Centerra Gold Inc. announced today (on
May 16, 2012) its first quarterly dividend. The Board of Directors has
authorized a dividend of Cdn$0.04 per common share (approximately US$9.4
million at the current exchange rate). The dividend of Cdn$0.04 per common
share is payable on June 15, 2012 to shareholders of record on May 31, 2012.
The ex-dividend date will be May 29, 2012.

The dividend is an eligible dividend
for Canadian income tax purposes.

In accordance with Centerra”s
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
Company”s operating results, cash flow and financial conditions, Centerra”s
current and anticipated capital requirements, and general business conditions.
While Centerra currently intends to pay quarterly dividends to its
shareholders, there are no assurances in this regard.

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.

Source: Market Wire