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Crystallex Comments on Recent Market Activity

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Last Update: 3:08 PM ET Mar 28, 2007


TORONTO, ONTARIO, Mar 28, 2007 (MARKET WIRE via COMTEX) -- Crystallex International Corporation (CA:KRY: news, chart, profile) (KRY : Crystallex International Corporation
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Last: 4.07+1.01+33.01%

3:07pm 03/28/2007

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KRY4.07, +1.01, +33.0%) issued today the following statement concerning the increase in its stock price and trading volume:
"Crystallex is aware that Gold Reserve Inc (CA:GRZ: news, chart, profile) (GRZ : gold resv inc cl a
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Last: 6.44+2.04+46.36%

3:07pm 03/28/2007

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GRZ6.44, +2.04, +46.4%) today announced that its Brisas Project had been awarded the Environmental Approval and Construction Permit from the Ministry of the Environment and Natural Resources ("MARN").
Commenting on the news, Gordon Thompson, Crystallex President and CEO stated, "The awarding of the Brisas environmental permit is a clear signal that Venezuela is fulfilling its promise to advance mining projects. Crystallex is in the final stages of environmental permitting for the Las Cristinas project and looks forward to the timely conclusion of the permitting process at MARN."
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 2009 at an initial annualized rate of some 300,000 ounces at the initial planned production rate of 20,000 tonnes of ore per day. Other key 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) Exchanges.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including: statements relating to the estimated reserves and resources at Las Cristinas; anticipated results of drilling programs, feasibility studies or other analyses; the potential to increase reserves and expand production, at Las Cristinas; Crystallex's projected construction and production schedule, and cost and production estimates, for Las Cristinas; and management's statements regarding its expectations regarding mining in Venezuela. Forward-looking statements are based on estimates and assumptions made by Crystallex in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Crystallex believes are appropriate in the circumstances. Many factors could cause Crystallex's actual results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: 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. These factors and others that could affect Crystallex's forward-looking statements are discussed in greater detail in the section entitled "Risk Factors" in Crystallex's Annual Information Form (which is included in the Annual Report on Form 40-F that Crystallex files with the United States Securities and Exchange Commission (the "SEC") and elsewhere in documents filed from time to time with the Canadian provincial securities regulators, the SEC and other regulatory authorities. These factors should be considered carefully, and persons reviewing this press release should not place undue reliance on forward-looking statements. Crystallex has no intention and undertakes no obligation to update or revise any forward-looking statements in this press release, except as required by law.
Contacts: Crystallex International Corporation Investor Relations Contact: Richard Marshall, VP 1-800-738-1577 Email: [e-mail] Website: www.crystallex.com
SOURCE: Crystallex International Corporation
mailto:[e-mail] http://www.crystallex.com Copyright 2007 Market Wire, All rights reserved. ********************************************************************** As of Saturday, 03-24-2007 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated a DOWNTREND on 02-27-2007 for GRZ @ $4.47. As of Saturday, 03-24-2007 23:59, the latest Comtex SmarTrend Alert, an automated pattern recognition system, indicated a DOWNTREND on 01-18-2007 for KRY @ $2.92. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright © 2004-2007 Comtex News Network, Inc. All rights reserved.