Conroy Gold & Natural Resources Plc - Drill Results from Clay Lake Gold Target

22 November 2023

Conroy Gold and Natural Resources plc

("Conroy Gold" or "the Company")

FURTHER DRILL RESULTS FROM THE DERRYHENNET SECTION OF THE CLAY LAKE GOLD TARGET 

• 41.5 metre gold zone at 0.5 g/t gold intersected with grades up to 3.1 g/t gold recorded

• Continuity of gold stockwork zone demonstrated to the Northeast

• Gold stockwork zone remains open to the Northeast and Southwest

Conroy Gold and Natural Resources PLC (AIM: CGNR) is pleased to announce assay results from a further three drillholes in the Derryhennet section of the Clay Lake gold target in the Longford - Down Massif. The results included a 41.5 metre gold zone at 0.5 g/t gold with grades up to 3.1 g/t gold. The drillholes reported are part of a step out drilling programme on the Company's C1/19 Mines Royal option in County Armagh, Northern Ireland. The drilling programme is being carried out in conjunction with the Company's Joint Venture partner, Demir Export A.Ş ("Demir Export").

The Clay Lake gold target is situated in the north eastern section of the 65Km, district scale Orlock Bridge gold trend, which the Company has discovered. It extends for over 3Km in length and is, in places, 2Km in width and has a gold-in-soil footprint covering over 220 hectares which is the largest gold-in-soil target identified to date in the Longford-Down Massif.

The Clay Lake gold target is divided into five sub areas or sections; Camagh, Cargalisgorran, Derryhennet, Listarkelt and Tivnacree. (The Derryhennet section is approximately 1.2Km in length and 2Km in width and covers over 100 hectares).

Previous drilling, by the Company, in the Derryhennet sub area has yielded outstanding results. These included what is believed to be the longest continuous gold-in-bedrock intersection in the British Isles - 100m @ 0.6 g/t Au. This intersection included 11.5m @ 1.5 g/t Au and 10.3m @ 1.4 g/t Au. Other drilling results at Derryhennet have included 63m @ 0.6 g/t Au (including 9.0m @ 1.5 g/t Au), and 52.5m @ 0.5 g/t Au.

The current step out drilling programme comprises of eight drillholes (c.2,000m). One drillhole in the programme which included 40.5m @ 1.2 g/t Au has already been reported (as announced 6 March 2023).

The assay results now reported include a 41.5 metre gold zone grading 0.5 g/t gold intersected in one drillhole with grades going up to 3.1 g/t gold and have also demonstrated continuity of the gold stockwork zone to the Northeast.

The gold stockwork zone remains open to the Northeast and Southwest.

Intercepts from these further three drillholes include:

CGA-22-002

• 41.5m @ 0.5 g/t Au inc. 0.5m @ 3.1 g/t Au from 21.0m
• 1.0m @ 1.0 g/t Au from 78.0m
• 1.0m @ 0.5 g/t Au from 141.0m
• 2.0m @ 0.7 g/t Au from 162.0m
• 1.0m @ 0.5 g/t Au from 157.0m
• 8.0m @ 0.6 g/t Au from 280.0m

CGA-22-006 / CGA-22-006A

• 2.0m @ 0.7 g/t Au from 27.0m
• 1.0m @ 0.5 g/t Au from 53.0m
• 18.0m @ 0.4 g/t Au from 65.0m
• 2.5m @ 0.5 g/t Au from 114.0m
• 1.5m @ 0.5 g/t Au from 169.0m
• 0.5m @ 0.7 g/t Au from 204.5m
• 1.0m @ 0.4 g/t Au from 220.0m
• 0.5m @ 1.3 g/t Au from 280.0m
• 1.0m @ 0.3 g/t Au from 314.0m

CGA-22-007

• 2.0m @ 0.6 g/t Au from 5.0m
• 2.5m @ 0.4 g/t Au from 37.0m
• 1.0m @ 0.6 g/t Au from 42.5m
• 6.2m @ 0.6 g/t Au from 92.5m
• 1.0m @ 0.7 g/t Au from 106.0m
• 1.0m @ 0.3 g/t Au from 133.0m
• 1.0m @ 0.5 g/t Au from 159.0m
• 8.0m @ 0.7 g/t Au from 216.5m
• 0.5m @ 0.7 g/t Au from 230.0m

(Only intercepts of 0.3 g/t or greater are presented)

All samples were analysed by ALS (OMAC Laboratories) Loughrea using Au-ICP21 (Au by fire assay and ICP-AES 30g sample).

The eight drillhole step out programme is ongoing with four drillholes remaining to be completed and assayed.

Overall the drilling results on the Derryhennet sub area of the Clay Lake gold target indicate potential for high tonnage and gold content.

Further results will be reported in due course.

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 step out drilling programme on the Derryhennet section of the Clay Lake gold target is highly encouraging with additional wide zones of gold mineralisation intersected further indicating the overall gold potential of the Clay Lake gold target".

For further information please contact:

Visit the website at: www.conroygold.com