VANCOUVER - Robert A. Fung, Chairman of Crystallex International Corporation (KRY on TSE and AMEX ) announced today that Daniel R. Ross will join the firm as Executive Vice-President, Corporate Counsel and Secretary.
Mr. Ross has been a member of the Board of Directors of Crystallex since 1996. He is currently a Partner with McCarthy Tetrault, one of Canada's largest law firms, where he specializes in Business and Corporate law. Mr. Ross will make the transition to his new position with Crystallex during the next two months. He will continue to serve on the Board.
Over the past three years, Mr. Ross was instrumental in the negotiation and completion of Crystallex's mining acquisitions which include San Gregorio in Uruguay and the Tomi Mine, Revemin Mill and Lo Increible Project in Venezuela's Bolivar State.
"We're extremely pleased that Dan is joining our management team," Crystallex President and Chief Executive Officer, Marc Oppenheimer said. "With nearly six years on the Board, Dan has a thorough understanding of Crystallex and its expanding position in the international mining industry.
"His impeccable credentials, business background, and lengthy experience in the area of Corporate Law combined with an excellent grounding in mining industry issues, will provide a great benefit to Crystallex and its shareholders as we continue to execute our growth strategy," Mr. Oppenheimer added.
Last week, at the Crystallex Annual General Meeting, Mr. Oppenheimer told shareholders the Company was maintaining its strong revenue and cash flow growth despite the difficult gold market. He said the Company's production profile is lifting Crystallex into the ranks of intermediate gold producers, as it remains focused on Venezuela, the site of one of the largest gold deposits in the world.
About Crystallex Crystallex International Corporation is a gold mining and exploration company. The Company's strategy for growth is to develop its portfolio of properties in South America as well as to diversify geographically by investing in producing or near production projects and by exploring properties of merit in other areas of the world.
About Daniel Ross: Mr. Ross serves on numerous boards including the London Health Sciences Centre, London Health Sciences Centre Research Institute, Ivey Management Services and the Richard Ivey School of Business Foundation. He also served as Commissioner of the Ontario Health Services Restructuring Commission from 1996 to 2000. Mr. Ross has been the recipient of numerous awards and recognitions.
Note: This news release may contain certain "forward-looking statements" within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Crystallex, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" and elsewhere in documents filed from time to time with The Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Contact: A Richard Marshall, VP at (201) 541-6650 ext. 26 or Andrea Boltz at (604) 683-0672. To receive previous Company releases: (800) 758-5804 ext.114620
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