TORONTO, ONTARIO--(MARKET WIRE)--Feb 28, 2008 -- Crystallex International Corporation (Toronto:KRY.TO - News) (AMEX:KRY - News) today provided shareholders a recap of achievements and progress for the Las Cristinas gold project in South Eastern Bolivar State, Venezuela.

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Mr. Gordon Thompson, Crystallex President and Chief Executive Officer, commented that, "During 2007, our project partner the Corporacion Venezolana de Guayana ("CVG"), was formally notified by the Ministry of the Environment and Natural Resources of Venezuela ("MinAmb") that all the requirements for the issuance of the Las Cristinas Environmental permit had been fulfilled."

"MinAmb approved the Environmental Impact Study ("EIS") for the Las Cristinas gold project, and requested the CVG post a Construction Compliance Guarantee Bond and pay certain environmental taxes. Mr. Thompson confirmed that, "The formal notice MinAmb sent to the CVG stated, "the Environmental permit will be issued following the payment of taxes and posting of the bond". Crystallex posted the requested bond and paid the requested taxes. No impediments have been raised in discussions with Government officials, and they've recently confirmed we're in good standing for the issuance of the permit."

The Company received additional support for the issuance of the Las Cristinas permit in the fall of 2007, when the Venezuelan National Assembly's Commission of Economic Development reviewed the protracted timeline for the issuance of the Las Cristinas environmental permit. Following their October 4th, 2007 hearings, the Commission issued a report noting that representatives from MinAmb, the Ministry of Basic Industry and Mines ("MIBAM"), the CVG, and Crystallex had testified at their hearings. The Commission's report concluded that the CVG and Crystallex had complied with the feasibility study and other legal and technical requirements, thus allowing for the permit to be granted by MinAmb. The Chairman of the Commission recommended MinAmb grant the permit.

Earlier this year, Mr. Rodolfo Sanz was appointed the Minister MIBAM and President of the CVG, having direct involvement with the Las Cristinas project in both capacities. Crystallex has met with Minister Sanz and expects to host Mr. Sanz at Las Cristinas in the near term.

Crystallex representatives have also recently met with Perry Calderwood, the newly appointed Canadian Ambassador to Venezuela and provided him with an update on the Las Cristinas project. Ambassador Calderwood is very active, as is the Government of Canada in furthering the interests of Canadian companies investing in Venezuela. Following a visit to Bolivar State, Ambassador Calderwood commented that he was working to advance Canadian interests (including mining) in Bolivar Sate and Venezuela.