82% for the quarter as compared with only 73% for the comparable period in 2002.  Gold recovery was over 87% in September when no ore from La Victoria was processed. 

There has been a steady increase in the tonnes of ore processed and gold recovered at Revemin since the beginning of the year.  Ore processed was 67,000 tonnes in the first quarter, 74,000 tonnes in the second quarter and 108,000 tonnes in the third quarter.  The mill operated at 87% of its 1,350 tonne per day capacity during the third quarter, up from about 55% in the first quarter.   The improved tonnage reflects capital recently invested in mine equipment and maintenance.  Production of gold has increased from 4,325 ounces in the first quarter to 9,120 ounces in the third quarter.  The increase in gold production is due to both higher tonnes of ore milled and higher gold recoveries.

La Victoria
During the period, metallurgical testwork results on the La Victoria sulphide ore deposit have demonstrated that the content of refractory ore was higher than originally estimated, and as a consequence this sulphide ore will be difficult to process using the conventional cyanide gold extraction process at the Revemin mill.  The gold in the La Victoria ore is encapsulated in sulphide minerals which prevent sufficient quantities of gold from being leached by the cyanide.  As a consequence, gold recovery rates are low, averaging only 54% during the third quarter.  Further testwork indicated that the ore at La Victoria may be amenable to Bio-Oxidation, a pre-treatment step that breaks down the sulphide minerals through accelerating the oxidation process, thereby exposing the gold for subsequent removal by cyanide leaching. 

The Company is currently in the process of evaluating the technical and economic viability of constructing and operating a Bio-Oxidation plant at the Revemin mill, which based on preliminary testwork is a more suitable process for this type of ore.  The evaluation requires a drilling program to be conducted to reassess the size and grade of the La Victoria ore deposit and pilot plant testing of the Bio-Oxidation process.  It is planned that drilling and pilot plant testing will be conducted during the first quarter of 2004 to fully evaluate the property's viability.

While these programs are underway, ore feed for the Revemin mill will come from the open pits and underground mine on the Tomi concession. 

Tomi
Ore from the Tomi open pits accounted for 76% of the ore feed to the Revemin mill during the third quarter of 2003.  The Tomi ore is higher grade and does not have the refractory characteristics of the La Victoria ore and,as a result, gold recovery is higher.  Gold recovery from the Tomi pits averaged 84% for the first nine months of the year, as compared with 68% recovery for La Victoria.  It is planned that the Tomi pits will supply the majority of the ore feed to Revemin for the balance of 2003 and for 2004.  Drilling is currently ongoing at the Milagrito open pit mine on the Tomi concession.

Production at the Tomi underground mine is gradually increasing as recent capital funding provided for new equipment required for development and production.  It is expected that the mine will reach design levels of about 200 tonnes of ore per day by the end of the first quarter 2004.  A change in mining method will result in greater ore dilution and the Company is currently forecasting an average mined grade of about 11.0 grams per tonne.  

At the Venezuelan operations, total cash operating costs averaged US$322 per ounce for the third quarter of 2003, as compared with US$309 per ounce for the similar period in 2002.  Although quarterly average costs were higher for the third quarter 2003, both production and operating costs improved throughout the third quarter.  Gold production exceeded 3,400 ounces in both August and September, as compared with a monthly average of 1,400 ounces during the first quarter and 2,200 ounces per month during the second quarter.  Also, September unit costs were reduced to $302 per ounce.  However, cashflow from operations is being negatively impacted by the currency exchange controls in Venezuela.  The Company is currently considering options to reduce the impact of the currency controls.

GOLD PRODUCTION STATISTICS (see 2003 Q3 tables attached)

GENERAL AND ADMINISTRATIVE
General and Administrative expenses totalled $7.2 million for the third quarter of 2003, as compared with $1.9 million for the comparable period in 2002.  The $5.3 million increase includes $1.8 million representing the contractual costs of additions in senior management personnel during the past year as the Company commenced preparations for the development, construction and operation of the Las Cristinas properties and substantially increased legal and audit costs. The increase further reflects annual contractual and discretionary bonus payments of $2.2 million for the 2003 fiscal year determined and accrued in the third quarter, and a payment of $1.3 million to certain management and operating personnel and directors specifically in recognition of their extraordinary commitment of time and effort on behalf of the Company, over several years, in successfully securing the Las Cristinas mining operation agreement, the latter payment having been approved by an independent compensation committee of the Board of Directors..

For the first nine months of 2003, general and administrative expenses were $12.5 million as compared with $5.3 million in 2002.  The increase is largely attributable to the aforementioned payments, and significantly higher legal and audit fees.

FORWARD SALES AND WRITTEN CALL OPTIONS
At September 30, 2003, Crystallex had outstanding 188,900 ounces of fixed forward contracts at an average price of US$303 per ounce, and 224,169 ounces under call options sold at an average price of US$303 per ounce. At September 30, 2003, Crystallex had the following forward contracts and call options outstanding: (see tables attached)

As previously noted, the Company's objective is both to restructure and reduce the size of its hedge book by negotiating with hedge counterparties to move certain commitments to future periods, by repurchasing positions at opportune times, and by delivering into forward sales contracts without replacing those contracts. 

Subsequent to the end of the third quarter, the Company purchased 25,000 ounces of gold at a spot price of US$372 per ounce and delivered an equal number of ounces of forward sales for settlement at US$298 per ounce for a net cost of US$1.84 million.  Also, as part of the sale of the Uruguayan assets, Uruguay Mineral Explorations funded the retirement of 37,640 ounces of forward sales contracts, which represented all remaining forward sales contracts for San Gregorio that were guaranteed by Crystallex.  As a result, the Company's total outstanding forward contracts and call options have been reduced to 350,429 ounces.

At September 30, 2003, the unrealized mark-to-market value of Crystallex's gold forward sales and call options, calculated at a spot price of US$388 per ounce was negative C$47 million.  This value represents the replacement value of the forward sale and call option contracts based upon the spot gold price at quarter end and does not represent an obligation for payment by Crystallex.  The Company's obligations under the forward sales contracts are to deliver an agreed upon quantity of gold at a predetermined price by the maturity date of the contract, while delivery obligations under the call options sold are contingent upon the price of gold and will take effect if the gold price is above the strike price of the relevant contract at its maturity date. 

ACCOUNTING FOR DERIVATIVE INSTRUMENTS

Written call options
As previously reported, upon re-examination of the accounting for the Company's written call options, management determined that call option contracts outstanding at the end of 1999, 2000 and 2001 had not been properly accounted for and, as a result, the Company had reflected premiums received in income on the date of receipt and had not reflected the amount of the related mark to market adjustments for changes in estimated fair values within the consolidated financial statements. Accordingly, management has reclassified premiums received, previously reported in revenue, as a liability (deferred credit) on the balance sheet and has recorded the mark to market adjustments to the recorded liabilities for options outstanding at the end of each year.  The change in fair value of the liability has been recorded as a non-hedge derivative (loss) gain.

Fixed forward contracts
As previously reported, the Company treated fixed forward contracts as transactions qualifying as hedges for accounting purposes and recorded the contracts off balance sheet until the settlement date at which time the contract settlement amount was recorded in mining revenue. Upon re-examination, it has been determined that certain restructuring transactions with the counterparty modified the fixed forward contracts prior to their maturity resulting in a reassessment of hedge designation and effectiveness. Consequently, the Company has redesignated its forward contracts as trading activity and accordingly has recorded the estimated fair values of these contracts on the balance sheets and related mark to market adjustments for changes in estimated fair values in the statements of operations as non-hedge derivative (loss) gain.

The variation in fair market value of options and forwards from period to period can cause significant volatility in earnings; however, the fair market value adjustment is a non-cash item that will not impact the Company's cashflow.  For the three month period ended September 30, 2003, the total mark to market loss on the non-hedge derivative positions was $19.6 million.  For nine months of 2003, the Company reported a non-hedge derivative loss of $13.0 million. 

In circumstances where the Company is unable to meet the obligations under the fixed forward sales or call options, the Company will defer the expiry date of the forward sale or call option, or purchase gold in the market, or settle the positions financially.  If the Company were to purchase gold in the market or settle the positions financially, it would result in a reduction of the Company's cashflow. 

LIQUIDITY AND CAPITAL RESOURCES
Operating Cashflow (after working capital changes and before capital expenditures) was a utilization of $5.0 million for the three months ended September 30, 2003 as compared with operating cashflow of $1.2 million for the comparable period in 2002.  At September 30, 2003, cash and cash equivalents were $46.3 million.  At quarter end, there was a working capital surplus of $15.0 million.  

FINANCING ACTIVITIES
During the third quarter of 2003, the following financing transactions were completed:

On August 29, 2003, the Company completed a private placement of 4,545,455 special warrants at a price of US$2.20 per special warrant for aggregate proceeds of approximately US$10 million.  Each special warrant entitles the holder to acquire one common share.  In addition, the purchaser received purchase warrants to acquire 2,272,727 additional common shares of Crystallex.  Each purchase warrant entitles the holder to acquire one common share, at an exercise price of US$2.75 per share for a three year period.

On September 8, 2003 the Company closed a private placement of 12,800,000 special warrants at a price of US$2.20 per special warrant for aggregate proceeds of US$28.2 million.  Each special warrant entitles the holder, upon exercise, to acquire one common share and one-half of one common share purchase warrant.  Each whole common share purchase warrant is exercisable for one common share of the Company at an exercise price of US$2.75 per share for a period of three years.

INVESTING ACTIVITIES
Capital expenditures during the third quarter totaled $6.4 million, compared with $31.5 million for the same period in 2002.  Investments were principally for the Las Cristinas project $4.7 million, with the balance related to the operating mines in Uruguay and Venezuela.

As noted, subsequent to quarter end, the Company spent US$1.84 million to settle 25,000 ounces of forward sales from future periods.

NON GAAP MEASURES
The total cash cost per ounce data are presented to provide additional information and are not prepared in accordance with Canadian or U.S. GAAP.  The data should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.  The measures are not necessarily indicative of operating profit or costs of operations as determined under Canadian or U.S. GAAP.  The total cash cost per ounce calculation is derived from amounts included in the Operating Expense line on the Statement of Operations.  As this line item is unchanged under US GAAP, the total cash cost per ounce figure is similarly unchanged using US GAAP results of operations.

Total cash costs per ounce are calculated in accordance with "The Gold Institute Production Cost Standard."  Crystallex has not changed the components of these costs from period to period.  Adoption of this standard reporting is voluntary, and the data may not conform to other similarly titled measures provided by other precious metals companies.  Management uses the cash cost per ounce data to access profitability and cashflow from Crystallex's operations and to compare it with other precious metals producers.  Total cash costs per ounce are derived from amounts included in the Statement of Operations and include mine site operating costs such as mining, processing, administration, royalties and production taxes but exclude amortization, reclamation, capital expenditures and exploration costs.

RISK FACTORS
The profitability of the Company depends upon several identified factors including levels of production, commodity prices, costs of operation, financing costs, the successful development and integration of Company assets and the risks associated with mining activities.  Profitability will further vary with discretionary expenditures such as investments in technology, exploration and mine development.  The Company operates in an international marketplace and incurs exposure to risks inherent in a multijurisdictional business environment including political risks, varying tax regimes, country specific employment legislation and currency exchange fluctuation.  The Company presents and updates in its public filings risk factors that it considers relevant and material to its business at the time of filing. The Company seeks to minimize its exposure to these factors by implementing insurance and risk management programs, monitoring debt levels and interest costs, and maintaining employment and social policies consistent with sustaining a trained and stable workforce.

Reclamation and Environmental Risks
The Company takes care to maintain compliance with the regulations prevalent in the countries within which it has activities.  Concern for the environment has spawned several regulations with regard to mining in various countries.  The Company believes that its environmental programs, developed internally in conjunction with local advisors, not only complies with but in some cases exceeds prevailing regulations.  The Company accrues for its estimated future reclamation and remediation liability over the life of its mines, while costs relating to ongoing site restoration are expensed when incurred.  The Company's estimate of its ultimate reclamation liability may vary from current estimates due to possible changes in laws and regulations and changes in costs estimated.  The Company will accrue additional liabilities for further reclamation costs as and when evidence becomes available indicating that its reclamation liability has changed.

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 principle asset is the Las Cristinas property in Bolivar State which is currently under development. Other producing assets include the Tomi Mine, the La Victoria Mine and the Revemin Mill.

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.