Centerra Comments on the Report of a Kyrgyz Parliamentary Commission and Parliamentary Discussions

TORONTO, ONTARIO, Jun 22 (MARKET WIRE) --

This news release contains forward-looking information that is subject to
the risk factors and assumptions set out on page 2 and in our Cautionary
Note Regarding Forward-looking Information on page 2.

Centerra Gold Inc. (TSX:CG) announced that the Kyrgyz Parliament held a
session today to discuss a report released on June 18, 2012 by a
Parliamentary Commission regarding Centerra's Kumtor gold project. The
Commission was established to review Kumtor's compliance with relevant
operational, environmental, health and safety and community standards.

Centerra's President and CEO, Ian Atkinson, commented: "The report is
more than 300 pages and we have not yet completed our detailed review.
The report makes a number of allegations including claims of substantial
environmental damage by Kumtor. Judging from its summary conclusions,
however, Centerra believes that the report's findings are without merit."

"The Kumtor project has been operating without interruption since 1997.
The project is in full compliance with Kyrgyz laws, meets or exceeds
Kyrgyz and international environmental, safety and health standards, and
serves as a model for other mining projects in the Kyrgyz Republic and
internationally. It has been the subject of systematic compliance audits
by both Kyrgyz and international experts, who have confirmed its high
level of performance."

The Kyrgyz Parliament is continuing today to discuss the report. Centerra
is not able at this time to comment on the likely outcome of those
discussions but will do so as and when appropriate.

In 2009, Centerra, Kumtor and the Kyrgyz Republic signed comprehensive
agreements governing all aspects of the project (the New Agreements). The
New Agreements were approved by all relevant Kyrgyz governmental
authorities, including the Kyrgyz Parliament and the Constitutional
Court, and form a solid foundation for the successful operation of the
project.

Kumtor is a significant employer and tax-payer in the Kyrgyz Republic and
a key contributor to the Kyrgyz economy generally. The company has
benefited from a close and constructive dialogue with the Kyrgyz
authorities over many years and remains committed to continuing to work
with them to resolve any issues in accordance the New Agreements.

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
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 based in Toronto, Ontario, Canada.

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

Cautionary Note Regarding Forward-looking Information

Information contained in this news release which is not statements of
historical facts, and the documents incorporated by reference herein, may
be "forward looking information" for the purposes of 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. The words "believe", "expect",
"anticipate", "contemplate", "target", "plan", "intends", "continue",
"budget", "estimate", "may", "will", "schedule" and similar expressions
identify forward-looking information. These forward-looking statements
relate to, among other things, the outcome of the discussions being held
at the Kyrgyz Parliament regarding the report, the review process by
Centerra of the report and the discussions to be held with the Kyrgyz
Republic Parliament thereon.

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. Such factors include, among
other things: the sensitivity of the Centerra's business to the
volatility of gold prices; the political risks associated with Centerra's
principal operations in the Kyrgyz Republic; the impact of changes in, or
to the more aggressive enforcement of, laws, regulations and government
practices in the jurisdictions in which Centerra operates, and such other
factors as described under the heading "Risk Factors" in Centerra's
annual information form for the year ended December 31, 2011 available at
www.sedar.com.

There can be no assurances that forward looking information and
statements will prove to be accurate, as many factors and future events,
both known and unknown could cause actual results, performance or
achievements to vary or differ materially, from the results, performance
or achievements that are or may be expressed or implied by such forward
looking statements contained herein or incorporated by reference.
Accordingly, all such factors should be considered carefully when making
decisions with respect to Centerra, and prospective investors should not
place undue reliance on forward looking information. Forward looking
information is as of June 22, 2012. 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.

Contacts:
Centerra Gold Inc.
John W. Pearson
Vice President, Investor Relations
(416) 204-1241
john.pearson@centerragold.com

Centerra Gold Inc.
Ian Atkinson
President & CEO
(416) 204-1959
ian.atkinson@centerragold.com

Centerra Gold Inc.
Jeffrey Parr
Vice President & Chief Financial Officer
(416) 204-1369
jeff.parr@centerragold.com
www.centerragold.com

Copyright 2012, Market Wire, All rights reserved.

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