Conroy Gld&nres Regulatory News (CGNR)

28 Sep 2005 06:00

To be embargoed until 7.00am 28 September, 2005 Conroy Diamonds and Gold plc ("Conroy") CONROY IDENTIFIES NEW GOLD MINERALISED STRUCTURE IN FOLLOW-UP SAMPLING OF PREVIOUSLY ANNOUNCED TARGET AREAS * 250m Mineralised Linear Feature Remains Open In Both Directions * Similar Orientation To Structures Found Elsewhere In Armagh-Monaghan Gold Belt * Systematic Follow-Up Continues On Remaining Targets AIM-quoted Conroy Diamonds and Gold Plc is pleased to announce the discovery ofan extensive new gold-bearing structure to the east of Tullybuck-Lisglassan, CoMonaghan, as a result of closely-spaced deep overburden sampling, mostly tobedrock surface, on some of the ten new targets announced in April.One of the two targets sampled to date returned negative results but those fromthe second were much more interesting and encouraging. Anomalous gold valueswere encountered over a wide area within this second target, a shallowgold-in-soil anomaly measuring 540m by 250m, leading to the delineation of anew mineralised linear feature extending 250m along strike and open in bothdirections.Conroy plans to follow up this latest discovery with a programme of trenchingto test the extent of gold mineralisation within the area and define drilltargets.The new mineralised feature is located immediately north of the Orlock BridgeFault, approximately 850m east of Tullybuck-Lisglassan. The northwest-southeastorientation of the mineralisation is similar to that seen in theTullybuck-Lisglassan deposit and at other localities within the Armagh-MonaghanGold Belt.The ten targets are situated in a 20km2 section of the Gold Belt which includesthe company's Tullybuck-Lisglassan and Glenish gold discoveries and wereoriginally defined by regional shallow soil geochemistry. Conroy is continuingwith its programme of deep overburden and bedrock chip sampling tosystematically evaluate the remainder of these targets.All the targets lie within one of the three areas identified by SRK Consultingin its review of Conroy's gold properties as being "highly prospective". Theseareas were highlighted because they relate to intersections of majordeep-seated lineaments and the Orlock Bridge Fault. Such lineaments areparticularly important because economic gold deposits elsewhere in the worldfrequently occur on or close to such structures.Further Information:Professor Richard Conroy, Chairman Conroy Diamonds and Gold Plc.Tel: 00-353-1-661-8958Charles Dampney, City Capital Securities Ltd.Tel: 020-7822-7107Ron Marshman/John Greenhalgh, City of London PR Limited.Tel: 020-7628-5518Visit website at: www.conroydiamondsandgold.comENDCONROY DIAMONDS & GOLD PLC