This news release contains forward-looking information that is subject to the risk factors and assumptions set out on page 23 and in our Cautionary Note Regarding Forward-looking Information on page 31. It should be read in conjunction with the Company�s unaudited interim condensed consolidated financial statements and notes for the three and nine months ended September 30, 2012 and the associated Management�s Discussion and Analysis. The condensed interim financial statements of Centerra are prepared in accordance with International Accounting Standard 34, Interim Financial Reporting, as issued by the International Accounting Standards Board and the Company�s accounting policies as described in note 3 of its annual consolidated financial statements for the year ended December 31, 2011.

All figures are in United States dollars.

To view the Management�s Discussion and Analysis and the Financial Statements and Notes for the three and nine month periods ended September 30, 2012 please visit the following link:

http://media3.marketwire.com/docs/CG2012FSMDAQ3.pdf

Toronto, Canada, November 7, 2012: Centerra Gold Inc. (TSX: CG) today reported a net loss of $46.8 million, or $0.20 per share based on revenues of $68.8 million. The third quarter loss includes $19.3 million ($0.08 per share) of abnormal mining costs, and other operating expenses of $5.2 million ($0.02 per share) for the care and maintenance of the underground development project at Kumtor. For the same period in 2011, the Company recorded net earnings of $83.7 million or $0.35 per common share based on revenues of $278.4 million reflecting significantly higher gold production and sales.