Centerra Gold Inc. (Centerra) and Kumtor Gold Company (KGC) have summed up their operating results in the third quarter of 2018. In the first nine months of 2018, KGC produced 306,467 ounces or 9,532.2 kg of gold and contributed more than 5.66 billion soms in taxes and mandatory payments.

Kumtor produced 122,445 ounces, or 3.81 tonnes of gold in the third quarter of 2018 compared to 138,561 ounces or 4.31 tonnes of gold in the same period of 2017.

Gold sales in the third quarter of 2018 were 119,521 ounces, or 3.72 tonnes. Total revenues from gold sales in the third quarter of 2018 were $142.8 million.

Kumtor has designed and initiated a two-year 60,000 metre drill program to test potential extensions of gold mineralization along the Kumtor trend. The program is focused within the Central, South-West and Sarytor pits and the North-East Target area.

Drilling in 2018 is planned to test near surface targets, including the Hockey Stick Zone, the north-west periphery of the Central Pit and the corridor between the Central Pit and South-West Pit.

During the third quarter of 2018, 30 diamond drill holes were completed for a total 8,318 metres, at the vicinity of the Central and South-West Pits and the North-East Target area. More than half of the holes (17 drill holes for a total 4,507 metres) were completed in the Central Pit area targeting the Hockey Stick Zone.

In the South-West area, 7 drill holes were completed for a total 2,297.7 metres. In the North-East area, 6 drill holes were completed for a total 1,512.4 metres.

In the fourth quarter of 2018, drilling will be focused on inferred near-surface mineralization in the north- east wall of the Central Zone, south-west extension of the Hockey Stick Zone and periphery of the North- East target.

Drill collar locations and associated graphics are available at the following link.

Scott Perry, President and Chief Executive Officer of Centerra stated, «Our sites had another safe quarter and we continue to roll out phase two of our Work Safe — Home Safe program, as we strive to zero harm within the work place.»

«During the quarter and earlier than planned, Kumtor accessed and started mining and processing the higher-grade material from the SB Zone in the Central Pit. As a result, Kumtor delivered better than planned results in the quarter, producing over 122,000 ounces of gold at all-in sustaining costs (before taxes) of $662 per ounce sold.

«We also lowered our expected all-in sustaining costs on a by-product basis (before taxes) at Kumtor to $700 to $750 per ounce sold and at Mount Milligan to $825 to $875 per ounce sold, which bring the Centerra’s consolidated all-in sustaining costs on a by-product basis (before taxes) to $782 to $829 per ounce sold,» Scott Perry stressed.