18 metre Wide Zone of Gold Mineralisation ident...

24 November 2009                                                               

                        Conroy Diamonds and Gold P.l.c.                        

                          ("Conroy" or "the Company")                          

18 metre Wide Zone of Gold Mineralisation at Clay Lake Identified by Rock Chip 
                                   Sampling                                    

  * Values Range Up To 1.69 grammes per tonne ("g/t") Gold With Average Of
    0.47g/t
   
  * Sample Traverse Crosses Trend Of Previously Identified Structures
   
  * Best Values Obtained From Last Three Metres Of Rock Exposure
   
Conroy (AIM:CDG) is pleased to announce that systematic rock chip sampling and
detailed geological mapping of a stream bed in the northern corner of its
extensive Clay Lake gold anomaly in Co. Armagh has returned positive results
for gold-in-bedrock, indicating the presence of a broad zone of mineralisation
and quartz stockwork.

An 18m wide zone of mineralisation with an average grade of 0.47g/t gold has
been identified within a sequence of shales and quartz stockwork, with
individual samples ranging up to 1.69g/t gold. The last three metres of the
sampled section, up to the limits of rock exposure, returned the highest
values, with an average grade of 1.3g/t gold. The 18m section, which was
sampled at one metre intervals, also returned elevated silver values of up to
1.4g/t.

The presence of silver is interesting in itself and also indicates that the
gold at Clay Lake has different characteristics to that at Clontibret.

The sampled stream is located approximately 570m from, and at right angles to,
the stream from which previous rock chip sampling results were reported in
September 2009. As such, the direction of this latest sampling traverse would
crosscut the mineralised zones running North-South if these zones have the same
orientation as those in the Company's Clontibret and Cargalisgorran targets.
The latest results suggest that gold-associated sulphides at Clay Lake are
disseminating into the surrounding host rocks.

The Clay Lake gold anomaly is located about 7km to the North-East of the
Company's Clontibret gold discovery in Co. Monaghan, where a JORC-compliant
resource of over one million ounces of gold has thus far been identified within
approximately 20 per cent. of the total target area.

The Clay Lake gold-in-soil anomaly, which covers an area of about 141ha, is
larger than that at Clontibret (125 ha) and has returned the highest
gold-in-soil values ever recorded by the Company on its Irish licences.

This release has been approved by Kevin McNulty PGeo, who is a member of the
Company's technical staff, who holds a BSc/MSc in Geology and Remote Sensing,
in accordance with the guidance note for Mining, Oil & Gas Companies issued by
the London Stock Exchange in respect of AIM Companies, which outlines standards
of disclosure for mineral projects.

Commenting today, Chairman Professor Richard Conroy said:

"We are very pleased that our ongoing work programme at Clay Lake has returned
further positive gold-in-bedrock results as well as silver values for the first
time. The results are particularly significant since the direction of the
sampling traverse cuts across the trend of the mineralised zones. Furthermore,
the best values were obtained from the last few metres of exposed rock and the
mineralisation therefore appears to be open beyond that point. The results also
confirm that mineralisation is pervasive in the area."

Enquiries:

Conroy Diamonds and Gold Plc                                                   
                                                                               
Professor Richard Conroy, Chairman                              [phone]
                                                                               
Conroy Diamonds and Gold Plc                                                   
                                                                               
Professor Richard Conroy, Chairman                              [phone]
                                                                               
Merchant John East Securities Limited (Nomad)                                  
                                                                               
Simon Clements/Virginia Bull                                   [phone]
                                                                               
Lothbury Financial                                                             
                                                                               
Ron Marshman/Michael Padley                                    [phone]

Further details on Conroy Diamonds and Gold can be found on its website at: 
www.conroydiamondsandgold.com

Conroy Share Price