Bank of America Merrill Lynch 2010 Global Metals and Mining ConferenceSteve Lang, President and CEO

May 2010 2

Caution Regarding Forward-Looking Information

This presentation and the documents incorporated by reference herein, contain statements which are not statements of current or historical facts and are “forward-looking information” within the meaning of applicable Canadian securities laws. Such forward looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward looking information. Wherever possible, words such as “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “forecast”, “projections”, “estimate”, “may”, “will”, “schedule”, “potential”, “strategy” and other similar expressions have been used to identify forward looking information. These forward-looking statements relate to, among other things, Centerra’s expectations regarding future growth, results of operations (including, without limitation, future production and sales, and operating and capital expenditures), performance (both operational and financial), business and political environment and business prospects (including the timing and development of new deposits and the success of exploration activities) and opportunities.

Although the forward-looking information in this presentation reflects Centerra’s current beliefs as the date of this presentation based upon information currently available to management and based upon what management believes to be reasonable assumptions, Centerra cannot be certain that actual results, performance, achievements, prospects and opportunities, either expressed or implied, will be consistent with such forward-looking information. Forward looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Centerra, are inherently subject to significant political, business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward looking information. Factors that could cause actual results or events to differ materially from current expectations include, among other things: risks relating to the recent political and civil unrest in the Kyrgyz Republic, risks related to the creep of ice and waste movement into the Kumtor open-pit, the resolution of issues at the Boroo mine raised by the Mongolian SSIA concerning alluvial reserves and matters relating to the suspension of the Boroo licenses in June 2009, the potential impact of Mongolian legislation prohibiting mineral activity in water basins and forest areas on the Gatsuurt project, the threatened termination of the stability agreement with the Mongolian Government in relation to the Boroo mine, the receipt of a final permit to operate the heap leach operation at the Boroo mine, fluctuations in gold prices, replacement of mineral reserves, reduction in reserves related to geotechnical risks, ground movements, political risk, nationalization risk, changes in laws and regulations, political civil unrest, labour unrest, legal compliance costs, reserve and resource estimates, production estimates, exploration and development activities, competition, operational risks, environmental, health and safety risks, costs associated with reclamation and decommissioning, defects in title, seismic activity, cost and availability of labour, material and supplies, increases in production and capital costs, permitting and construction to raise the tailings dam height and increase the capacity of the existing Kumtor tailings facility, the ability to renew and obtain licenses, permits and other rights, illegal mining, enforcement of legal rights, decommissioning and reclamation cost estimates, future financing and personnel and the receipt of all permitting and commissioning requirements for the Gatsuurt mine by mid-2010. In addition, material assumptions used to forecast production and costs include those described above under the heading “Material Assumptions” in the Company’s first quarter news release. There may be other factors that cause results, assumptions, performance, achievements, prospects or opportunities in future periods not to be as anticipated, estimated or intended. See “Risk Factors” in the Company’s 2009 Annual Information Form, Annual Management’s Discussion and Analysis and most recently filed prospectus available on SEDAR at www.sedar.com.

There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results, performance or achievements to vary or differ materially, from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained in this presentation. Accordingly, all such factors should be considered carefully when making decisions with respect to Centerra, and prospective investors should not place undue reliance on forward-looking information. Forward-looking information and assumptions are as of April 28, 2010. Centerra assumes no obligation to update or revise forward- looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.All figures are in United States dollars unless otherwise stated.

May 2010 3

Kumtor 100%

Kyrgyz Republic MongoliaBoroo 100%

Gatsuurt 100%

Operating Locations

• 2009 Gold Production 675,592 oz

• 2010 Expected Gold Production of 640,000 to 700,000 oz

May 2010 4

Kyrgyz Republic

Recent Events

• Civil unrest results in ousting of President

• New interim government formed

– Led by Roza Otunbayeva

• Government to honour commitments and agreements

• Production at Kumtor not impacted

4

May 2010 5

Highlights – 2009

• Agreement on New Terms

• Successful completion of Secondary Offering

• 26% increase in reserves

• Acceleration of Kumtor underground development

• Cash position doubled to $323 million at year-end

Cash Flow from Operations(Millions US$)

41

166

246

2007 2008 2009

May 2010 6

Centerra – Reserves and Ounces MinedA

u O

un

ces

( ‘0

00

’s )

Year

Reserves

Cumulative Ounces Mined Since 2003

Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technicalreports filed on SEDAR.

7.3 m oz

May 2010 7

N E W A G R E E M E N T:

Share and Ownership Profile

• Symbol CG on the TSX

• 234.9 million outstanding shares

• Market capitalization C$2.7 Billion

at May 3rd, 2010

New CG Ownership Profile

US19%

Europe21%

Kyrgyzaltyn33%

Canada27%

May 2010 8

First Quarter Highlights

Gold production (‘000 oz) 211 103

Total cash cost ($/oz) $340 $871

Average realized gold price ($/oz) $1,112 $915

Revenues $256M $98M

Net Earnings $122M $(20)M

Cash from operations $82M $11M

Cash and short-term investments $384M $155M

Q12010

Q12009

Please refer to April 28, 2010 news release and MDA for the periods ending March 31, 2010 and 2009 and Caution Regarding Forward-Looking Information.

May 2010 9

Significant Valuation Gap

$9.9 B$8.5 B$8.1 B$8.0 B$7.6 B

$2.7 B$2.3 B$1.7 B

$3.4 B

$1.0 B

$6.8 B

Gammon Alamos NewGold

Centerra Petro-pavlovsk

Iamgold Randgold LihirGold

Yamana Eldorado Agnico

Market Cap of mid-tier gold producers (Cdn$ - May 3, 2010)

2009

Gold Production (000’ oz)

179 302 477 479 343 493676 939137 1,100 1,020*GEO

May 2010 10

Boroo

2009

• 151,000 oz. gold

• Cash cost $456/oz

Two Solid Growth Platforms

• Financial resources • Operating expertise • Track record

Kumtor

2009

• 525,000 oz. gold

• Cash cost $460/oz

May 2010 11

K U M T O R

Concession Area

• Expanded mining concession

• Area of 26,300 hectares

1st Decline Portal2nd Decline Portal

May 2010 12

K U M T O R

Underground Development

Decline2 Progress to March 31, 2010.

Decline1 Progress to March 31, 2010.

May 2010 13

Current Position of Decline 1

Current Position of Decline 2

Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

Sec

-10

Sec

-26

No Data

No Data

K U M T O R

Central Pit Longitudinal Section Q1 2010

May 2010 14

K U M T O R

Kumtor – Section -26

Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

NW SE

May 2010 15

NW SE

Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

K U M T O R

Kumtor – Section -10

May 2010 16

K U M T O R

Central Pit Area

KS10 Final Pit

SB Underground High-Grade Zone

1.8M oz Inferred @ 17.0 g/t

Stockwork Underground Zone

0.6M oz Inferred @ 11.4 g/t

Approx. 1 kilometre

1st Portal

Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

Approx. 1.5 kilometre

2nd Portal

North

570m

475m425m max

strike length beneath pit

width up to 50m, average approx. 20m

width up to 50m, average approx. 20m

390m max strike length beneath pit

Current Location

Current Location

May 2010 17

BordooGeophysical

surveys, follow up drilling

SarytorTest for high grade

at depth

SouthwestTest for high grade at depth

MuzdusuuTest for mineralization in FW stratigraphy

NortheastTest for near surface mineralization

on known structure

PetrovTest NE Extension of structure

Central Pit

AkbelGeophysical surveys,

follow up drilling

K U M T O R

Exploration Targets, Kumtor Concession Area

May 2010 18

Section 426

Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

K U M T O R

Northeast Drillhole Plan Map Q1 2010

May 2010 19

15.23 g/t

9.31 g/t23.4 m

15.23 g/t11.2 m

[ incl ]

5.06 g/t19.8 m

15.61 g/t3.0 m

[ incl ]

3.98 g/t10.8 m

10.89 g/t3.5 m

[ incl ]

2.34 g/t9.2 m

Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

NW SE

K U M T O R

Northeast Section 426

May 2010 20

K U M T O R

New Exploration Area

Kumtor Concession Area: 26,300 ha

Karasay License Area: 13,900 ha

May 2010 21

25 26 km242320 21 2218 1915 16 1711 12 14138 9 104 5 6 71 2 30

3800

3400

SSEBESHMOYNOK

RIDGE

KARASAYVALLEY

KARASAYPROSPECT

TARGET

SCHEMATIC GEOLOGICAL CROSS-SECTION - LINE A-A'(vertical exaggeration 1:2)

AKSHYRAKRIDGE

KARASAYGLACIER

KUMTORDEPOSIT

4600NNW

KUMTORVALLEY

4200

NIK

OLA

EVLI

NE

ATB

ASH

I-IN

ILC

HEK

FAU

LT

S2-D1C2

S1?C3S2-D1Pg-N

D2-3S1?

VPR1?sr

C1-2 V R3-VPR1?sr

Pg-N C1

5.000

kilometers

0

Known mineralization zone

Other major Paleozoic faults

Supposed mineralization zone

Major Alpine steep faults

Recent sediments (QIII-QIV)

Major Alpine thrust

Major Paleozoic thrust

Glacier

Ophiolitic melange (O?)

Sericitic shale (S2-D1); hornfels

Basalt (S2-D1); hornfels

Specled shale (O3-S1?)

Quartz-biotite schist, metabasalt (O-S1?)

Limestone (C1-2); sandstone (C1)

Red clay, conglomerate-breccia (Pg-N) Red-brown conglomerate (C2)

Marblized limestone with gypsum (D2-3)

Arkoses, tuffs, basalts, rhyolites (R3-V) Granite, granodiorite (C3)

Middle Tien-Shan South Tien-Shan

Gneiss, marble, schists (PR1)

Alpine tectonic melange

Ore-bearing rocks - phyllites (Cm-V)

Black cherty, limestone (Cm2-O1)

Granite, diorite (PR?sr)

Aulerolite (O1-2)

Sandstone (O2-3)

Legend:

5SCHEMATIC GEOLOGICAL CROSS-SECTION, LINE A-A’

KUMTORDEPOSIT

KARASAYPROSPECT

TARGET

K U M T O R

Karasay Prospect

May 2010 22

Boroo

2009

• 151,000 oz. gold

• Cash cost $456/oz

Two Solid Growth Platforms

• Financial resources • Operating expertise • Track record

Kumtor

2009

• 525,000 oz. gold

• Cash cost $460/oz

May 2010 23

Mongolia Update

Actions• Windfall Profit Tax repealed as of Jan. 1, 2011

• Development of Gatsuurt oxides

• Road construction to Gatsuurt complete by mid-2010

Strategy• Expand processing options

• Develop ten years of production for mill

23

May 2010 24

M O N G O L I A

Large Land Package, Next Development Gatsuurt

• Gatsuurt development– 55 km road from Boroo– Initial oxide production

in 3Q - 2010

• Current Reserves (000’s oz)– Boroo 567– Gatsuurt 1,280

1,847

• Current M&I Resources – 722,000 ounces

• Current Inferred Resources– 410,000 ounces

• Land package– 130,000 hectares

Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

May 2010 25

Detailed Map Area

Ian Atkinson is the Qualified Person for purposes of NI 43-101please see Centerra’s AIF and technical reports filed on SEDAR.

G A T S U U R T

Central Pit South Slope Drillhole Plan Map Q1 2010

May 2010 26Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

G A T S U U R T

Central Pit South Slope - Section 3

May 2010 27

Gatsuurt – Construction

Road Construction

Site

Preparation

Work Camp

May 2010 28

Asia – Significant Exploration Potential

May 2010 29

Exploration Initiatives

• Tonopah Divide – Nevada, USA

• Elmali/Akarca (EMX) – Turkey

• Artvin (KEFI) – Turkey

• Bakir Tepe (KEFI) – Turkey

• Oksut (Stratex) - Turkey

• Kara Beldyr – Tyva Republic, Russia

• Illichy – Amur Oblast, Russia

• Sumber (AltairGold) - Mongolia

May 2010 30

2010 Facts

• KumtorOpen Pit

• 5.5 M oz in Reserves• Current 10-year operating life• Additional targets on trend

Underground• 2.4 M oz in Inferred Resources• Two declines in progress• Target initial production 2012• Open along strike and down dip

• Mongolia• 1.8 M oz Reserves• Expanding oxide mineralization

at Gatsuurt

May 2010 31

2010 Facts

• Exploration– Growing to $30 million this year

• Kumtor - $12 million

• Mongolia – $3 million

• Russia, Turkey, Nevada - $3M each

• Continuing to expand

• Financial• Strong Balance Sheet• No debt• Cash position - $384 million• Operating cash flow growing

May 2010 32

I N S U M M A R Y

Centerra: The Future is Bright

2010 results – demonstrate strong performance

Financially strong – an advantage today

Operations – advancing on all fronts

Growth – more aggressive stance

Current low valuation – opportunity

Appendix

May 2010 35

Price Volume History May 2009 - May 2010

Boroo operatinglicenses suspended

Boroo operatinglicenses reinstated

KR Unrest

Cameco announcesSale of Centerra shares

3rd QuarterResults

4th QuarterResults

May 2010 36

Share and Ownership Profile

Institutional OwnershipGeographic Breakdown

Other1%

US34%

Europe36%

Canada29%

Centerra Ownership

Institutional56%

Kyrgyzaltyn33%

Retail11%

(25 million shares)

(133 million shares)

(77 million shares)

May 2010 37

Providing Social and Economic Support

Kyrgyz Republic

• 96% of employees are Kyrgyz nationals

• Issyk-Kul region set up an agro engineering centre and projects to improve pasture management, vegetable production and processing

• Established a micro crediting agency

• Increase local fish stocks and encourage fishing industries

• Biodiversity conservation to improve the Sary-Chat Ertash National Wildlife Park

Mongolia

• 94% of employees are Mongolian nationals

• Partners in the World Vision Sprinkles program to improve the health of Mongolian children

– Eg. Vitamin D additives to combat Rickets

• Community development programs– Centre for traditional medicine– Small/family business loan program– Agricultural Educational Centre– Community Centre & Hospital

improvement projects

May 2010 38

Signed on April 24, 2009

Approved by Parliament on April 30, 2009

Signed by President on May 2, 2009

38

Closed on June 11, 2009

Recognition by the Constitutional Court that the new Kumtor laws conform to the Kyrgyz Constitution on June 2, 2009

K U M T O R

Agreement on New Terms

May 2010 39

K U M T O R

Kumtor: New Agreement

Major Terms

• Stable, simplified tax regime

• Expanded mining concession

• Centerra issued 18.2 million shares to Kyrgyz Government

• Cameco transferred 25.3 million shares after closing secondary, December 2009

• Upfront payment of $22.4 million

• Right to nominate second (independent) director

39

May 2010 40

ShambesaiShambesai

SultanSultan--SarySary

AndashAndash

BozymchakBozymchak

ChaaratChaaratJerooyJerooy

KuruKuru--TegerekTegerekKUMTORKUMTOR

Taldybulak L.Taldybulak L.TaldybulakTaldybulak

IstamberdyIstamberdy

TokhtazanTokhtazanUnkurtashUnkurtash

200 kilometres

KyrgyzstanKyrgyzstan

Kyrgyzstan – Known Au occurrences and main deposits

May 2010 41

K U M T O R

High-Potential Exploration 5.5M oz Proven & Probable Reserves

Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

May 2010 42

4m

4

3

3

4

3

NE

33200

SW

4200

3600

3800

4000

4400

3400

m

PETROV GLACIER

NORTHEASTAREA

LYSIIAREA

LYSYI GLACIER

"NB" zone

"North"

"Stockwork"

CENTRAL PIT

"South"Waste dump

"SB" zoneDesign Decline

DAVIDOV GLACIER

SOUTHWESTPIT

SARYTORAREA

SARYTOR GLACIER

BORDOOAREA

BORDOO GLACIERVALLEY

AKBELAREA

WEST-BORDOO GLACIERVALLEY

LONG SECTION OF KUMTOR CONCESSION AREA

0 1

kilometre

Proposed prospectingdrillholes

)))))))))Completed drillholes:- KOC

. - SovietSoviet aditTrenches,dozer cuts

Design finalpit shellGlacier

Paleozoic thrustsAlpine thrusts

Other faultsKnown Mineralization(level 3800 m)

Known Mineralization(surface trace)

Exploration TargetRiphean (R3). Arkoses, rhyolitesProterozoic (PRI-II).Granite, gneiss

Vendian (V). Dolomitic phyllites

Vendian (Vdz-db). Phyllites,black phyllites, rhythmite

Cambrian (Cm). Black shaleOrdovician (O1-2). Green aleurolite

Paleogene (Pg). Red clay, breccia Vendian (Vbk). TilloidesAlpine tectonic melange

Old moranic sediments (QIII)Recent sediments (QIV)

PETROV G

LACI

PETROV G

LACIE

PETROV G

LACIE

PETROV G

LACIE

PETROV G

LACIE

PETROV G

LACIE

PETROV G

LACIE

PETROV G

LACIE

PETROV G

LACIE

PETROV G

LACIE

PETROVPETROVPETROVPETROVPETROVPETROVPETROVPETROVPETROV

NORTHEASTNORTHEASTNORTHEASTNORTHEASTNORTHEASTNORTHEASTNORTHEASTNORTHEASTNORTHEAST

PETROVLAKE

LYSIY GLACIER

LYSIY GLACIER

LYSIY GLACIER

LYSIY GLACIER

LYSIY GLACIER

LYSIY GLACIER

LYSIY GLACIER

LYSIY GLACIER

LYSIY GLACIER

LYSIY GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOVDAVIDOVDAVIDOVDAVIDOVDAVIDOVDAVIDOVDAVIDOVDAVIDOVDAVIDOV

MILLMILLMILLMILLMILLMILLMILLMILLMILL%%%%%%%%%

SARYTO

R GLA

CIERSA

RYTOR G

LACIER

SARYTO

R GLA

CIERSA

RYTOR G

LACIER

SARYTO

R GLA

CIERSA

RYTOR G

LACIER

SARYTO

R GLA

CIERSA

RYTOR G

LACIER

SARYTO

R GLA

CIERSA

RYTOR G

LACIER

WASTEWASTEWASTEWASTEWASTEWASTEWASTEWASTEWASTEDUMPDUMPDUMPDUMPDUMPDUMPDUMPDUMPDUMP

SOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTPITPITPITPITPITPITPITPITPITPIT

BO

RDO

O G

LACIER

BO

RDO

O G

LACIER

BO

RDO

O G

LACIER

BO

RDO

O G

LACIER

BO

RDO

O G

LACIER

BO

RDO

O G

LACIER

BO

RDO

O G

LACIER

BO

RDO

O G

LACIER

BO

RDO

O G

LACIER

BO

RDO

O G

LACIER

WEST-B

OW

EST-BO

WEST-B

OW

EST-BO

WEST-B

OW

EST-BO

WEST-B

OW

EST-BO

WEST-B

O

SARYTORSARYTORSARYTORSARYTORSARYTORSARYTORSARYTORSARYTORSARYTORSARYTORDESIGN DESIGN DESIGN DESIGN DESIGN DESIGN DESIGN DESIGN DESIGN DESIGN

PITPITPITPITPITPITPITPITPITPIT

BORDOOBORDOOBORDOOBORDOOBORDOOBORDOOBORDOOBORDOOBORDOO

AKBELAKBELAKBELAKBELAKBELAKBELAKBELAKBELAKBEL

MUZDUSUUMUZDUSUUMUZDUSUUMUZDUSUUMUZDUSUUMUZDUSUUMUZDUSUUMUZDUSUUMUZDUSUU

CENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PITWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMP

WASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMP

222222222111111111000000000

∀

0 1

kilometre

4400

m

4000

3800

3400

4200

3600

NE

32003200

SW

4200

3600

3800

4000

4400

3400

m

PETROV GLACIER

NORTHEASTAREA

LYSIIAREA

LYSYI GLACIER

"NB" zone

"North"

"Stockwork"

CENTRAL PIT

"South"Waste dump

"SB" zoneDesign Decline

DAVIDOV GLACIER

SOUTHW ESTPIT

SARYTORAREA

SARYTOR GLACIER

BORDOOAREA

BORDOO GLACIERVALLEY

AKBELAREA

WEST-BORDOO GLACIERVALLEY

K U M T O R

Exploration Targets

Longitudinal Section Through Kumtor Concession Area

Longitudinal Section LineLongitudinal Section Line

16 kilometres

Decline in ProgressDecline2 - Planned

3800m elevation blocks > 1.0 g/t

May 2010 43

Mineralization zone. Surface trace

Gneiss, marble, schists (PR1)

Alpine tectonic melange

Granite, diorite (PR?sr)

Granite, granodiorite (R2)

Ore-bearing rocks - phyllites (Cm-V)

Carbonate-terrigenous rocks (Cm2-O?)

Red clay, conglomerate-breccia (Pg-N)

Arkoses, tuffs, basalts, rhyolites (R3-V)

Black cherty, limestone (Cm2-O1)

Limestone (C1-2); sandstone (C1)

Middle Tien-ShanMonzodiorite, granodiorite (O3-S1)

Red conglomerate, sandstone (D2-3)

North Tien-ShanRecent sediments (QIII-QIV)

Basalt, andesite (Cm1-2)

Glacier

Sandstone (O2-3)

Aulerolite (O1-2)

Lake and rivers

Legend:

Border of licence areas

Basalt, limestone, terrigenous rocks (D2-3)

Red-brown conglomerate (C2)

Cherty, limestone, terrigenous rocks (C1-2)

Marblized limestone with gypsum (D2-3)

Quartz-biotite schist, metabasalt (O-S1?)

Sericitic shale (S2-D1); hornfels

South Tien-ShanBrown-grey clay, conglomerate (N1-2)

Other major Paleozoic faults

Specled shale (O3-S1?)

Granite, granodiorite (C3)

Major Alpine steep faults

Basalt (S2-D1); hornfels

Major Alpine thrust

Gabbro (S2-D1?)

Ophiolitic melange (O?)

Major Paleozoic thrust

S O U T H T I E N - S H A N

M I D D L E T I E N -S H A N

Petrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov FaultPetrov Fault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Karas

ay F

ault

Kara

say F

ault

Kara

say F

ault

Kara

say F

ault

Kara

say F

ault

Kara

say F

ault

Karas

ay F

ault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Atbashi-Inilchek Fault

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Nikolae

v Lin

e

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

Kumtor Fau

lt

N O R T H T I E N - S H A N

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

Akb

el F

ault

14,28

0,000

mE

4,650,000 mN

14,26

0,000

mE

14,27

0,000

mE

4,620,000 mN

4,630,000 mN

4,640,000 mN

Kumtor Concession Area

Petrov

Northeast

Akbel

Bordoo

Muzdusuu

5 kilometres

Karasay Prospect

Central Pit

Karasay License Area

Southwest

Sarytor

A

A’

K U M T O R

Karasay Prospect

May 2010 44

K U M T O R

High-Potential Exploration 5.5M oz Proven & Probable Reserves

Bordoo Target (5 km)

Sarytor Pit (4 km)

Stockwork Underground

Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

SB Zone

NE Target (3 km)

Petrov Target (5 km)

Akbel Target (8 km)

Central Pit

May 2010 45

D1352

K U M T O R

SB Zone SW Extension

KS10 Final Pit

SB Zone

26.69g/t / 3.6m

20.10g/t */ 3.6m

4.27g/t / 4.8m

4.27g/t */ 4.8m

84.04g/t / 26.4mincl 327.35g/t / 6.2mincl 14.44g/t / 11.8m

19.42g/t* / 26.4mincl 52.18g/t*/ 6.2m

incl 14.44g/t* / 11.8m

Ian Atkinson is the Qualified Person for purposes of NI 43-101please see Centerra’s AIF and technical reports filed on SEDAR.

* Gold assays cut to 60 g/t

SB Zone

May 2010 46Ian Atkinson, a Certified Professional Geologist, is Centerra’s qualified person for the purpose of National Instrument 43-101.

1 g/t Au shell

7 g/t Au shell

>15 g/t15 – 10 g/t10 – 7 g/t7 – 3 g/t3 – 1 g/t1 - 0.5 g/t0.5 – 0.1 g/t

Blasthole Au Grade

40 metres

K U M T O R

3770 EL Bench Plan, Blasthole Data and Reserve Shell Outlines

May 2010 47

Mongolia – Exploration 2010

YeroogolTrend

Khuder Target:Drilling, Trenching &

Geophysics

Limestone Project:

Resource Confirmation

Boroo Deposit &Borogol District:Target Definition

Gatsuurt Deposit &Dzuun Mod District:

Trenching, Geophysics & Geochemistry

Shiver Target

Khar Mod Target

Yalbag District:Trenching & Drilling

Buguntay:Target Definition

Ulaan Bulag:Resource Delineation

Exploration License

Mining License

Sumber Target

May 2010 48

Gatsuurt – Pending Development

• 100% owned by Centerra

• 35 km east of Boroo mine

• Feasibility study completed

• Reserves and resources registered with Government

• Sulphide development subject to investment agreement

• Reserves: 1.3 M contained ounces (13.9 Mt @ 2.9 g Au/t)

• Resources(1): 0.5 M contained ounces(5.8 Mt @ 2.6 g Au/t)

• Production at Boroo facility

• Subject to 3% NSR

Reserves and resources as at December 31, 2009. Resources do not include reserves. Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see AIF and technical reports filed on SEDAR.(1) Measured and Indicated

EXPANSION

May 2010 49

Gatsuurt Project Pit Designs

May 2010 50

Gatsuurt Central Pit – Q1 2010South Slope Section 5

Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

May 2010 51

Gatsuurt Central Pit – Q1 2010South Slope Section 7

Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

May 2010 52

Turkey - Four Joint Venture Projects

Joint Venture Project

Elmali - EMX Akarca -

EMX

Artvin - Kefi

Bekir Tepe - Kefi

African Plate

Öksüt - Stratex

Mediterranean Ocean

Black Sea

Arabian Plate

Eurasian Plate

Istanbul

Ankara

Northern Anatolian

Fault ZoneCCööplerpler

KisladagKisladag

Izmir Izmir –

Ankara - Erzincan Suture

CayeliCayeli

OvacikOvacik

May 2010 53

Russia Joint Ventures

KazakhstanKazakhstan

ChinaChina

MongoliaMongolia

RussiaRussia

KyrgyzstanKyrgyzstan

Known Au Mines/Deposits

BorooBoroo

KumtorKumtor

IllichyIllichy

AmurTyva

Kara BeldyrKara Beldyr

May 2010 54

Kara Beldyr – Q1/09 Shallow Drilling, Au in Soil

EG Zone

Conglomerate Zone

170 holes, 1,597 m

2000 metres

May 2010 55

Nevada: Tonopah JV

Centerra Property

Carlin-type Deposit Trend

Centerra Property

Reno

Elko

100 miles

100 kilometres

Las Vegas

Carlin

Getchell

Independence

BattleMtn-

Eureka

NEVADA

Hice

Cortez

REN

Redrock

TonopahDivide

May 2010 56

Tonopah Divide Project

ULTRALIGHT AEROMAG SURVEY

RTP Mag Intensity