Result of EGM and Issue of Equity

26 February 2014

                                                                               
                     Conroy Gold and Natural Resources plc                     

                          ("Conroy" or "the Company")                          

  Result of EGM, Allotment of Shares and further Debt Conversion of £315,000   

  * Resolution providing for Capital Reorganisation passed
   
  * Allotment of 33,333,336 ordinary shares at 1.5p sterling raising £500,000
   
  * Further conversion of unsecured convertible debt amounting to £315,000 by
    directors of the Company at 2.65 pence per share
   
Capital Reorganisation and Subscription

Conroy (AIM: CGNR), (ESM: CGNR.I) the gold mining company focused on Ireland,
announces that, at the Company's Extraordinary General Meeting held earlier
today, the resolution to change each of the existing 306,779,844 Ordinary
Shares of €0.03 each into one Ordinary Share of €0.01 per share and one
Deferred Share of €0.02 per share was passed unanimously .In addition, the
fundraising announced on 3 February 2014 raising £500,000, through a
subscription (the "Subscription") of 33,333,336 Ordinary Shares of €0.01 in the
capital of the Company (the "Subscription Shares") at a price of 1.5 pence
Sterling per share ("Subscription Price") was completed.

Following implementation of the Capital Reorganisation and admission of the
Subscription Shares to trading on AIM and Enterprise Securities Market operated
by the Irish Stock Exchange Limited ("ESM") on 28 February 2014, the Company
will have 340,113,180 Ordinary Shares of €0.01 in issue.

Debt Capitalisation

Professor Richard Conroy and Miss Maureen Jones (both directors of Conroy) have
today converted, in aggregate, £315,000 of debt capital into 11,886,792 new
Ordinary Shares of €0.01 each at 2.65p per share (the "Conversion Shares") as
follows:

Director              Amount of       No. of new      Resultant      Percentage
                           debt  Ordinary Shares   shareholding interest in the
                      converted                                 enlarged issued
                                                                  share capital
                                                                               
Professor Conroy       £300,000       11,320,754     86,175,433           24.48
                                                                               
Maureen Jones           £15,000          566,038      5,896,991            1.68

This conversion price represents a premium of 35.9 per cent. to the closing
price on 25 February 2014, being the last practical date prior to the
conversion.

The participation of Professor Conroy and Maureen Jones in the debt conversion
is a related party transaction under the AIM Rules. The independent directors,
having consulted with the Company's nominated adviser and ESM adviser, consider
the terms of the debt capitalisation to be fair and reasonable insofar as the
Shareholders are concerned.

The debt conversion is conditional, inter alia, on admission of the Conversion
Shares to trading on AIM and the ESM. The Conversion Shares will rank pari
passu with the issued Ordinary Shares of €0.01 each, post the Capital
Reorganisation.

Application has been made to AIM and ESM for the Conversion Shares to be
admitted to trading and admission is expected to take place on 4 March 2014.
Following admission of the Conversion Shares the Company will have 351,999,972
shares in issue of which the Directors will hold 29.95 per cent.

The Directors will consider the conversion of the remainder of the convertible
debt and other amounts due to the Directors into Ordinary Shares in due course,
subject to the total Directors' holdings not exceeding 29.99 per cent of the
Company's issued share capital.

Professor Richard Conroy, Chairman, commented:

"I am pleased that the resolution providing for Capital Reorganisation was
passed unanimously and that the placing of shares to raise £500,000 has been
completed together with the further conversion of convertible debt amounting to
£315,000."

For further information please contact:

Conroy Gold and Natural Resources plc     Tel: [phone]        
Professor Richard Conroy, Chairman                                    
                                                                      
Sanlam Securities UK Limited (Nomad)      Tel: [phone]       
Simon Clements/Virginia Bull                                          
                                                                      
Hybridan LLP (Broker)                     Tel: [phone]/4351                        
Claire Noyce/William Lynne/Niall Pearson                              
                                                                      
IBI Corporate Finance Limited (ESM        Tel: [phone]       
Adviser)                                                              
Ger Heffernan                                                         
                                                                      
Lothbury Financial Services Limited       Tel: [phone]       
Michael Padley/Michael Spriggs                                        
                                                                      
Hall Communications                       Tel: [phone]        
Don Hall                                                              

Visit the website at: www.conroygold.com