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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: Re: Gold Reserve Updates- Has CRY also made an offer to chinese and ven?

GRZ has made a settlement proposal per the below to the chinese and ven have we?

"Consistent with its publically stated intent to develop the Brisas Project and contiguous areas, Venezuela has concluded a contract with a large Chinese corporation for initial studies related to the development and eventual construction of the Brisas-Cristinas mine as a large gold-copper complex. With this in mind, the Company continues to have discussions with the Venezuelan authorities regarding a settlement of the dispute including the transfer of the extensive technical data related to the development of the Brisas Project that was compiled by the Company. A conservative estimate to develop the Brisas-Cristinas project without access to the Company's engineering data could be 7 to 10 years; with a settlement that would provide access to that data, the mine could theoretically be developed in about 3 to 4 years. Gold Reserve has proposed a solution to the Venezuelan government that would allow the mine, with the assistance of the Chinese corporation, to be developed for the benefit of Venezuela, with proper compensation for our stakeholders. We have provided our solution to various government entities with oversight responsibility for the Brisas project and through the submission of construction and financing proposals to the relevant authorities, including the Central Bank of Venezuela, the Ministry of Oil and Mines and the Attorney General's office."

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