Trenching Results

Conroy Diamonds & Gold PLC
01 October 2003

                                                                 OCTOBER 1, 2003

             TRENCHING REVEALS TWO SEPARATE ZONES OF MINERALISATION

                  AT BALLYGREANY - CONROY'S NEW GOLD PROSPECT

   •Further Trenching Now Completed - Drilling To Follow Shortly
   •Mineralised Structures Parallel To Large Gold-In-Soil Anomaly

AIM-listed Conroy Diamonds and Gold Plc says that initial trenching at its
newest gold prospect at Ballygreany in County Monaghan has revealed two separate
zones of gold in bedrock, approximately 30m apart. Channel sampling of two
trenches, about 80m apart along strike, returned a best result of 8m averaging
0.78g/t gold, with individual grab samples of up to 2.25g/t gold.

A further trenching programme has now been completed and assay results are
awaited. Once these have been received and assessed, an immediate start will be
made on drilling the prospect.

Conroy has previously outlined a well-defined gold anomaly at Ballygreany
measuring 500m by 125m which includes some of the highest gold-in-soil values
encountered anywhere in the company's Irish gold search. Ballygreany lies less
than 1km east of the company's original gold discovery at Tullybuck-Lisglassan.

The trenching at Ballygreany shows the gold mineralisation to be broadly
associated with zones of conformable quartz-ankerite veins hosted within sheared
medium-grained arenites (sandstones) and interbedded argillites (mudstones). The
quartz-rich zones strike approximately ENE-WSW and are parallel to the 500m long
gold-in-soil anomaly. Within these zones, the gold mineralisation is associated
with sulphide mineralisation in the form of pyrite.

Conroy holds prospecting licences over 1,500km2 of the Longford Down Massif
where it has outlined the Armagh-Monaghan Gold Belt extending over an area of
20km by 3km to date. Within a 6.5km long section of this Gold Belt the company
has discovered two gold deposits and identified three other zones of gold
mineralisation. It has also outlined many other areas of strongly anomalous
gold-in-soil values within this Belt as well as elsewhere within the Massif.

These discoveries are interpreted as forming part of a larger mineralised system
controlled by common structural elements.

Further Information:

 Professor Richard Conroy, Chairman, Conroy Diamonds and Gold Plc.

 Tel: [phone]

Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: [phone]

Visit our website at: www.conroydiamondsandgold.com




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