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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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Recent posts

posted on Jan 24, 2010 10:39PM

Hello all

I would encourage those that have some anxiety and fear to take a look at the November Press Release. I think it answers many concerns.

I have highlighted in my mind the sections I deem important.

Cheers

Teutracker

TORONTO, ONTARIO -- (MARKET WIRE) -- 11/16/09 -- Crystallex International Corporation (TSX: KRY) (NYSE Amex: KRY). At the request of Market Surveillance, on behalf of the Toronto Stock Exchange, Crystallex is issuing this press release to confirm that it is not aware of any material undisclosed corporate developments which would account for the recent increase in its stock price and trading volume.

Due to the ongoing dispute with the Venezuelan Government regarding the issuance of the Environmental Permit for the Las Cristinas Project, Crystallex has been exploring various alternatives to mitigate the impasse and protect its investments under the Mine Operating Contract ("MOC") that it has with the Venezuelan Government.

These alternatives include a number of possible transactions and structures. While discussions are ongoing, there can be no assurance that definitive agreements can be reached. The Company continues to work on behalf of all of our stakeholders to identify and progress alternatives in the context of the Las Cristinas dispute with the Venezuelan government to maximize stakeholder value.

In the event that Crystallex is not able to reach a satisfactory negotiated settlement, it is prepared to submit its dispute with the Bolivarian Republic of Venezuela to international arbitration under the terms of the Agreement between the Government of Canada and the Government of Venezuela for the Promotion and Protection of Investments. The Company has been advised that by remaining in full compliance with the MOC while it continues to reach a resolution on Las Cristinas the Company will preserve the option of international arbitration. Accordingly, the Company has determined that it is in the best interest of all stakeholders to remain compliant with the MOC and incur the consequent expenditures.

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