* The Asian company will have a greater weight in the strategic union

* The proven and probable reserves of the Cristinas are considered in 16,86 million ounces of gold.

Crystallex International Corporation announced east Monday the company/signature in an agreement with China Railway Resources Group Co. Ltd. (CRRC) to create a strategic association for the development of the auriferous project the Cristinas to the south of the state Bolivar.

The alliance will be with the branch China Railway Engineering Corporation (CREC), the greater company of engineering and one of the 150 greater companies of the world. It is of state property with the majority of his actions in the power of the People's Republic of China, in agreement with the official notice published in the vestibule Web of Crystallex miner.

CRRC and Crystallex have met with the Venezuelan Government to present to them this association strategic and “they are working closely with Venezuelan civil servants to obtain the required approvals and permissions to put to produce the Cristinas. The advantage of the Cristinas will especially benefit to all the interested and the town from Venezuela, in particular in the state Bolivar”.

China leads
The Chinese company leads the efforts of the association strategic to unblock the suspended process of environmental permissions Them Cristinas and to provide the capital necessary to develop the project.

Crystallex will have a participation of a third in the project, whereas the greater weight falls to CRRC with two thirds of the project.

Crystallex will contribute to the contract of operation of the mine the Cristinas, the study of viability, the design and engineering already realised, among others active. CRRC will provide the construction necessary and capital to finance the development and will be responsible for the construction of the project, informed the miner.

In addition, it will help Crystallex CRRC to fulfill obligations pending; it will provide a construction guarantee, and has decided to realise a capital investment in Crystallex after the closing of the operations.

It is hoped to sign the final agreement before the 30 of July 2010.

The Chinese company is constructing at the moment a railway project that unites to the Cojedes state with Anzoátegui, and indeed in the month of May a delegation of the Asian country had realised a route by the mining zones of the state Bolivar, showing its interest to invest in the auriferous operation. (MRC)