Grant of Licences

Conroy Diamonds & Gold PLC
9 October 2000



   CONROY GRANTED ELEVEN ADDITIONAL PROSPECTING LICENCES OVER LONGFORD-DOWN
                                    MASSIF

  * Company's Land Holdings Now Cover 1,300km(2) Of The Longford-Down Massif

  * New Ground Straddles Orlock Bridge Fault Between Two Groups Of Existing
    Licences



AIM-listed Conroy Diamonds and Gold P.l.c. has been granted 11 additional
prospecting licences within the Longford-Down Massif. This is the major
geological structure which hosts the Company's Tullybuck/Lisglassan gold
deposit as well as the much larger Armagh-Monaghan gold belt, also held by the
Company, and of which Tullybuck-Lisglassan is a part. The new licences
increase the Company's land holding on the Longford-Down Massif to
approximately 1, 300km(2).


Conroy previously indicated it had applied for the new licences following
fieldwork which suggested the prospectivity of the Longford-Down Massif
continued for a further 30km to the south-west of Tullybuck/Lisglassan onto
the Company's two existing licences at Slieve Glah in County Cavan. Conroy
recognized the importance of the Orlock Bridge fault as one of the controlling
features for mineralisation in both areas.


The new licences straddle the Orlock Bridge fault in the 'gap' between the
Company's Slieve Glah licences and its licences in the Armagh-Monaghan gold
belt.


9th October 2000