Definitive Mining Plan in Development at Clonti...

19 September 2014                               

                                                                               
                     Conroy Gold and Natural Resources plc                     
                          ("Conroy" or "the Company")                          

    A DEFINITIVE MINING PLAN IS IN THE COURSE OF DEVELOPMENT AT CLONTIBRET     

  * Phase 1 To Comprise Starter Pit And Pit Extension
   
  * Phase 2 To Comprise Underground Mining And / Or Further Surface Pit(s)
   
  * Advantage Of Favourable Metallurgy And Infrastructure
   
  * In-house Preliminary Estimates of Capital Costs of US$41,493,000 And
    Operating Cash Costs of US$35/tonne ore
   
Conroy Gold and Natural Resources plc (AIM: CGNR, ESM: CGNR.I), the gold
exploration and development company focused on Ireland, is pleased to announce
that a definitive mining plan is in the course of development at its Clontibret
gold project. Phase 1 to comprise a starter pit and pit extension. Phase 2 to
comprise underground mining and/or further surface pit(s).

The Phase 1 starter pit will concentrate within a high grade, densely drilled
portion of the resource and should result in accelerated total project capital
payback within year 2 of the operation and a positive cash flow. Current
metallurgical testwork is indicating very favourable flotation and downstream
processing characteristics which together with favourable infrastructure and
logistical support will be important in reducing project capital and operating
costs.

Phase 2 will comprise underground mining and/or further surface pit(s). For the
underground mining option there are favourable grades and widths at depth that
have been identified in drilling, such as 12.25 metres at 2.6 g/t gold
including 6 metres at 2.95 g/t gold. This ore could be accessed by a spiral
ramp at the base of the Phase 1 pit and mined by a high volume mining method
such as sublevel block caving.

The mining plan is set in the context of the remaining 80 per cent of the
Clontibret target where significant gold intersections outside the planned mine
area for Phase 1 have been previously intersected, including 11metres at 5.34g/
t gold and 21metres at 1.82g/t gold.

In-house preliminary estimates of capital costs for Phase 1 are US$41,493,000.
This includes Working Capital of US$3,579,000 and Sustaining Capital of
US$2,391,000. The latter of which is anticipated to be paid for by cash flow
over years 2-5 of the mine production

Preliminary operating cash costs are estimated at US$35.79/tonne ore with total
operating cash costs for the starter pit estimated at US$544/oz gold and
overall total operating cash costs for Phase 1 estimated at US$693/oz gold.
Total production costs for the starter pit are estimated at US$1,002/oz gold
and US$947/oz gold overall for Phase 1. These figures are expected to fall
further as future resource drilling and detailed feasibility and development
work proceeds.

Elsewhere on the Company's licences exploration continues along the 30 mile
gold trend discovered by the Company, which stretches from County Armagh across
Counties Monaghan and Cavan.

Exploration is ongoing at the Clay Lake gold target (7km, 4.5 miles) to the
North East of Clontibret where gold-in-soil values (up to 1.53g/t gold), double
those seen at Clontibret, have been recorded and where drilling intersections
of 98.6 metres at 0.57g/t gold (including 11.5 metres at 1.49g/t gold) and 5
metres on surface of 3.02g/t gold have been made. A recent detailed structural
study by independent consultants suggests potential for high tonnage and
overall gold content.

Zinc exploration on the licences is also proceeding following the discovery of
a very large (100 Km²) zinc anomaly to the south of the Company's Clay Lake
gold discovery, and also the discovery, in rock samples, at the historic
Cornanurney lead workings, of exceptionally high zinc levels of 30 per cent
zinc and 18.40 per cent zinc.

This release has been approved by members of the Company's technical staff,
Michael Brennan (MSc, SAIMM) and Kevin McNulty PGeo, who 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, Chairmancommented:

"The definitive mining plan using a starter pit underwrites and de-risks the
project and is set within what we believe is the beginning of a new European
gold mining district with exploration and conceptual studies by the Company
suggesting the potential for 15 - 20+ million ounces of gold within the 30 mile
gold trend and also possibly zinc and other mineral potential."

For further information please contact:

Conroy Gold and Natural Resources plc                      Tel: [phone]
Professor Richard Conroy, Chairman                                             
                                                                               
Sanlam Securities UK Limited (Nomad)                       Tel: [phone]    
Virginia Bull/Simon Clements                                                   
                                                                               
Hybridan LLP (Broker)                                      Tel: [phone]    
Claire Louise Noyce/William Lynne                                              
                                                                               
IBI Corporate Finance Limited (ESM Adviser)                Tel: [phone]    
Ger Heffernan                                                                  
                                                                               
Lothbury Financial Services                                Tel: [phone]    
Michael Padley/Michael Spriggs                                                 
                                                                               
Hall Communications                                        Tel: [phone]
Don Hall                                                                       



Visit the website at: www.conroygoldandnaturalresources.com