Toronto, Canada, November 19, 2021: Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) announced today that it has filed under its profile on SEDAR a material change report related to the previously disclosed
determination made by Centerra on August 9, 2021, that a number of coordinated actions taken by the Kyrgyz Republic had ultimately resulted in the seizure of the Kumtor Mine by the Kyrgyz Republic and a loss of control of the mine by
Centerra. As a result of the loss of control, the Company deconsolidated the results of the Kumtor Mine from its results for the second quarter of 2021, recognized a loss on the change of control of US$926.4 million in the second quarter of 2021, ascribed no value to the Company’s interest in Kumtor Gold Company, its 100% owned subsidiary that holds the Kumtor Mine, and is now accounting for the Kumtor Mine as a discontinued operation. Full details regarding these matters are contained in the Company’s August 9, 2021 second quarter earnings press release.
This material change report has been filed at the request of the Ontario Securities Commission (the “OSC”) in connection with the OSC’s issue-oriented review of Centerra’s continuous disclosure record related to the developments with respect to the Kumtor Mine. As a result of the filing of this material change report, Staff of the OSC have advised the Company that it will be placed on the public list of Refiling and Errors in accordance with OSC Staff Notice 51-711 (Revised) Refilings and Corrections of Errors.
AND Centera Gold,
Centerra Gold Provides Update on Impact of Heavy Rains in British Columbia
Toronto, Canada, November 19, 2021: Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) reported today that due to the recent heavy rain, flooding and mudslides in British Columbia,
rail service between the Vancouver west coast terminals and the Company’s Mount Milligan Mine has been temporarily disrupted. The disruption affects the movement of Mount Milligan’s concentrate to Vancouver
terminals as well as the delivery of some parts and consumables to the mine. Production at the Mount Milligan Mine has not been impacted at this time; however, the overall impact on production and sales will be dependent
on, among other things, the duration of the rail disruption. Centerra is focused on protecting the health and safety of employees and contractors and we are continuing to closely monitor the situation.