Exploration

Goldfield Project

NEVADA USA

Goldfield is located on the Walker Lane trend in Esmeralda County, Nevada, USA, a tier one mining jurisdiction, ~30 miles south of Tonopah, with claims totaling ~15,300 acres or ~62Km2. The property can be accessed via U.S. Highway 95 from Las Vegas or Reno.

Having acquired the project in 2022, Centerra has been focused on exploration of the large land package, with a focus on oxide and transition material. The initial measured and indicated gold mineral resource at Goldfield was 706,000 ounces as of December 31, 2024, which includes both oxide and transition material, principally in the Gemfield, McMahon, and Jupiter deposits.

Project Overview

The Goldfield project is a conventional open-pit, heap leach project, with three known deposits: Gemfield, Goldfield Main, and McMahon Ridge.

Centerra completed metallurgical testwork resulting in run-of-mine recoveries in the mid-60% range, which is in line with expectations for a heap leach project and is expected to lower the capital investment required for the project.

Project Evaluation

Based on the size of the resource estimate, the Goldfield project does not meet Centerra’s requirements to support near-term development. The Company remains committed to maximizing the project’s potential, while exploring strategic and commercial options for Goldfield.