Centerra Gold Completes Acquisition of the Goldfield District Development Project

Rhea-AI Summary

Centerra Gold Inc. has successfully completed the acquisition of Gemfield Resources LLC, which owns the Goldfield District Project. This acquisition was previously announced and aims to enhance Centerra's portfolio in gold mining. The company operates two mines in Canada and Turkey and holds several projects including Goldfield in Nevada. Notably, Centerra's shares are traded under the ticker CGAU on NYSE. Further details on this acquisition can be accessed on the company's website.

Positive

• Acquisition of Goldfield District Project enhances gold mining portfolio.
• Strengthens operational foothold in the U.S. gold market.

Negative

• None.

TORONTO, Feb. 28, 2022 (GLOBE NEWSWIRE) -- 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 February 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 focused on operating, developing, exploring and acquiring gold properties in North America, Turkey, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Turkey. While the Company still owns the Kumtor Mine in the Kyrgyz Republic, it is currently no longer under the Company’s control. The Company also owns the Goldfield District Project in Nevada, United States, the Kemess Underground Project 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 on 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
toby.caron@centerragold.com

Shae Frosst
Manager, Investor Relations
(416) 204-2159
shae.frosst@centerragold.com

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.

A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/f1b7d677-8f9b-43b1-8d8d-eb76ed8aafa8 

FAQ

What is the significance of Centerra Gold's acquisition of Gemfield Resources?

The acquisition increases Centerra's gold resources and operational footprint in Nevada, strategically enhancing its gold mining portfolio.

When was the acquisition of Gemfield Resources finalized?

The acquisition was completed on February 28, 2022.

What are the expected benefits of the Goldfield District Project acquisition for CGAU?

The acquisition is expected to provide growth opportunities and improve Centerra's market position in the gold mining industry.

How does this acquisition affect Centerra's stock performance?

The acquisition may positively impact Centerra's stock by enhancing its asset base and potential revenue from gold production.