Sale of Centerra’s Interest in the REN Joint Venture Closes

NEWS RELEASE

Sale of Centerra’s Interest in the REN Joint Venture Closes

TORONTO, CANADA – July 5, 2010 – Centerra Gold Inc. (TSX: CG) reports that the previously announced agreement to sell its 64% interest in the REN joint venture for US$35.2 million to Homestake Mining Company of California (a subsidiary of Barrick Gold Corporation) has closed.

Centerra is a growth-oriented, gold mining company focused on operating, developing, exploring and acquiring gold properties primarily in Asia, the former Soviet Union and other emerging markets worldwide. Centerra is the largest Western-based gold producer in Central Asia. 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 the Company’s website at www.centerragold.com and on SEDAR at www.sedar.com.

For further information, please contact:

John W. Pearson Vice President, Investor Relations Centerra Gold Inc.

416-204-1241 [email protected]

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