GlobeNewswire Inc | Nov 5, 2021 06:03AM EDT

November 05, 2021

TORONTO, Nov. 05, 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$16.4 million. The quarterly dividend is payable on December 3, 2021, to shareholders of record on November 19, 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, Turkey and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the kst Mine in Turkey. While the Company still owns the Kumtor Mine in the Kyrgyz Republic, it is currently no longer under the Companys control. The Company also owns the pre-development stage 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:

John W. PearsonVice President, Investor Relations(416) 204-1953john.pearson@centerragold.com

Toby CaronTreasurer and Director, Investor RelationsCenterra Gold Inc. (416) 204-1153toby.caron@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/34f1c984-1fb6-4d76-98b1-2a7e80892bb2