Centerra Gold Inc.
TSX : CG

Centerra Gold Inc.

August 19, 2010 21:14 ET

Centerra Gold Appoints New Directors

TORONTO, ONTARIO--(Marketwire - Aug. 19, 2010) - Centerra Gold Inc. (TSX:CG) is pleased to announce the appointment of Mr. Amandgeldy Muraliev, Mr. Karybek Ibraev, and Mr. Raphael Girard to its Board of Directors. Centerra also announces the resignation of Mr. William Braithwaite from its Board of Directors. Following these changes to the Board of Directors, Centerra's Board will be comprised of eleven members. 

Mr. Raphael Girard has been appointed to Centerra's Board of Directors to replace William Braithwaite who resigned from the Board effective today. Mr. Girard is a public policy and international business consultant who retired from the Department of Foreign Affairs in August 2003. Prior to his retirement, Mr. Girard was the Canadian Ambassador to Romania, and earlier to the Federal Republic of Yugoslavia. Mr. Girard was a member of the Board of Directors of Gabriel Resources Ltd. from 2005 to 2010. Mr. Girard received his Bachelor of Arts degree from the University of British Columbia. 

Mr. Amandgeldy Muraliev and Mr. Karybek Ibraev are the Board representatives of Kyrgyzaltyn JSC, Centerra's largest shareholder. Pursuant to a Restated Shareholders Agreement dated as of June 6, 2009 entered into by Kyrgyzaltyn and Centerra, so long as Kyrgyzaltyn and its affiliates own 10% or more of Centerra's outstanding shares, Centerra has agreed to include in Centerra's proposed slate of directors to be nominated for election at each annual or special meeting where directors are to be elected, two Board nominees designated by Kyrgyzaltyn, at least one of whom must be independent of the Kyrgyz Government. At the time of Centerra's annual meeting of shareholders in May 2010, the Kyrgyz Government nominees were not identified, and accordingly the two board positions remained vacant until their identities were communicated to Centerra. 

Mr. Muraliev, a Kyrgyz citizen, has extensive experience in politics, including being the Prime Minister of the Kyrgyz Republic from 1999 to 2000, and later being a member and advisor to the Ministry of Economic Development and Trade of the Kyrgyz Government. Currently, Mr. Muraliev is the First Vice Prime Minister of the Interim Government of the Kyrgyz Republic, and the Chairman of the Board of Directors of Kyrgyzaltyn. Mr. Muraliev received degrees from the Academy of National Economy under the USSR Council of Ministers and the Frunze Polytechnic Institute. 

Mr. Ibraev, a Kyrgyz citizen, has extensive experience in the mining industry. Currently, Mr. Ibraev is a consultant with the Extractive Industries Transparency Initiative (EITI) Secretariat in the Kyrgyz Republic. Mr. Ibraev is also a former executive director of the Kyrgyz Mining Association. Mr. Ibraev is a member of the Kyrgyz Mining Association and received degrees from the L'Ecole de Mine de Paris, and the Moscow Geological Exploration Institute. In accordance with the Restated Shareholders Agreement, Mr. Ibraev is independent from the Kyrgyz Government. 

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
    Office - 416-204-1241
    www.centerragold.com