Centerra Gold Receives Permit Amendments for Mount Milligan Mine Operations Through 2035

TORONTO, January 20, 2026 — Centerra Gold Inc. (“Centerra” or the “Company”) has publicly confirmed that its Mount Milligan Mine located in central British Columbia, Canada, has received a comprehensive set of amended environmental assessment approvals and related permits. These regulatory authorizations allow the mine to continue operations through the year 2035, providing important long-term certainty for the Company’s operations, workforce, and local communities.

This announcement marks a significant milestone for Centerra Gold and its growth strategy in British Columbia. By securing these permits, the Company reinforces its commitment to responsible resource development while enabling ongoing operational stability and future opportunity expansion.

About the Mount Milligan Mining Project

The Mount Milligan Mine is an open-pit copper and gold mining operation owned and operated by Centerra Gold in the Omenica Mining Division of northern British Columbia. This project plays a central role in Centerra’s portfolio as a cornerstone asset in its organic growth strategy within Canada’s mining sector.

Historically, the Mount Milligan Mine has produced significant quantities of copper and gold, contributing billions of dollars to the Canadian mining industry and supporting employment for local communities and First Nations partners. The recent permitting outcome extends the operational life of the mine and sets a framework for future technical work and development.

Permit Updates and Operational Extensions

Centerra Gold’s recent announcement highlights that the amended regulatory permissions include:

• Continuation of mine operations at Mount Milligan through 2035, providing long-term regulatory authorization to continue mining activities without interruption;
• A planned 10% increase in plant throughput, effective beginning in 2028, allowing for higher processing capacity and operational efficiency;
• Expanded stockpile capacity to improve plant feed flexibility and support ongoing production needs;
• Inclusion in British Columbia’s expedited permitting framework developed to support priority economic development mining projects;

These permit amendments reflect the joint work between Centerra and British Columbia’s regulatory agencies to ensure responsible development, environmental stewardship, and economic growth.

Expedited Permitting and Provincial Support

In January 2025, the Province of British Columbia selected Mount Milligan as one of just four mining projects that would qualify for an expedited permitting process. This expedited schedule was designed to streamline regulatory reviews and approvals, helping to accelerate responsible development efforts while maintaining rigorous environmental and safety standards.

British Columbia’s expedited permitting framework emphasizes responsible resource development, consultation with First Nations partners, and support for economic activity that benefits both local and provincial stakeholders. Mount Milligan’s inclusion in this program underscores the mine’s importance to the region’s long-term economic sustainability.

Perspectives from Government and Industry Leaders

The announcement drew strong statements of support from political leaders and company executives alike. The Honourable David Eby, Premier of British Columbia, highlighted the broader economic benefits of the permitting success, noting that Mount Milligan’s sustained operations will secure family-supporting jobs and generate hundreds of millions of dollars in economic activity for the region and beyond.

Premier Eby emphasized that the provincial government’s efforts to expedite priority projects like Mount Milligan were undertaken without compromising British Columbia’s high environmental and safety standards. This balance reflects a shared commitment between government authorities and industry to advance major resource development projects while protecting the environment and respecting Indigenous rights and local interests.

Paul Tomory, President and CEO of Centerra Gold, also issued a statement outlining the importance of Mount Milligan to the Company’s growth strategy. Tomory noted that the mine has become a central component of Centerra’s ambitions in British Columbia and praised the collaborative process that led to the permit amendments.

According to Tomory’s commentary, strong cooperation between government officials, First Nations partners, and industry stakeholders can create conditions for successful and sustainable resource development. He also highlighted the extended mine life as a key driver of long-term employment and business opportunities for First Nations communities, neighbouring towns, and the broader province.

Workforce and Local Economic Impacts

The amended permits are expected to provide stability for Mount Milligan’s workforce, particularly for the estimated 1,000 + skilled employees who rely on the mine for ongoing employment. Mining operations historically support a wide range of direct and indirect jobs, including roles in equipment, materials supply, engineering, environmental monitoring, construction, and administration.

In addition to employment, sustained mine operations will support local businesses and service providers in nearby communities such as Mackenzie and Fort St. James. These small communities often benefit significantly from regional mining activities, including retail services, accommodations, transportation, and other economic sectors.

First Nations partnerships also play a central role in Mount Milligan’s economic footprint. Through employment agreements, training programs, and business contracts, Indigenous communities have opportunities to benefit directly from mine operations. This cooperation aligns with broader corporate social responsibility goals and supports greater inclusion of Indigenous stakeholders in major resource projects.

Beyond 2035: Toward Extended Mine Life

While the recent permit amendments secure operations through 2035, Centerra Gold continues planning to extend the mine’s life beyond that date. A Pre-Feasibility Study (PFS) published in September 2025 outlines a potential extension of Mount Milligan’s life out to 2045, supported by an ambitious growth capital plan fully funded at approximately $186 million USD.

According to the PFS, additional engineering and environmental studies will be needed, along with further permit approvals, to realize the longer mine life extension target. These future steps will involve detailed project planning, resource evaluation, and regulatory review with British Columbia authorities.

The longer life extension would position Mount Milligan not just as a short-term operation but as a long-term asset capable of continuing to support local communities and Centerra’s broader strategic objectives.

Environmental Stewardship and Regulatory Compliance

Throughout the permitting process, environmental responsibility remained a central focus. The amended environmental assessment and associated permits reflect stringent review under both provincial and federal environmental legislation.

Environmental assessments are comprehensive processes that evaluate the potential impacts of mining operations on water quality, air emissions, wildlife habitats, and local ecosystems. These reviews involve scientific study, public consultation, and ongoing monitoring requirements to ensure that mining activities comply with established regulatory standards.

As part of its ongoing compliance obligations, Centerra will continue to implement advanced environmental management practices, water conservation measures, and other responsible mining protocols. This includes monitoring air and water emissions, protecting sensitive habitats, and working with Indigenous partners on conservation programs.

About Centerra Gold Inc.

Centerra Gold Inc. is a Toronto-based international gold and copper mining company with operations in North America, Turkey, and other global markets. The Company is publicly traded on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE) under the symbols CG and CGAU, respectively.

In addition to the Mount Milligan Mine, Centerra operates the Öksüt Mine in Turkey and owns other development and exploration assets such as the Kemess Project in British Columbia and the Goldfield Project in Nevada, United States.

Centerra’s strategic focus includes exploring and developing sustainable mining projects that generate long-term economic value for shareholders while prioritizing environmental stewardship, community engagement, and Indigenous partnerships.

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