Centerra Gold Inc.
TSX : CG

Centerra Gold Inc.

June 17, 2009 09:28 ET

Centerra Gold Boroo Mine Strike Ends

TORONTO, ONTARIO--(Marketwire - June 17, 2009) - Centerra Gold Inc. (TSX:CG) announced today that the labour dispute with the Boroo Trade Union was settled on June 16, 2009. The key terms of the settlement provide enhanced future redundancy benefits to permanent employees. The Company believes the settlement will not have a material impact on future cash costs. On June 16, 2009 the Parties officially signed a Settlement Agreement as well as the amendments to the Collective Agreement.

Boroo's operating licenses remain suspended, as disclosed on June 12, 2009. The Company is working with the relevant government agencies to remove the suspension as soon as possible in order to resume normal mining operations.

Cautionary Note Regarding Forward-looking Information

This news release contains forward-looking information. Such forward-looking information involves numerous assumptions, risks, uncertainties and other factors that could cause actual events to differ materially from those expressed or implied by such forward-looking information. All information, other than statements of historical fact, is forward-looking information. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by us, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information.

Centerra disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

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