Further re: Irish gold deposits

For immediate release

                                                                OCTOBER 9, 2006

                         Conroy Diamonds and Gold Plc                          

                          ("Conroy" or the "Company")                          

  DETAILED REVIEW OF DRILL CORE PLUS ADDITIONAL ASSAYING RAISES DIMENSIONS OF  
                                  GOLD ZONES                                   

                            AT TULLYBUCK-LISGLASSAN                            

  * Over 400m Of Previous Drilling Assayed For First Time
   
  * First Step In Programme To "Focus In" On Known Gold Discoveries
   
As part of a programme to focus in on the gold discoveries it has made on its
licences in the Longford-Down Massif in the north of Ireland, AIM-quoted Conroy
Diamonds and Gold Plc is undertaking a detailed review of the
Tullybuck-Lisglassan sector in County Monaghan. Amongst other things, this will
help the company refine its geological model for that sector.

Tullybuck-Lisglassan is the location of the company's first gold discovery in
the Armagh-Monaghan Gold Belt. . Further exploration success by Conroy since
this discovery means that Tullybuck-Lisglassan today represents just a small
part of the larger Clontibret gold target. This is currently known to cover an
area of 2.5km by 2.5km and also takes in several other gold discoveries made by
Conroy.

The initial stage of the review has comprised a detailed re-examination of the
entire drill core from Tullybuck-Lisglassan, including that generated by
previous operators. Amongst other things, this work has enabled Conroy to
identify a number of additional sections of mineralisation, and 403m of core
(in 1m sample lengths) from those sections was assayed for the first time.

Following receipt of the assay results, Conroy has been able to increase the
dimensions of some of the previously identified mineralised zones.

This additional data and interpretation has increased the company's
understanding of the immediate Tullybuck-Lisglassan sector and its geological
model. It has also enhanced its understanding of the larger Clontibret area and
company's other gold discoveries within both the Armagh-Monaghan Gold Belt and
elsewhere within the Massif.

This release is JORC compliant.

Further Information:

Professor Richard Conroy, Chairman Conroy Diamonds and Gold Plc. Tel:
00-353-1-661-8958

Charles Dampney, City Capital Securities Ltd. Tel: [phone]

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

Visit website at: www.conroydiamondsandgold.com