Crystallex International Corporation

1
Crystallex International Corporation Annual
General Meeting June 22, 2006
2
Disclosure Statement
SPECIAL NOTE REGARDING FORWARD-LOOKING
STATEMENTS This presentation contains
forward-looking statements within the meaning of
the United States Private Securities Litigation
Reform Act of 1995 and applicable Canadian
securities laws, including statements relating
to the estimated reserves and resources at Las
Cristinas the potential to increase reserves and
expand production, at Las Cristinas Crystallex's
projected construction and production schedule,
and cost and production estimates, for Las
Cristinas and management's statements regarding
its expectations regarding mining in Venezuela.
Forward-looking statements are based on estimates
and assumptions made by Crystallex in light of
its experience and perception of historical
trends, current conditions and expected future
developments, as well as other factors that
Crystallex believes are appropriate in the
circumstances. Many factors could cause
Crystallex's actual results, performance or
achievements to differ materially from those
expressed or implied by the forward looking
statements, including gold price volatility
impact of any hedging activities, including
margin limits and margin calls discrepancies
between actual and estimated production, between
actual and estimated reserves, and between actual
and estimated metallurgical recoveries mining
operational risk regulatory restrictions,
including environmental regulatory restrictions
and liability risks of sovereign investment
speculative nature of gold exploration dilution
competition loss of key employees additional
funding requirements and defective title to
mineral claims or property. These factors and
others that could affect Crystallex's
forward-looking statements are discussed in
greater detail in the section entitled "Risk
Factors"  in Crystallexs Annual Information Form
(which is included in the Annual Report on Form
40-F that Crystallex files with the United States
Securities and Exchange Commission (the "SEC"))
and elsewhere in documents filed from time to
time with the Canadian provincial securities
regulators, the SEC and other regulatory
authorities. These factors should be considered
carefully, and persons reviewing this
presentation should not place undue reliance on
forward-looking statements. Crystallex has no
intention and undertakes no obligation to update
or revise any forward-looking statements in this
presentation, except as required by law. NOTE TO
U.S. SHAREHOLDERS The terms "Mineral Reserve",
"Proven Mineral Reserve" and "Probable Mineral
Reserve" used in this presentation are Canadian
mining terms as defined in accordance with
National Instrument 43-101 - Standards of
Disclosure for Mineral Projects under the
guidelines set out in the Canadian Institute of
Mining, Metallurgy and Petroleum ("CIM")
Standards on Mineral Resources and Mineral
Reserves, adopted by the CIM Council on August
20, 2000 as may be amended from time to time by
the CIM.  These definitions differ from the
definitions in the SEC's Industry Guide 7. The
terms "Mineral Resource", "Measured Mineral
Resource", "Indicated Mineral Resource",
"Inferred Mineral Resource" used in this
presentation are Canadian mining terms as defined
in accordance with National Instruction 43-101 -
Standards of Disclosure for Mineral Projects
under the guidelines set out in the CIM
Standards. While the terms "Mineral Resource,
"Measured Mineral Resource", "Indicated Mineral
Resource", and "Inferred Mineral Resource" are
recognized and required by Canadian regulations,
they are not defined terms under Industry Guide 7
and normally are not permitted to be used in
reports and registration statements filed with
the SEC.  As such, information contained in this
report concerning descriptions of mineralization
and resources under Canadian standards may not be
comparable to similar information made public by
U.S companies in SEC filings.  With respect to
"Indicated Mineral Resource" and "Inferred
Mineral Resource" there is a great amount of
uncertainty as to their existence and a great
uncertainty as to their economic and legal
feasibility.  It can not be assumed that all or
any part of an "indicated mineral resource" or
"Inferred Mineral Resource" will ever be upgraded
to a higher category.  Investors are cautioned
not to assume that any part or all of mineral
deposits in these categories will ever be
converted into reserves. For a detailed
discussion of resource and reserve estimates and
related matters see the Company's technical
reports, the Annual Information Form and other
reports filed by the Crystallex on www.sedar.com
and www.sec.gov. A qualified person has verified
the data contained in this presentation.
3
Profile Investment Highlights

• Developing intermediate Canadian gold mine
  developer and operator
• Las Cristinas reserves of 13.6 million ounces
  calculated at 400/oz. Excellent potential to
  increase reserves
• Engineering and procurement for the Las
  Cristinas project in Venezuela is well underway
  awaiting final permit to commence construction
• Gold production at Las Cristinas projected mid
  2008
• Hedge free
• Significantly undervalued relative to peer
  group on the basis of proven and probable
  reserves
• Good share trading liquidity on TSX and AMEX

4
Crystallexs History in Venezuela

• Investor in mining projects since early 1990s
• Crystallex has permitted, constructed and
  operated 3 mines in Venezuela since early 1990s
• Las Cristinas is the 4th gold mine under
  development by Crystallex in Venezuela
• 2004 Crystallex received the Outstanding
  Citizen Award in Bolivar State for its community
  programs

5
Why invest in Venezuela Las Cristinas
Reserves Resources (CIM Standards)

• Gold Price US400/oz, cut-off 0.5 g/t and higher
• Low Strip Ratio of 1.11
• 390m maximum depth

• Expected average metallurgical recovery of 89
• Open at depth
• Other mineralized zones not yet drilled

Includes Reserves Reserves and Resources
calculated by Mine Development and Associates in
accordance with Canadian NI 43-101
6
Why invest in Venezuela Las Cristinas
Reserve Sensitivities
These estimates only capture gold contained
in the pit designed using a US350 per ounce gold
price through the conversion of waste blocks
located within the design pit shell into economic
ore reserves due to the higher gold price.
Reserves and Resources calculated by Mine
Development and Associates in accordance with
Canadian NI 43-101
7
Why invest in Venezuela Las Cristinas
Production Overview 20,000 tonnes per day
Based upon August 2005 Development Plan
capital and operating cost estimates,12.5 million
ounce reserve and the current mine
plan. Includes a 3 exploitation tax and 3
royalty payable to the CVG based on a US400/oz
gold price
8
Why invest in Venezuela Las Cristinas
Engineering Procurement Progress

• Engineering essentially complete
• 146 Equipment orders placed All Long Lead
  Items secured
• 10 Construction Contracts awarded Structured
  Steel, Ancillary Buildings, Power Line, etc
• 19 Service Contracts awarded Catering and
  Communications
• Commitments to date US186 million, including
  expenditures of US106 million
• 19km access road upgraded and in use
• Construction camp refurbished
• Airstrip extended to 1,000m and tarred

9
Why invest in Venezuela Las Cristinas
Las Cristinas Mining Fleet on Docks Geared Up and
Ready To Go
10
Why invest in Venezuela Las Cristinas

• Las Cristinas Mining Fleet on Docks Geared Up and
  Ready To Be Shipped
• Terex Excavators and Cranes

11
Las Cristinas Mill
Dorbyl Mill Shells Nearing Manufacturing
Completion
12
Las Cristinas Control Schedule
The timing of this schedule assumes the issuance
of the environmental permit from MARN by Q3 2006
13
Why invest in Venezuela Las Cristinas
Expansion Opportunity

• Opportunity for expansion to 40,000 tonnes per
  day
• 20,000 tpd Process Plant designed for expansion
• Infrastructure sufficient for expansion
• Pre-Feasibility Study completed
• If expanded to 40,000 tpd, should produce
  approximately 500,000 ounces per year
• Life of Mine average cost per ounce 215
• (includes royalties based on a gold price of
  400/oz)
• 23 year mine life
• Incremental Capital 153 million

14
Why Invest in Venezuela Infrastructure Energy
Bolivar State, Venezuela
15
Why Invest in Venezuela
Infrastructure Energy

• Accessibility
• Main paved highway between Puerto Ordaz and
  Brazil
• Deep Water Port Access Puerto Ordaz
• Airstrip on site 1,000m tarred

• Low Fuel Costs
• 5 cents USD per litre (20 cents per gallon)

• Skilled Workforce
• Experienced Labor Force in Bolivar State

• Low Power Costs
• Hydro-electricity
• Substation 6 km from site
• 300MW capacity 100MW current draw
• 3.2 cents USD per KW hour avg. over 10 years in
  2005 money terms

• Community Support
• Local community eager for employment opportunity

16
Why NOT TO invest in Venezuela
Media Misrepresentation Venezuelan Agenda to
Nationalise Mining Industry
September 20th, 2005 Dow Jones
Newswires Venezuela Chavez Las Cristinas
Mine Belongs to Venezuela September 21st, 2005 -
Dow Jones Newswires Crystallex-Run Mine
Belongs to Venezuela Chavez September 22nd,
2005 Dow Jones Newswires Venezuelas
Chavez Cancels all Mining Concessions June 12th,
2006 Bloomberg News Venezuela to Seek
Majority Stake in Mine Ventures June 16th, 2006
Dow Jones Newswires Venezuela
Government to Seize Unproductive Mines
17
Media Misrepresentation
Venezuelan Agenda to Drive Foreign Investors Out
Example of Media Sensationalism
September 20th, 2005 Dow Jones
Newswires If they dont like Venezuelas
model, foreign investors can pack up and leaveWe
dont need them Chavez said. September 20th,
2005 Chavez said Those foreign
investors that dont want to pay taxes, dont
want to obey the law of the land and dont want
to operate in a socially responsible manner, if
they dont like Venezuelas model, foreign
investors can pack up and leavewe dont need
them.
18
Media Misrepresentation
Proposed Changes to the Mining Law
Example of Media Sensationalism

• June 12th, 2006 Bloomberg News
• Venezuela to seek majority stake in mine
  ventures
• There will be possible revisions to the
  Venezuelan mining law, namely the incorporation
  of mixed companies as an exploitation structure
  in the mining sector. The Government stake in
  such mixed companies would be at least 51
• Crystallex would be forced to convert its
  Venezuelan operations into a joint venture

19
Facts

• Crystallex holds a valid and binding operating
  contract issued by the state through the
  Corporacion Venezolana de Guayana ("CVG"), its
  regional natural resource development arm
• The operating contract was officially approved
  and endorsed by the Ministry of Basic Industries
  and Mining ("MIBAM") in March of this year
• The mixed company model under discussion is
  not applicable to the Crystallex Las Cristinas
  Operating Contract
• Draft Mining Law provides express recognition
  of existing contracts which are in compliance and
  in good legal standing

20
Las Cristinas Crystallex Receives MIBAM Approval

• March 26, 2006
• Ministry of Basic Industries and Mining (MIBAM)
  issued MIBAMs official approval for the
  Crystallex Las Cristinas Project.
• Major Milestone
• MIBAMs approval of the Las Cristinas Feasibility
  Study and development plans represent the final
  outstanding external input required by the
  Ministry of the Environment (MARN) to complete
  the permitting process.
• Government of Venezuela officially endorses the
  Las Cristinas Projects technical, economic and
  commercial parameters as per Feasibility Study
  and Operating Contract

21
Las Cristinas National Assembly Resolution

• May 31, 2006
• National Assembly Resolution was passed seeking
  the prompt environmental permit award for the Las
  Cristinas Project
• Permanent Commission of the National Assembly
  petitioned the Minister of the Environment and
  Natural Resources (MARN) in support of
  Crystallex commencing the Las Cristinas project
  as soon as possible
• Deputy Ricardo Gutiérrez, President of the
  Economic Development Commission of the National
  Assembly, had met with the Mayor of Sifontes
  district to express their joint support for the
  rapid commencement of the Las Cristinas project
  by Crystallex. Deputy Gutiérrez also stated that
  he had arranged to meet with the Minister of MARN
  to express his commission's support for the rapid
  development of the Las Cristinas project by
  Crystallex

22
Agreement Contracts in Good Standing will be
Accepted
May 25th, 2006 Marketwatch Minister Alvarez of
the Ministry of Basic Industries and Mining
Concerning the impending release of the draft
revisions to the mining law, the Minister
emphasized that the State will respect those
companies that do their work. June 13th, 2006
The Canadian Press (CP) William Francia, a
spokesman for the Ministry of Basic Industries
and Mining he added, that should not affect
companies which have already negotiated their
contracts" June 14th, 2006 - Venezuela's National
Assembly Website Deputy Luis Gamargo, Vice
President of the Permanent Commission of
Administration and Public Services of the
National Assembly "...On the other hand he
indicated that just as he affirms this position,
it is also fair to give recognition to those
cases of agreements and contracts subscribed with
private companies of diverse participation with
the Nation, and that are carrying out the
development of the projects as provisioned in
their referred agreements "and among those worth
noting, for example are, the Las Cristinas
project, the Camorra mine, Revemin, and
Minerven. June 15th, 2006 Reuters Minster
Alvarez of the Ministry of Basic Industries and
Mining "The proposal (draft Mining Law) says
current contracts can continue working unless
they break the law or their production halts for
more than a year or they fail to pay taxes or do
not comply with social spending requirements
demanded by the government".
23
Actual Government Actions Foreign Investment
September 29th, 2005 BNAmericas CVG,
Australian Company (Inalco) to Build Aluminum
Plant Venezuela October 4th, 2005 Associated
Press Venezuela Gave Licenses Tuesday to Chevron
Corp. And Russian Oil Company OAO
Gazprom October 5th, 2005 Associated Press
Chevron Corp. proposes a New Heavy Oil Project
in Venezuela October 10th, 2005 Special
Committee of Venezuelan National Assembly
calls for Government to grant final permit to
Crystallex for Las Cristinas Project October
31st, 2005 BNAmericas Petro-Canada Sees La
Cieba (Venezuela) Synergies with Montreal
Refinery November 2nd, 2005 Stockwatch Bolivar
Gold announces Gazetting of Approval for
Issuance Of Exploitation Certificates November
3nd, 2005 Stockwatch Mindenao Gold in
negotiations to acquire Gold Mining Interests in
Venezuela
November 15th, 2005 Reuters Venezuela awarded
new contacts and/or leases to Spain's Repsol,
Italy's ENI, Brazil's Petrobras and Japan's
Teikoku November 21st, 2005
Reuters Goldfields acquisition of Bolivar
Gold January 9th, 2006 Stockwatch Valgold
acquires Honngold Corp. principal projects
gold and platinum properties located in Boliar
State, Venezuela March 6th, 2006 Mena Resources
announces 20,000 metres of drilling in El Callao
District March 9th, 2006 Associated
Press PDVSA negotiates US3 billion investment
with Brazilian shipyards March 26th, 2006
Venezuelas MIBAM formally approves technical,
economic and commercial parameters of the Las
Cristinas Gold Project April 2006 Mining
Magazine Venezuela approves a US219 million
contact with the Spanish Company Duro Felguera
for an iron-ore project
24
International Companies Active in Venezuela
25
Other Well Known, Use it or Lose it Investment
Jurisdictions
July 27th, 2005 CBC Business News Premier Danny
Williams of Newfoundland threatened to pull
Abitibi's timber licenses for Crown land if it
downgrades operations in Grand Falls - Windsor
(Canada) October 5th, 2005 Associated Press
Alaskas Oil and Gas Chief Threatens To Yank
North Slope Leases from Oil Companies April
4th, 2006 Globe Mail Newfoundland Premier
Danny Williams on Exxon I am basically saying
Use it or lose it. And if they dont want to
play ball here, Then they should just move on
April 4th, 2006 National Post Premier Danny
Williams Get out of Dodge and go somewhere else.
But give us an opportunity to develop this. We
will take you out. We are going to have to find
a way to legislate you out, because we are not
going to allow a company like ExxonMobil or
anybody else to hold up these reserves
indefinitely. June 14th, 2006 New York
Times Premier Danny Williams Danny Williams may
be a multimillionaire and a member of the
Conservative Party of Canada, but these days he
is being compared to a self- proclaimed
revolutionary, the Venezuelan president, Hugo
Chavez.
26
Risk versus Reward in Venezuela
Crystallex Growth Profile
Gold Production in thousands of ounces
Total Cash Costs of Production (US per ounce)
11 Expanded Case
09 Base Case
05
11 Expanded Case
09 Base Case
05
Base Case - Las Cristinas 20,000 tpd operation
Expanded Case - Las Cristinas 40,000 tpd operation
27
Risk versus Reward in Venezuela
North American Based Gold Companies
Proven and Probable Reserves Net of Recoveries
(million oz)
Newmont
Barrick
CRYSTALLEX
Gabriel
Gold Reserve
Agnico-Eagle
Glamis
Kinross
Eldorado
IAM Gold
Cambior
Bema
Meridian
Source Mineweb June 21, 2006
28
Risk versus Reward in Venezuela
Unlocking the Value of Las Cristinas
Market Capitalization per Reserve Ounce (US) Net
of Recoveries
This reflects the acquisition by GFI when
gold was trading around 500/oz
Source Mineweb June 21, 2006
29
18 King Street East, Suite 1210 Toronto, ON M5C
1C4 Tel [phone] Fax (416)
203-0099 Email info_at_crystallex.com Website
www.crystallex.com
Todd Bruce, President CEO Daniel Hamilton,
Chief Financial Officer
For public and media inquiries, or copies of the
Companys annual report, quarterly reports or
press releases, please contact Richard
Marshall Vice President, Investor Relations Tel
[phone]
Crystallex shares trade under the symbol KRY on
the Toronto and American Stock Exchanges. The
Companys filings with the Ontario Securities
Commission can be viewed on SEDAR at
www.sedar.com The Companys filings with the U.S.
Securities and Exchange Commission can be viewed
on EDGAR at www.sec.gov