Drilling Results at Clontibret Gold Project

23 March 2012

                                                                               
                     Conroy Gold and Natural Resources plc                     

                          ("Conroy" or "the Company")                          

                  Drilling Results at Clontibret Gold Project                  

  * Completion of latest phase of infill drilling
   
  * 22.9 metres of 1.59 grammes per tonne (g/t) gold, including 14.55 metres of
    2.28 g/t
   
  * 2.2 metres of 3.49 g/t gold
   
  * 3.4 metres of 2.51 g/t gold, including 1.8 metres of 4.34 g/t
   
  * Material for metallurgical studies now available
   
Conroy (AIM: CGNR; ESM: CGNR.I) is pleased to announce further results from its
infill drilling programme at its Clontibret gold project in Co. Monaghan,
Ireland which completes the latest phase of infill drilling totalling 3,258
metres.

This phase of the infill drilling programme concentrated on further defining
the resource area within the pit area as proposed in the scoping study by Tetra
Tech Wardrop ("Tetra Tech"). Both lode zones and the stockwork zone were
identified. The results confirmed good continuity with the known mineralisation
in the area. These drill holes and the previous infill drill holes have also
provided geotechnical information for mine design purposes together with ore
material for metallurgical test work.

All the drill holes reported here were angled holes. The results included gold
intersections to a down hole depth of 265.5 metres, a vertical depth of
approximately 188 metres. One drill hole intersected 2.2 metres of 3.49 g/t
gold from 116.1 metres. It also intersected 22.9 metres of 1.59 g/t gold from
232.95 metres including 14.55 metres of 2.28 g/t gold from 235.25 metres (see
Table 1 below).

Table 1

Drill Hole          From (m)  Intercept (m) Au (g/t)
                                                    
Intersection           116.1            2.2     3.49
                                                    
Intersection          232.95           22.9     1.59
                                                    
incl.                 235.25          14.55     2.28

A further drill hole drilled to a down hole depth of 185 metres (approximately
142 metres vertically intersected 3.4 metres of 2.51 g/t from 51.10 metres,
including 1.8 metres at 4.34 g/t gold. It also intersected 2.2 metres of 0.95 g
/t gold from 76.5 metres and 2.3 metres of 1.23 g/t gold from 91.15 metres and
2.0 metres of 0.73 g/t gold from 116.7 metres (see Table 2).

Table 2

Drill Hole          From (m)  Intercept (m) Au (g/t)
                                                    
Intersection            51.1            3.4     2.51
                                                    
incl.                   51.1            1.8     4.34
                                                    
Intersection            76.5            2.2     0.95
                                                    
Intersection           91.15            2.3     1.23
                                                    
Intersection           116.7              2     0.73

A further drill hole in this series was drilled to a down hole depth of 210
metres (approximately 148 metres vertically). This hole intersected 2.0 metres
of 1.9 g/t gold from 85.0 metres, it also intersected 2.0 metres of 1.48 g/t
gold from 132.5 metres and 2.0 metres of 0.79 g/t gold from 160.6 metres (see
Table 3 below).

Table 3

Drill Hole          From (m)  Intercept (m) Au (g/t)
                                                    
Intersection              85              2      1.9
                                                    
Intersection           132.5              2     1.48
                                                    
Intersection           160.6              2     0.79

These results follow on from the Clontibret Gold Project Scoping Study Update
by Tetra Tech which showed an increase in the resource to over 600,000 ounces
gold prepared according to the Australasian Joint Ore Reserve Committee (JORC)
guidelines, a mine life of 11.2 years, a payback period of two years, an
internal rate of return of 49.4 per cent. and a net present value, at an 8 per
cent. discount, of US $72.3 million at a base case gold price of US $1,372.
This area only forms 20 per cent. of the Clontibret target with the remaining
80 per cent. to be fully tested. The Clontibret target is one of five primary
targets identified by the Company along a 30 mile (50 Km) gold trend.

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, Chairman, Professor Richard Conroy said:

"I am very pleased with the on-going results of the infill drilling programme.
These will allow us to continue our forward progress following the updated
scoping study by Tetra Tech with a view to developing an open pit gold mine at
Clontibret."

Further Information:

Conroy Gold and Natural Resources plc                                          
Professor Richard Conroy, Chairman               Tel: [phone]
                                                      
Merchant Securities Limited (Nomad)                                            
Simon Clements/Virginia Bull                     Tel: [phone]                                                  
                                                                               
Shore CapitalStockbrokers Limited(Broker)                                      
Jerry Keen/Bidhi Bhoma/Toby Gibbs                Tel: [phone]             
                                                                               
IBI Corporate Finance Limited (ESM Adviser)                                    
Brian Farrell                                    Tel:[phone]
                                                                               
Lothbury Financial Services                                                    
Michael Padley/Michael Spriggs                   Tel: [phone]
                                                                               
Hall Communications                                                            
Don Hall                                         Tel: [phone]
                                                                               
Visit the website at: www.conroygoldandnaturalresources.com