Positive Results of Scoping Report

7 February 2011

                                                                               
                     Conroy Gold and Natural Resources plc                     

                          ("Conroy" or "the Company")                          

Positive Results of Scoping Report on Clontibret Gold Project

  * Positive results on both financial and technical grounds
   
  * Infill drilling and pre-feasibility studies recommended to proceed at
    Clontibret
   
  * Potential for a multi deposit strategy
   
Conroy (AIM: CGNR; ESM: CGNR.I), the Irish based resource company exploring and
developing gold and other natural resource projects in Ireland, is pleased to
announce that it has received positive results from the independent Scoping
Study prepared by Wardrop Engineering Inc., A Tetra Tech Company, ("Wardrop")
on its 100 per cent owned Clontibret gold project. The study, which was
developed to Joint Ore Reserves Committee ("JORC") standard, was focused on the
Tullybuck-Lisglassan area which comprises approximately 20 per cent. of the
Clontibret gold prospect.

Wardrop has recommended that in view of the positive outcome of the technical
and financial studies that infill and step-out drilling on strike together with
metallurgical studies be carried out with a view to progressing the project
towards pre-feasibility and definitive feasibility stages and that the
potential for a multi deposit strategy is worthy of further evaluation.

Gold mineralisation at Clontibret occurs in two styles - high grade lode style
mineralisation and disseminated gold in stockwork. The scoping study has
concentrated on the high grade lode zones and some higher grade zones within
the stockwork at a minimum width of two metres. A long term gold price of
US$970 and associated mining and processing costs was used to determine the in
situ cut-off grade at 0.60 g/t gold giving a resource as summarised in the
table below:

Summary of Resource estimate for the Tullybuck-Lisglassan area of the
Clontibret deposit

        Indicated                  Inferred                    Total           
                                                                               
 Tonnes   Au (g/    Ozt     Tonnes   Au (g/    Ozt    Tonnes   Au (g/t)   Ozt  
            t)                         t)                                      
                                                                               
2,765,400   1.7   151,900  6,569,000   1.7   354,000 9,334,400   1.7    505,900

   Note: Contained metal estimates remain subject to factors such as mining    
                     dilution and process recovery losses.                     

A conventional open pit operation using a pit optimisation commodity baseline
of US$970/oz gold price was applied for the purposes of the study with a
potential gold recovery of 174,840 oz gold, a head grade of 2.13g/t oz gold, a
process rate of 400,000 tonnes per annum, an assumed overall gold recovery of
approximately 88 per cent. and a mine life of 7.2 years giving an average
annual production rate of over 24,000 oz of gold.

The economic evaluation was based on a pre-tax financial model, taking a base
case commodity price for gold of US$1,144/oz. This gave a 17.7 per cent.
Internal Rate of Return (IRR) and a Net Present Value (NPV), at 8 per cent
discount rate, of US$14.4M. Reflecting recent current gold prices, a rate of 20
per cent over the base case - US $1,373, gives an IRR of 58.3 per cent. and an
NPV of US$77.9M.

Commenting, Chairman, Professor Richard Conroy said:

"I am very pleased with the result of the Scoping Report prepared by Wardrop.
The positive outcome of the scoping studies indicates that the Clontibret
project is viable and also provides a sound technical and financial foundation
to move forward to the next stages of the project in the knowledge that the ore
system remains open and further expansion of the resource is likely and that
the potential for a multi deposit strategy is worthy of evaluation."

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]    
                                                                               
John Tuite                                                                     
                                                                               
Lothbury Financial Services                             Tel: [phone]  
                                                                               
Michael Padley/Michael Spriggs                                                 
                                                                               
Hall Communications                                     Tel: [phone]   
                                                                               
Don Hall                                                                       

Visit the website at: www.conroygoldandnaturalresources.com

This press release has been verified by Paul Gribble C.Eng, Competent person
for Resource Estimation, Jon Priest C.Eng Competent Person for Mining and
Andrew Carter C.Eng, Competent Person for Mineral Processing. The text is based
on and fairly and accurately reflects in the form and context in which it
appears, the information in the supporting documentation relating to Mineral
Resources and the Scoping Study. All the above named persons are employees of
Wardrop and are independent of Conroy.