REG-Conroy Gold & Natural Resources Plc: Gold Intersection at Clay Lake Gold Target

Conroy Gold and Natural ResourcesAnnouncement

06/03/2023 07:15

This announcement contains inside information for the purposes of Regulation
11 of the Market Abuse (amendment) (EU Exit) Regulations 2019/310.

                                                                                                                                       
                                                                                                                                    
6 March 2023

Conroy Gold and Natural Resources plc

(“Conroy Gold” or “the Company”)

GOLD INTERSECTION OF 40.5 METRES AT 1.2 G/T GOLD

AT CLAY LAKE GOLD TARGET
* Gold intersection extends for 40.5m at 1.2 g/t gold from 135.5m depth
* Gold mineralisation intersected c.200m away from previous gold intersections
at Clay Lake (Derryhennet) gold target
* Continuity of gold stockwork zone demonstrated
Conroy Gold and Natural Resources PLC (AIM: CGNR), the gold exploration and
development company focused on Ireland and Finland, is pleased to announce
assay results from the first drill hole in its step-out drilling programme at
its Clay Lake gold target in the Longford-Down Massif.  The results included
a gold intersection of 40.5m at 1.2 g/t gold.  The drilling programme at Clay
Lake was announced by the Company on 8 February 2023 and is being carried out
in conjunction with the Company’s joint venture partner, Demir Export A.?.

The results are from the first drill hole of a planned eight hole, two
thousand metre drill programme on the Derryhennet section of the Company’s
Clay Lake gold target in Co. Armagh. The drill hole was located c.200 metres
to the south-west of the nearest previous drill hole in this area which
intersected 52.5 metres of gold grading 0.5g/t gold (announced by the Company
on 1 November 2018).  

The drill hole was drilled to a downhole depth of 212.7 metres at an
inclination of -60 degrees.  Gold mineralisation of 40.5 metres was
intersected in a stockwork zone at a downhole depth of 135.5 metres. The
intersection indicates good continuity of the gold stockwork zone at
Derryhennet and adds further to our understanding and knowledge of the overall
potential scale of the Clay Lake gold target.

Drill Hole Intersections:

•            40.5m @ 1.2 g/t Au from 135.5m

              Including 11.5m @ 1.6g/t Au from 155.5m

•            1.0m @ 0.3 g/t Au from 113.0m

•            1.0m @ 0.4 g/t Au from 91.0m

•            1.0m @ 0.5 g/t Au from 85.0m

•            0.5m @ 1.4 g/t Au from 64.5m

•            2.0m @ 1.1 g/t Au from 50.5m

(Only intercepts of 0.3 g/t or greater are presented)

The Clay Lake gold target forms a single large gold-in-soil anomaly, which (as
previously announced by the Company on 28(th) January 2016) is over 200 Ha
(c.500 acres) and in area considerably larger in size than the Clontibret gold
target. The Clay Lake gold target is nearly 3km in length and, in places, 2km
wide.

Further results will be announced as the drilling programme at Clay Lake
proceeds.

This release has been approved by Kevin McNulty PGeo, who is a member of the
Company’s technical staff and holds a BSc/MSc in Geology and Remote Sensing,
in accordance with the guidance note for Mining, Oil & Gas Companies issued by
the London Stock Exchange in respect of AIM Companies, which outlines
standards of disclosure for mineral projects.

Professor Richard Conroy, Chairman, commented: 

“This is an excellent start to the step-out drilling programme at Clay Lake
and adds further to the overall gold potential of this new gold district. In
addition to this drill programme work is also continuing on other gold targets
and further results will be announced in due course.”

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) Jason Robertson   Lothbury Financial Services  Tel: +44-20-7330-1883    T el: +44-20-3290-0707  
 Michael Padley                                                                                                                
 Hall Communications                                                                       Tel : +353-1-660-9377               
 Don Hall                                                                                                                      

Visit the website at: www.conroygold.com



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