REG-Conroy Gold & Natural Resources Plc: Completion of Joint Venture Agreement

Conroy Gold and Natural ResourcesAnnouncement

31/03/2022 11:30

The information contained within this announcement is deemed by the Company to
constitute inside information for the purposes of Regulation 11 of the Market
Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this
announcement via a Regulatory Information Service, this inside information is
now considered to be in the public domain.

             
                            
                                                                                     
              31 March 2022

Conroy Gold and Natural Resources plc        

(“Conroy Gold” or the “Company”)

COMPLETION OF JOINT VENTURE AGREEMENT
* Joint Venture Agreement between Conroy Gold and Demir Export completed
* All outstanding conditions met
* Payment of €1 Million made to Conroy Gold
* Work programme commenced
Conroy Gold and Natural Resources PLC (AIM: CGNR), the gold exploration and
development company focused on Ireland and Finland, is pleased to announce
completion of the Joint Venture Agreement (the “JV”), with Demir Export
A.? (“Demir Export”), all outstanding conditions having been met and a
payment of €1 million made to Conroy Gold.

In addition to the development of the gold deposit in the Clontibret Licence
to construction ready status and then bringing it into production as a gold
mine, the JV’s aim is to take the Clay Lake gold target and other targets
within the Mines Royal Options/Northern Ireland Licences, and the other
Licences held by the JV, to construction ready status.

In the first phase of the earn in period of the JV, Demir Export is expending
€4.5 million in work commitments (excluding Demir Export in-house costs,
Operator fees and Minimum Regulatory Work Commitments) to earn-in a 25% option
in the project. This work programme commenced in January 2022 and a 3,000
metre drilling programme is planned to begin in the second half of April 2022.

Full details of the JV can be found in the EGM circular available on the
Company's website (www.conroygold.com) and the material aspects are contained
in the announcement of 30 November 2021.

Professor Richard Conroy, Chairman, commented: 

“I am very pleased that the Joint Venture Agreement with Demir Export has
been completed.

My colleagues and I are enjoying working with the Demir Export team and look
forward to building a long term, successful relationship and not only bringing
the Clontibret gold deposit to construction ready status and into operation as
a mine, but also simultaneously advancing the Clay Lake gold target in
Northern Ireland and other targets on the district scale gold trend in the
Longford-Down Massif.”

For further information please contact:

 Conroy Gold and Natural Resources PLC  Tel: +353-1-479-6180   
 Professor Richard Conroy, Chairman                            
 Allenby Capital Limited (Nomad)        Tel: +44-20-3328-5656  
 Nick Athanas/Nick Harriss                                     
 First Equity Limited (Broker)          Tel: +44-20-7330-1883  
 Jason Robertson                                               
 Lothbury Financial Services            Tel: +44-20-3290-0707  
 Michael Padley                                                
 Hall Communications                    Tel : +353-1-660-9377  
 Don Hall  www.conroygold.com                                  
                                                               



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