KRY Crystallex International Corp. Common Stock

Crystallex Reports Full Results from Las Cristinas 2004 Infill Drill Program; Appoints Dr. Richard Spencer VP Exploration TORONTO, Oct. 12 /PRNewswire-FirstCall/ -- Crystallex International Corporation (AMEX:KRY) Toronto today reported the assay results from remaining 8 holes of the infill drilling program announced on April 19th 2004. Crystallex implemented this program to upgrade inferred resources to indicated resources at Las Cristinas in order to increase the current 10.2 million ounce reserve. The 18-hole, 7120.2 meter program, was completed in mid-June 2004. Results from ten of the eighteen holes of the infill program were press released by Crystallex in August and September 2004. Results for all the principal mineralized intervals of the 18-hole infill drilling program are tabulated below. 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 ) Table 1 - Assay results for principal mineralized intervals intersected in the northern area drilled in 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 in the table. Table 1 Hole No Mineralization Intersection (meters) Grade Est. Downhole Est. (g/t Au) Vertical True Depth 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 75.5 1.94 290 320.5 332.50 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 K4CO1131 173 173.50 313.50 140.00 121.80 0.94 * Assay results (shown in italics) previously reported in a Crystallex press release dated September 24th, 2004. Table 2 - Assay results for the principal mineralized intervals intersected in the southern area drilled in 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 in the table. Table 2 Hole No Mineralization Intersection (meters) Grade Est. Downhole Est. (g/t Au) Vertical True Depth Width Start (m) From To Length **K4CO1132 250.2 289.00 411.50 122.50 120.70 1.50 **K4CO1133 259.5 276.50 318.50 42.00 39.50 0.86 299.3 318.50 383.50 65.00 61.10 1.56 **K4CO1134 276.50 276.50 419.50 143.00 109.50 1.09 **K4CO1135 221.30 235.50 372.50 137.00 128.70 1.92 Includes 271.10 288.50 317.50 29.00 27.30 4.59 **K4CO1136 221.50 221.50 449.50 228.00 174.60 1.57 Includes 313.50 313.50 449.50 136.00 104.20 2.22 Includes 373.50 373.50 402.50 29.00 22.20 3.50 K4CO1138 112.00 112.50 164.50 52.00 36.90 1.10 219.00 219.50 295.50 76.00 54.00 1.50 K4CO1137 169.00 169.50 183.50 14.00 9.90 1.03 205.00 205.50 234.50 29.00 20.60 1.65 243.00 243.50 263.50 20.00 14.20 1.14 274.00 274.50 289.50 15.00 10.70 1.02 302.00 302.50 420.00 117.50 83.40 1.83 K4CO1139 137.00 139.00 228.00 89.00 74.80 0.88 303.00 306.00 400.00 94.00 79.00 1.52 Includes 303.00 306.00 380.00 74.00 62.20 1.74 K4CO1144 150.00 171.50 214.50 43.00 41.30 1.24 200.00 227.50 236.70 9.00 8.60 5.43 233.00 264.50 382.50 118.00 113.30 2.05 Includes 251.00 285.50 320.50 35.00 33.60 4.15 K4CO1145 68.00 68.00 126.00 58.00 44.30 1.02 172.50 172.50 330.50 158.00 121.00 1.68 Includes 222.50 222.50 241.50 19.00 14.60 3.10 Includes 259.60 259.60 292.50 33.00 25.30 2.15 Includes 316.50 316.50 330.50 14.00 10.70 4.12 K4CO1146 12.70 14.00 70.00 56.00 54.10 1.32 88.00 98.00 136.50 38.50 37.20 1.59 140.90 155.50 270.50 115.00 111.10 1.33 Includes 162.70 179.50 210.50 31.00 29.90 2.38 K4CO1147 169.50 175.50 321.50 146.00 132.30 1.26 ** Assay results (shown in italics) previously reported in a Crystallex press release dated August 24th, 2004. 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 allow previously identified inferred resources to be upgraded 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 for release by Crystallex at the beginning of Q4 2004. 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 18 hole infill drill program strongly suggests that Crystallex's objective of increasing the current 10.2 million ounce Las Cristinas gold reserve with this program will be achieved. MDA has now been provided with all the results from the infill drilling program in order to update our Reserve and Resource models and Mine Plan. We expect to release MDA's updated reserve estimates later this month." Following the completion of the new reserve and resource models using a US$325 per ounce gold price, MDA will produce a sensitivity analysis showing reserve calculations at various gold prices. Crystallex expects to release these sensitivity results in late 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. Core samples from 15 of the 18 holes, 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. Core from three bore holes (K4CO1145, 1146 and 1147), along with standards, blanks and coarse rejects for quality control, were prepared and assayed at Triad's laboratory at La Camorra, Venezuela. Crystallex also announced today the appointment of Dr. Richard Spencer as Crystallex's Vice President, Exploration. Dr. Spencer joined the Crystallex management team at the beginning of October 2004. Prior to joining Crystallex, Dr. Spencer was employed by IAMGOLD Corporation as the Exploration Manager for South America where he had responsibility for exploration in Ecuador, Argentina, Brazil and Peru as well as the pursuit of acquisition opportunities throughout South America. This exploration led to a potentially major gold-copper discovery on the Quimsacocha property in Ecuador. Prior to joining IAMGOLD Dr. Spencer worked on gold target-generation in the Witwatersrand basin for Gencor (now BHP Billiton) in South Africa for some 7 years, before being seconded to Ecuador. In Ecuador, he initiated and oversaw exploration programs which resulted in the discovery of a belt of copper porphyries which is now known as the Corriente Copper Belt. Dr. Spencer has a PhD in Geology obtained from the University of the Witwatersrand in South Africa. Dr. Spencer is a member of the Society of Economic Geologists, the Society for Geology Applied to Mineral Deposits and is a fellow of the Geological Society of London. Dr. Luca Riccio, who served as VP Exploration while the company was headquartered in Vancouver, has elected not to move to Toronto. He will continue to assist the management team as the Company's Consulting Geologist. Crystallex wishes to thank Dr. Riccio for all his past contributions and looks forward to his future contributions in his new role. 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 2006 at an average annualized rate of some 300,000 ounces for the first five years of operation. 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: Richard Marshall, VP of Crystallex International Corporation, +1-800-38-1577, or Web site: http://www.crystallex.com/ Company News On-Call: http://www.prnewswire.com/comp/114620.html

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