REG-Conroy Gold & Natural Resources Plc: Update on proposed joint venture partnership

Conroy Gold and Natural ResourcesAnnouncement

01/09/2021 07:05

1 September 2021

Conroy Gold and Natural Resources PLC
(“Conroy Gold” or “the Company”)

UPDATE ON PROPOSED JOINT VENTURE PARTNERSHIP
* Definitive agreements for proposed joint venture with Demir Export A.S. at
an advanced stage
* Letter of Intent (“LOI”) terms form the basis for the definitive
agreements
* On completion of final documentation an Extraordinary General Meeting
(“EGM”) of Conroy Gold is to be held to seek shareholder approval
Conroy Gold and Natural Resources PLC (AIM: CGNR), the gold exploration and
development company focused on Ireland and Finland, is pleased to announce
that the definitive agreements for the proposed Joint Venture with Demir
Export A.S. (“Demir Export”), on an earn-in basis, over the licences held
by Conroy Gold along its 65km district scale gold trend in the Longford-Down
Massif in Ireland have reached an advanced stage.

On completion of documentation an EGM will be held to seek shareholder
approval.  As agreed by Conroy Gold and Demir Export the terms of the Letter
of Intent form the basis for the definitive agreements and the two parties
continue to progress the Joint Venture on terms materially identical to those
announced on 25 February 2021.

The primary focus of the joint venture project (“Project Inis”) is the
development of the gold deposit within the Clontibret licence to construction
ready status and bringing it into operation as a gold mine. The parties
further aim is to have the other licences held by Conroy Gold given the same
status one after the other. Clontibret is expected to provide the foundation
for a long-term relationship between the parties.

Professor Richard Conroy, Chairman, commented: 

“My colleagues and I look forward very much to working with the Demir Export
team on the joint venture partnership - Project Inis - and building the
foundations for a long term, successful relationship.

Demir Export has the mining expertise and the financial resources not only to
bring the Clontibret gold deposit to construction ready status and into
operation as a mine, but also to advance the significant gold potential of the
other licences along the gold trend to the same status.

I look forward to the completion of final documentation and to seeking
shareholder approval at the subsequent EGM.”

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                                                                
 Visit the Company website at www.conroygold.com                         



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