Crystallex International Corporation

Crystallex International Corporation

August 11, 2006 10:09 ET

Crystallex International Completes Cdn$32.4 Million Equity Financing

TORONTO, ONTARIO--(CCNMatthews - Aug. 11, 2006) -


Crystallex International Corporation (TSX:KRY)(AMEX:KRY)("Crystallex") announced today that it has completed its previously announced equity financing of 10,125,000 Units of Crystallex at a price of Cdn$3.20 per Unit for gross proceeds of Cdn$32,400,000. Each Unit is comprised of one common share of Crystallex and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one common share at a price of Cdn$4.25 for a period of 18 months following the closing date of the offering. Orion Securities Inc. acted as the sole underwriter for the offering.

Crystallex plans to use the net proceeds from the financing to develop the Las Cristinas Project including both expenditures under the Engineering, Procurement and Construction Management contract and ongoing administrative expenses such as site security, legal and consulting fees, ongoing camp costs and community projects, to repay a portion of existing indebtedness and for general corporate purposes.

This press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements.

About Crystallex

Crystallex International Corporation is a Canadian gold producer with operations and exploration properties in Venezuela. Crystallex's principal asset is its interest in the Las Cristinas property in Bolivar State that is currently under development. Other assets include the Tomi Mine, certain Lo Increible properties and the Revemin Mill. Crystallex shares trade on the TSX (symbol: KRY) and AMEX (symbol: KRY).

The Toronto Stock Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release.

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