Drilling Results at Clontibret Gold Project

23 March 2012 Conroy Gold and Natural Resources plc ("Conroy" or "the Company") Drilling Results at Clontibret Gold Project * Completion of latest phase of infill drilling * 22.9 metres of 1.59 grammes per tonne (g/t) gold, including 14.55 metres of 2.28 g/t * 2.2 metres of 3.49 g/t gold * 3.4 metres of 2.51 g/t gold, including 1.8 metres of 4.34 g/t * Material for metallurgical studies now available Conroy (AIM: CGNR; ESM: CGNR.I) is pleased to announce further results from its infill drilling programme at its Clontibret gold project in Co. Monaghan, Ireland which completes the latest phase of infill drilling totalling 3,258 metres. This phase of the infill drilling programme concentrated on further defining the resource area within the pit area as proposed in the scoping study by Tetra Tech Wardrop ("Tetra Tech"). Both lode zones and the stockwork zone were identified. The results confirmed good continuity with the known mineralisation in the area. These drill holes and the previous infill drill holes have also provided geotechnical information for mine design purposes together with ore material for metallurgical test work. All the drill holes reported here were angled holes. The results included gold intersections to a down hole depth of 265.5 metres, a vertical depth of approximately 188 metres. One drill hole intersected 2.2 metres of 3.49 g/t gold from 116.1 metres. It also intersected 22.9 metres of 1.59 g/t gold from 232.95 metres including 14.55 metres of 2.28 g/t gold from 235.25 metres (see Table 1 below). Table 1 Drill Hole From (m) Intercept (m) Au (g/t) Intersection 116.1 2.2 3.49 Intersection 232.95 22.9 1.59 incl. 235.25 14.55 2.28 A further drill hole drilled to a down hole depth of 185 metres (approximately 142 metres vertically intersected 3.4 metres of 2.51 g/t from 51.10 metres, including 1.8 metres at 4.34 g/t gold. It also intersected 2.2 metres of 0.95 g /t gold from 76.5 metres and 2.3 metres of 1.23 g/t gold from 91.15 metres and 2.0 metres of 0.73 g/t gold from 116.7 metres (see Table 2). Table 2 Drill Hole From (m) Intercept (m) Au (g/t) Intersection 51.1 3.4 2.51 incl. 51.1 1.8 4.34 Intersection 76.5 2.2 0.95 Intersection 91.15 2.3 1.23 Intersection 116.7 2 0.73 A further drill hole in this series was drilled to a down hole depth of 210 metres (approximately 148 metres vertically). This hole intersected 2.0 metres of 1.9 g/t gold from 85.0 metres, it also intersected 2.0 metres of 1.48 g/t gold from 132.5 metres and 2.0 metres of 0.79 g/t gold from 160.6 metres (see Table 3 below). Table 3 Drill Hole From (m) Intercept (m) Au (g/t) Intersection 85 2 1.9 Intersection 132.5 2 1.48 Intersection 160.6 2 0.79 These results follow on from the Clontibret Gold Project Scoping Study Update by Tetra Tech which showed an increase in the resource to over 600,000 ounces gold prepared according to the Australasian Joint Ore Reserve Committee (JORC) guidelines, a mine life of 11.2 years, a payback period of two years, an internal rate of return of 49.4 per cent. and a net present value, at an 8 per cent. discount, of US $72.3 million at a base case gold price of US $1,372. This area only forms 20 per cent. of the Clontibret target with the remaining 80 per cent. to be fully tested. The Clontibret target is one of five primary targets identified by the Company along a 30 mile (50 Km) gold trend. This release has been approved by Kevin McNulty PGeo, who is a member of the Company's technical staff, who 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. Commenting, Chairman, Professor Richard Conroy said: "I am very pleased with the on-going results of the infill drilling programme. These will allow us to continue our forward progress following the updated scoping study by Tetra Tech with a view to developing an open pit gold mine at Clontibret." Further Information: Conroy Gold and Natural Resources plc Professor Richard Conroy, Chairman Tel: +353-1-661-8958 Merchant Securities Limited (Nomad) Simon Clements/Virginia Bull Tel: +44-20-7628-2200 Shore CapitalStockbrokers Limited(Broker) Jerry Keen/Bidhi Bhoma/Toby Gibbs Tel: +44-20-7408-4090 IBI Corporate Finance Limited (ESM Adviser) Brian Farrell Tel:+353-1-637-7800 Lothbury Financial Services Michael Padley/Michael Spriggs Tel: +44-20-7868-2010 Hall Communications Don Hall Tel: +353-1-660-9377 Visit the website at: www.conroygoldandnaturalresources.com