Centerra Gold has appointed Gordon Reid as its new chief operating officer after Ronald Colquhoun announced his retirement from the position. His retirement will be effective from February 1.

Centerra president Ian Atkinson says, “I and the Board of Directors would like to thank Ron for his leadership contribution and to wish him well in his retirement.”

Gordon Reid is currently the vice president of operations for the company after joining Centerra in 2004. He has previously held the role of president of the Kumtor operating company and has more than 30 years’ experience in the mining sector, working for Placer Dome, Noranda and Rio Algom during this time.

Anthony Webb has also retired from the Board of Directors, with Ian Atkinson to fill the vacancy.

In other news, Centerra is acquiring the remaining 30% stake in the Oksut Gold Project in central Turkey from Stratex International. Once the transaction is complete, Centerra will own 100% of the project after forming a joint venture in 2009 with Stratex to explore Oksut.

“This transaction consolidates our interest in the Oksut project as we expect to transition the project from exploration to development. Our immediate objective is to define the limits of the Ortacam North deposit and complete enough drilling to calculate a resource estimate by the end of the year as we continue metallurgical and environmental baseline work,” says Ian Atkinson.

Centerra has contributed almost $13 million to the project during the last four years, mostly funding a 91 drill hole program over 26,034 metres. Highlights of the 2012 program include 3.33 grams/tonne gold over 196.3 metres and 2.46 grams/tonne gold over 248 metres.

www.centerragold.com

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