Latest news with #CenterraGoldInc
Yahoo
05-06-2025
- Business
- Yahoo
Centerra Gold Publishes 2024 Sustainability Report
TORONTO, June 05, 2025 (GLOBE NEWSWIRE) -- Centerra Gold Inc. ('Centerra' or the 'Company') (TSX: CG) (NYSE: CGAU) announces that it has published its 2024 Sustainability Report, which outlines the Company's performance on Environmental, Social and Governance ('ESG') topics. Key highlights and achievements from the report are included below. The full report can be accessed on Centerra's website at: Paul Tomory, President and Chief Executive Officer of Centerra, commented 'At Centerra, we continue to believe that responsible mining is a key driver of long-term value and profitable growth. In 2024, we achieved several key milestones in workplace health and safety, climate and environment, and governance and transparency. Our sustainability reporting continues to evolve, and we are committed to meeting rising expectations through increased transparency and alignment with accepted frameworks and standards.' Environmental Total global scope 1 and 2 greenhouse gas ('GHG') emissions were 137,719 and 34,727 tonnes of carbon dioxide equivalent ('tCO2e'), respectively. Emissions per ounce of gold produced at the Company's two main operating mines, Mount Milligan and Öksüt, was 0.28 tCO2e per ounce, which is well below the sector's weighted average emissions intensity of 0.66 tCO2e per ounce. Centerra continued to implement its climate change strategy with a focus on economically feasible site-level decarbonization initiatives, refining climate risk scenario analysis, and strengthening climate disclosures. Centerra completed a climate resiliency plan outlining key climate physical and transitional risk and opportunities across all operations. Öksüt earned an ISO 50001 energy management system certification and attained certification from the International Cyanide Management Institute, confirming full compliance with the International Cyanide Management Code. Mount Milligan implemented initiatives to improve mine water recycling to reduce freshwater intake volumes, further strengthening recycling and conservation goals. Social Reduced total reportable injury frequency rate to 0.71, down from 0.76 in the prior year. Increased collaboration with Indigenous-owned businesses by 31% to 21 businesses, up from 16 in from 2023 and achieved 19% Indigenous employee representation across British Columbia operations. Local procurement spending across all operating jurisdictions increased by 26% from 2023, for a total of $134 million spent in 2024. Continued global talent management initiatives aimed at identifying and developing future leadership potential. Governance Centerra surpassed its 2026 gender diversity goal for a second year in a row with 38% female representation on the Board of Directors and 33% among officers of the Company. Received independent assurance of conformance with the World Gold Council's Responsible Gold Mining Principles. About Centerra Gold Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada. Centerra's shares trade on the Toronto Stock Exchange ('TSX') under the symbol CG and on the New York Stock Exchange ('NYSE') under the symbol CGAU. The Company is based in Toronto, Ontario, Canada. For more information: Lisa WilkinsonVice President, Investor Relations & Corporate Communications(416) Additional information on Centerra is available on the Company's website at on SEDAR+ at and EDGAR at
Yahoo
14-05-2025
- Business
- Yahoo
Centerra Gold (CGAU) Upgraded to Buy: What Does It Mean for the Stock?
Investors might want to bet on Centerra Gold Inc. (CGAU), as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements. As such, the Zacks rating upgrade for Centerra Gold is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price. The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock. Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Centerra Gold imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher. Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>. This company is expected to earn $0.69 per share for the fiscal year ending December 2025, which represents a year-over-year change of -2.8%. Analysts have been steadily raising their estimates for Centerra Gold. Over the past three months, the Zacks Consensus Estimate for the company has increased 16.1%. Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term. You can learn more about the Zacks Rank here >>> The upgrade of Centerra Gold to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Centerra Gold Inc. (CGAU) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-04-2025
- Business
- Yahoo
Is Centerra Gold Inc. (NYSE:CGAU) a Cheap Hot Stock to Buy Right Now?
We recently published a list of the 10 Cheap Hot Stocks to Buy Right Now. In this article, we are going to take a look at where Centerra Gold Inc. (NYSE:CGAU) stands against other cheap hot stocks. Periods of high market volatility can make cheap stocks attractive because sharp price swings may undervalue fundamentally strong growth companies in the short run. This allows selective long-term investors to buy them at a discount and benefit when stability returns and prices recover. On April 17, AB's Jim Tierney and Charles Schwab's Kathy Jones appeared together on CNBC's 'Power Lunch' to discuss how long-term investors should move in the current market. Kathy Jones recommended neglecting the current marked noise and emphasized the importance of sticking to fundamental investment principles during such uncertainty. She advised investors to remain diversified, while keeping in mind their personal risk tolerance and capacity. She says that the current environment is one of considerable uncertainty and volatility, making a conservative, credit-quality-focused fixed income portfolio suitable. Jones thinks that long-term investors seeking income, capital preservation, and diversification from stocks should focus on higher credit quality bonds with a duration of about 5 to 7 years. She believes that this duration can balance earning a fair amount of interest income while minimizing credit risk, volatility, and interest rate risk. Given the current market uncertainty, Jim Tierney encouraged equity investors to seek and be selective about opportunities available to them right now. He's optimistic that attractive investment opportunities still exist despite the challenging environment. Tierney also addressed whether the recent market rebound should prompt investors to sell. He argued that for long-term investors, slightly lower prices amid a market that has risen about 90% over 5 years present a better entry point. He cautioned against expecting annual gains of 20% every year, noting that such consistently high returns are unrealistic. He highlighted the potential for companies capable of double-digit growth over the next 5 years to perform well despite tariff uncertainties. He advised focusing on firms that manufacture locally in different countries, so that tariff risks can be avoided. He even thinks that the companies with pricing power would be better off if tariffs were implemented in some form. We first sifted through the Finviz stock screener to compile a list of the top cheap stocks with a forward P/E ratio under 15 as of April 16. Then we picked the 10 hot stocks with highest gains over the past 1 month (over 15%), that were the most popular among elite hedge funds and that analysts were bullish on. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2024. The hedge fund data was sourced from Insider Monkey's database, which tracks the moves of over 900 elite money managers. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). Aerial view of modern machinery operating in a gold mining site. Forward P/E Ratio as of April 16: 10.65Number of Hedge Fund Holders: 16 Centerra Gold Inc. (NYSE:CGAU) acquires, explores, develops, and operates gold and copper properties in North America, Turkey, and internationally. It also explores for molybdenum deposits. Its principal assets include the Mount Milligan gold-copper mine located in British Columbia in Canada, and the Öksüt gold mine located in Türkiye. Centerra's Mount Milligan generated $77 million in cash from operations and $65 million in free cash flow in FQ4 2024. Mount Milligan yielded ~38,000 ounces of payable gold and 12.8 million pounds of payable copper. For the full year 2024, the mine produced more than 167,000 ounces of gold and 54 million pounds of copper. This mine is expected to produce between 165,000 and 185,000 ounces of gold and 50 million to 60 million pounds of copper in 2025. Centerra is working to enhance the long-term value of this asset. Technical studies are progressing well, leading to a decision to move directly to a pre-feasibility study, anticipated to be completed in FQ3 2025. The mine life was also to 2036 due to improved waste storage. Centerra Gold Inc. (NYSE:CGAU) is also optimistic about the potential for increased annual mill throughput by ~10% through upgrades. Overall, CGAU ranks 7th on our list of the cheap hot stocks to buy right now. While we acknowledge the growth potential of CGAU, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than CGAU but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
22-02-2025
- Business
- Yahoo
Centerra Gold Inc (CGAU) Q4 2024 Earnings Call Highlights: Strong Cash Flow and Strategic ...
Gold Production: Over 73,000 ounces in Q4 2024; full-year production over 167,000 ounces. Copper Production: 12.8 million pounds in Q4 2024; full-year production 54 million pounds. Free Cash Flow: $47 million in Q4 2024; $480 million generated since June 2023 at Oksut. Cash Balance: $625 million at the end of 2024. Adjusted Net Earnings: $37 million or $0.17 per share in Q4 2024. All-in Sustaining Costs (AISC): $1,296 per ounce in Q4 2024; full-year AISC $1,148 per ounce. Revenue from Gold Sales: Average realized price of $2,207 per ounce in Q4 2024. Revenue from Copper Sales: Average realized price of $2.88 per pound in Q4 2024. Molybdenum Sales: 2.9 million pounds sold at an average price of $22.67 per pound in Q4 2024. Share Buybacks: 1.8 million shares repurchased for $12 million in Q4 2024. Dividend: CAD0.07 per share declared in Q4 2024. 2025 Gold Production Guidance: 270,000 to 310,000 ounces. 2025 Copper Production Guidance: 50 million to 60 million pounds. 2025 AISC Guidance: $1,400 to $1,500 per ounce. Warning! GuruFocus has detected 4 Warning Signs with CGAU. Release Date: February 21, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Centerra Gold Inc (NYSE:CGAU) reported strong free cash flow generation in the fourth quarter, driven by robust contributions from Mount Milligan. The company ended 2024 with a cash balance of $625 million, providing total liquidity of over $1 billion. Mount Milligan's site-wide optimization program has led to reduced operating costs and improved productivity. Centerra Gold Inc (NYSE:CGAU) is advancing key growth catalysts at Mount Milligan and Kemess, with a pre-feasibility study expected in the third quarter of 2025. The company remains committed to returning capital to shareholders, with $88 million returned in 2024 through share buybacks and dividends. Full-year 2024 gold and copper production at Mount Milligan was below guidance due to lower grades encountered. Oksut's 2025 gold production is expected to be lower, with all-in sustaining costs rising due to inflation in Turkey. The Goldfield project does not meet requirements for near-term development, leading to an impairment on the asset. Consolidated all-in sustaining costs are expected to rise in 2025, driven by lower gold production at Oksut and inflation impacts. The molybdenum business unit reported a free cash flow deficit in the fourth quarter, mainly related to spending on the Thompson Creek restart. Q: What is Centerra Gold's strategy for growing its gold business, particularly in Turkey and with the Goldfield project? A: Centerra Gold is committed to maintaining gold as its primary metal. The company is focused on unlocking value within its existing portfolio, particularly through the expansion of Mount Milligan and the Kemess project. While the Goldfield project is currently on hold, Centerra is open to strategic and commercial options, including M&A, to grow its gold business. The company is also committed to Turkey and is exploring greenfield exploration programs there. (Paul Tomory, President, CEO) Q: With the rising gold prices, is Centerra considering increasing its capital returns to shareholders through dividends or buybacks? A: Centerra remains committed to its share buyback program, believing its shares are undervalued. The company prefers to allocate capital to gold growth opportunities, such as organic projects at Mount Milligan and Kemess, while maintaining current levels of dividends and buybacks. (Paul Tomory, President, CEO) Q: What is the potential for improving gold recoveries at Mount Milligan, and what is the timeline for achieving this? A: Centerra is focused on improving gold recoveries at Mount Milligan. The company is targeting mid-60s recovery rates and is working on better understanding the geomat model and improving blending. The timeline for improvement is ongoing, with efforts to enhance recovery through technical studies and operational adjustments. (Paul Chawrun, EVP, COO) Q: How might tariffs impact Mount Milligan's costs, and what measures are in place to mitigate this? A: Centerra does not anticipate significant impacts from tariffs on Mount Milligan's costs. The majority of costs are from Canadian suppliers, and the company is focused on cost reduction initiatives to offset any potential cost increases. (Ryan Snyder, EVP, CFO) Q: What is the current strategy for the Goldfield project, and is a sale or joint venture being considered? A: The Goldfield project is currently on hold as it did not meet the company's thresholds for advancement. Centerra is open to strategic options, including a sale or joint venture, while focusing on other projects like Kemess. (Paul Tomory, President, CEO) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Globe and Mail
20-02-2025
- Business
- Globe and Mail
Centerra Gold Announces 2024 Year-End Mineral Reserves and Resources, Including an Initial Resource at Goldfield; Provides Exploration Update
All figures are in United States dollars unless otherwise stated. This news release contains forward-looking information that is subject to risk factors and assumptions as set out in the 'Cautionary Note Regarding Forward-Looking Information' below. TORONTO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Centerra Gold Inc. ('Centerra' or the 'Company') (TSX: CG) (NYSE: CGAU) announces its 2024 year-end estimates for mineral reserves and mineral resources. Proven and probable gold mineral reserves were 3.5 million ounces and proven and probable copper mineral reserves were 1,150 million pounds, as of December 31, 2024. Measured and indicated gold mineral resources were 6.8 million ounces as of December 31, 2024, which includes the initial gold mineral resource at the Goldfield Project ('Goldfield') of 706 thousand ounces. Centerra Year-End Gold Mineral Reserves and Mineral Resources (1) 2024 2023 Property Tonnes (kt) Grade (g/t) Contained Gold (koz) Tonnes (kt) Grade (g/t) Contained Gold (koz) Total Proven and Probable Gold Mineral Reserves Mount Milligan Mine 264,512 0.33 2,826 250,025 0.35 2,822 Öksüt Mine 20,080 1.03 662 25,255 1.01 819 Total 284,591 0.38 3,488 275,280 0.41 3,641 Total Measured and Indicated Gold Mineral Resources Mount Milligan Mine 183,971 0.26 1,566 259,860 0.27 2,333 Öksüt Mine 2,617 0.69 58 6,752 0.55 119 Kemess Open Pit 111,682 0.27 980 111,682 0.27 980 Kemess Underground 139,920 0.50 2,265 139,920 0.50 2,265 Kemess East 93,454 0.39 1,182 93,454 0.39 1,182 Goldfield 30,833 0.71 706 - - - Total 562,476 0.37 6,759 611,668 0.35 6,880 Inferred Gold Mineral Resources Mount Milligan Mine 27,924 0.44 395 7,795 0.34 84 Öksüt Mine 130 1.06 4 348 0.78 9 Kemess Open Pit 13,691 0.26 116 13,691 0.26 116 Goldfield 2,267 0.41 30 - - - Total 44,012 0.39 547 21,833 0.30 209 (1) As of December 31, 2024. Refer to Tables 'Centerra Gold Inc. 2024 Year-End Mineral Reserve and Resource Summary – Gold' and 'Centerra Gold Inc. 2024 Year-End Mineral Reserve and Resource Summary – Other Metals', including their respective footnotes and the 'Additional Footnotes' section below. Mount Milligan Mine ('Mount Milligan'): In 2024, the Company replaced mined mineral reserves at Mount Milligan by upgrading mineral resources. Centerra has successfully extended the life of mine at Mount Milligan to 2036 by increasing the use of mined-out areas of the open pit for potential acid generating ('PAG') waste storage. This has increased available storage capacity in the existing tailings facility and extended the overall mine life for the current mineral reserve estimate. Kemess Project ('Kemess'): The Kemess property has substantial gold and copper resources in a highly prospective district with significant infrastructure already in place, including: a 300 kilometre, 230 kilovolt power line, one of the longest privately owned power lines in British Columbia; a 50,000 tonnes per day nameplate processing plant, which would require some refurbishment and equipment replacements; site infrastructure including a camp, administration facilities, truck shop and warehouse; and tailings storage through in-pit and an existing facility, which is capable of expansion. Centerra is currently working to incorporate the results of a drilling campaign conducted in 2024 at Kemess into an updated open pit resource model. The program included over 11,400 metres of core drilling for exploration, geotechnical, and metallurgical testing purposes. During 2024, Centerra commenced evaluation of technical concepts and engineering trade-off studies for potential restart options at Kemess. Early operating concepts include a combined open pit and conventional underground operation, which are expected to be less capital intensive and have a better cash flow profile than the previously permitted underground block cave concept. In addition to an exploration campaign in 2025 to further delineate the resources, the Company is planning on continuing to advance the technical studies that will include metallurgical testing for flowsheet optimization, mine plan optimization, materials handling infrastructure engineering, tailings design optimization, as well as initiation of environmental baseline studies. Early indications show potential for a long-life operation that takes advantage of the significant infrastructure already in place. The Company expects to provide an updated resource estimate and an accompanying update on the technical concept for Kemess in the second quarter of 2025. Goldfield: The initial measured and indicated gold mineral resource at Goldfield was 706 thousand ounces of gold, as of December 31, 2024, which includes both oxide and transition material, principally in the Gemfield, McMahon, and Jupiter deposits. In conjunction with exploration drilling, the Company completed metallurgical testwork resulting in run-of-mine recoveries in the mid-60% range (see 'Additional Footnotes' section at the end of this release for details on recoveries), which is in line with expectations for a heap leach project and is expected to lower the capital investment required for the project. Based on the size of the resource estimate, the project does not meet Centerra's requirements to support near-term development. The Company remains committed to maximizing the project's potential, while exploring strategic and commercial options for Goldfield. Centerra Year-End Copper Mineral Reserves and Mineral Resources (1) 2024 2023 Property Tonnes (kt) Grade (% Copper) Contained Copper (Mlbs) Tonnes (kt) Grade (% Copper) Contained Copper (Mlbs) Proven and Probable Copper Mineral Reserves Mount Milligan Mine 264,512 0.20 1,150 250,025 0.17 961 Total 264,512 0.20 1,150 250,025 0.17 961 Measured and Indicated Copper Mineral Resources Mount Milligan Mine 183,971 0.18 732 259,860 0.15 851 Kemess Open Pit 111,682 0.14 337 111,682 0.14 337 Kemess Underground 139,920 0.25 779 139,920 0.25 779 Kemess East 93,454 0.30 628 93,454 0.30 628 Total 529,027 0.21 2,476 604,916 0.19 2,595 Inferred Copper Mineral Resources Mount Milligan Mine 27,924 0.12 74 7,795 0.14 24 Kemess Open Pit 13,691 0.16 48 13,691 0.16 48 Total 41,615 0.13 121 21,486 0.15 72 (1) As of December 31, 2024. Refer to Tables 'Centerra Gold Inc. 2024 Year-End Mineral Reserve and Resource Summary – Gold' and 'Centerra Gold Inc. 2024 Year-End Mineral Reserve and Resource Summary – Other Metals', including their respective footnotes and the 'Additional Footnotes' section below. Exploration Update Exploration activities in the fourth quarter of 2024 included drilling, surface rock and soil sampling, geological mapping, and geophysical surveying, targeting gold and copy mineralization at the Company's projects and properties in Canada, Türkiye, and the United States. 2024 Exploration Highlights Confirming Mount Milligan's long-life potential, the pit expanded to the west and southwest, due to significant intersections in the Goldmark and Saddle areas. Model expansion includes the south boundary area. Remodeling considers all holes drilled west of the Mount Milligan pit and resulted in defining the South Boundary inferred resource. At Kemess drilling was carried out in 2024 to assess the viability of start-up scenarios and open pit resource expansion. The goal was to expand near-surface mineralization west and southwest of the Kemess underground project. Resource delineation drilling for near surface oxide mineralization continued at the Goldfield project. Drilling intersected low-grade mineralization with a series of 10 to 30 metres at 0.4 grams per tonne ('g/t'). Most of the drilling was completed before the fourth quarter 2024, except at the Oakley project, in Idaho, United States (5,818 metres), Nallihan in Türkiye (4,829 metres) and Öksüt in Türkiye (421 metres). The drilling at Öksüt started late December 2024. Full year 2024 drilling totalled 72.3 kilometres, including greenfield projects. 2025 Exploration Outlook Exploration expenditures in 2025 are expected to be $35 to $45 million, including $20 to $25 million of brownfield exploration primarily at Mount Milligan and Kemess, and $15 to $20 million of greenfield and generative exploration programs. Centerra is expected to continue to explore the western extension of the Mount Milligan deposit and perform infill drilling to upgrade the inferred resources to indicated. Approximately 25% of the 2025 exploration expenditures are allocated to drilling programs at Mount Milligan to upgrade the inferred resources between Goldmark and North Slope and to test the extension of the South Boundary mineralization. A total of 45 kilometres of drilling is planned for 2025 at Mount Milligan. Centerra is expected to continue to explore Kemess, where the 2024 drilling resulted in delineation of mineralization between the Kemess Main open pit and Nugget (Centra Ridge zone). The 2025 exploration program at Kemess is focused on upgrading the resources along the five-kilometre-long mineralized trend. Approximately 13% of the 2025 exploration expenditures are allocated to Kemess to drill 12.5 kilometres. In the United States, Centerra is expected to continue to explore for near surface oxide mineralization within the Goldfield district and at Oakley. Centerra is also expected to continue advancing exploration work at its greenfield projects, Green Springs in Nevada and Jones Creek in Utah. In Türkiye, Centerra is expected to commence phase 2 drilling at the Nallihan joint venture project and to continue to explore for near surface mineralization southeast of the Öksüt pit. Mount Milligan In 2024, the Company replaced mined mineral reserves at Mount Milligan by upgrading mineral resources. Ongoing exploration drilling program at the site is aimed at expanding the mineral resource base significantly to the west and southwest. In 2024, a total of 7,176 metres of infill drilling was completed in 25 drillholes, and 12,403 metres of brownfield exploration drilling was completed in 28 drillholes. Brownfield exploration focused on targets west of the current ultimate pit margins including the North Slope, Saddle West, and Boundary zones. The 2024 exploration drill results at the North Slope zone show potential for shallow as well as deep porphyry mineralization west of the ultimate pit boundary, adjacent to the Goldmark zone. Results from infill drilling in the MBX zone shows potential for resource expansion on the western pit wall margins and below the current pit boundary. The inclusion of all drillholes west of the Mount Milligan pit in the updated resource model resulted in the delineation of a potential satellite pit at south boundary. This area is one of the focus areas in the 2025 drilling campaign. Centerra continues to be encouraged by the significant mineral endowment and the potential for future resource additions at Mount Milligan. The Company is expected to invest approximately $9 to $12 million in exploration at Mount Milligan in 2025. Mount Milligan Brownfield Drilling and Exploration Figure 1: Plan view of Mount Milligan deposit showing 2024 resource shell. Figure 2: Plan view of Mount Milligan deposit showing major porphyry trends. Figure 3: East-West cross section of the Mount Milligan 2024 resource pit (looking north), showing gold and copper grade contours. The circled area is the 2025 target for infill drilling. Figure 4: Long section view of Mount Milligan (looking northwest), showing gold and copper grade contours. Circled areas represent target areas for the 2025 infill drill program. Figure 5: Plan view of Mt. Milligan showing the 2025 planned drilling program. Bright red holes are phase 1 priority holes intended to be completed by the end of the first quarter 2025. Drilling started in January 2025. The DWBX zone is the depth extension of the WBX porphyry-style gold-copper mineralisation currently mined in the pit. Mineralization is associated with potassic alteration and early quartz veins within the DWBX stock and stock margins. Near surface and south of the DWBX is the King Richard zone. Results received to-date show the potential to extend the open pit to mine DWBX, King Richard, and DWBX Extension. Some selected significant results received during the year include: Hole #24-1531: 26.0m @ 0.71 g/t Au, 0.188% Cu from 58m Hole #24-1569: 37.8m @ 0.48 g/t Au, 0.229% Cu from 115m Hole #24-1572: 30.3m @ 0.55 g/t Au, 0.176% Cu from 83m Hole #24-1556: 48.4m @ 0.32 g/t Au, 0.204% Cu from 139m Hole #24-1571: 58.0m @ 0.24 g/t Au, 0.068% Cu from 68m Hole #24-1556: 83.8m @ 0.15 g/t Au, 0.127% Cu from 214m Hole #24-1554: 73.0m @ 0.16 g/t Au, 0.168% Cu from 248m Hole #24-1564: 18.7m @ 0.60 g/t Au, 0.161% Cu from 21m The Goldmark zone is directly west of the current Mount Milligan pit design, situated above the high grade DWBX zone. In 2024, drilling continued to test the western extent of the Goldmark mineralisation that had been intersected in previous drill programs. Shallow porphyry-style gold and copper mineralisation is hosted at the margins of dykes and the Goldmark stock. High gold-low copper ('HGLC') style mineralisation occurs throughout the zone. The results show potential for shallow resource additions and the extension of mineralisation west of the existing pit boundary. Significant results include: Hole #24-1529: 65.0m @ 0.22 g/t Au, 0.191% Cu from 497m Hole #24-1529: 19.2m @ 0.41 g/t Au, 0.038% Cu from 370m Hole #24-1532: 20.0m @ 0.28 g/t Au, 0.030% Cu from 34m Hole #24-1532: 11.5m @ 0.32 g/t Au, 0.205% Cu from 275m The North Slope zone is approximately 1.5 kilometres west of the western margins of the existing pit boundary. Assays show multiple localized shallow zones of mineralisation related to the North Slope stock, with higher-grade porphyry-style gold and copper mineralization intersected near surface and at depth. Significant results include: Hole #24-1533: 42.3m @ 0.41 g/t Au, 0.241% Cu from 25m Hole #24-1533: 3.0m @ 4.47 g/t Au, 0.078% Cu from 448m Hole #24-1536: 41.8m @ 0.33 g/t Au, 0.144% Cu from 244m Hole #24-1536: 68.6m @ 0.16 g/t Au, 0.172% Cu from 305m Hole #24-1536: 64.9m @ 0.29 g/t Au, 0.173% Cu from 378m Hole #24-1543: 85.8m @ 0.24 g/t Au, 0.173% Cu from 336m Hole #24-1543: 101.3m @ 0.20 g/t Au, 0.179% Cu from 451m Hole #24-1563: 7.1m @ 2.21 g/t Au, 0.142% Cu from 81m Hole #24-1563: 13.5m @ 1.09 g/t Au, 0.086% Cu from 32m Hole #24-1566: 4.9m @ 8.11 g/t Au, 0.024% Cu from 238m Hole #24-1566: 40.0m @ 0.33 g/t Au, 0.012% Cu from 136m Hole #24-1567: 23.5m @ 4.27 g/t Au, 0.183% Cu from 160m Hole #24-1567: 5.0m @ 5.01 g/t Au, 0.147% Cu from 291m Hole #24-1567: 27.0m @ 2.83 g/t Au, 0.143% Cu from 342m Hole #24-1567: 27.7m @ 3.63 g/t Au, 0.129% Cu from 483m Kemess Project In 2024, 11,430 metres of core drilling was completed in 31 drillholes. These drillholes are expected to be incorporated into an updated mineral resource in the second quarter of 2025. The 2024 drill program targeted the area between the known mineralization at Nugget and the upper portion of the Kemess Underground zones. Significant drill intersections were received, confirming that the mineralization continues approximately five kilometres along strike. Geologic modeling and a preliminary resource estimate show continuous mineralization between the Nugget and Kemess North zone areas, which is expected to be the focus for the 2025 drill program. The program aims to upgrade inferred resources to indicated reserves and also to test, and potentially, confirm high grade mineralization in the deep Kemess offset zone. Centerra is encouraged by the large mineralization at Kemess and believes that it can be a future source of gold and copper production with a long mine life. Some of the significant 2024 results include: Hole #KN-24-013: 435m @ 0.43g/t Au, 0.23% Cu from 172m Hole #KN-24-013: 402m @ 0.42g/t Au, 0.20% Cu from 47m Hole #KN-24-017: 382m @ 0.38g/t Au, 0.19% Cu from 8m Hole #KN-24-014: 342m @ 0.35g/t Au, 0.07% Cu from 56m Hole #KN-24-019: 341m @ 0.34g/t Au, 0.16% Cu from 4m Hole #KN-24-021: 311m @ 0.37g/t Au, 0.18% Cu from 0m Figure 6: A long sectional view of the Kemes deposit showing a 0.2 g/t Au shell. The areas previously studied for a potential block cave mining scenario are shown within the dotted areas. The 2023 conceptual optimized pit is shown in grey. Goldfield Project ('Goldfield') In 2024, Centerra continued to explore within the Goldfield district, focusing on exploring near surface oxide mineralization. The 2024 drill program consisted of 175 drillholes over 20,028 metres with 45 core holes totaling 5,386 metres and 130 reverse circulation drillholes totaling 14,642 metres. Drilling at Goldfield's other target areas did not yield meaningful results. The Jupiter prospect exploration program focused on oxidized mineralization with an up-dip projection trending shallower on the eastern portion of the prospect. The Jupiter prospect is the northerly extension of the Gemfield deposit. Drilling was facilitated by land agreements and drill permits completed in late 2023. Results proved the up-dip projection of oxide mineralization in the prospect, however, the grades and thickness are uneconomic to include an appreciable amount of material into an optimized pit shell when the prevailing economic parameters were applied. A series of small satellite pits were delineated to be included in the Goldfield initial resource. Some of the significant results received for Jupiter include: Hole #GEM24R279: 19.8m @ 2.55 g/t Au, 16.38 g/t Ag from 87m Hole #GEM24R256: 36.6m @ 1.04 g/t Au, 1.09 g/t Ag from 20m Hole #GEM24R319: 6.1m @ 5.36 g/t Au, 5.50 g/t Ag from 0m Hole #GEM24R286: 24.4m @ 1.09 g/t Au, 1.96 g/t Ag from 23m Hole #GEM24R249: 35.1m @ 0.41 g/t Au, 0.66 g/t Ag from 40m Hole #GEM24R291: 30.5m @ 0.46 g/t Au, 0.70 g/t Ag from 15m Hole #GEM24R289: 30.5m @ 0.40 g/t Au, 0.91 g/t Ag from 15m Hole #GEM24R239: 32.0m @ 0.38 g/t Au, 1.04 g/t Ag from 11m Oakley Project ('Oakley') The 2024 drill program at Oakley completed 32 drillholes over 5,818 metres with 18 core holes totaling 2,995 metres and 14 reverse circulation drillholes totaling 2,823 metres. In 2024, drilling at the Cold Hill and Blue Hill prospects focused on expanding the known gold mineralization, while drilling at Red Rock and White Rock focused on new, untested drill targets. At the Cold Hill target, four holes encountered significant mineralization, primarily represented by silicified pebble to cobble conglomerate and silicified volcanic ash, and with minor intersections within the underlying Paleozoic limestone, represented by decalcification and silicification. These intersections continue to define the lateral extent and width of the mineralization at Cold Hill. Some of the significant results received for Cold Hill include: Hole #CC-24-04: 20.3m @ 0.24 g/t Au, 1.47 g/t Ag from 8m Hole #CC-24-04: 20.9m @ 0.50 g/t Au, 4.00 g/t Ag from 37m Hole #CC-24-07: 9.9m @ 0.69 g/t Au, 1.19 g/t Ag from 192m Hole #CC-24-07: 1.0m @ 4.54 g/t Au, 0.90 g/t Ag from 200m Drilling at the Blue Hill prospect focused on testing the margins of the known mineralization and following up on the higher-grade intersections identified in historic drilling. Mineralization was encountered in the most southwestern drillholes in the prospect, which shows the potential for additional mineralization towards the southwest. The mineralization is associated with strong silicification of the pebble to cobble conglomerate and silicification of the volcanic ash beds. Significant intersections are listed below. Hole #BHC24R001: 19.8m @ 0.42 g/t Au, 4.19 g/t Ag from 24m Hole #BHC24R003: 24.4m @ 0.45 g/t Au, 4.73 g/t Ag from 84m Hole #BHC24R005: 64.0m @ 0.31 g/t Au, 2.74 g/t Ag from 50m Hole #BHC24R005: 28.9m @ 0.25 g/t Au, 6.88 g/t Ag from 131m Hole #BHC24R007: 21.4m @ 0.35 g/t Au, 3.11 g/t Ag from 90m Hole #BHC24R007: 67.0m @ 0.50 g/t Au, 5.83 g/t Ag from 162m Öksüt Mine ('Öksüt') Drilling started during December 2024, with a total of 431 metres completed at the Güneytepe pit to test for potential deep porphyry mineralization. The exploration for deep porphyry deposits was initiated in 2023, based on historical drillholes confirming potassic alteration related to porphyry intrusive rocks on the Öksüt license. In 2024, a detailed alteration analysis and modelling was completed, using data from historical and recent (2023) deep holes drilled in and around the Öksüt deposit. The analysis of these drillholes pointed to the presence of a large pyrophyllite alteration zone, which is an indicator for the presence of the upper parts of a porphyry system. The porphyry system was tested in 2024 by drilling additional deep holes under the Güneytepe pit. In 2025, Centerra expects to continue to explore for near surface oxide mineralization southeast of the Öksüt pit. A full listing of the drill results has been filed on SEDAR+ at EDGAR at and is available on the Company's website at 1) Centerra's equity interests as of this news release are as follows: Mount Milligan 100%, Öksüt 100%, Kemess Open Pit, Kemess Underground and Kemess East 100%, Goldfield 100%. Mineral reserves and resources for these properties are presented on a 100% basis. Numbers may not add up due to rounding. 2) Mineral resources are in addition to mineral reserves. Mineral resources do not have demonstrated economic viability. 3) Inferred mineral resources have a great amount of uncertainty as to their existence and as to whether they can be mined economically. It cannot be assumed that all or part of the inferred mineral resources will ever be upgraded to a higher category. 4) Production at Mount Milligan is subject to a streaming agreement with RGLD Gold AG and Royal Gold, Inc. (collectively, 'Royal Gold') which entitles Royal Gold to 35% of gold sales from the Mount Milligan Mine. Under the stream arrangement, Royal Gold will pay a reduced price per ounce of gold delivered. Mineral reserves and resources for the Mount Milligan property are presented on a 100% basis. Centerra Gold Inc. 2024 Year-End Mineral Reserve and Resources Summary – Other Metals (1) as of December 31, 2024 (see additional footnotes below) Tonnes (kt) Copper Grade (%) Contained Copper (Mlbs) Molybdenum Grade (%) Contained Molybdenum (Mlbs) Silver Grade (g/t) Contained Silver (koz) Proven Mineral Reserves Mount Milligan (4) 187,961 0.19 808 - - - - Thompson Creek 44,885 - - 0.076 75 - Probable Mineral Reserves Mount Milligan (4) 76,551 0.20 342 - - - - Thompson Creek 68,104 - - 0.057 86 - Total Proven and Probable Mineral Reserves Mount Milligan (4) 264,512 0.20 1,150 - - - - Thompson Creek 112,989 - - 0.065 161 - Total Copper and Molybdenum 377,501 0.20 1,150 0.065 161 - - Measured Mineral Resources (2) Mount Milligan (4) 91,827 0.19 384 - - - - Thompson Creek 5,009 - - 0.059 7 - - Endako 47,100 - - 0.050 48 - - Indicated Mineral Resources (2) Mount Milligan (4) 92,144 0.17 348 - - - - Kemess Open Pit 111,682 0.14 337 - - 1.19 4,262 Kemess Underground 139,920 0.25 779 - - 1.90 8,544 Kemess East 93,454 0.30 628 - - 1.66 5,000 Thompson Creek 45,178 - - 0.057 57 - - Endako 122,175 - - 0.040 118 - - Total Measured and Indicated Mineral Resources (2) Mount Milligan (4) 183,971 0.18 732 - - - - Kemess Open Pit 111,682 0.14 337 - - 1.19 4,262 Kemess Underground 139,920 0.25 779 - - 1.90 8,544 Kemess East 93,454 0.30 628 - - 1.66 5,000 Total Copper and Silver 529,027 0.21 2,476 - - 1.61 17,806 Thompson Creek 50,187 - - 0.057 63 - - Endako 169,275 - - 0.043 166 - - Total Molybdenum 219,462 - - 0.046 229 - - Inferred Mineral Resources (3) Mount Milligan (4) 27,924 0.12 74 - - - - Kemess Open Pit 13,691 0.16 48 - - 1.40 615 Total Copper and Silver 41,615 0.13 121 - - 1.40 615 Thompson Creek 10,523 - - 0.072 17 - - Endako 47,325 - - 0.040 44 - - Total Molybdenum 57,848 - - 0.046 61 - - 1) Centerra's equity interests as of this news release are as follows: Mount Milligan 100%, Kemess Underground and Kemess East 100%, Thompson Creek 100%, and Endako 75%. Mineral reserves and resources for these properties are presented on a 100% basis. Numbers may not add up due to rounding. 2) Mineral resources are in addition to mineral reserves. Mineral resources do not have demonstrated economic viability. 3) Inferred mineral resources have a great amount of uncertainty as to their existence and as to whether they can be mined economically. It cannot be assumed that all or part of the inferred mineral resources will ever be upgraded to a higher category. 4) Production at Mount Milligan is subject to a streaming agreement which entitles Royal Gold to 18.75% of copper sales from the Mount Milligan Mine. Under the stream arrangement, Royal Gold will pay a reduced percentage of the spot price per metric tonne of copper delivered. Mineral reserves and resources for the Mount Milligan property are presented on a 100% basis. Additional Footnotes General A conversion factor of 31.1035 grams per troy ounce of gold is used in the mineral reserve and mineral resource estimates. Mount Milligan Mine The mineral reserves are reported based on a gold price of $1,800 per ounce, a copper price of $3.75 per pound and an exchange rate of 1USD:1.30CAD. The open pit mineral reserves are reported based on a Net Smelter Return ('NSR') cut-off of $8.72 per tonne (C$11.33 per tonne) that takes into consideration metallurgical recoveries, concentrate grades, transportation costs, and smelter treatment charges to determine economic viability. The mineral resources are reported based on a gold price of $2,000 per ounce, a copper price of $4.00 per pound, and an exchange rate of 1USD:1.30CAD. The open pit mineral resources are constrained by a pit shell and are reported based on a NSR cut-off of $8.72 per tonne (C$11.33 per tonne) that takes into consideration metallurgical recoveries, concentrate grades, transportation costs, and smelter treatment charges to determine economic viability. Further information concerning the Mount Milligan deposit, operation, as well as environmental and other risks is described in Centerra's most recently filed Annual Information Form and in the Mount Milligan Mine Technical Report, each of which has been filed on SEDAR+ at and EDGAR at Sample preparation, analytical techniques, laboratories used, and quality assurance-quality control protocols used during the exploration drilling programs are consistent with industry standards and were carried out by independent, certified assay labs. The resource tables above do not include the 2024 exploration drill results. Öksüt Mine The mineral reserves are reported based on a gold price of $1,800 per ounce and an exchange rate of 1USD:34TL. The open pit mineral reserves are reported based on 0.16 grams of gold per tonne cut-off grade. Open pit optimization used an average life of mine ('LOM') metallurgical recovery of 77%. The mineral resources are reported based on a gold price of $2,000 per ounce. Open pit mineral resources are constrained by a pit shell and are estimated based on 0.16 grams of gold per tonne cut-off grade. Further information concerning the Öksüt deposit, operation, as well as environmental and other risks is described in Centerra's most recently filed Annual Information Form which is available on SEDAR+ at and EDGAR at and the Technical Report on the Öksüt Project, dated September 3, 2015, which is available on SEDAR+ at Sample preparation, analytical techniques, laboratories used, and quality assurance-quality control protocols used during the exploration drilling programs are consistent with industry standards and were carried out by independent, certified assay labs. Kemess Open Pit and Underground The mineral resources are reported based on a gold price of $1,800 per ounce, copper price of $3.75 per pound and an exchange rate of 1USD:1.30CAD. The mineral resources are reported based on a NSR cut-off of C$12.92 open pit and a NSR shut-off value of C$22.92 per tonne for underground block cave mining option that takes into consideration metallurgical recoveries, concentrate grades, transportation costs, and smelter treatment charges. Kemess East The mineral resources are reported based on a gold price of $1,800 per ounce, copper price of $3.75 per pound, and an exchange rate of 1USD:1.30CAD. The mineral resources are reported based on a NSR shut-off of C$22.92 per tonne for underground block cave mining option that takes into consideration metallurgical recoveries, concentrate grades, transportation costs, and smelter treatment charges. Thompson Creek Mine The mineral reserves have been estimated based on a molybdenum price of $16.00 per pound. The open pit mineral reserves are based on a 0.030% molybdenum cut-off grade. The mineral resources have been estimated based on a molybdenum price of $18.50 per pound. The open pit mineral resources are constrained by a pit shell and are estimated based on a 0.025% molybdenum cut-off grade. Further information concerning the Thompson Creek deposit, current and planned operations as well as environmental and other risks are described in the technical report dated September 2024 and filed on SEDAR+ at Sample preparation, analytical techniques, laboratories used, and quality assurance-quality control protocols used during the exploration drilling programs are consistent with industry standards and were carried out by independent, certified assay labs. Endako Mine The mineral resources are reported based on a molybdenum price of C$14.00 per pound and an exchange rate of 1USD:1.25CAD. The open pit mineral resources are constrained by a pit shell and are estimated based on a 0.025% molybdenum cut-off grade. Goldfield The mineral resources are reported based on a gold price of $2,000 per ounce. The open pit mineral resources are constrained by a pit shell and are estimated based on the following cut-off grades: Gemfield: 0.10 g/t for oxide, transition, and sulphide Jupiter: 0.10 g/t for oxide, transition, and sulphide Goldfield Main: 0.14 g/t for oxide, 0.21 g/t for transition, 0.24 g/t for sulphide McMahon Ridge: 0.14 g/t for oxide, 0.21 g/t for transition, 0.24 g/t for sulphide ROM recoveries were assumed to be 67% for the oxide and transition zones for Gemfield and Jupiter, and 62% and 31% for the oxide and transition zones, respectively, for McMahon Ridge. Goldfield Main recoveries considered tertiary crushing, and were 82% for oxide, 61% for transition and 50% for sulphide mineralization. Qualified Person – Mineral Reserves and Resources Christopher Richings, Professional Engineer, member of the Engineers and Geoscientists British Columbia (EGBC) and Centerra's Vice President, Technical Services, has reviewed and approved the scientific and technical information related to mineral reserves at Mount Milligan and Thompson Creek contained in this news release. Mr. Richings is a Qualified Person within the meaning of Canadian Securities Administrator's NI 43-101 Standards of Disclosure for Mineral Projects ('NI 43-101'). Lars Weiershäuser, PhD and PGeo., and Centerra's Director, Geology, has reviewed and approved the scientific and technical information related to mineral resource estimates contained in this news release related to Öksüt, Kemess Open Pit, Kemess Underground, Kemess East, Thompson Creek, and Endako. Dr. Weiershäuser is a Qualified Person within the meaning of NI 43-101. Andrey Shabunin, Professional Engineer, member of Professional Engineers of Ontario (PEO) and General Manager of Öksüt Mine, has reviewed and approved the scientific and technical information related to mineral reserves at Öksüt contained in this news release. Mr. Shabunin is a Qualified Person within the meaning of NI 43-101. AC (Chris) Hunter, Professional Geoscientist, member of the Engineers and Geoscientists of British Columbia (EGBC) and Centerra's Senior Geologist, has reviewed and approved the scientific and technical information related to mineral resources estimates at Mount Milligan contained in this news release. Mr. Hunter is a Qualified Person within the meaning of NI 43-101. Karen Chiu, MSc., PGeo, and Centerra's Corporate Geologist, has reviewed and approved the scientific and technical information related to mineral resource estimates contained in this news release related to Goldfield. Ms. Chiu is a Qualified Person within the meaning of NI 43-101. All other scientific and technical information presented in this document were prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and NI 43-101 and were reviewed, verified, and compiled by Centerra's geological and mining staff under the supervision of W. Paul Chawrun, Professional Engineer, member of the Professional Engineers of Ontario (PEO) and Centerra's Executive Vice President and Chief Operating Officer whom is a qualified person for the purpose of NI 43-101. All mineral reserve and resources have been estimated in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and NI 43-101. Mineral reserve and mineral resource estimates are forward-looking information and are based on key assumptions and are subject to material risk factors. If any event arising from these risks occurs, the Company's business, prospects, financial condition, results of operations or cash flows, and the market price of Centerra's shares could be adversely affected. Additional risks and uncertainties not currently known to the Company, or that are currently deemed immaterial, may also materially and adversely affect the Company's business operations, prospects, financial condition, results of operations or cash flows, and the market price of Centerra's shares. See the section entitled 'Risk That Can Affect Centerra's Business' in the Company's annual Management's Discussion and Analysis (MD&A) for the year-ended December 31, 2024, available on SEDAR+ at and EDGAR at and see also the discussion below under the heading 'Caution Regarding Forward-looking Information'. Qualified Person & QA/QC – Exploration Exploration information and related scientific and technical information in this document regarding the Mount Milligan Mine were prepared, reviewed, verified, and compiled in accordance with the standards of NI 43-101 by Cheyenne Sica, Member of the Association of Professional Geoscientists Ontario and Member of Engineers and Geoscientists British Columbia, and Exploration Manager at Centerra's Mount Milligan Mine, who is the qualified person for the purpose of NI 43-101. Sample preparation, analytical techniques, laboratories used, and quality assurance and quality control protocols used during the exploration drilling programs are done consistent with industry standards while independent certified assay labs are used. Exploration information and related scientific and technical information in this document regarding the Öksüt Mine, the Goldfield District Project, Oakley Project, and all other exploration projects were prepared, reviewed, verified, and compiled in accordance with the standards of NI 43-101 by Richard Adofo, Member of the Professional Association of Geoscientists Ontario and Vice President, Exploration & Resource at Centerra, who is the qualified person for the purpose of NI 43-101. Sample preparation, analytical techniques, laboratories used, and quality assurance and quality control protocols used during the exploration drilling programs are done consistent with industry standards while independent certified assay labs are used. All other scientific and technical information presented in this document were prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and NI 43-101 and were reviewed, verified, and compiled by Centerra's geological and mining staff under the supervision of W. Paul Chawrun, Professional Engineer, member of the Professional Engineers of Ontario (PEO), who is a qualified person for the purpose of NI 43-101. About Centerra Gold Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada. Centerra's shares trade on the Toronto Stock Exchange ('TSX') under the symbol CG and on the New York Stock Exchange ('NYSE') under the symbol CGAU. The Company is based in Toronto, Ontario, Canada. For more information: Lisa Wilkinson Vice President, Investor Relations & Corporate Communications (416) 204-3780 Additional information on Centerra is available on the Company's website at on SEDAR+ at and EDGAR at Caution Regarding Forward-Looking Information This news release contains or incorporates by reference 'forward-looking statements' and 'forward-looking information' as defined under applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects to occur are, or may be deemed to be, forward-looking statements. Such forward-looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking statements are generally, but not always, identified by the use of forward-looking terminology such as 'assume', 'believes', 'continue', 'encouraged', 'estimate', 'expect', 'future', 'ongoing', 'plan', 'potential', 'target' or 'update', or variations of such words and phrases and similar expressions or statements that certain actions, events or results 'may', 'could', 'would' or 'will' be taken, occur or be achieved or the negative connotation of such terms. Such statements include but may not be limited to: mineral reserve and mineral resource estimates; life of mine estimates and operating and capital costs; future exploration potential; timing and scope of future exploration (brownfields or greenfields); the ability of the Company to increase mineral reserves or mineral resources at any of its properties; the future success of Kemess including the results of an updated resource estimate and accompanying update on its technical concept including mining methods; the ability of the Company to achieve 50,000 tonnes per day at the Kemess processing plant; the ability of the Company to expand the existing tailings facility at Kemess; and other statements that express management's expectations or estimates of future plans and performance, operational, geological or financial results, estimates or amounts not yet determinable and assumptions of management. The Company cautions that forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company at the time of making such statements, are inherently subject to significant business, economic, technical, legal, political and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Market price fluctuations in gold, copper, and other metals, as well as increased capital or production costs or reduced recovery rates may render ore reserves containing lower grades of mineralization uneconomic and may ultimately result in a restatement of mineral reserves. The extent to which mineral resources may ultimately be reclassified as proven or probable mineral reserves is dependent upon the demonstration of their profitable recovery. Economic and technological factors, which may change over time, always influence the evaluation of mineral reserves or mineral resources. Centerra has not adjusted mineral resource figures in consideration of these risks and, therefore, Centerra can give no assurances that any mineral resource estimate will ultimately be reclassified as proven and probable mineral reserves. Mineral resources are not mineral reserves, and do not have demonstrated economic viability, but do have reasonable prospects for economic extraction. Measured and indicated mineral resources are sufficiently well defined to allow geological and grade continuity to be reasonably assumed and permit the application of technical and economic parameters in assessing the economic viability of the resource. Inferred mineral resources are estimated on limited information not sufficient to verify geological and grade continuity or to allow technical and economic parameters to be applied. Inferred mineral resources are too speculative geologically to have economic considerations applied to them to enable them to be categorized as mineral reserves. There is no certainty that mineral resources of any category can be upgraded to mineral reserves through continued exploration. Centerra's mineral reserve and mineral resource figures are estimates, and Centerra can provide no assurances that the indicated levels of gold or copper will be produced, or that Centerra will receive the metal prices assumed in determining its mineral reserves. Such estimates are expressions of judgment based on knowledge, mining experience, analysis of drilling results, and industry practices. Valid estimates made at a given time may significantly change when new information becomes available. While Centerra believes that these mineral reserve and mineral resource estimates are well established, and the best estimates of Centerra's management, by their nature mineral reserve and mineral resource estimates are imprecise and depend, to a certain extent, upon analysis of drilling results and statistical inferences, which may ultimately prove unreliable. If Centerra's mineral reserve or mineral reserve estimates for its properties are inaccurate or are reduced in the future, this could have an adverse impact on Centerra's future cash flows, earnings, results, or operations and financial condition. Centerra estimates the future mine life of its operations. Centerra can give no assurance that mine life estimates will be achieved. Failure to achieve these estimates could have an adverse impact on Centerra's future cash flows, earnings, results of operations, and financial condition. Additional risk factors and details with respect to risk factors that may affect the Company's ability to achieve the expectations set forth in the forward-looking statements contained in this news release are set out in the Company's latest 40-F/Annual Information Form and Management's Discussion and Analysis, each under the heading 'Risk Factors', which are available on SEDAR+ ( or on EDGAR ( The foregoing should be reviewed in conjunction with the information, risk factors and assumptions found in this news release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether written or oral, or whether as a result of new information, future events or otherwise, except as required by applicable law. A PDF accompanying this announcement is available at
