TORONTO, CANADA – October 3, 2011 – Centerra Gold Inc. (TSX: CG) is pleased to announce it has become a Supporting Company of the Extractive Industries Transparency Initiative (“EITI”). The EITI is an international non-profit organization launched in 2002 at the World Summit for Sustainable Development in South Africa. It is a coalition of governments, companies, civil society, investors and international organizations.
The EITI contributes to improved governance in resource-rich countries through the verification and publication of all company payments to governments as well as government-reported revenues from oil, gas and mining. The EITI standard is implemented by signatory governments with an international multi-stakeholder structure at the core of the initiative. Currently, sixty of the largest oil, gas and mining companies have become EITI supporting companies. The EITI’s initiatives aim for good governance so that the extraction and processing of resources can generate revenues that foster growth and reduce poverty.
Centerra has played an active role in promoting the EITI in the Kyrgyz Republic and Mongolia. The Company’s mines in these countries were among the first to sign on, report and help improve EITI infrastructure in their respective countries. For more information on Centerra’s Kumtor submissions as part of the annual Kyrgyz Republic EITI report visit http://eiti.org/KyrgyzRepublic. For Centerra’s Boroo Gold audited submissions to the Mongolian EITI report visit http://eitimongolia.mn.