Conroy Gold & Natural Resources Plc - Gold values returned from Slieve Glah

23 March 2023

Conroy Gold and Natural Resources plc

(“Conroy Gold” or “the Company”)

HIGH GOLD VALUES RETURNED FROM DEEP OVERBURDEN SAMPLING PROGRAMME ON SLIEVE GLAH GOLD TARGET

• Values up to 3,460 ppb Au (3.46 g/t Au) in Drumavaddy sample

• Values up to 1,425 ppb Au (1.425 g/t Au) in Corraweelis sample

• Leiter grid returns results of 44,500 ppm Zinc (4.45% Zn)

Conroy Gold and Natural Resources PLC (AIM: CGNR), the gold exploration and development company focused on Ireland and Finland, is pleased to announce assay results from an extensive deep overburden geochemical sampling programme in the Company’s Slieve Glah Gold Target. The results included values up to 3,460 ppb Au (3.46 g/t Au) and 1,425 ppb Au (1.425 g/t Au).  High zinc values were returned in one area. The programme was carried out in association with the Company’s joint venture partner, Demir Export A.? (“Demir Export”).

A total of 1,434 samples were collected over 15 separate areas within the overall Slieve Glah Gold Target area. 431 samples returned results greater than, or equal to, 10 ppb Au (samples of 10 ppb or higher tend to be associated with the presence of underlying bedrock gold). 23 samples returned results greater than, or equal to, 100 ppb Au.  The maximum value returned was 3,460 ppb Au (3.46 g/t Au). This result was observed in a sample taken in the Drumavaddy area. Other very high values, 1,425 ppb Au (1.425 g/t Au) and 1,160 ppb Au (1.16 g/t Au) were returned in samples taken in the Corraweelis area.

In the Drumavaddy target area, where 372 deep overburden geochemical samples were collected, 115 samples recorded assay results above 10ppb Au, with 10 samples returning assay results greater than 100 ppb Au, with a maximum value of 3,460 ppb Au (3.46 g/t Au). A highly anomalous target area, measuring 300 metres by 150 metres, was defined by the deep overburden sampling programme. Follow up trenching and drilling has been incorporated into our ongoing programme.

In the Corraweelis target area, where 81 samples were collected, 28 samples recorded assay results  above 10ppb Au, with 14 samples returning  assay results greater than 100 ppb Au. Two samples of 1,160 ppb Au (1.16 g/t Au) and 1,425 ppb Au (1.425 g/t Au), respectively, were recorded. Follow up trenching and drilling is planned.

A number of other areas also returned high gold assay results and further follow up work is planned on these areas.

In one area, Leiter, very high zinc values were returned of 44,500 ppm (4.45% Zn), 16,300 ppm (1.63% Zn) and 8,550 ppm (0.85% Zn). The Largari target returned high lead values of 1,045 ppm Pb.

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 deep overburden sampling programme has proven its value, yielding results which pinpoint additional gold targets for follow up trenching and drilling.  The district scale gold area already has a number of gold targets, many of them with gold proven in bedrock but clearly there are many more gold targets still to be identified.  There is also potential for base metals. However, the main emphasis at this stage will continue to be the development of the first gold mine in the district.”

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Visit the website at: www.conroygold.com