·              10.15 metres of 4.38 grammes per tonne (g/t) gold, including 2 metres of 11.24 g/t

·              Results derived from first hole in 3,500 metres infill drilling programme

Conroy (AIM: CGNR; ESM: CGNR.I), the Irish based resource company exploring and developing gold and other natural resource projects in Ireland, is pleased to announce that it has received positive results from the first hole completed in its planned 3,500 metres infill drilling programme at its Clontibret gold project where the Company has a Joint Ore Reserves Committee (“JORC”) standard compliant gold resource of over 1 million oz.

The drill hole was an angled hole 188.10 metres in length, to a vertical depth of approximately 133 metres.  The drill hole intersected 1.25 metres of 2.29 g/t gold from 84 metres and 10.15 metres of 4.38 g/t from 132.4 metres including 2 metres at 11.24 g/t and 1.4 metres at 7.92 g/t.

 
  Drill Hole        From (m)   Intercept (m)   Au (g/t)  
  Intersection          84.00           1.25                   2.29  
  Intersection          132.40         10.15                 4.38  
  incl.                     134.50          2.00                  11.24  
  incl.                     141.15          1.40                   7.92 

Arenites and argillites (shales) were the main lithologies encountered in the hole.
 
The infill drilling programme is designed to further define gold zones within the proposed mine area potentially increasing the resource and follows on from the positive results (on both technical and financial grounds) of the scoping study completed by Wardrop Engineering Inc. The drilling programme will also provide information for mine design purposes together with ore material for metallurgical test work.

Commenting, Chairman, Professor Richard Conroy said:

“I am very pleased and impressed with the extent and grades of the intersections in the first drill hole of our infill drilling programme which the Company has commenced following the positive outcome of the scoping studies carried out by Wardrop Engineering.  The programme will allow us to optimise the mine design, which shows us initially producing 24,000 ounces of gold per annum, and to further define the resource.