KRY Crystallex International Corp. Common Stock

TORONTO, Sept. 22 /PRNewswire-FirstCall/ -- Crystallex International Corporation (AMEX:KRY) Toronto responding to continued selling pressure in the Company's shares, Crystallex International Corporation's President and Chief Executive Officer, Todd Bruce, reiterated today from the Company's offices in Caracas that the Company is confident that its contract to develop the Las Cristinas project in Bolivar State will not be impacted by changes recently announced by Venezuelan President, Hugo Chavez Frias. Mr. Bruce stated, "I believe that the remarks of the President confirm that the Republic will own and control the mineral assets of Venezuela and that the nation is committed to ensure that those assets are developed productively for the benefit of Venezuela and its citizens. The assets, amongst other things, represent a source of jobs, economic and social development, and a source of continuing revenue to the government. None of those objectives will be accomplished if the assets remain dormant. The government is also committed to deal with the long standing problem of illegal mining and its social, environmental and economic damage to Venezuelans and their communities. We welcome the initiatives of the National Assembly in that regard. The development of the Las Cristinas deposit under the mine operation agreement is consistent with these objectives on all fronts. As we said yesterday, the Las Cristinas deposit is owned by Venezuela. It is controlled and administered by the government through the CVG and our mine operation agreement. Our contract is founded and premised upon the ownership of the resource by the Republic of Venezuela. Our commitment is to develop the Las Cristinas assets in accordance with the terms of our contract. Crystallex has been very active since the inception of the contract in fulfilling its responsibilities and has invested millions of dollars in engineering, equipment purchases, and infrastructure improvements and awaits only the final permit to begin formal construction. We believe the President's comments related to delays at Las Cristinas were historic in nature and in reference to other parties. Far from being passive in its development efforts at Las Cristinas and its other Venezuelan properties, Crystallex has been totally proactive and is committed to full scale development when the final permit is issued." Mr. Bruce continued, "The President has presented the establishment of a national resource development entity, the core assets of which would consist of mining assets provided by CVG. In this event, the Las Cristinas deposit would become a core asset in such new organization. Again, we do not believe that this would impact our contract which in that circumstance would be administered by the new mining entity. I would reiterate that nowhere has it been said that Venezuela does not intend to honor valid and subsisting contracts with reputable and performing international companies. This has not happened in the past and we do not believe that it will happen in the future if parties meet the obligations established by their agreements." Mr. Bruce concluded, "It is indeed unfortunate that what is often reported in the media would seem to bear little resemblance to what we understand are the true intentions and initiatives of the government. Crystallex will continue to work with the government and mining and environmental authorities in the fulfillment of its obligations under its Mine Operating Agreement ("MOA") and in the productive development of the mining assets of Venezuela." About Crystallex Crystallex International Corporation is a Canadian based gold producer with significant operations and exploration properties in Venezuela. The Company's principal asset is the Las Cristinas property in Bolivar State that is currently under development and which is expected to commence commercial gold production in the first quarter of 2007 at an initial annualized rate of some 300,000 ounces. Other assets include the Tomi Mine, the La Victoria Mine and the Revemin Mill. Crystallex shares trade on the TSX (symbol: KRY) and AMEX (symbol: KRY) Exchanges. NOTE: This Release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Crystallex, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward- looking statements are subject to a variety of risks and uncertainties, which could cause actual events, or results to differ from those reflected in the forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Specific reference is made to "Narrative Description of the Business - Risk Factors" in the Company's Annual Information Form ("AIF"). Forward-looking statements in this release including, without limitation to, statements regarding the expectations and beliefs of management include the following: gold price volatility; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated reserves, and between actual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; speculative nature of gold exploration; dilution; competition; loss of key employees; additional funding requirements; and defective title to mineral claims or property, as well as those factors discussed in the section entitled "Risk Factors" in Crystallex's AIF, annual report, and elsewhere in documents 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. DATASOURCE: Crystallex International Corporation CONTACT: Investor Relations, A. Richard Marshall, VP of Crystallex International Corporation, +1-800-738-1577, or Email, Web site: http://www.crystallex.com/ Company News On-Call: http://www.prnewswire.com/comp/114620.html

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