GlobeNewswire Inc | Aug 10, 2021 06:02AM EDT

August 10, 2021

TORONTO, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (Centerra) (TSX: CG) (NYSE: CGAU) announced today that its Board of Directors has approved a quarterly dividend of C$0.07 per common share approximately C$20.8 million or US$16.5 million. The quarterly dividend is payable on September 8, 2021, to shareholders of record on August 25, 2021. The dividend is an eligible dividend for Canadian income tax purposes.

The Company notes that going forward, in addition to the other factors that the Board of Directors normally considers in connection with the declaration of dividends, it will also need to carefully consider whether, and the extent to which, developments relating to the Kumtor Mine and / or COVID-19 affect its dividend program. In accordance with Centerras dividend policy, the timing and quantum of dividends are to be determined by the Board of Directors from time-to-time based on, among other things, the Companys operating results, cash flow and financial conditions, Centerras current and anticipated capital requirements, and general business conditions.

About Centerra GoldCenterra 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 mines, the Mount Milligan Mine in British Columbia, Canada and the kst Mine in Turkey, and its Molybdenum Business Unit in the United States. The Company owns the Kumtor Mine in the Kyrgyz Republic, which is currently not under the Companys control. 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:John W. PearsonVice President, Investor Relations(416) 204-1953john.pearson@centerragold.com

Additional information on Centerra is available on the Companys web site at www.centerragold.comand at SEDAR at www.sedar.comand EDGAR atwww.sec.gov/edgar.

A PDF accompanying this announcement is available at: http://ml.globenewswire.com/Resource/Download/0c4906e5-0355-4d83-8d11-df51dd4be47a