Half-yearly Report

To be embargoed until 7.00am on Monday 25th February, 2008.

                         Conroy Diamonds and Gold Plc                          

                 Unaudited Interim Results for the six months                  

                            ended 30 November 2007.                            

CHAIRMAN'S STATEMENT

I have great pleasure in presenting your Company's Interim Report for the six
months ended November 2007, a period during which your Company made further
progress with its exploration programmes for gold in both Ireland and Finland.

Indicated Resource Estimate For Clontibret Gold Deposit Tripled to 200,000
ounces

Your Company has tripled its indicated gold resources at Clontibret to 200,000
ounces. The indicated tonnes and grade have increased by 108 per cent and 64
per cent respectively and total inferred resources are now 6 million tonnes
grading 2.4 grammes/tonne ("g/t") gold. These JORC-compliant resources relate
to one closely drilled area amounting to less than 20 per cent of the
Clontibret target anomaly.

Using a 1g/t cut-off, the Indicated Resources now stands at 2.7m tonnes,
grading 2.3 g/t gold for 200,000 ounces contained. Inferred resources, also at
a 1g.t cut-off, amount to 6m tonnes grading 2.4 g/t for 460,000 ounces
contained. The estimates have been calculated to an average depth of
approximately 150m below surface and the mineralisation remains open at depth
and along strike.

The revised resource estimates are based on the generation of a new detailed
3-dimensional orebody model, incorporating all existing data and utilizing
refined geological wire-frames and geostatistical correlations, including
archive core and new assay results.

Your Company's gold target at Clontibret is but one of a series of gold
occurrences in the Longford-Down Massif where your Company has identified a
gold-bearing trend that extends for at least 50 miles along strike from Co.
Armagh in Northern Ireland, through Co. Monaghan and into Co. Cavan in the
Republic of Ireland.

Further geological modelling of the overall target area at Clontibret has also
given your Company a better understanding of the orebody, both in the immediate
vicinity of the JORC-compliant resource and over the remaining 80 per cent of
the target anomaly.

Your Company's ongoing evaluation work at Clontibret has already paid dividends
with this substantial upgrade in the tonnes and grade of the Indicated
Resource. It must also be remembered that this relatively shallow
mineralisation is open at depth and is confined to only a small part of the
target anomaly.

The upgrade in itself represents further significant progress at Clontibret,
but your Directors believe that additional work on the target area, including
drilling, will result in a substantial increase in the total size of the
resource.

Furthermore, your Company is also now taking the first steps to implement a
scoping and pre-feasibility study on the Clontibret target with the aim of
converting present and anticipated future. Indicated Resources into the Reserve
category with the ultimate objective of demonstrating the feasibility of an
economically viable start-up mining operation.

Exploration also continues in Finland on your Company's Sodankyla licences in
the Central Lapland Greenstone Belt, an area highlighted by the Geological
Survey of Finland as having strong potential for gold mineralisation.

Finance:

The results for the half-year are set out below. The loss for the period was €
166,698. (2006 loss €172,363).

Your Board is considering various options to finance and gain the maximum
benefit from its exploration success.

Directors and Staff

I would like to thank my fellow directors, staff and consultants for their
support and dedication, which has enabled the continued outstanding progress of
the Company. I look forward to the future with confidence.

Yours faithfully,

Professor Richard Conroy

Chairman.

25 February 2008

UNAUDITED BALANCE SHEET

At 30 November 2007

                                      30 November    30 November 31 May 2007
                                             2007           2006            
                                                                            
                                      (Unaudited)    (Unaudited)   (Audited)
                                                                            
                                                €              €           €
                                                                            
Fixed Assets                                                                
                                                                            
Mineral interests                       7,337,620      7,233,917   7,136,877
                                                                            
Financial fixed asset                           2              2           2
                                                                            
Tangible assets                            30,934         37,870      32,104
                                                                            
                                        _________      _________   _________
                                                                            
                                        7,368,556      7,271,789   7,168,983
                                                                            
Current Assets                                                              
                                                                            
Debtors                                    35,264         45,290      37,707
                                                                            
Cash in hand                               50,606         18,838     105,954
                                                                            
                                        _________      _________    ________
                                                                            
                                           85,870         64,128     143,661
                                                                            
Creditors:                                                                  
                                                                            
Amounts falling due within one           (97,463)      (206,902)   (104,960)
year                                                                        
                                                                            
                                        _________      _________   _________
                                                                            
Net Current Assets/(Liabilities)         (11,593)      (142,774)      38,701
                                                                            
                                        _________      _________   _________
                                                                            
Total Assets less Current               7,356,963      7,129,015   7,207,684
Liabilities                                                                 
                                                                            
Creditors:                                                                  
                                                                            
Amounts failing due after more          (942,413)      (518,303)   (687,168)
than one year                                                               
                                                                            
                                        _________      _________   _________
                                                                            
Net Assets                              6,414,550      6,610,712   6,520,516
                                                                            
                                        _________      _________   _________
                                                                            
Capital and Reserves                                                        
                                                                            
Called up share capital                 3,170,649      3,170,649   3,170,649
                                                                            
Capital conversion reserve fund            30,617         30,617      30,617
                                                                            
Share premium account                   5,491,037      5,472,337   5,491,037
                                                                            
Share based payments reserve              181,982         93,150     121,250
                                                                            
Profit and loss account               (2,459,735)    (2,156,041) (2,293,037)
                                                                            
                                        _________      _________   _________
                                                                            
Shareholders' Funds - all equity        6,414,550      6,610,712   6,520,516
                                                                            
                                        _________      _________   _________
                                                                            

UNAUDITED PROFIT AND LOSS ACCOUNT

For half year ended 30 November 2007

                                          Six months   Six months      Year    
                                            ended         ended                
                                                                       Ended   
                                         30 November   30 November             
                                             2007         2006        31 May   
                                                                               
                                                                       2007    
                                                                               
                                         (Unaudited)   (Unaudited)   (Audited) 
                                                                               
                                              €             €            €     
                                                                               
Operating expenses                          (166,698)     (173,624)   (376,320)
                                                                               
Other income                                        -         1,261       1,261
                                                                               
                                             ________      ________    ________
                                                                               
Loss on ordinary activities                 (166,698)     (172,363)   (375,059)
                                                                               
Tax on loss on ordinary activities                  -             -           -
                                                                               
Loss for period                             (166,698)     (172,363)   (375,059)
                                                                               
Profit and loss account at beginning of   (2,293,037)   (1,983,678) (1,917,978)
period                                                                         
                                                                               
Profit and Loss account at end of period  (2,459,735)   (2,156,041) (2,293,037)
                                                                               
Loss per share                              (€0.0016)     (€0.0020)   (€0.0038)

UNAUDITED CASH FLOW STATEMENT

For half year ended 30 November 2007

                                         30 November  30 November    31 May   
                                             2007         2006                
                                                                      2007    
                                                                              
                                         (Unaudited)  (Unaudited)   (Audited) 
                                                                              
                                              €            €            €     
                                                                              
Net Cash Outflow from Operating             (165,744)    (341,098)   (385,743)
Activities                                                                    
                                                                              
Capital Expenditure and Financial           (205,581)  (1,452,063) (1,520,936)
Investments                                                                   
                                                                              
                                             ________     ________   _________
                                                                              
Net Cash Outflow before financing           (371,325)  (1,793,161) (1,906,679)
                                                                              
Financing                                     315,977    1,499,603  1,700,236)
                                                                              
                                             ________     ________    ________
                                                                              
Decrease in Cash                             (55,348)    (293,558)   (206,443)

Notes to the Financial Statements

1. Publication of non-statutory accounts

The financial information set out in this document does not comprise the
statutory accounts of the Company.

2. Loss per share

The calculation of the loss per ordinary share of €0.0016 (2006 - €0.0020) is
based on the loss for the half year of €166,698 (2006 - €172,363) and the
weighted average number of ordinary shares on a basic and fully diluted basis
during the period of 105,688,297 (2006 - 88,001,036). Share options and
warrants are not included in the calculation of fully diluted shares since the
Company incurred a loss in 2007 which results in these potential shares being
anti-dilutive.

3. Dividends

No dividends were paid or are proposed in respect of the period ended 30
November, 2007.

4. A copy of the Interim Report will be sent to all shareholders shortly and
will be available from the Company's registered office, 10 Upper Pembroke
Street, Dublin 2.

Further enquiries:

Professor Richard Conroy

Conroy Diamond and Gold plc 00 353 1 661 8958

Jeffrey Coburn

John East & Partners Limited 020 7628 2200

Charles Dampney

City Capital Limited 020 7822 7107