Centerra Gold Announces Management and Board Changes

TORONTO, ONTARIO -- (Marketwire) -- 12/12/12 -- Centerra Gold Inc. (TSX: CG) announces today the following management and board changes at the Company:

Ronald H. Colquhoun, Vice President and Chief Operating Officer will be retiring February 1, 2013. President and CEO of Centerra Gold, Ian Atkinson, stated, "I and the Board of Directors, would like to thank Ron for his leadership contribution and to wish him well in his retirement."

Gordon D. Reid, Vice President Operations, has been promoted to the position of Vice President and Chief Operating Officer effective January 1, 2013. Gordon joined Centerra in October 2004 and was Vice President Business Development before moving to Bishkek in October 2007 and assuming the role of President of Kumtor Operating Company. He served in that role until March 2009 before returning to Toronto to assume his role as Vice President Operations. Gordon has over 30 years' experience in the mining sector, including extensive international, operations, project development and business development experience. Prior to joining Centerra, he held positions with Rio Algom, TVX Gold, Kilborn Engineering, Placer Dome and Noranda.

Also, retiring from the Board of Directors is Anthony J. Webb. Anthony joined the Board at the IPO of Centerra in 2004, and has been Chair of the Human Resources and Compensation Committee since then. The Board has appointed Ian Atkinson, President and CEO of Centerra Gold to fill this vacancy.

Mr. Steve Lang, Chair of the Board of Centerra Gold stated, "We wish to thank Tony for his contributions over the years at Centerra and wish him the best of luck in the future."

About Centerra

Centerra Gold Inc. 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

Additional information on Centerra is available on the Company's website at www.centerragold.com and on 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