Drilling Report

Conroy Diamonds & Gold PLC
6 December 2000



          Conroy Begins Drilling On New County Armagh Gold Prospect


                      Results Expected Early In New Year






AIM-listed Conroy Diamonds and Gold Plc has begun drilling at a new prospect
in County Armagh, 6.5km north-east along trend from its Tullybuck-Lisglassan
gold deposit in County Monaghan. The company has previously reported bedrock
gold and base metals mineralisation at this prospect in trenching over an area
where soil geochemistry had shown highly anomalous gold values. Channel
sampling of the trenching returned elevated bedrock gold and base metal values
over intervals in excess of 10m.


Conroy has demonstrated that the Tullybuck-Lisglassan deposit contains
significant mineralisation over mineable widths in a series of steeply dipping
veins and lodes extending almost to surface. The company recently reported its
best-ever drill hole intersection at Tullybuck-Lisglassan - 2.84m grading
14.40g/t gold, including a 1.77m section which averaged 22.03g/t - from a
downhole depth of 46m.


Both Tullybuck-Lisglassan and the new prospect lie within the Armagh-Monaghan
gold belt, a large area (currently 18km long and up to 3km wide) in which
Conroy has identified numerous gold and base metals soil anomalies. The
company's regional geological model suggests that the mineralisation within
this belt is influenced by the presence of the Orlock Bridge Fault, a major
regional geological structure, with cross faulting breaking up the belt into a
number of discrete fault blocks.


Tullybuck-Lisglassan lies within one such block and the new prospect is
located within another. The two are separated by at least one, and possibly
two, further untested fault blocks.


The latest drilling programme in Armagh is designed to test for mineralisation
beneath that identified in the surface trenching. Results are expected early
in the New Year.