Centerra Gold Inc.
TSX : CG

Centerra Gold Inc.

November 14, 2005 13:30 ET

Centerra Gold Issues Update on Operations at its Kumtor Mine

TORONTO, ONTARIO--(CCNMatthews - Nov. 14, 2005) - Centerra Gold Inc. (TSX:CG) today reported that access to its Kumtor mine, in the Kyrgyz Republic, is currently being restricted by illegal roadblocks.

The action is related to the 1998 cyanide incident which Centerra settled with the Government of the Kyrgyz Republic in 1999. The settlement agreement was submitted to international arbitration which reviewed and confirmed the settlement as fair and reasonable.

The company is in discussions with the national and local government to expeditiously resolve the situation.

The operations continue normally, however the Company continues to closely monitor and evaluate the situation. The Company will issue further updates as warranted.

About Centerra

Centerra is a growth-oriented, pure-play gold company focused on acquiring, exploring, developing and operating gold properties primarily in Central Asia, the former Soviet Union and other emerging markets. The two gold mines operated by the Company are expected to produce 800,000 ounces in 2005 at a total cash cost of about $232 per ounce. This ranks Centerra as a leading North American 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 (TSX) 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