Centerra Gold Appoints New Directors
TORONTO,
ONTARIO - December 30, 2009 - Centerra Gold
Inc. (TSX:CG) is pleased to announce the
appointment of John W. Lill, Aleksei A. Eliseev and Iurii I. Kosvin to
strengthen its Board of Directors, expanding the Board to eleven members.
The appointments follow the completion of the secondary offering pursuant
to which 88,618,472 Centerra common shares held
by Cameco Corporation were distributed along
with the transfer by Cameco of 25,300,000
common shares to be released from custodial arrangements to Kyrgyzaltyn JSC.
Mr. Lill
has been appointed to Centerra's Board of Directors
to replace O. Kim Goheen who upon completion of
the offering stepped down from the Board. Mr. Lill
has more than 30 years experience in the mining industry in both
operating and senior executive roles. Over Mr. Lill's
career he has held leadership roles with overall responsibility, at
various times, for more than twenty different major mines representing
some of the world's largest and most efficient mining and processing
operations. Most recently he served as President and CEO of FNX Mining
Company of Toronto, Ontario. He has a B.Sc.(Hons)
Mining Engineering degree from Queen's University and is a professional
engineer registered with the Ontario Professional Engineers and APEGGA
(Alberta).
Mr. Eliseev is being
appointed to Centerra's Board of Directors as one of the Government of
the Kyrgyz Republic's representatives and is a replacement for current
Board member Almazbek S. Djakypov who has resigned. Mr. Eliseev, a Kyrgyz
citizen, has extensive experience in senior management positions in the
banking and legal industry. He is a lawyer and currently is Chairman of
the Board of Directors of Kyrgyzaltyn JSC, Centerra's largest individual
shareholder, and Deputy Chairman of the Central Agency for Development,
Investment and Innovation of Kyrgyz Republic, a state agency responsible
for coordinating the Government's initiatives and strategy for the
economic development of the Kyrgyz Republic. Additionally, Mr. Eliseev
serves as Managing Director on behalf of the Kyrgyz Republic, for the
European Bank for Reconstruction and Development. Mr. Eliseev received a
Law Degree from the Kyrgyz-Russian Slavic University in July 1998.
Mr. Kosvin is the Kyrgyz
Government's second representative on Centerra's Board of Directors and
in accordance with the Restated Shareholders Agreement among Centerra and
Kyrgyzaltyn dated June 6, 2009; he is independent of the Kyrgyz
Government. Mr. Kosvin, a citizen of the Ukraine, is a businessman based
in Kyiv, Ukraine. Mr. Kosvin has extensive business experience and
studied engineering at the Kyiv Polytechnic Institute, Ukraine.
About
Centerra
Centerra
Gold Inc. is a growth-oriented, gold
Company focused on acquiring, exploring, developing and operating gold
properties primarily in Asia, the former Soviet Union and other emerging
markets worldwide. Centerra is a leading North American-based gold
producer and the largest Western-based gold producer in Central Asia and
the former Soviet Union. Centerra's shares trade on the Toronto Stock
Exchange under the symbol CG. The Company is based in Toronto, Canada.
Additional information
Additional information on
Centerra is available on SEDAR at www.sedar.com
and the Company's website at www.centerragold.com.
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