TIDMCDG 
 
28 October 2010 
 
                       Conroy Diamonds and Gold Plc 
                         ("CDG" or the "Company") 
 
    Placing and subscription to raise GBP1.8 million and debt capitalisation 
 
  * Placing of 25,833,333 new ordinary shares at 6 pence per share to raise GBP 
    1,550,000 before expenses 
 
  * Subscription for 4,166,667 new ordinary shares at 6 pence per share to 
    raise GBP250,000 before expenses 
 
  * Debt capitalisation of GBP600,000 at 6 pence per share 
 
  * Proceeds of the placing to be applied to accelerate ongoing programmes at 
    its Clontibret and Clay Lake gold targets 
 
Conroy (AIM: CDG), the gold exploration and development company focused on 
Ireland, announces that it has conditionally raised GBP1.8 million, prior to 
expenses, through a placing (the "Placing") of 25,833,333 ordinary shares of 
EUR 0.03 in the capital of the Company (the "Placing Shares") at a price of 6 
pence per Placing Share (the "Placing Price"). Conroy also announces that it 
has conditionally raised GBP250,000, prior to expenses, through a subscription 
(the "Subscription") for 4,166,667 ordinary shares of EUR 0.03 in the capital 
of the Company (the "Subscription Shares") at a price of 6 pence per 
Subscription Share (the "Subscription Price"). In addition, Professor Richard 
Conroy, Chairman of the Company, has capitalised loans amounting to GBP600,000 by 
subscribing for 10,000,000 ordinary shares of EUR 0.03 in the capital of the 
Company at the Placing Price (together with the Placing Shares and Subscription 
Shares set out above ("New Shares")). 
 
Following the admission of the New Shares, Professor Richard Conroy will hold 
50,377,639 Ordinary Shares in the Company, representing approximately 21.9 per 
cent. of the Company's enlarged share capital and total voting rights. In 
addition, Mr Seamus Fitzpatrick, a Non-Executive Director of the Company, 
subscribed for 136,667 Ordinary Shares in the Placing. On admission, Mr 
Fitzpatrick will hold 315,667 ordinary shares in the Company, representing 0.14 
per cent. of the Company's enlarged share capital and total voting rights. 
 
The Placing Shares were placed with institutional and retail investors by XCAP 
Securities Plc ("XCAP"). The Placing and Subscription are conditional, inter 
alia, on admission of the Placing and Subscription Shares to trading on AIM and 
the Enterprise Securities Market operated by the Irish Stock Exchange Limited 
("ESM"). The New Shares will rank pari passu with the existing issued ordinary 
shares of EUR 0.03 in the capital of the Company ("Ordinary Shares"). 
 
The Company intends to use the net proceeds of the Placing and Subscription, 
amounting to approximately GBP1,675,000, primarily to fund the Company's ongoing 
programmes at its Clontibret and nearby Clay Lake gold targets and for working 
capital generally. 
 
The debt capitalisation by Professor Conroy is considered to be a Related Party 
Transaction under Rule 13 of the AIM Rules for Companies. With the exception of 
Professor Richard Conroy, the Company's directors consider, having consulted 
with the Company's nominated adviser, that the terms of the debt capitalisation 
are fair and reasonable insofar as the Company's shareholders are concerned. 
 
Application has been made to AIM and ESM for the New Shares to be admitted to 
trading. Admission and trading in the New Shares are expected to commence on 5 
November 2010. 
 
On admission of the 40,000,000 New Shares, the Company will have 230,464,487 
Ordinary Shares in issue in total. 
 
Professor Richard Conroy, Chairman, commented: 
 
"These monies will allow us to accelerate the development of our gold projects 
in Ireland. At one of our targets, Clontibret, we already have, on 20 per cent 
of the target, a resource of 1M oz, and another target, Clay Lake, has, we 
believe, even larger potential. 
 
"Additional drilling will be carried out on both licence areas and we will 
continue with the scoping and environmental studies at Clontibret." 
 
Further Information: 
 
Conroy Diamonds and Gold Plc 
Professor Richard Conroy, Chairman                   Tel: +353-1-661-8958 
 
Merchant Securities Limited (Nomad) 
Simon Clements/Virginia Bull                        Tel: +44-20-7628-2200 
 
IBI Corporate Finance Limited (ESM Adviser) 
John Tuite                                           Tel: +353-1-637-7800 
 
XCAP Securities Plc (Broker) 
John Grant/ Karen Kelly/ David Lawman                Tel: +44-20-7101-7070 
 
Lothbury Financial Services 
Michael Padley/Michael Spriggs                       Tel: +44-20-7868-2567 
 
Hall Communications 
Don Hall                                             Tel: +353-1-660-9377 
 
END
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