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Centerra Gold Announces Suspension of Gold Drever Production at Öksüt Mine, Canadian Business Journal

Toronto, March 18, 2022 (GLOBE NEWSWIRE) — Centerra Gold Inc. (“Centerra” or “Company”) (TSX: CG) (NYSE: CGAU) today announced that it has temporarily suspended production of gold drevers at the Öksüt mine. Mercury was detected in the gold chamber of the absorption / desorption recovery (“ADR”) plant.

Centerra has taken some initial steps, including cleaning mercury from affected areas, reducing and preventing exposure, implementing the necessary safety protocols and protective equipment, and taking the necessary regulatory reporting measures. By the way. The company is also evaluating several potential technical solutions for removing mercury in the gold recovery process, including the retort and scrubbing system of the ADR plant before resuming production.

Despite the temporary outage, the Öksüt mine continues to mine ore, stack it on leachate pads and process it into gold in carbon within the ADR plant. Gold in carbon is stockpiled until the electrowinning process, where gold is recovered from the concentrated solution, is resumed.

We are assessing the impact on the 2022 guidance and note that by March 17, the Öksüt mine had produced and sold over 54,000 gold ounces.

After a thorough review, Centerra will soon provide an update.

Precautions regarding future prospects
The information contained in this document, which is not a statement of historical facts, may be “forward-looking information” within the meaning of the Private Securities Litigation Reform Act of 1995 for the purposes of the Securities Act of Canada. There is sex. Information about this future outlook carries risks. Uncertainty and other factors can cause actual results, performance, outlook, and opportunities to differ materially from those expressed or implied by such forward-looking information. “Believe”, “Expect”, “Expect”, “Think”, “Plan”, “Potential”, “Intention”, “Continue”, “Budget”, “Estimate”, ” Expressions such as “may”, “do”, “schedule”, and “understanding” identify information about the future outlook. These forward-looking statements include, among other things, potential solutions for processing mercury in the oxut mine gold processing facility, evaluation of solutions for processing mercury in the ADR plant, and production of the oxut mine. Impact, continuous mining, stacking, and processing operations, timeline for resuming gold bar production, impact of 2022 guidance, and future gold production.

Information about the future outlook, which is considered reasonable by Centerra, is subject to inherently significant political, business, technical, economic and competitive uncertainties and contingencies. It is based on many estimates and assumptions. Due to known and unknown factors, actual results may differ materially from those predicted in the forward-looking information. Factors and assumptions that may cause actual results or events to differ materially from current expectations include, among other things, uncertainty about the cause of the presence of mercury in ADR plants, solutions for removing mercury from gold recovery processes. Includes effectiveness or timeliness. Our ability to mitigate or prevent the effects of mercury exposure, or regulatory measures or scrutiny, will curb, delay or incur additional costs for the gold recovery process or other businesses of the Öksüt mine. For other risk factors, see the section entitled “Risk Factors” in our recently submitted annual information form available at SEDAR (www.sedar.com) and EDGAR www.sec.gov/edgar. please.

Due to many known and unknown factors and future events, actual results, performance, or outcomes may be expressed or implied by such forward-looking statements contained in this document or incorporated by reference. May be implied. Therefore, all of these factors should be carefully considered when making decisions about Centerra. Also, future investors should not be overly dependent on information about future prospects. Forward-looking information is current as of March 18, 2022. Centerra is forward-looking information in order to reflect changes in assumptions, changes in circumstances, or other events that affect such forward-looking information, except as required by applicable law. We do not undertake any obligation to update or revise. ..

About Centerra Gold
Centerra Gold Inc. is a Canada-based gold mining company focused on managing, developing, researching and acquiring gold assets in North America, Turkey and other global markets. Centerra operates two mines, the Mount Milligan mine in British Columbia, Canada and the Öksüt mine in Turkey. We own a Kumtor mine in the Republic of Kyrgyzstan, but it is no longer under our control. We also own the Goldfield District Project in Nevada, USA, the Kemess Underground Project in British Columbia, Canada, and own and operate the Molybdenum Business Unit in the United States. Centerra shares are traded on the Toronto Stock Exchange (“TSX”) under the CG symbol and on the New York Stock Exchange (“NYSE”) under the CGAU symbol. The company is based in Toronto, Ontario, Canada.

For more information:
Toby Caron
Treasury and Director, for Investors
(416) 204-1694
toby.caron@centerragold.com

Shafrost
Manager, Investor Relations
(416) 204-2159
shae.frosst@centerragold.com

For more information on Centerra, please visit our website. www.centerragold.com And SEDAR www.sedar.com And EDGAR (www.sec.gov/edgar).

The PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/ab1192f7-8015-4900-b588-dbf517553de8.


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Centerra Gold Announces Suspension of Gold Drever Production at Öksüt Mine, Canadian Business Journal

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