Issue of Equity

27 September 2011


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

                        Subscription to raise £750,000                         

  * Subscription for 20,689,655 new ordinary shares at 3.625 pence per share
    together with 20,689,655 warrants to raise £750,000 before expenses
   
  * Proceeds of the subscription to be applied to fund the Company's ongoing
    programme at its Clontibret gold target and for working capital generally
   
Conroy (AIM: CGNR), the gold exploration and development company focused on
Ireland, announces that it has conditionally raised £750,000, prior to
expenses, through a subscription (the "Subscription") of 20,689,655 ordinary
shares of EUR 0.03 in the capital of the Company (the "Subscription Shares")
and 20,689,655 warrants at an exercise price of 4.25p per warrant (the
"Warrants"), together the "Subscription Units", at a price of 3.625 pence per
Subscription Unit (the "Subscription Price").

As part of the Subscription, Professor Richard Conroy, Chairman of the Company,
has subscribed for 6,896,552 Subscription Units, consisting of 6,896,552
Subscription Shares and 6,896,552 Warrants. Following the admission of the
Subscription Shares ("Admission"), Professor Richard Conroy will hold
57,274,191 Ordinary Shares in the Company, representing 22.80 per cent. of the
Company's enlarged share capital and total voting rights. Professor Conroy's
holding includes 19,294,286 Ordinary Shares held by Conroy plc, a company in
which Professor Conroy has a controlling interest.

In addition, T1ps.com Gold Fund has subscribed for 9,655,172 Subscription
Units, consisting of 9,655,172 Subscription Shares and 9,655,172 Warrants.
Following Admission, T1ps Investments Management (IOM) Limited, which manages
the T1ps.com Gold Fund, will be interested in 19,503,029 Ordinary Shares in the
Company, representing 7.77 per cent. of the Company's enlarged share capital
and total voting rights. These shares are registered in the name of Bank of New
York Nominees.

Furthermore, Patrick O'Sullivan has subscribed for 4,137,931 Subscription
Units, consisting of 4,137,931 Subscription Shares and 4,137,931 Warrants.
Following Admission, Patrick O'Sullivan, will be interested in 16,637,931
Ordinary Shares in the Company, representing 6.62 per cent. of the Company's
enlarged share capital and total voting rights.

The Subscription is conditional, inter alia, on admission of the Subscription
Shares to trading on AIM and the Enterprise Securities Market operated by the
Irish Stock Exchange Limited ("ESM"). The Subscription Shares will rank pari
passu with the existing issued ordinary shares of EUR 0.03 in the capital of
the Company ("Ordinary Shares").

The Warrants can be exercised at any time from admission of the Subscription
Shares to the second anniversary of the admission of the Subscription Shares.
The Warrants also contain a mandatory exercise clause if the closing price of
the Ordinary Shares remains at 5.5p or higher for five or more consecutive
business days.

The Company intends to use the proceeds of the Subscription primarily to fund
the Company's ongoing programme at its Clontibret gold target and for working
capital generally.

Application has been made to AIM and ESM for the Subscription Shares to be
admitted to trading. Admission and trading in the New Shares are expected to
commence on 3 October 2011.

On admission of the 20,689,655 Subscription Shares, the Company will have
251,154,142 Ordinary Shares in issue in total.

Professor Richard Conroy, Chairman, commented:

"I am delighted to announce the Subscription done at a premium over the market
price and the Warrants with a mandatory exercise clause. The funds will enable
the Company to accelerate the pace of work at Clontibret where the Company
plans to develop a gold mine."

Further Information:

Conroy Gold and Natural Resources plc                   Tel: [phone]   
                                                                               
Professor Richard Conroy, Chairman                                             
                                                                               
Merchant Securities Limited (Nomad)                     Tel: [phone]  
                                                                               
Simon Clements/Virginia Bull                                                   
                                                                               
XCAP Securities PLC (Broker)                            Tel: [phone]  
                                                                               
John Grant/ Karen Kelly/ David Lawman                                          
                                                                               
IBI Corporate Finance Limited (ESM Adviser)             Tel:[phone]    
                                                                               
Brian Farrell                                                                  
                                                                               
Lothbury Financial Services                             Tel: [phone]  
                                                                               
Michael Padley/Michael Spriggs                                                 
                                                                               
Hall Communications                                     Tel: [phone]   
                                                                               
Don Hall                                                                       

Visit the website at: www.conroygoldandnaturalresources.com