Crystallex International Corporation

Crystallex International Corporation

March 15, 2007 16:26 ET

Crystallex to Appoint Hemdat Sawh as CFO

TORONTO, ONTARIO--(CCNMatthews - March 15, 2007) - Crystallex International Corporation (TSX:KRY)(AMEX:KRY) announced today that Hemdat Sawh, M.B.A., C.A., B.Sc.(Geology), has accepted the position as Chief Financial Officer of the Company effective upon the departure of Dan Hamilton. Mr. Hamilton's role and responsibilities as Crystallex CFO will end on March 31, 2007 following the completion of the Company's 2006 year end audit and regulatory filings. Mr. Hamilton has agreed to provide consulting and transition services to Crystallex during April 2007.

Hemdat Sawh is a Chartered Accountant, and holds an MBA degree in Accounting from York University, a Bachelor of Science degree in Geology from Concordia University and a Graduate Diploma in Geology from McGill University. Mr Sawh has over 16 years of accounting and auditing experience at Grant Thornton LLP, culminating in the position of Principal, where he acted as lead supervisor for auditing teams of businesses with a concentration in publicly-listed mining companies. Most recently Mr. Sawh served as CFO for Goldbelt Resources Ltd.

Gordon Thompson, President and CEO of Crystallex commented that, "We are very pleased Mr. Sawh is joining the Crystallex team as Chief Financial Officer and I look forward to his guidance and the experience he brings to the Company as we move the Las Cristinas project, one of the largest undeveloped gold projects in the world, to commercial production." Mr. Thompson also commented, "I'd like to take the opportunity to thank Dan Hamilton for his contribution to the success of the Company and the time and effort he devoted during his three and a half years with Crystallex. We wish him well."

About Crystallex

Crystallex International Corporation is a Canadian based gold producer with significant operations and exploration properties in Venezuela. The Company's principal asset is the Las Cristinas property in Bolivar State that is currently under development and which is expected to commence commercial gold production in 2009 at an initial annualized rate of some 300,000 ounces at the initial planned production rate of 20,000 tonnes of ore per day. Other key 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) Exchanges.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including: statements relating to the estimated reserves and resources at Las Cristinas; anticipated results of drilling programs, feasibility studies or other analyses; the potential to increase reserves and expand production, at Las Cristinas; Crystallex's projected construction and production schedule, and cost and production estimates, for Las Cristinas; and management's statements regarding its expectations regarding mining in Venezuela. Forward-looking statements are based on estimates and assumptions made by Crystallex in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Crystallex believes are appropriate in the circumstances. Many factors could cause Crystallex's actual results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: gold price volatility; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated reserves, and between actual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; speculative nature of gold exploration; dilution; competition; loss of key employees; additional funding requirements; and defective title to mineral claims or property. These factors and others that could affect Crystallex's forward-looking statements are discussed in greater detail in the section entitled "Risk Factors" in Crystallex's Annual Information Form (which is included in the Annual Report on Form 40-F that Crystallex files with the United States Securities and Exchange Commission (the "SEC") and elsewhere in documents filed from time to time with the Canadian provincial securities regulators, the SEC and other regulatory authorities. These factors should be considered carefully, and persons reviewing this press release should not place undue reliance on forward-looking statements. Crystallex has no intention and undertakes no obligation to update or revise any forward-looking statements in this press release, except as required by law.

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