Centerra Gold - Operations

From 1999 to 2002 the REN Joint Venture completed 43 deep drill holes. This drilling led to the discovery of high-grade mineralization in 2000 and to the eventual discovery of the JB Zone in 2002.
In 2003 the REN joint venture increased its exploration efforts, drilling 22 holes with a combined length of 15,360 metres in the JB Zone, as well as undertaking geophysical and other technical surveys.
In 2004, the exploration programs included a groundwater test well, metalurgical test work on mineralized core samples, and drilling programs comprising 28 holes totalling 17,396 metres. As a result, the JB Zone was extended to the south and a new mineralized zone - the 69 Zone - was discovered.
In 2005, additional exploration lead to a 52% increase in contained gold in the indicated resource category from the year-end 2004 resource estimate. The increase is due to upgrading inferred resources in the 69 Zone through additional drilling, the completion of two additional holes into a high-grade section of the JB Zone and increasing the higher grade capping level from 40 g/t gold to 70 g/t gold.
From 2006 through to 2008, Centerra Gold continued drilling and exploring.
In 2009, Centerra signed a purchase agreement for sale of its interest with Rye Patch Gold Corp.
In 2010, Homestake Mining Company of California (a subsidiary of Barrick Gold Corporation) elected to exercise its pre-emptive right to acquire Centerra Gold U.S. Inc.'s 64% interest in the REN joint venture for US$35.2 million.
In July 2010 Centerra completed its sale transaction of the REN joint venture to Homestake Mining Company of California (a subsidiary of Barrick Gold Corporation) for US$35.2 million.

Updated July 7, 2010