REG-Conroy Gold & Natural Resources Plc: New Gold Discovery

Conroy Gold and Natural ResourcesAnnouncement

22/02/2023 07:15

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

22 February 2023

Conroy Gold and Natural Resources plc

(“Conroy Gold” or “the Company”)

NEW GOLD DISCOVERY: NATIVE GOLD: ASSAY RESULTS OF UP TO 123.0 G/T
* Discovery of new area of gold mineralisation in Longford - Down Massif
* Visible (native) gold
* Assay results of up to 123 g/t gold returned in quartz breccia samples
Conroy Gold and Natural Resources PLC (AIM: CGNR), the gold exploration and
development company focused on Ireland and Finland, is pleased to announce the
discovery of a new area of gold mineralisation in the Longford-Down Massif in
Ireland. Visible (native) gold is present. Quartz breccia samples returned
assay results of up to 123.0 g/t gold. The exploration programme is being
carried out in conjunction with the Company’s joint venture partner, Demir
Export A.?.

The discovery was made during prospecting over the Company’s Mines Royal
(Newtownhamilton) option area in County Armagh in Northern Ireland. The
discovery location is south of the Company’s Mines Royal (Keady) option
area, which contains the Company’s Clay Lake gold discovery.

Visible gold was observed at two locations within the new discovery area.

Assay results, from five quartz samples, located on or close to the surface,
returned values of 123.0 g/t Au, 76.7 g/t Au, 44.1 g/t Au, 35.2 g/t Au and
12.8 g/t Au, respectively. The assay results of 123.0 g/t Au, 76.7 g/t Au and
44.1 g/t Au are the highest gold assay results returned since the Company
began exploration in the Longford–Down Massif. All samples were analysed by
ALS (OMAC Laboratories), Loughrea, using 30g fire assay fusion with
gravimetric finish (method code Au-GRA21).

A trenching and drilling programme is planned to follow up on the discovery
and to enable the Company to better assess and understand the mineralisation
in the area.

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 new discovery is potentially a transformational event for gold
exploration and development in this very large gold district. The presence of
visible gold and the outstanding gold grades of up to 123g/t gold (4oz/t gold)
in these initial samples are exceptional and, taken in conjunction with the
Company’s other significant discoveries, indicate the potential for the
district to become a Tier 1 gold area.“

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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