For Immediate Release

TORONTO, ONTARIO, February 1, 2006 – Crystallex International Corporation (the “Corporation”) (TSX: KRY) (AMEX: KRY) announced today that it has completed its previously announced non-brokered private placement to an investor of 10,799,000 units (the “Units) at a purchase price of U.S.$2.90 per Unit for aggregate gross proceeds of U.S.$31,317,100.  In the aggregate, the Corporation issued 10,799,000 common shares and 16,330,000 common share purchase warrants (the “Warrants”).  Each whole Warrant entitles the holder to purchase one common share of the Corporation at a purchase price of U.S. $4.50 per share for a period of 18 months commencing on the later of: (i) 61 days from the closing date of the private placement; and (ii) 45 days following the receipt of the Permit for the Corporation’s Las Cristinas Project in Venezuela.

The Corporation plans to use the net proceeds from the private placement to develop the Las Cristinas Project, to repay a portion of existing indebtedness and for general corporate purposes.  A finder’s fee will be payable to the Corporation’s financial advisor in connection with the completion of the private placement.

About Crystallex
Crystallex International Corporation is a Canadian gold producer with operations and exploration properties in Venezuela.  The Company’s principal asset is its interest in the Las Cristinas property in Bolivar State that is currently under development. Other assets include the Tomi Mine, certain Lo Increible properties and the Revemin Mill. Crystallex shares trade on the TSX (symbol: KRY) and AMEX (symbol: KRY).

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

The Toronto Stock Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release.