Update on Clontibret Gold Deposit

19 September 2019

Conroy Gold and Natural Resources plc

(“Conroy Gold” or “the Company”)

CLONTIBRET GOLD DEPOSIT STRUCTURAL REVIEW

FACTORS CONTROLLING HIGHER GOLD GRADES IDENTIFIED

Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development Company focused on Ireland and Finland is pleased to announce an independent review of the structural controls on the Clontibret Gold Deposit, County Monaghan, Ireland by consultant structural geologist, Dr. Francis Murphy.

Highlights:

• Structural controls for higher gold grades and thicker gold intersections in Clontibret gold deposit identified

• Gold mineralising fault recognised in adjacent Corcaskea area

The structural review has identified the factors controlling the higher gold grades and thicker gold intersections along the gold lodes in the Clontibret gold deposit.

This information will be particularly valuable in targeting higher gold grades and thicker gold intersections in future drilling programmes.

The study also yielded valuable information in relation to the adjacent Corcaskea Area where high gold grades have been observed. In particular, that a mineralising fault (the Corcaskea Fault) represents a major control on the Corcaskea gold mineralisation, including the newly discovered gold outcrop. This could significantly increase the gold prospectivity of the Corcaskea area.

The study reviewed the geological data and structural controls for the Clontibret Gold Deposit. The study included assessing the lode geometry, the plunge component to the gold mineralisation and its controls in regard to fold axial traces and their relationship to mineralisation and to assess lithological contacts and competency contrasts in regard to gold mineralisation.

The factors identified in relation to high gold grades and wide gold intersections included faulting and fracturing on dip and strike inflections along the gold lodes and linkage zones between adjacent gold lodes in the Clontibret gold deposit, together with 50-70m half wavelength (i.e. closely spaced) anticline and syncline fold axis.

The study also emphasised the relationship of the gold lodes in the Clontibret Gold Deposit and Corcaskea area to the Orlock Bridge Fault Zone. This Fault Zone is a major geological structure which is considered to be a significant factor in controlling fluid (i.e. gold) migration along the entire 65km (40 mile) gold trend, in the Longford–Down Massif in Ireland, that the Company has discovered.

Professor Richard Conroy, Chairman, commented: 

“The identification of the factors relating to higher gold grades and wider gold intersections for the Clontibret Gold Deposit is a very positive step forward. The implications of the study for the gold prospectivity of the Corcaskea Area are also highly encouraging.”

For further information please contact:

Conroy Gold and Natural Resources plc	Tel: [phone]
Professor Richard Conroy, Chairman
Allenby Capital Limited (Nomad)	Tel: [phone]
Nick Athanas/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