Caracas, Venezuela - Crystallex International Corporation (KRY: TSX, AMEX) welcomes the strong endorsement given by the Republic of Venezuela to the Company's Mining Operation Contract to develop and exploit the Las Cristinas gold properties.
Senior representatives of the Executive of the Republic of Venezuela, including General Francisco Rangel Gómez, President of the Corporación Venezolana de Guayana ('CVG'), and representatives from the Legislative authorities including Mr. Luis Salas, President of the Energy and Mines Commission of the National Assembly, Luis Velásquez Alvaray, recently appointed Vice-President of the Comptroller´s Commission of the National Assembly, and Rafael Simón Jiménez, member of the Comptroller´s Commission and until December 2002, Vice-President of the National Assembly of the Republic of Venezuela, clearly stated that the Republic of Venezuela fully supports the Las Cristinas Mining Operation Contract. They further stated that in the history of the Republic of Venezuela, there has never been a single case where the government failed to honour commitments to mining, petroleum or telecommunications companies. These assurances were made during public meetings this week in Venezuela with representatives of Crystallex and international financial institutions.
Crystallex International Corporation dismissed as self-serving the allegations contained in Vannessa Ventures April 8, 2003 press release. Crystallex's Mining Operation Contract is a final and binding agreement based on the authority and the laws of the Republic of Venezuela and is not open to discussion.
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. 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 working on the final feasibility study to support its development plans for Las Cristinas.
For further information:
Investor Relations: A Richard Marshall, VP (800) 738-1577
Internet address: http://www.crystallex.com
Email: info@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 news release.
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