Centerra Gold Inc.
TSX : CG

Centerra Gold Inc.

June 12, 2009 09:39 ET

Centerra Gold Boroo Mine Operating Licenses Suspended

TORONTO, ONTARIO--(Marketwire - June 12, 2009) - Centerra Gold Inc. (TSX:CG) announces that it received a notice today from the Minerals Resources Authority of Mongolia that the Boroo Mine's main operating licenses have been suspended for a period up to three months. The notice was based on a report from the State Specialized Inspection Agency which recently visited the Boroo minesite.

According to the notice the licenses were suspended due to alleged issues relating to the operating licenses such as record keeping, incorrect land use, and improper operating procedures. The Company is working closely with the authorities to understand the issues and to resolve these issues in a timely manner. If the issues are resolved within the three month period, the licenses may be reauthorized. If not resolved, there is a possibility that the liscences will be revoked.

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