Results of ongoing drilling at Clay Lake

11 October 2010 Conroy Diamonds and Gold Plc ("Conroy" or "the Company") SUCCESSFUL RESULT FROM HOLES ON STEP OUT DRILLING PROGRAMME AT CLAY LAKE GOLD TARGET * Step out drill programme continues to give positive results - 13 zones of mineralisation intersected * 14 metres of 0.72 grammes per tonne ("g/t") gold, including 2 metres of 1.72g/t gold * Also intersections of 2 metres of 1.78g/t gold, 2 metres of 1.27g/t gold 2.4 metres of 0.92g/t gold, 3 metres of 0.82g/t gold and 3 metres 1.29g/t gold Conroy (AIM: CDG; ESM: CDGI) is pleased to announce that the ongoing step out drilling programme, in the north-western corner of its Clay Lake gold target in Co. Armagh, has returned positive results with 13 zones of mineralisation intersected. The step out programme of inclined holes follows on from previous positive gold results which demonstrated the presence of a broad zone of gold mineralisation. The first drill hole was 233 metres in length to a vertical depth of approximately 165 metres, which intersected 2.4 metres of 0.92g/t gold from 2.6 metres. This was followed by 2 metres of 1.78g/t gold from 26 metres followed by a 3 metres intersection of 0.82g/t gold from 113 metres, and a 2 metre intersection of 1.27g/t gold from 167 metres. The second drill hole was 161 metres in length to a vertical depth of approximately 114 metres, and it intersected 14 metres of 0.72g/t gold from 125 metres including 3 metres from 128 metres which averaged 1.72g/t gold. This was followed by 3 metres of 0.61g/t gold from 146 metres. The third drill hole, 161.35 metres in length to a vertical depth of approximately 114 metres, intersected 2 metres of 0.58g/t gold from 30 metres. This was followed by 1 metre of 1.22g/t gold from 36 metres followed by a 7 metres intersection of 0.35g/t gold and 4.6g/t silver from 87 metres, and 11 metres intersection of 0.43g/t gold and 3.2g/t silver from 145 metres including 3 metres of 0.82g/t gold and 5.7g/t silver. The fourth drill hole, which was 157 metres in length to a vertical depth of approximately 120 metres, intersected 7 metres of 0.95g/t gold from 69 metres including 3 metres of 1.29g/t gold from 83 metres. This was followed by 1 metre of 1.33g/t gold from 83 metres followed by a 1 metre intersection of 1.80g/t gold from 112 metres. Drill Hole From (m) Intercept (m) Au (g/t) Ag (g/t) Intersection: 2.6 2.4 0.92 - Intersection: 26 2 1.78 - Intersection: 113 3 0.82 - Intersection: 167 2 1.27 - Drill Hole From (m) Intercept (m) Au (g/t) Ag (g/t) Intersection: 125 14 0.72 - incl. 128 2 1.72 - Intersection: 146 3 0.61 - Drill Hole From (m) Intercept (m) Au (g/t) Ag (g/t) Intersection: 30 2 0.58 - Intersection: 36 1 1.22 - Intersection: 87 7 0.35 4.6 Intersection: 145 11 0.43 3.2 incl. 149 3 0.82 5.7 Drill Hole From (m) Intercept (m) Au (g/t) Ag (g/t) Intersection: 69 7 0.95 - incl. 73 3 1.29 - Intersection: 83 1 1.33 - Intersection: 112 1 1.80 - Arenites and argillites (shales) were the main lithologies in these holes. 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: "This is good news indeed, every one of the 7 holes that have been drilled so far, all in the top corner of the soil anomaly, have got gold mineralisation present. We believe that this confirms our view that Clay Lake is even more prospective than Clontibret where we have a 1 million oz resource identified already." Further Information: Professor Richard Conroy, Chairman, Conroy Diamonds and Tel: +353-1-661-8958 Gold plc Simon Clements/Virginia Bull, Merchant Securities Tel: +44-20-7628-2200 Limited (Nomad) John Tuite, IBI Corporate Finance Limited (ESM Adviser) Tel: +353-1-637-7800 John Grant/ Karen Kelly/ David Lawman, XCAP Securities Tel: +44-20-7101 7070 PLC (Broker) Michael Padley/Michael Spriggs, Lothbury Financial Tel: +44-20-7868-2567 Services Don Hall, Hall Communications Tel: +353-1-660-9377 Editors' Note The Clay Lake anomaly covers an area of about 141 hectares ("ha") and has returned the highest gold-in-soil values ever recorded by the Company on its Irish exploration licences. It is larger than that at Clontibret (125ha), 7km to the south-west where the Company has established a JORC-compliant gold resource of over 1 million ounces on only 20 per cent. of the target. Both targets are located along the 50km (30 mile) gold trend outlined on its licences. Visit the website at: www.conroydiamondsandgold.com
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