TORONTO, ONTARIO - Crystallex International Corporation (KRY on TSX and Amex) announced today it has filed a report following the guidelines of National Instrument 43-101F, regarding its 100% controlled Las Cristinas gold project in Venezuela. The report is the first of two reports that Crystallex has commissioned in respect of the Las Cristinas deposits. This initial technical report describes the historic work done by previous operators and, the results of that work. It supports the adequacy and relevance of the data produced and previously made public in respect of the Las Cristinas properties. The report, compiled by Mine Development Associates ('MDA') of Reno, Nevada, has been filed on SEDAR and is available at the website (http://www.sedar.com). The persons responsible for or involved in the preparation of the report on behalf of MDA included Steven Ristorcelli, P. Geo., Scott Hardy, P. Eng. and Neil Prenn, P. Eng., all of whom are "qualified persons" for the purposes of National Instrument 43-101.

MDA reports that "the Las Cristinas project contains a significant gold/copper deposit with potential to increase in size". MDA found that "for the most part, the existing Las Cristinas data is adequate and appears valid", "the work was done in a technically sound basis" and the "work can form the basis for making economic decisions". The report recommends that Crystallex "perform data validation and verification and then reinitiate engineering studies culminating in a new feasibility study". MDA was on site at Las Cristinas in October 2002 during which time they reviewed existing evidence and took independent samples of core, pulps and course rejects as part of the commencement of the verification process. Crystallex has been conducting validation and verification work including reviewing existing drill core, re-surveying drill holes, re-analysing drill core to check against original assay data and performing twinned core drilling to verify original drill holes. In conjunction with the Crystallex verification program, MDA has undertaken reserve and resource modeling, as well as the completion of a mine plan for the Las Cristinas project.  The second MDA report updating reserve and resource modeling and mine plan is expected to be released in the 1st Quarter of 2003, and will be filed on SEDAR upon release.                        

Crystallex entered into a binding agreement on September 17, 2002 with Corporacion Venezolana de Guayana ('CVG') which granted to Crystallex the exclusive rights to exploit and extract gold from the Las Cristinas properties.  On September 30, 2002, Crystallex took possession of the Las Cristinas properties as well as related data, studies and core samples, and subsequently commissioned MDA to undertake a modeling and mine plan.  Since Crystallex's development plans will differ from those of previous operators, the second MDA report will allow Crystallex, for the first time, to address the potential of the Las Cristinas properties in the specific context of Crystallex's plans.

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:
Contact:  A Richard Marshall, VP at  (201) 541-6650 or Andrea Boltz at (604) 683-0672
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.

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