Centerra Gold's Kumtor Operation Affected by Road Block
TORONTO, ONTARIO -- (Marketwired) -- 05/28/13 -- Centerra Gold Inc. (TSX: CG) today reported that the road leading to the Kumtor mine has been blocked by an illegal community protest. The road block is interfering with the movement of supplies and personnel to and from the mine. Mine operations are currently not impacted. Management of the Company is working with the local authorities and the Government of the Kyrgyz Republic to resolve this situation.
While the Company expects that it will be able to resolve this situation allowing for the movement of supplies and personnel to and from the mine, the Company cannot give assurances in this regard. If the road block is not removed in a timely manner there may be a material negative impact on the Company's operations, including its ability to mine the ice and waste to maintain stable pit conditions, manage the relocation of certain mine infrastructure (as described in the Company's news release of May 3, 2013), and its gold production and financial results.
Cautionary Note Regarding Forward-looking Information
This news release and the documents referred to herein contain statements which are not statements of current or historical facts and are "forward-looking information" within the meaning of applicable Canadian securities laws. Such forward-looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Wherever possible, words such as "believe", "expect", "plan", "continue", "may", "will", "could", and other similar expressions have been used to identify forward-looking information.
These forward-looking statements relate to, among other things, the Company's ability to resolve the current road block. Although the forward-looking information in this news release reflects Centerra's current beliefs as of the date of this news release based on information currently available to management and based upon what management believes to be reasonable assumptions, Centerra cannot be certain that actual results, performance, achievements, prospects and opportunities, either expressed or implied will be consistent with such forward-looking information. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Centerra, are inherently subject to significant political, business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information. Centerra assumes 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 is a gold mining company focused on operating, developing, exploring and acquiring gold properties primarily in Asia, the former Soviet Union and other emerging markets worldwide. Centerra is a leading North American-based gold producer 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 headquartered in Toronto, Ontario, Canada.
Additional information on Centerra is available on the Company's web site at www.centerragold.com and at SEDAR at www.sedar.com.
Contacts:
Centerra Gold Inc.
John W. Pearson
Vice President, Investor Relations
(416) 204-1241
john.pearson@centerragold.com
www.centerragold.com