New Gold Targets Identified

Conroy Diamonds & Gold PLC
04 April 2005


                          CONROY DIAMONDS AND GOLD PLC


                     CONROY IDENTIFIES TEN NEW GOLD TARGETS
                          IN LATEST SAMPLING PROGRAMME


   • Anomalies Up To 500m Long With Gold Values Ranging Up To 739ppb

   • All Located Within Area Identified By SRK As Highly Prospective

   • Contiguous Sampling Now Covers Over 50km2 Of Armagh-Monaghan Gold Belt

Ten new gold targets for follow-up work have been identified in the latest phase
of Conroy Diamond and Gold's ongoing regional geochemical soil sampling
programme. This has more than doubled the number of gold targets on the
company's exploration licences which cover some 1,500km2 of the Longford-Down
Massif in the north of Ireland.

All ten new targets lie within a 20km2 area which straddles the Orlock Bridge
Fault between the known gold occurrences at Tullybuck-Lisglassan and Glenish in
the Armagh-Monaghan Gold Belt. The Orlock Bridge fault is believed to be a
controlling factor on gold mineralisation within the company's licences, which
form a continuous block extending some 110km from Armagh to County Cavan.

Significantly, the new targets also lie within one of the three areas identified
by SRK Consulting in its review of Conroy's gold properties as being highly
prospective. These areas have been targeted because they relate to intersections
of major deep-seated lineaments and the Orlock Bridge Fault. Such lineaments are
of particular importance as economic gold deposits elsewhere in the world are
often found on or near such structures.

The latest programme involved the collection and analysis of approximately 1,000
soil samples, with individual gold values of up to 739ppb, 434ppb, 267ppb,
222ppb and 178ppb reported from separate anomalies. These are very high values
when viewed against a background of less than 4ppb and where values over 10ppb
gold are considered anomalous.

The individual anomalies are extensive, ranging up to 500m in length.

An area of more than 50km2 of the Armagh-Monaghan Gold Belt has now been covered
by contiguous geochemical soil sampling under Conroy's regional exploration
programmes. The company's exploration strategy, endorsed by SRK, is to identify
areas of gold anomalism through such regional sampling and further investigate
anomalies through a combination of deep overburden sampling, trenching and/or
drilling. This strategy has led to significant gold discoveries at
Cargalisgorran in County Armagh and Glenish in County Monaghan.

It is anticipated that future field programmes will include follow up work on
all 10 new anomalies. Meanwhile, work continues at other locations within
Conroy's exploration licences.

Further Info: Professor Richard Conroy, Chairman Conroy Diamonds and Gold Plc.
Tel: [phone]

Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: [phone]
Visit website at: www.conroydiamondsandgold.com




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