Centerra Gold Receives Permit Amendments for Mount Milligan to Continue Operations Through 2035; Meets Expedited Schedule as Per Commitment from the Province of British Columbia

Centerra Gold (NYSE: CGAU) confirmed that its Mount Milligan mine in central British Columbia received amended environmental assessment approvals and all related permits to continue operations through 2035.

Rhea-AI Summary

Centerra Gold (NYSE: CGAU) confirmed that its Mount Milligan mine in central British Columbia received amended environmental assessment approvals and all related permits to continue operations through 2035. Authorizations include a 10% plant throughput expansion starting in 2028 and increased stockpile capacity to improve plant feed flexibility. Mount Milligan was selected in January 2025 for expedited permitting by British Columbia. Centerra is advancing engineering and studies to support additional permits needed to realize a Pre-Feasibility Study mine life extension to 2045 and is pursuing a $186 million growth capital plan described as fully funded.

Positive

• Amended permits extend operations at Mount Milligan through 2035
• 10% plant throughput expansion authorized beginning in 2028
• Selection for expedited permitting by British Columbia (January 2025)
• $186 million growth capital plan described as fully funded
• Extended life expected to support >1,000 jobs and substantial regional economic benefits

Negative

• Additional permit authorizations are required to achieve the 2045 mine life outlined in the PFS
• 2045 extension remains conditional on future engineering, studies, and regulatory approvals

Argus Jan 21 session

-2.71% close to close Open Argus

Details

News Market Reaction – CGAU

On Jan 21, the first trading day after this news, CGAU closed 2.71% below the previous close.

Data tracked by StockTitan Argus for the Jan 21 session.

Market Context

This announcement confirms that Mount Milligan secured amended environmental assessment approvals an...

Analysis

This announcement confirms that Mount Milligan secured amended environmental assessment approvals and related permits to continue operations through 2035, along with a planned 10% throughput expansion from 2028. It connects directly to prior disclosures outlining a mine-life target to 2045 supported by a fully funded $186 million growth capital plan. Investors may watch future permitting steps, execution of the expansion, and any updates to Mount Milligan’s technical and economic profile as key markers of ongoing value realization.

Key Figures

Operations horizon: Through 2035 Plant throughput expansion: 10% increase Mine-life target: To 2045 +3 more

Operations horizon

Through 2035

Permits allow Mount Milligan operations to continue through 2035

Plant throughput expansion

10% increase

Expansion in plant throughput beginning in 2028

Mine-life target

To 2045

Pre-Feasibility Study outlines Mount Milligan mine life extension to 2045

Growth capital plan

$186 million

Fully funded growth capital plan linked to Mount Milligan PFS

Expedited projects

4 mining projects

Mount Milligan selected as one of four projects for expedited permitting

Employment

More than 1,000 workers

Extended life of mine expected to provide consistent employment

Historical Context

5 past events · Latest: Jan 06

5 events

1. Jan 06

   Earnings call notice

   24h Move

   +3.9%

   Announcement of Q4 2025 results release and conference call timing.

2. Nov 05

   Buyback program

   24h Move

   +1.7%

   TSX acceptance of renewed normal course issuer bid for up to 20.1M shares.

3. Oct 28

   Dividend declaration

   24h Move

   +1.7%

   Quarterly dividend of C$0.07 per share payable in November 2025.

4. Oct 28

   Earnings results

   24h Move

   +1.7%

   Strong Q3 2025 results with robust cash, free cash flow and project updates.

5. Oct 21

   Technical report

   24h Move

   -10.5%

   Filing of NI 43-101 technical report for Mount Milligan Mine.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

environmental assessment, throughput, pre-feasibility study

3 terms

environmental assessment regulatory

"has received an amended environmental assessment and all related permits"

An environmental assessment is a process that evaluates how a project or activity might impact the natural surroundings, such as air, water, land, and wildlife. It helps identify potential environmental risks and ensures that any negative effects are managed or minimized. For investors, this assessment provides insight into the sustainability and long-term viability of projects, which can influence their financial decisions and risk management.

throughput technical

"These authorizations include a 10% expansion in plant throughput beginning in 2028"

Throughput is the amount of stuff, like products or data, that a system can handle or move through in a certain period of time. For example, a factory’s throughput is how many items it produces each hour, and it matters because higher throughput usually means things are running efficiently and meeting demand quickly.

pre-feasibility study technical

"as outlined in a Pre-Feasibility Study."

A pre-feasibility study is an initial assessment that evaluates whether a proposed project or investment idea is worth exploring further. It involves examining basic factors like costs, potential benefits, and possible challenges, similar to conducting a preliminary check before deciding to invest more time and resources. This helps investors determine if pursuing the project further is practical and likely to be successful.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TORONTO, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) is pleased to confirm that its Mount Milligan Mine (“Mount Milligan”), located in central British Columbia, has received an amended environmental assessment and all related permits to allow for the continuation of its operations through 2035. These authorizations include a 10% expansion in plant throughput beginning in 2028 and increased stockpile capacity needed for plant feed flexibility. In January 2025, Mount Milligan was selected by the Province of British Columbia as one of four mining projects which would qualify for expedited permitting to support economic development in the province.

Centerra continues to progress engineering and other studies to support future permit authorizations which will be required to achieve the recently announced mine life extension of Mount Milligan to 2045 as outlined in a Pre-Feasibility Study. For additional details, refer to the news release published on September 11, 2025 titled “Centerra Gold’s Mount Milligan PFS Outlines Mine Life to 2045, Delivering Growth with a Fully Funded, Disciplined $186 Million Growth Capital Plan”.

President and CEO, Paul Tomory, commented, “Mount Milligan is the cornerstone of Centerra’s organic gold growth strategy in British Columbia. We are encouraged by the results of the process that has just concluded and believe that when government, First Nations, and industry are mutually committed to responsible resource development, we can achieve great things. The extended life of mine is expected to provide consistent employment to more than 1,000 workers and increase business opportunities to First Nations, surrounding communities, and the province, representing a significant economic driver for northern communities in British Columbia.”

The Honourable, David Eby, Premier of British Columbia, commented “The Mount Milligan mine expansion will ensure hundreds of good, family-supporting jobs are secure for years to come, while generating hundreds of millions of dollars in additional economic benefits for the region and beyond. Our government expedited this priority project by creating efficiencies without compromising our high environmental and safety standards or our commitment to consultation with First Nations. We’re going to keep that momentum going as we continue to advance major projects and make B.C. the economic engine of the new Canadian economy.”   

About Centerra Gold
Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada. Centerra’s shares trade on the Toronto Stock Exchange (“TSX”) under the symbol CG and on the New York Stock Exchange (“NYSE”) under the symbol CGAU. The Company is based in Toronto, Ontario, Canada.

For more information:

Lisa Wilkinson
Vice President, Investor Relations & Corporate Communications
(416) 204-3780
Lisa.Wilkinson@centerragold.com

Additional information on Centerra is available on the Company’s website at www.centerragold.com, on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov/edgar.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What permits did Centerra (CGAU) secure for Mount Milligan on January 21, 2026?

Centerra received an amended environmental assessment and all related permits allowing operations through 2035, plus approvals for a 10% throughput expansion and increased stockpile capacity.

When will the Mount Milligan plant throughput expansion for CGAU begin?

The authorized 10% plant throughput expansion is scheduled to begin in 2028.

Does the 2035 permit confirm the Mount Milligan mine life to 2045 for CGAU?

No; the 2035 permits allow operations through 2035 while Centerra advances studies and additional permits required to pursue the 2045 mine life from the PFS.

How does the permit update affect employment and local economy for Mount Milligan (CGAU)?

Centerra expects the extended life of mine to provide consistent employment to more than 1,000 workers and generate significant economic benefits for local communities.

Was Mount Milligan part of British Columbia's expedited permitting program for CGAU?

Yes; Mount Milligan was selected in January 2025 as one of four projects qualifying for expedited permitting to support provincial economic development.

What capital plan supports Mount Milligan’s future expansion for Centerra (CGAU)?

Centerra references a $186 million growth capital plan described as fully funded to support the Mount Milligan expansion outlined in the PFS.