TORONTO, CANADA – August 26, 2019 – Centerra Gold Inc. (“Centerra”) (TSX: CG) announced today that, the remaining Kyrgyz legal proceedings affecting the Kumtor Project and the international arbitration proceeding at the Permanent Court of Arbitration have been terminated, in accordance with the Strategic Agreement on Environmental Protection and Investment Promotion (“Strategic Agreement”) previously entered into with the Government of the Kyrgyz Republic (the “Government”). Accordingly, the parties have achieved Second Completion under the Strategic Agreement. As a result, all obligations under the Strategic Agreement, including the settlement and releases of liability as well as the obligations of Kumtor Gold Company to make contributions to various environmental and social funds of the Kyrgyz Republic Government, have become effective.
Scott Perry, Centerra Gold’s President and Chief Executive Officer stated, “The completion of the Strategic Agreement solidifies our strong relationship with the Government of the Kyrgyz Republic and marks another turning point in the history of the Kumtor Project. The certainty brought by the Strategic Agreement will allow us to continue working to expand the Kumtor’s Project’s reserves and resources, extend the life of the mine, improve its efficiency and profitability, strengthen our commitment to social programs and to protect the environment for the mutual benefit of Centerra and the Kyrgyz Republic.”
For further details regarding the terms and conditions of the Strategic Agreement and related arrangements, please refer to the full text of the Strategic Agreement which has been filed on SEDAR as well as the Company’s news releases dated September 11, 2017 and August 7, 2019 and Centerra’s Annual Information Form dated March 21, 2019.
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 and is the largest Western-based gold producer in Central Asia. Centerra operates two flagship assets, the Kumtor Mine in the Kyrgyz Republic and the Mount Milligan Mine in British Columbia, Canada and is building its next gold mine, the 100% owned Öksüt Gold Mine in Turkey. 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
Additional information on Centerra is available on its web site at www.centerragold.com and at SEDAR at www.sedar.com.