Issue of Equity

25 August 2009                                                                 

                        Conroy Diamonds and Gold P.l.c.                        

                          ("Conroy" or "the Company")                          

                        Subscription to raise €264,000                         

Conroy (AIM:CDG) is pleased to announce that it has raised a total of €264,000
by way of a subscription of 8.8 million new ordinary shares (the "Subscription
Shares") with private client stockbrokers.

Conroy intends to use the proceeds of the Placing, primarily to fund the
ongoing work programmes at its gold prospects in Ireland, in relation to which
the Company has already announced the discovery of in excess of 1 million
ounces of gold resources, and for working capital generally.

In addition, Wills & Co will be issued 400,000 shares at a price of 3.75p per
share in lieu of £15,000 of fees (the "Fee Shares") for the provision of
research and access to its subscriber database.

Professor Richard Conroy, Chairman commented:

"Our primary focus is the delineation and development of our gold discoveries
in Ireland and these monies will allow us to move the projects forward, quite
significantly.."

Following the admission of the Subscription Shares and the Fee Shares to
trading on AIM, the Company will have a total of 114,888,297 shares in issue.

Application has been made to the London Stock Exchange for the Subscription
Shares and Fee Shares to be admitted to trading on AIM and it is expected that
admission will become effective and trading will commence on 28 August 2009.

Enquiries:

Conroy Diamonds and Gold Plc                                                 

Professor Richard Conroy, Chairman        [phone]                    
                                                                             
John East & Partners Limited, a                                              
subsidiary of Merchant Securities Plc                                        
(Nomad)                                                                      
                                                                             
Simon Clements/Virginia Bull              [phone]                   
                                                                             
Lothbury Financial                                                           
                                                                             
Ron Marshman/Michael Padley               [phone]                   
                                                                             

Further details on Conroy Diamonds and Gold can be found on its website at: 
www.conroydiamondsandgold.com