Centerra Gold Comments on Market Speculation

TORONTO, April 24, 2018 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (TSX:CG) (“Centerra”) comments on a news release issued today by Chaarat Gold Holdings Limited (“Chaarat”).

In March 2018, Centerra received an unsolicited, non-binding proposal from Chaarat concerning Centerra’s Kumtor Mine located in the Kyrgyz Republic.  Centerra promptly communicated to Chaarat’s advisers that it has no interest in the transaction proposed by Chaarat.  In recent meetings with the Kyrgyz Republic Government, senior Kyrgyz Republic officials have confirmed to Centerra that the Government is also not interested in pursuing the transaction proposed by Chaarat.

Centerra notes that the Kumtor Mine is directly held through Centerra’s wholly-owned, direct subsidiary, Kumtor Gold Company CJSC, and the transaction proposed by Chaarat could not occur without the participation of both Centerra and the Kyrgyz Republic Government.

About Centerra
Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide.  Centerra operates two flagship assets, the Kumtor Mine in the Kyrgyz Republic and the Mount Milligan Mine in British Columbia, Canada and is the largest Western-based gold producer in Central Asia.  Centerra's shares trade on the Toronto Stock Exchange (TSX) under the symbol CG.  The Company is based in Toronto, Ontario, Canada.

For more information:

John W. Pearson
Vice President, Investor Relations
(416) 204-1953
john.pearson@centerragold.com

Additional information on Centerra is available on the Company’s web site at www.centerragold.com and at SEDAR at www.sedar.com.