KRY Crystallex International Corp. Common Stock

Crystallex Reports Further Positive Infill Drill Results From Las Cristinas TORONTO, Sept. 24 /PRNewswire-FirstCall/ -- Crystallex International Corporation (AMEX:KRY) Toronto today reported assay results, tabulated below, for a further five contiguous bore holes from the northern area of the infill drilling program announced on April 19th 2004. Drill hole locations and coordinates are shown on the accompanying location plan. All inclined holes were drilled at an azimuth of 90 degrees. (Photo: http://www.newscom.com/cgi-bin/prnh/20040924/CLF003-a http://www.newscom.com/cgi-bin/prnh/20040924/CLF003-b ) Crystallex implemented an 18-hole, 7120.2 meter infill drilling program to upgrade inferred resources to indicated resources at Las Cristinas. The results released today compliment the results for the first five bore holes published in a press release on August 24th, 2004, and assay results for the remaining holes should be reported in the next few weeks. Table 1 Assay results for principal mineralized intervals intersected in the northern area of the infill program. The results are tabulated according to the geographic location of the bore holes with the northernmost bore hole appearing first in the table and the southernmost last. Hole No Mineralization Intersection (meters) Grade Est. Vertical Downhole Est. (g/t Au) Depth True Width Start (m) From To Length K4CO1140 190 283.50 357.50 74.00 72.50 1.50 K4CO1141 247 247.50 330.50 83.00 54.00 2.35 includes 247 247.50 259.50 12.00 7.80 5.44 includes 265 265.50 330.50 65.00 42.30 2.00 K4CO1142 190 206.50 278.50 72.00 69.80 1.31 K4CO1143 185 207.50 284.50 77.00 75.50 1.94 290 320.50 332.50 12.00 11.80 1.77 K4CO1130 0 0.00 45.00 45.00 43.20 1.44 99 106.50 131.50 25.00 24.00 0.93 185 198.50 298.50 100.00 96.00 1.77 310 334.50 347.50 13.00 12.50 1.19 Table 2 Assay results for the five bore holes in the southern area released by Crystallex on August 24th, 2004 are tabled below. Hole No Mineralization Intersection (m's) Grade Est. Vertical Downhole Est. (g/t Au) Depth True Width Start From To Length K4CO1132 250.2 289.0 411.5 122.5 120.7 1.50 K4CO1133 259.5 276.5 318.5 42.0 39.5 0.86 299.3 318.5 383.5 65.0 61.1 1.56 K4CO1134 276.5 276.5 419.5 143.0 109.5 1.09 K4CO1135 221.3 235.5 372.5 137.0 128.7 1.92 includes 271.1 288.5 317.5 29.0 27.3 4.59 K4CO1136 221.5 221.5 449.5 228.0 174.6 1.57 includes 313.5 313.5 449.5 136.0 104.2 2.22 includes 373.5 373.5 402.5 29.0 22.2 3.50 The purpose of the infill drill program was threefold: - To increase the density of drilling in zones currently classified as inferred resources in order to confirm the continuity of the higher grade portion of the orebody, a 100 m to 200 m thick mineralized zone consisting of bands grading 1.0 g/t Au to over 7 g/t Au alternating with sub-parallel mineralized horizons in the 0.25 to 1.0 g/t Au range, within the targeted zones of inferred resources; - To upgrade inferred resources to indicated resources. - To incorporate the newly defined indicated resources into a revised Las Cristinas resource and reserve model to be completed by Mine Development Associates ("MDA") of Reno, Nevada. An east-west cross section on the 9450 line is provided as an example of the geometry of the inferred resource zone within the Conductora pit shell targeted by the drilling. Todd Bruce, Crystallex President and CEO, commented, "The positive results from the first 5 bore holes reported in August and the additional 5 bore holes reported today, as judged by the fact that all the intercepts in these holes exceed the cut-off grades of 0.5 to 0.7 g/t while the great majority of the intercepts exceed the current average reserve grade of 1.29 g/t, suggest that Crystallex's objective of increasing the current 10.2 million ounce Las Cristinas gold reserve through this infill drill program is likely to be achieved. We have provided these new data to MDA in order to update our reserve and resource models and mine plan. Crystallex expects to release the resultant revised reserve and resources estimates during the second half of October." Following the completion of the new reserve and resource models using a US$325 per ounce gold price, MDA will run reserve calculations at various gold prices. Crystallex expects to release these reserve sensitivity results towards the end of October. Drilling at Las Cristinas was carried out by Major Drilling of Moncton, New Brunswick and Dr. Luca Riccio, P.Geo, Crystallex's VP of Exploration, was the qualified person in charge of supervising the drilling programs. All core samples, as well as standards, blanks and coarse rejects for quality control were prepared at Societe Generale de Surveillance's ("SGS") sample preparation laboratory in Tumeremo, Venezuela, and subsequently assayed at SGS's analytical laboratory in Lakefield, Ontario. Las Cristinas is one of the industry's largest undeveloped gold deposits with proven and probable reserves of 10.2 million ounces of gold (246 million tonnes @ 1.29 g/t Au at 0.5-0.7g/t Au cutoffs and a gold price of US$325 per ounce) which are included in total measured and indicated resources of 15.3 million ounces of gold (439 million tonnes @ 1.1 g/t Au at 0.5 g/t Au cutoff). Inferred resources amount to a further 6.1 million ounces (208 million tonnes at 0.91 g/t). All reserve and resource estimates have been completed by MDA. The Las Cristinas reserves are located within a 3-kilometer by 1-kilometer pit which extends to a maximum vertical depth of 350 metres based on a gold price of US$325 per ounce. Based on the current development schedule Las Cristinas is planned to commence commercial production in the first quarter of 2006 at an average annualized production rate of some 300,000 ounces per year and total cash costs of US$128 per ounce for the first five years at the initial processing rate of 20,000 tonnes per day. 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. Other key 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 contains certain forward-looking statements and information regarding Crystallex's financial position, business strategy and plans and objectives of its management for future operations that derive from management's beliefs and assumptions based on information currently available. The statements and information are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this release, the words "anticipate," "believe," "intend," "estimate," "expect," "will," "could," "may" and similar expressions intend to identify forward- looking statements, but the fact that any of these words does not appear does not mean that the statement is not forward-looking. Forward-looking statements, which appear in this release, describe, among other things, risks and uncertainties, and reflect management's current views with respect to future events. Actual results could differ materially from those contemplated by the forward-looking 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, including but not limited to its annual information form ("AIF") and its annual report on Form 20-F, filed from time to time with the Canadian provincial securities regulators, the United States Securities and Exchange Commission ("SEC"), and other regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, whether financial or otherwise, may vary materially from those described on this release. This paragraph expressly qualifies all subsequent written and oral forward-looking statements attributable to Crystallex or persons acting on its behalf as disclosed in this release or elsewhere. Cautionary Note to Investors - We use certain terms in this release, such as "resource," "measured resource," "indicated resource" and "inferred resource," that the SEC guidelines strictly prohibit us from including in our filings with the SEC. Furthermore, reserves have been calculated in accordance with NI 43-101, as required by Canadian securities regulatory authorities. For United States reporting purposes, however, a full feasibility study is required in order to classify mineral deposits as reserves, since the SEC permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Therefore, the amount of reserves may differ for Canadian and US reporting purposes. The Toronto Stock Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release. http://www.newscom.com/cgi-bin/prnh/20040924/CLF003-a http://www.newscom.com/cgi-bin/prnh/20040924/CLF003-b http://photoarchive.ap.org/ DATASOURCE: Crystallex International Corporation CONTACT: Investor Relations, Richard Marshall, VP of Crystallex International Corporation. +1-800-738-1577, or Web site: http://www.crystallex.com/ Company News On-Call: http://www.prnewswire.com/comp/114620.html

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