CGNR Conroy Gold & Natural Resources Plc

13 July 2023

Conroy Gold and Natural Resources plc

("Conroy Gold" or the "Company")

DRILL RESULTS FROM CREENKILL GOLD TARGET IN COUNTY ARMAGH

• First drill results on the recently discovered Creenkill target

• Drilling returns 0.5m at 11.5 g/t Au and 1.2m at 3.8 g/t Au

• Continuity of mineralised structure supported by trenching and drilling

Conroy Gold and Natural Resources PLC (AIM: CGNR) is pleased to announce assay results from six shallow drill holes (totalling c.98m) at the Company's Creenkill gold target in its Mines Royal (Newtownhamilton) option, located in County Armagh, Northern Ireland.  The drilling programme is being carried out in conjunction with the Company's joint venture partner, Demir Export A.Ş ("Demir Export").

The drill programme was designed to confirm the immediate down dip continuity of the gold mineralised structure reported on 5 June 2023.

The mineralised structure was previously trenched over a strike length of approximately 135m and has now been drilled over a strike length of approximately 100m and traced approximately 10m down dip. It remains open along strike and to depth.  Drilling is continuing and further announcements will be made in due course.

Intercepts from the initial six shallow drillholes include:

• 0.50m @ 11.5 g/t Au
• 1.20m @ 3.8 g/t Au (including 0.90m @ 4.7 g/t Au)
• 0.35m at 3.1 g/t Au
• 0.35m @ 2.4 g/t Au 
• 0.25m at 1.4 g/t Au
• 0.50m @ 0.3 g/t Au

(Only intercepts of 0.3 g/t or greater are presented)

This drilling was undertaken on the newly identified Skullmartin Fault gold trend which is separate from and lies 20km to the south of the 65km long Orlock Bridge gold trend which hosts the Clontibret and Clay Lake gold deposits.

All samples were analysed by ALS (OMAC Laboratories) Loughrea using Au-ICP21 (Au by fire assay and ICP-AES 30g sample).

To gain further understanding of the gold deportment, two sample pulps (0.25m at 1.4g/t Au and 0.35m at 3.1g/t Au) underwent additional analysis with assay method Au-SCR24, with the total gold reported being at similar levels of 1.2 g/t and 3.6 g/t Au. There was a significant component in the plus 100 micron fraction of the 3.1 g/t Au pulp sample which assayed 67.5 g/t Au indicating a coarse gold environment.

The drilling results reported in today's announcement form part of an on-going overall technical assessment, incorporating drilling together with extensive soil and deep overburden sampling and geophysics, across both gold trends in the Longford - Down gold district. The primary focus of the joint venture is to develop a mine at Clontibret, or elsewhere along the gold trends, with the long-term objective of the delivery of a series of mine developments across the new gold district.

This release has been approved by Kevin McNulty PGeo, who is a member of the Company's technical staff and 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.

Professor Richard Conroy, Chairman, commented: 

"This new discovery continues to emphasise the prospectivity of the region.  The initial drilling supports what was discovered during the trenching programme and the continuity of the structure provides encouragement that similar bonanza gold grades, discovered during prospecting, can be encountered by future trenching and drilling."

For further information please contact:

Visit the website at: www.conroygold.com