Conroy Gold & Natural Resources Plc - New Gold Target and Second Gold Trend Identified

3 March 2023

Conroy Gold and Natural Resources plc

(“Conroy Gold” or “the Company”)

NEW GOLD TARGET AND SECOND GOLD TREND IDENTIFIED IN LONGFORD-DOWN MASSIF

• New gold target discovered in Co. Monaghan

• Second gold trend lies parallel and to the south of the Orlock Bridge Fault Zone gold trend

• New trend covers the new gold target and the recent high grade gold discovery in Co. Armagh

• Five further prospecting licences applied for along the new gold trend

Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development company focused on Ireland and Finland, is pleased to announce the discovery of a new gold target in County Monaghan.  This discovery, together with the recent discovery of a gold target in County Armagh (announced by the Company on 22 February 2023), has led to the identification of a second gold trend in the Longford-Down Massif.

Assay results from gold-in-soil sampling by the Company, on Prospecting Licence 4554 in County Monaghan, have yielded values greater than 10ppb Au over an area of 1.5KM by 1.1KM. Anomalies greater than 10ppb gold-in-soil in the Longford-Down Massif tend to be associated with gold-in-bedrock. This licence area also previously yielded sediment samples, which returned gold values of up to 170ppb Au, as part of the nationwide TELLUS survey.

The new gold discovery in County Monaghan, and the recently announced gold discovery in quartz breccia samples (which had assay results of up to 123.0 g/t gold) in County Armagh, have both been recorded along a major geological structure, the Skullmartin Fault Zone, indicating the presence of a second gold trend in the Longford-Down Massif. 

The newly identified (24km) gold trend lies parallel to, and south of, the Orlock Bridge Fault Zone, on which  the Company has made a series of gold discoveries along a 65 km gold trend.

The new trend, along the Skullmartin Fault Zone, links the County Monaghan gold discovery, as announced today, to the recent gold discovery in quartz breccia samples in County Armagh.

The Company also announces that applications for five further prospecting licences along the trend have been made by the Company.

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: 

“The identification of a new gold trend in the Longford – Down Massif is a further step forward in relation to the very extensive new gold district discovered by the Company.”

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Visit the website at: www.conroygold.com