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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Crystallex Continues to Seek Solution/Resolution!

Crystallex Continues to Seek Solution/Resolution!

posted on Oct 27, 2009 01:46PM

There has been much chatter of late specfic to many issues (we all know what they are so no need to review them.) and some of these isssues do require some explanation. So I am providing a copy of RM's communications that does address some of my questions and others we will have to wait until Crystallex's Q3 filings expected shortly. (We are still not privy to any information on details to the solution/resolution, but because we have not filed should suggest something appears in the works; I fully understand why details cannot be disclosed - I get it and a major source of frustration on this board based on recent communications.)

Richards email comments:

Mr. XXXX, Crystallex remains is possession and control of the Las Cristinas
Project as outlined in the terms of the Mine Operating Contract ("MOC").
Venezuela has confirmed the Contracts validity and Crystallex's compliance
therein.


At this time the Company's efforts are focused on compliance with the MOC
and the seeking a prudent resolution/solution to the Las Cristinas Dispute
outlined in the Company's news release dated November 28, 2008. Crystallex
believes it has a claim for compensation and damages through ICSID should
the efforts for a solution/resolution be unsuccessful.


Unfortunately, illegal mining is rampant in Venezuela and very much
unchecked in the South East of Bolivar State. There's very little else that
can generate income for locals and there are many, many people that
illegally cross borders to seek profit from the bountiful Venezuelan soils
creating significant environmental damage and a wild, wild west environment.
I believe the current activity by these nomadic groups is up to the northern
end of the KM88 region near or on the Oro Uno and Bizkatarra properties and
more recently there appears to be some activity in or approaching from the
south onto and through the Brisas property. Crystallex does what it can
within the law and under the terms of the MOC to protect and preserve the
integrity of Las Cristinas form this illegal activity but responsibility
lies with the Venezuelan Authorities. There has been great damage in the
region by illegal miners over the decades.

We believe the advancement of the MOC will relieve much of the unemployment strain in the region and deliver legal jobs for the long term and help the region prosper with sustainable development. To that end, the Company is continuing to seek and
solution/resolution to the Dispute
that would be in the interests of all the
stakeholders.


Hopefully our efforts will be productive and visible progress emerge
demonstrating a path forward for the Company and shareholders. The Company
is actively working to address issues it's facing including improving
working capital, defending the proposed class action suit, the Noteholder
claim and resolving the Las Cristinas Dispute. Updates on these matters
should be forth coming in the Company's Q3 Financial Statements and MD&A
filings.


Regards,

Richard Marshall

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