Centerra Gold Announces 90,318 ounces of gold from the Boroo mine

Ulaanbaatar /MONTSAME/ Centerra Gold Inc announced Monday that its 2013 consolidated gold production totaled 690,720 ounces. According to news published on Centerra Gold’s website, the consolidated gold production includes 90,318 ounces of gold from the Boroo mine, located in Mongolia. During the fourth quarter of 2013, consolidated gold production was 362,234 ounces, including 14,104 ounces of gold produced by the Boroo mine. Ian Atkinson, President and CEO of Centerra stated, "The Boroo operation continued to perform well in the fourth quarter, exceeding our production guidance for the year by 5,000 ounces due primarily to higher than expected recoveries and head grade." "For 2014 we are estimating gold production to be in the range of 595,000 to 645,000 ounces. We have not included any production from Gatsuurt in our production guidance for 2014 due to the associated uncertainty of approval and commissioning of the project. Centerra's projected consolidated all-in sustaining cost per ounce sold1 for 2014 is within a range of $875 to $950 and consolidated all-in cost per ounce sold1 is $989 to $1,074. This demonstrates the Company's good margins at the current gold price and leverage to increases in the gold price," he concluded. At the Boroo mine, gold production is forecast to be approximately 45,000 ounces. The forecasted annual production at Boroo includes about 20,000 ounces from heap leaching and 25,000 ounces from the mill. The Boroo mill is expected to process ore stockpiles during the year with an average grade of 0.70 g/t gold. The 2014 forecast assumes no mining activities at Boroo or Gatsuurt, and no gold production from Gatsuurt.