Issue of Equity

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon publication of this announcement, this inside information is now considered to be in the public domain.

                                                                        28 August 2018

Conroy Gold and Natural Resources plc

(“Conroy Gold” or “the Company”)

Placing to raise £500,000 (€556,545)

• Placing of 3,636,365 new ordinary shares at 13.75 pence per share to raise £500,000 (€556,545)

• Proceeds of the Placing to be used for the advancement of the Company’s gold assets in Ireland

Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development company focused on Ireland and Finland, is pleased to announce that it has conditionally raised £500,000 (€556,545), through a Placing (the “Placing”) of 3,636,365 ordinary shares of €0.001 in the capital of the Company (the “Placing Shares”) at a price of 13.75 pence per Placing Share, being a premium of 20 percent to the closing mid-market price on 24 August 2018 (being the last practicable date prior to the completion of the Placing).

The Placing is conditional on admission of the Placing Shares to trading on AIM. The Placing Shares will rank pari passu with the existing issued ordinary shares of €0.001 in the capital of the Company (“Ordinary Shares”).

The Company intends to use the proceeds of the placing to fund the advancement of the Company’s gold assets, in particular the development of the Clontibret deposit, together with exploration focussed on the Clay Lake, Glenish and Slieve Glah gold prospects within the 40 mile (65 km) Armagh-Monaghan-Cavan gold belt and for working capital generally.

Application has been made to AIM for the Placing Shares to be admitted to trading. It is expected that admission will become effective on 31 August 2018.

Following the issue of the Placing Shares, and for the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital on Admission will consist of 23,693,039 Ordinary Shares.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.

Professor Richard Conroy, Chairman commented:

“I am pleased to report that this Placing will allow the momentum achieved from the excellent drilling results that we recently reported to be continued over the coming months.” 

For further information please contact:

Conroy Gold and Natural Resources plc	Tel: [phone]
Professor Richard Conroy, Chairman
Allenby Capital Limited (Nomad)	Tel: [phone]
Virginia Bull/Nick Harriss
Brandon Hill Capital Limited (Broker)	Tel: [phone]
Jonathan Evans
Lothbury Financial Services	Tel: [phone]
Michael Padley
Hall Communications	Tel: [phone]
Don Hall

Visit the website at: www.conroygold.com