Crystallex (KRY) and Ministry of Environment Begin Discussions; National Assembly Committee Supports Las Cristinas

June 24, 2008 9:23 AM EDT

Crystallex Corporation (AMEX: KRY) wishes to advise that on June 18, 2008, Crystallex was invited to a meeting by representatives of the Ministry of the Environment, led by Vice Minister of Environmental Planning and Administration, Ing. Merly Garcia. At this meeting, Crystallex was informed that MinAmb was instructed by the Government to reconsider issuance of the Las Cristinas Environmental Permit to Affect Natural Resources by discussing with Crystallex possible modifications of the Las Cristinas project, which could enable the Permit to be issued.

In addition, Crystallex has received the official minutes of the meeting held at the Permanent Committee for the Economic Development of the National Assembly at the public hearing held on June 4, 2008 to discuss the delay of the Las Cristinas project. At the meeting, representatives of the Ministry of Mines confirmed support for Crystallex and its compliance with all procedural and administrative steps up to the denial of the permit by MinAmb. The resolution issued by the Committee states that the Las Cristinas project has been in development for a significant period of time with the support of different branches of the Government.

It is too early for Crystallex to forecast how this issue will be resolved, but it is encouraged by the support from the Venezuelan Government and National Assembly. Crystallex welcomes the opportunity offered by MinAmb to help create additional solutions to the extensive environmental damage that already exists due to illegal mining in the Las Cristinas area, and to improve the project in order to respond to issues raised by MinAmb.

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