Centerra Gold Inc.
TSX : CG

Centerra Gold Inc.

December 30, 2009 09:21 ET

Centerra Gold Appoints New Directors

TORONTO, ONTARIO--(Marketwire - Dec. 30, 2009) - Centerra Gold Inc. (TSX:CG) is pleased to announce the appointment of John W. Lill, Aleksei A. Eliseev and Iurii I. Kosvin to strengthen its Board of Directors, expanding the Board to eleven members. The appointments follow the completion of the secondary offering pursuant to which 88,618,472 Centerra common shares held by Cameco Corporation were distributed along with the transfer by Cameco of 25,300,000 common shares to be released from custodial arrangements to Kyrgyzaltyn JSC.

Mr. Lill has been appointed to Centerra's Board of Directors to replace O. Kim Goheen who upon completion of the offering stepped down from the Board. Mr. Lill has more than 30 years experience in the mining industry in both operating and senior executive roles. Over Mr. Lill's career he has held leadership roles with overall responsibility, at various times, for more than twenty different major mines representing some of the world's largest and most efficient mining and processing operations. Most recently he served as President and CEO of FNX Mining Company of Toronto, Ontario. He has a B.Sc.(Hons) Mining Engineering degree from Queen's University and is a professional engineer registered with the Ontario Professional Engineers and APEGGA (Alberta).

Mr. Eliseev is being appointed to Centerra's Board of Directors as one of the Government of the Kyrgyz Republic's representatives and is a replacement for current Board member Almazbek S. Djakypov who has resigned. Mr. Eliseev, a Kyrgyz citizen, has extensive experience in senior management positions in the banking and legal industry. He is a lawyer and currently is Chairman of the Board of Directors of Kyrgyzaltyn JSC, Centerra's largest individual shareholder, and Deputy Chairman of the Central Agency for Development, Investment and Innovation of Kyrgyz Republic, a state agency responsible for coordinating the Government's initiatives and strategy for the economic development of the Kyrgyz Republic. Additionally, Mr. Eliseev serves as Managing Director on behalf of the Kyrgyz Republic, for the European Bank for Reconstruction and Development. Mr. Eliseev received a Law Degree from the Kyrgyz-Russian Slavic University in July 1998.

Mr. Kosvin is the Kyrgyz Government's second representative on Centerra's Board of Directors and in accordance with the Restated Shareholders Agreement among Centerra and Kyrgyzaltyn dated June 6, 2009; he is independent of the Kyrgyz Government. Mr. Kosvin, a citizen of the Ukraine, is a businessman based in Kyiv, Ukraine. Mr. Kosvin has extensive business experience and studied engineering at the Kyiv Polytechnic Institute, Ukraine.

About Centerra

Centerra is a growth-oriented, gold Company focused on acquiring, exploring, developing and operating gold properties primarily in Asia, the former Soviet Union and other emerging markets worldwide. Centerra is a leading North American-based gold producer and the largest Western-based gold producer in Central Asia and the former Soviet Union. Centerra's shares trade on the Toronto Stock Exchange under the symbol CG. The Company is based in Toronto, Canada.

Additional information

Additional information on Centerra is available on SEDAR at www.sedar.com and the Company's website at www.centerragold.com.

Contact Information

  • Centerra Gold Inc.
    John W. Pearson
    Vice President, Investor Relations
    416-204-1241
    www.centerragold.com