Conroy Gld&nres Regulatory News (CGNR)

26 Jan 2010 07:00

26 January 2010 Conroy Diamonds and Gold P.l.c. ("Conroy" or "the Company") Wardrop Engineering Inc Appointed To Carry Out Scoping Study at Clontibret Gold Project * Clontibret is Conroy's Most Advanced Gold Project * Work To Commence On Study Immediately

Conroy Diamonds and Gold Plc (AIM: CDG; IEX: CDGI) is pleased to announce that it has appointed Wardrop Engineering Inc ("Wardrop") to conduct a scoping study at Clontibret, the Company's most advanced gold project. The study, which is to commence immediately, will report using JORC standards and guidelines.

Wardrop is a multi-disciplined engineering and consulting firm that provides innovative solutions for the natural resource management, energy and infrastructure markets globally. Wardrop has been working in the global mining industry since the early 1960s and is in the forefront of gold mining expertise. Wardrop is a subsidiary of Tetra Tech , a leading provider of consulting, engineering, programme management, construction and technical services. The combined companies have more than 10,000 employees worldwide and capabilities that span the entire project lifecycle.

The Company's Clontibret project currently comprises an indicated resource of 11 million tonnes grading 1.24 g/t gold for 440,000 ounces (oz) contained, and an inferred resource of 14 million tonnes at a grade of 1.32 g/t for 590,000oz contained, bringing the total resource to over one million oz. This resource is taken from the JORC standard report received by the Company in June 2008 using a reporting cut-off of 0.75 g/t gold. The current resource is derived from results from 20 per cent of the Clontibret area.

The scope of work by Wardrop will include the following areas - Geology, including Regional Geology, Resource Review, Deposit Types and Mineralisation; Mine Plan and Production, Metallurgy and Plant Design, Infrastructure/Utilities and Ancillary Facilities, Mine Water and Waste Management, Capital and Operating Costs Estimates and Financial Analysis.

The scoping study will primarily be related to Clontibret. However, in view of the Company's other gold discoveries in the area including Clay Lake, (Co. Armagh, 3½ miles North-East of Clontibret), and Glenish (Co. Monaghan, 3½ miles South-West of Clontibret), the study will take place against the background of these and other closely related discoveries and their possible implications in relation to overall development at Clontibret.

Chairman, Professor Richard Conroy said today:

"The appointment of Wardrop to carry out the scoping study at Clontibret is the all-important first stage in determining if the current one million ounce gold resource can support a profitable mining operation. It is anticipated that the study will also consider the possible implications of our other nearby discoveries, including Clay Lake where we recently announced encouraging initial drilling results"

The technical content of 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.

Conroy Diamonds and Gold Plc Professor Richard Conroy, Chairman +353 1 661 8958 Merchant John East Securities Limited (Nomad) Simon Clements/Virginia Bull +44 20 7628 2200 IBI Corporate Finance Limited (IEX Adviser) John Tuite +353 1 637 7800 City Capital Corporation Limited (Broker) Charles Dampney +44 20 3178 3399 Lothbury Financial Ron Marshman/Michael Padley +44 20 7011 9411 Hall Communications Don Hall +353 1 660 9377

Further details on Conroy Diamonds and Gold can be found on its website at: www.conroydiamondsandgold.com