More Positive Results from Clontibret

6 July 2011

                                                                               
                     Conroy Gold and Natural Resources plc                     
                          ("Conroy" or "the Company")                          

              More Positive Results from Clontibret Infill Drilling

  * 19.35 metres of 1.21 grammes per tonne (g/t) gold, including 11 metres of
    1.41 g/t
   
  * 2.38 metres of 3.48 grammes per tonne (g/t) gold, including 0.88 metres of
    8.99 g/t
   
  * Results derived from an additional two drill holes in 3,500 metres infill
    drilling programme
   
Conroy (AIM: CGNR; ESM: CGNR.I) is pleased to announce that it has received
further positive results from an additional two drill holes completed. This
gives a total of five drill holes now reported totalling 886.8 metres in its
ongoing 3,500 metres infill drilling programme at its Clontibret gold project,
in Co. Monaghan, Ireland, where the Company plans to develop a conventional
open pit gold mine.

The Company's strategy is to bring a mine into operation as soon as possible.
The infill drilling is designed to enhance the resource, evaluate possible
strike and down-dip extensions and to provide material for metallurgical test
work.

One of the two holes drilled was angled and 208.20 metres in length, to a
vertical depth of approximately 159 metres. The drill hole intersected: (i)
4.10 metres of 1.52 g/t gold from 44.00 metres; (ii) 3.00 metres of 1.89 g/t
gold from 126.95 metres; (iii) 1.75 metres of 0.79 g/t gold from 166.15 metres;
and (iv) 19.35 metres of 1.21 g/t gold from 175.90 metres including 5.60 metres
of 1.28 g/t gold from 175.90 metres and also including 11.00 metres of 1.41 g/t
gold from 184.10 metres.

Drill Hole       From (m)   Intercept (m)  Au (g/t) 
                                                    
Intersection             44           4.10      1.52
                                                    
Intersection         126.95           3.00      1.89
                                                    
Intersection         166.15           1.75      0.79
                                                    
Intersection         175.90          19.35      1.21
                                                    
incl.                175.90           5.60      1.28
                                                    
incl.                184.10          11.00      1.41

The other drill hole was also angled and 157.5 metres in length, to a vertical
depth of approximately 111 metres. This drill hole intersected: (i) 1.50 metres
of 1.74 g/t gold from 32.5 metres; and (ii) 2.38 metres of 3.48 g/t gold from
110.79 metres including 0.88 metres at 8.99 g/t from 112.29 metres.

Drill Hole       From (m)   Intercept (m)  Au (g/t) 
                                                    
Intersection           32.5           1.50      1.74
                                                    
Intersection         110.79           2.38      3.48
                                                    
incl.                112.29           0.88      8.99

Arenites were again the main lithology encountered in the holes with some
smaller amounts of Argillite.

The infill drilling programme is focussed around the open pit area that was
defined following the positive results (on both technical and financial
grounds) of the scoping study completed by Wardrop Engineering Inc. The
drilling programme will also provide information for mine design purposes
together with ore material for metallurgical test work.

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:

"These are further excellent results from the infill drilling with the widths
of mineralisation being very substantial up to 19.35 metres with some very high
grade intersections of 8.99 g/t Au and we remain confident that we can build
upon these and enhance the identified resource".

Further Information:

Conroy Gold and Natural Resources plc                   Tel: [phone]   
                                                                               
Professor Richard Conroy, Chairman                                             
                                                                               
Merchant Securities Limited (Nomad)                     Tel: [phone]  
                                                                               
Simon Clements/Virginia Bull,                                                  
                                                                               
XCAP Securities PLC (Broker)                            Tel: [phone]  
                                                                               
John Grant/ Karen Kelly/ David Lawman                                          
                                                                               
IBI Corporate Finance Limited (ESM Adviser)             Tel [phone]    
                                                                               
Brian Farrell                                                                  
                                                                               
Lothbury Financial Services                             Tel: [phone]  
                                                                               
Michael Padley/Michael Spriggs                                                 
                                                                               
Hall Communications                                     Tel: [phone]   
                                                                               
Don Hall                                                                       

Visit the website at: www.conroygoldandnaturalresources.com

Background on Scoping Study

As set out in the Company's announcement dated 7 February 2011, a conventional
open pit operation was designed by Wardrop Engineering Inc as part of the
Scoping Study. Gold mineralisation at Clontibret occurs in two styles - high
grade lode style mineralisation and disseminated gold in stockwork. The scoping
study concentrated on the high grade lode zones and some higher grade zones
within the stockwork at a minimum width of two metres with a total resource of
over 500,000 oz gold. A pit optimisation commodity baseline of US$970/oz gold
price was applied for the purposes of the study with a potential gold recovery
of 174,840 oz gold, a head grade of 2.13g/t oz gold, a process rate of 400,000
tonnes per annum, an assumed overall gold recovery of approximately 88 per
cent. and a mine life of 7.2 years - giving an average annual production rate
of over 24,000 oz of gold.

The economic evaluation was based on a pre-tax financial model, taking a base
case commodity price for gold of US$1,144/oz. This gave a 17.7 per cent.
Internal Rate of Return (IRR) and a Net Present Value (NPV), at 8 per cent
discount rate, of US$14.4M. Reflecting recent current gold prices, a rate of 20
per cent over the base case - US $1,373, gives an IRR of 58.3 per cent. and an
NPV of US$77.9M.

The area of the Scoping Study comprises only 20 per cent of the Clontibret
target. The remaining 80 per cent of the Clontibret target remains open and two
other larger targets (Clay Lake and Glenish) lie in close (7km / 4.5miles)
proximity. In total there are five large targets along a 50km gold trend.