Vannessa responds to Crystallex Newsrelease of April 11, 2003.
<a href=new.stockwatch.com>StockWatch 2003-04-15 22:54 ET - News Release
VANCOUVER, April 15 /PRNewswire-FirstCall/ -- Vannessa is working diligently towards clearing up the legal entanglements of the Las Cristinas Concession and is again forced to comment on statements released by Crystallex which give the impression that the issue of Las Cristina's "Operational Rights" is settled and final and that Crystallex has secured final and binding rights over the deposit.
The following Crystallex statement is quoted from their latest newsrelease:
"Crystallex International Corporation dismissed as self-serving the allegations contained in Vannessa Ventures April 8, 2003 press release. Crystallex's Mining Operation Contract is a final and binding agreement based on the authority and the laws of the Republic of Venezuela and is not open to discussion."
For your information, please review the following publication made by the courts (after Crystallex objected to MINCA's court challenge against the validity of the CVG/Crystallex contract) in the Data Information Bank of the Supreme Court of Venezuela, Sala Politica Administrativa, on MARCH 27, 2003:
Dicisiones dictadas en:68.AA 40-a-2002-00/040: (Translation):
"It is hereby declared, that the application for inadmissibility presented by representatives of the company "Crystallex International Corporation" (CRYSTALLEX) will not proceed and consequently, the legal action is admitted, thus summoning the Corporacion Venezolana de Guyana in the person of its President, citizen Francisco Rangel Gomez and the company Crystallex International Corporation (CRYSTALLEX) in the person of its President, citizen Marc J. Oppenheimer. To serve the summons to the Corporacion Venezolana de Guyana (CVG), it was agreed to commission the First Tribunal of the District of Caroni in the Second Circuit of the Judicial Circonscripcion of Bolivar State."
The Crystallex newsrelease also states: "that the Republic of Venezuela fully supports Crystallex in regards to the Las Cristinas Mining Operation Contract". The company refers to support by the President of the CVG, who signed the Contract, and several members of congress who have traditionally supported Crystallex in its efforts to gain control of Las Cristinas.
Other members of congress however have taken offense to these earlier statements of support and have declared that those members are presenting there own, personal opinion and not the opinion of the Republic nor are they officially authorized to do so.
Quote from the Venezuelan Daily NUEVA PRENSA published on October 23 2002:
"Delegate Mora said, that the statement made by Deputy Luis Salas, president of the Mines and Energy Committee of the General Assembly, on the support offered Crystallex by this institution to develop and operate the gold mines of Las Cristinas in the State of Bolivar, was absolutely false.
"It was unanimously resolved in the National Assembly to reopen the case of Las Cristinas in two separate sessions, starting an investigation to establish why the contract with the previous holder of the contract had been terminated.
He also stated that the exploitation of the Las Cristinas could not be arbitrarily assigned, since it must be done through a bidding process.
Vannessa Ventures Ltd.
CONTACT: Phone Investors Relations, Vannessa Ventures Ltd., 1-888-339-6339