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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Richards comments on Latest Bloomberg report

Richards comments on Latest Bloomberg report

posted on Mar 06, 2008 04:32AM
From: Richard Marshall

Sent: Thursday, March 06, 2008 6:53 AM

To: 'xxxx'

Subject: RE: Bloomberg again

Hi xxxx, Nothing has changed with our position or expectation. We have been advised in all meetings with Officials that the requirements for the issuance of the Las Cristinas environmental permit have been fulfilled and that it's a matter of time for the permit being issued. Clearly, we have expected a more timely issuance process since the approval of the EIS last summer and the payment of the Bond and Environmental Taxes. We believe their attention (or that of the Minister at MinAmb) has been on other unrelated issues and Las Cristinas and other Bolivar State Projects have not been high on the agenda. We hope that Minister Sanz, who has been appointed Minister of MIBAM and President of CVG, will elevate these projects and the Bolivar State Agenda at the National Level. We expect the Permit to be issued and believe it's a matter of time.

The tensions between Venezuela and Columbia are on the Venezuelan/Columbian border and our interests are on the other side of Venezuela closer to the Guyana and Brazilian borders. Clearly it's something we watch closely and hope relations will improve in the near term.

Regards,

Richard Marshall

-----Original Message-----

From: xxxx[mailto:xxxx@telusplanet.net]

Sent: Wednesday, March 05, 2008 9:58 PM

To: Richard Marshall

Subject: Bloomberg again

Hi Richard,

I see that Bloomberg is reporting that Crystallex is stating that only Chavez can issue the permit. Can you comment on accuracy of this report and whether there is any truth to it? I have attached a portion of the article below.

Also, do you see the recent military conflict unfolding in VZ as concern to Crystallex in any way shape or form?

Thanks

Bloomberg article:

Crystallex International Corp

Crystallex Says Only Chavez Can Permit New Gold Mine (Update2)

By Stewart Bailey

March 5 (Bloomberg) -- Crystallex International Corp., the Canadian miner awaiting approval to develop Venezuela's biggest gold mine, said only President Hugo Chavez can award the permits needed to proceed with Las Cristinas.

The process has stalled in the office of Environment Minister Yubiri Ortega, who opposes international companies extracting Venezuela's resources, Crystallex Chief Executive Officer Gordon Thompson said yesterday. The company hopes that Rodolfo Sanz, the new minister of basic industries and mining, will intervene on Crystallex's behalf, Thompson said.

Sanz ``has to satisfy himself that there is no political liability,'' Thompson said in an interview in Toronto, where his company is based. ``Our view is that he'll walk into Chavez's office and say, `Issue it.'''

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