Centerra Gold Receives Investment Incentive Certificate for the Öksüt Project
1 University Avenue, Suite 1500
Toronto, ON
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www.centerragold.com
NEWS RELEASE
Centerra Gold Receives Investment Incentive Certificate for the Öksüt Project
Toronto, Canada, February 12, 2018 : Centerra Gold Inc. (TSX: CG) (“Centerra” or the “Company”)
announced today that its wholly-owned Turkish subs idiary, Öksüt Madencilik Sanayi ve Ticaret A.S.
(“OMAS”) has received an Investment Incentive Certif icate (“IIC”) from the Turkish Ministry of Economy
for the development of the Company’s Öksüt Project in central Turkey.
The IIC provides tax related advantages such as a decr ease of corporate income tax rate from 20% to 2%,
VAT and customs duty exemptions, and government s upport for social security premiums and interest
payments on loans. This benefit has been reflected in the economic analysis contained in the Company’s
technical report titled “Technical Report on the Öksüt Gold Project, Turkey”, dated September 3, 2015, which
has an effective date of June 30, 2015.
Scott Perry, President and Chief Executive Officer of Centerra stated, “The approval of the investment
incentive certificate is another milest one for the Öksüt Project. Our local team worked diligently to maximize
the taxation benefits available to the Öksüt Project and I am very pleased that their efforts continue to deliver
benefits for the project’s future development.”
Construction of the Öksüt Project is subject to Board approval, which the Company expects to obtain in late
February, at which time additional information will be provided regarding 2018 expenditures and timing.
Cautionary Note Regarding Forward-looking Information
Information contained in this news release and the docu ments referred to herein which are not statements of
historical facts, may be “forward-looking information” for the purposes of Canadian securities laws. Such
forward looking information involves risks, uncertainti es and other factors that could cause actual results,
performance, prospects and opportunities to differ ma terially from those expressed or implied by such
forward looking information. The words “believe”, “expect”, “envision”, “target”, “intends”, “estimate”,
“may”, “will”, and similar expressions identify forward-looking information. These forward-looking
statements relate to, among other things, the Company’s expectations that it will obtain Board approval in late
February to develop the Öksüt mine and the related timing for such development and construction.
Forward-looking information is necessarily based up on a number of estimates and assumptions that, while
considered reasonable by Centerra, are inherently s ubject to significant political, business, economic and
competitive uncertainties and contingencies. There may be factors that cause results, assumptions,
performance, achievements, prospects or opportunities in future periods not to be as anticipated, estimated or
intended. These factors include: (A) changes in regulatory or legal proce dures in Turkey; resource
nationalism including the management of external stakehol der expectations; the impact of changes in, or to
the more aggressive enforcement of, laws, regulations and government practices in Turkey; the impact of
changes to, the increased enforcement of, environmental laws and regulations relating to the Company’s
operations; potential defects of title in the Company’s pr operties that are not known as of the date hereof; the
inability of the Company and its subs idiaries to enforce their legal right s in certain circumstances; potential
risks related to kidnapping or acts of terrorism; (B) ri sks relating to financial matte rs, including: sensitivity of
1 University Avenue, Suite 1500
Toronto, ON
M5J 2P1
tel 416-204-1953
fax 416-204-1954
www.centerragold.com
2
the Company’s business to the volatility of gold prices, the imprecision of the Company’s mineral reserves
and resources estimates and the assumptions they rely on, the accuracy of the Company’s production and cost
estimates, the impact of restrictive covenants in the OMAS’s credit facility on OMAS’s operations, the
Company’s ability to obtain future financing, the impact of global financial conditions, the impact of currency
fluctuations, the effect of market conditions on the Company’s short-term investments, OMAS’s ability to
extend the deadlines in its credit fa cility; OMAS’s ability to draw under and make payments including any
payments of principal and interest on its credit facil ity depends on the cash flow of OMAS; and (C) risks
related to operational matters, including the Company’ s ability to attract and re tain qualified personnel; the
Company’s ability to manage its projects effectively a nd to mitigate the potential lack of availability of
contractors, budget and timing overruns and project resour ces, potential delays in the issuance of permits;
potential opposition to the Öksüt Project by local commun ities or civil groups related to concerns over water
usage in competition with agriculture, water quality, environmental impact from cyanide use in gold leaching,
visual impacts, acoustic impacts, ambient air impacts or failure of the company to agree to local demands;
potential material increases in project development or operation costs due to increases in key consumables,
inflation, imposed demands for infrastructure developmen t or regulatory changes; the planning, design and
costing of the key project infrastructure such as power, wa ter and access. See also “Risks that can affect our
business” in the Company’s most recently filed A nnual Information Form, available on SEDAR at
www.sedar.com.
There can be no assurances that forward-looking informa tion and statements will prove to be accurate, as
many factors and future events, both known an d unknown could cause actual results, performance or
achievements to vary or differ materially, from the resu lts, performance or achievements that are or may be
expressed or implied by such forward-looking statements contained herein or incorporated by reference.
Accordingly, all such factors should be considered care fully when making decisions with respect to Centerra,
and prospective investors should not place undue relian ce on forward-looking information. Forward-looking
information is as of February 12, 2018. Centerra a ssumes no obligation to update or revise forward-looking
information to reflect changes in assumptions, changes in circumstances or any other events affecting such
forward looking information, except as required by applicable law.
About Centerra
Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring
and acquiring gold properties in North America, Asia and other markets worldwide. Centerra operates two
flagship assets, the Kumtor Mine in the Kyrgyz Repu blic and the Mount Milligan Mine in British Columbia,
Canada and 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, Ontario, Canada.
For more information:
John W. Pearson
Vice President, Investor Relations
(416) 204-1953
Additional information on Centerra is available on the Company’s web site at www.centerragold.com and at
SEDAR at www.sedar.com.
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