Centerra Gold Exceeds 2015 Production Guidance

TORONTO, ON - Centerra Gold Inc. reported that it exceeded its 2015 annual production guidance and that consolidated gold production for 2015 totaled 536,921 ounces. This production total includes 520,695 ounces of gold from the Kumtor mine, located in the Kyrgyz Republic and 16,226 ounces of gold from the Boroo mine, located in Mongolia. During the fourth quarter of 2015, consolidated gold production was 133,665 ounces, including 130,611 ounces of gold produced by the Kumtor mine and 3,054 ounces of gold produced by the Boroo mine.

Scott Perry, Chief Executive Officer of Centerra stated, "I'm very pleased to report that both our operations exceeded their production guidance for the year and that we ended the year with over $535 million in cash and short-term investments. For 2016 we are estimating gold production to be in the range of 480,000 to 530,000 ounces. At Kumtor this year, we are expecting gold production to be weighted more towards the second half of the year as we access the higher grade portion of the SB Zone at the end of the second quarter. Centerra's projected consolidated all-in sustaining cost per ounce sold for 2016 is expected to be in the range of $877 to $968."

"We are continuing to advance the àksƒt Project in Turkey. Work on the detailed engineering and procurement of contractors and equipment is ongoing. Our site project management team is now in place and will be moving to our offices in Develi, which is approximately 20 minutes from the site, on February 1st," he concluded.