Crystallex International executives presented details of the company's Venezuelan operations

VHeadline Venezuela News reports: In a special presentation at the Denver Gold Show tonight, Crystallex International executives presented details of the company's Venezuelan operations, including progress at the Las Cristinas gold mine in southeastern Bolivar State.

VHeadline here presents some of the slides from the presentation along with accompanying detail:

Las Cristinas permitting milestones

• September 2002 - Crystallex Signs Las Cristinas Mining Operating Contract (“MOC”)
  
• March 2004 - CVG Approves Las Cristinas Feasibility Study
  
• April 2004 - Submitted Las Cristinas Environmental Impact Study (“EIS”)
  
• March 2006 - Ministry of Mines (“MIBAM”) approval of Feasibility Study
  
• June 2007 - Ministry of Environment and Natural Resources (“MinAmb”) approval of the EIS
  
• Crystallex posts Bond and pays Taxes to MinAmb, receives confirmation that all
  permit requirements have been fulfilled

• April 2008 - MinAmb Director General denies issuance of Las Cristinas permit
  
• June 2008 - MinAmb instructed by Government to begin discussions with Crystallex regarding permitting
  
• August 2008 - Crystallex submits report to MinAmb regarding modifications for permitting consideration
  
• - MinAmb officials visit Las Cristinas project, local communities and Las
  Cristinas social programs
  
• - Crystallex receives formal letter from Vice-Minister of MinAmb confirming that modifications conform to all Government environmental and social guidelines

Modifications Accepted by MinAmb (Aug ’08):

• Open pit mining represents the only viable mining method
• Additional reforestation programs
• Phased development and reclamation of the tailings management facility
• Concurrent clean-up of areas impacted by illegal mining activities
• Design transportation system for local communities
• Assist in formation of local water company
• Design plan for promotion of tourism in area

Corporate & Social Responsibility

• Supporting local communities with long-term employment, training, education, economic development, local infrastructure and health care
• Constructed 30 new homes for local residents
• Installed 3 water treatment plants
• Established anti-malaria facility
• Installed sewer networks
• Paved local roads
• Upgraded local medical center, providing staff, and ongoing medical supplies for the center
• Constructing new medical clinic and sewage treatment plant – due to be completed early 2009
• Funding local education scholarship and internship programs
• Providing ongoing job training programs to small miners’ associations

Las Cristinas mine reclamation and revegetation programs

• Native plant nursery on site
• Test plots for reforestation underway
• Concurrent reclamation during operations

Key Investment Considerations

• Crystallex has been developing gold mining projects in Venezuela since the early 1990s (Albino, Tomi, La Victoria)
• Las Cristinas is one of the World’s largest undeveloped gold deposits
• Venezuela has excellent infrastructure (highways, ports, airstrips, accessibility to power, low energy costs)
• Strong community support; local, regional and national government support
• Long history of gold mining in the region
• Large labor pool eager for work
• Project at advanced stage of development with considerable expansion potential