Centerra Gold Receives Pastureland Permit for the Öksüt Project
1 University Avenue, Suite 1500
Toronto, ON
M5J 2P1
tel 416-204-1953
fax 416-204-1954
www.centerragold.com
NEWS RELEASE
Centerra Gold Receives Pastureland Permit for the Öksüt Project
All figures are in United States dollars unless otherwise stated.
Toronto, Canada, January 11, 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 approval of its pastureland permit for the Öksüt Pr oject located in central Turkey.
OMAS has also received notice from the Kayseri Di rectorate of Food, Agriculture and Livestock
(“Directorate”) for payment of the necessary “grass fee” (approximately US$4 million) and a refundable
deposit to the Directorate to commence the land deliver y process which converts the pastureland to industrial
usage land. It is expected that the land delivery process may take up to 45 days.
Scott Perry, Chief Executive Officer of Centerra stated , “Receiving our pastureland permit is a testament to
the perseverance of OMAS’s staff and their efforts to complete the permitting process for the project. Öksüt
is expected to be another of the Company’s low-cost operating sites, and the completion of the permitting
process has now paved the way 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 Compan y’s expectations 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 regulator y or legal procedures in Turkey with respect to the
pastureland land delivery process; resource nationalism in cluding the management of external stakeholder
expectations; the impact of changes in, or to the mo re aggressive enforcement of, laws, regulations and
government practices in Turkey; the impact of chang es to, the increased enforcemen t of, environmental laws
and regulations relating to the Comp any’s operations; potential defects of title in the Company’s properties
that are not known as of the date hereof; the inability of the Company and its subsidiaries to enforce their
legal rights in certain circumstances; potential risks related to kidnapping or acts of terrorism; (B) risks
relating to financial matters, including: sensitivity of 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,
1 University Avenue, Suite 1500
Toronto, ON
M5J 2P1
tel 416-204-1953
fax 416-204-1954
www.centerragold.com
2
the accuracy of the Company’s production and cost estim ates, 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 facility; OMAS’s
ability to draw under and make payments including an y payments of principal and interest on its credit
facility depends on the cash flow of OMAS; and (C ) risks related to operational matters, including the
Company’s ability to attract and retain qualified pers onnel; the Company’s ability to manage its projects
effectively and to mitigate the potential lack of avai lability of contractors, budget and timing overruns and
project resources, potential delays in the issuance of permits; potential opposition to the Öksüt Project by
local communities 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 development or regulatory changes; the planning, design and costing of the key project
infrastructure such as power, water and access. See also “Risks that can affect our business” in the
Company’s most recently filed Annual 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 January 11, 2018. Centerra assu mes 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.
- end -