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Centerra Gold moves ahead with development of Gatsuurt ore site

Friday, 28 December 2007

Centerra Gold Inc. (TSX:CG ) has registered its Gatssurt ore reserves with the Mongolian National Registry of Mineral Reserves. This paves the way to negotiating an Investment Agreement for the future development of the Gatsuurt deposit.

Centerra Gold intends to transport Gatsuurt ore to the Boroo mine's processing facility where a new plant will be constructed to process Gatsuurt ore.

"Now that the Gatsuurt ore reserves have been approved by and registered with the appropriate Mongolian agency, I am hopeful we can negotiate an acceptable Investment Agreement, which will allow us to develop the Gatsuurt deposit in a timely manner,” said Len Homeniuk, President and the CEO of Centerra Gold Inc. “This project is important not only to the Company but to the local communities in the Mandal and Bayangol Soums where we operate. It will create many new, well-paying jobs, increase local revenues and substantially increase the life of the Boroo mine."

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