Ms. Lisa Wilkinson reports

CENTERRA GOLD ANNOUNCES QUARTERLY DIVIDEND OF C$0.07 PER COMMON SHARE

Centerra Gold Inc. has approved a quarterly dividend of seven cents per common share -- approximately $15.0-million, or $11.5-million (U.S.). The quarterly dividend is payable on Aug. 29, 2023, to shareholders of record on Aug. 15, 2023. 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, current and anticipated capital requirements, and general business conditions.

About Centerra Gold Inc.

Centerra Gold is a Canadian-based gold mining company focused on operating, developing, exploring, and acquiring gold and copper properties in North America, Turkiye and other markets worldwide. Centerra operates two mines: the Mount Milligan mine in British Columbia, Canada, and the Oksut mine in Turkiye. The company also owns the Goldfield district project in Nevada, United States, the Kemess underground project in British Columbia, Canada, and owns and operates the molybdenum business unit in the United States and Canada.