Las Cristinas goldmine operator Crystallex files year end results with gold production of 94,623 ounces

<a href=www.vheadline.com>Venezuela's Electronic News Posted: Tuesday, May 20, 2003 By: David Coleman

Las Cristinas goldmine operator Crystallex International (KRY) has filed year end 2002 results which show gold production of 94,623 ounces at a cash cost of US$269 per ounce and a net loss for the year of Can$39.8 million, including non-cash items (i) mineral property writedowns of C$2.1 million, (ii) non-hedge derivative loss of C$17.8 million and (iii) amortization and depletion C$12.3 million.

The year's highlights are detailed as the Las Cristinas mining operation contract signed with independent proven and probable estimate of reserves at 9.5 million troy ounces of gold ... Crystallex’s gold reserves now place it as the 5th largest North American gold companies.

With the Las Cristinas feasibility study and metallurgical test work underway the 2001 and 2000 results restated resulting primarily from mineral property writedowns and management team expanded and head office relocated to Toronto (Canada).