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Centerra Gold Completes Acquisition of the Goldfield District Development Project

Mergers & Acquisitions Property Options & Staking

1 University Avenue, Suite 1500

Toronto, ON

M5J 2P1

tel 416-204-1953

fax 416-204-1954

www.centerragold.com

NEWS RELEASE

Centerra Gold Completes Acquisition of the

Goldfield District Development Project

TORONTO, CANADA – February 28, 2022 – Centerra Gold Inc. (“Centerra” or the “Company”)

(TSX: CG) (NYSE: CGAU) is pleased to announce the completion of the previously announced

acquisition of Gemfield Resources LLC, owner of the Goldfield District Project (“Goldfield”), from

Waterton Nevada Splitter, LLC (“Waterton”).

Further details on the transaction can be found in Centerra’s F ebruary 22, 2022 news release and

in the presentation available on Centerra’s website:

https://www.centerragold.com/investor/events-presentations

About Centerra Gold

Centerra Gold Inc. is a Canadian-based gold mining company focu sed on operating, developing,

exploring and acquiring gold properties in North America, Turke y, and other markets worldwide.

Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt

Mine in Turkey. While the Compa ny still owns the Kumtor Mine in the Kyrgyz Republic, it is

currently no longer under the Company’s control. The Company al so owns the Goldfield District

Project in Nevada, United States, the Kemess Underground Projec t in British Columbia, Canada,

and owns and operates the Molybdenum Business Unit in the United States. Centerra's shares trade

on the Toronto Stock Exchange (“TSX”) under the symbol CG and o n the New York Stock

Exchange (“NYSE”) under the symbol CGAU. The Company is based in Toronto, Ontario, Canada.

For more information:

Toby Caron

Treasurer and Director, Investor Relations

(416) 204-1694

[email protected]

Shae Frosst

Manager, Investor Relations

(416) 204-2159

[email protected]

Additional information on Centerra is available on the Company’ s web site at

www.centerragold.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar .