6 July 2026
[2011 Jan 28 CGNR Logo]
Conroy Gold and Natural Resources plc
("Conroy Gold" or "the Company")
OPERATIONAL AND CORPORATE UPDATE
Progress with Drilling Programme and TSX-V listing
· Phase I drilling programme at Clontibret successfully undertaken, with
five holes completed and a series of strongly encouraging assay results
announced
· Results indicate continuity both along strike and at depth, the
identification of a significant Buddingtonite alteration zone, and increasing
confidence in continuity between Clontibret and the Corcaskea target
· Assay results are awaited from follow-on deep hole CGC-25-007, drilled
to target the stockwork zone informed by CGC-25-001 (deepest gold mineralisation
intersected to date)
· Phase II of work has commenced, with drilling underway to test the
extension of the Orlock Bridge Fault from the mineralisation in the Clay Lake
target southwestwards towards the Clontibret deposit
· The Company is continuing to advance plans for a dual listing on the
TSX-Venture Exchange
Conroy Gold and Natural Resources plc (AIM: CGNR) is pleased to provide the
following operational and corporate update on its "Discs of Gold" project in
Ireland, anchored by the Clontibret gold deposit.
Operational Update
The Company is pleased to report the successful completion of its Phase I
drilling programme at Clontibret which included the first steps towards
understanding mineralisation at depth together with enhancing understanding of
the Central zone lodes associated with the historic Tullybuck antimony mine and
testing the continuity of the mineralising system towards the Corcaskea target.
The programme, carried out with three drill rigs, has enhanced the Company's
geological understanding of the Clontibret system and reinforced its
interpretation of a large, structurally controlled gold system that remains open
in all directions.
The first hole of the programme, CGC-25-001, announced by the Company on 2 March
2026, intersected the deepest gold mineralisation recorded at Clontibret to
date. More than ten gold-bearing lodes were intersected with a best intercept of
2.8 metres at 4.5 g/t Au (including 0.5 metres at 15.0 g/t Au). At approximately
410 metres depth a zone of sulphide mineralisation returned 4 metres at 0.5 g/t
Au. The hole stopped in this mineralisation due to technical difficulties. The
hole confirmed the interpreted continuity of mineralisation along strike and to
depth. The mineralising system remains open at depth. These results continue to
support the geological analogies between Clontibret and the high-grade
Fosterville Gold Mine in Victoria, Australia (current endowment in excess of 10
million ounces) and underlines the potential for multi-million-ounce gold
mineralisation at depth.
Drill holes CGC-25-002 and CGC-25-003, announced by the Company on 18 May 2026,
identified a significant, intensely altered zone interpreted to represent
Buddingtonite alteration - a widely recognised pathfinder mineral associated
with hydrothermal gold systems that may act as an important vectoring tool
towards further mineralisation at depth. Both holes also returned highly
encouraging gold mineralisation across multiple zones, including headline
intersections of 1.0 metre at 16.7 g/t Au and 3.5 metres at 4.8 g/t Au
(including 0.5 metres at 11.2 g/t Au), as part of a step-out programme testing
the northern strike extent to depth of the Central zone lodes associated with
the historic Tullybuck antimony mine.
Most recently, on 22 June 2026, the Company announced results from step-out
drillhole CGC-25-005 on the Eastern Zone, which increased confidence in the
continuity of the mineralised system in an area of minimal drilling within the
resource footprint northwards towards the Corcaskea target, where trenching has
returned 16.5 metres at 6.5 g/t Au. Several of the lode zones intersected were
stronger and wider than in the nearest comparable historic drillhole (CL84-1;
located c.150m to the south), providing additional support for the Company's
interpretation of persistent gold-bearing lodes extending northwards, and
demonstrating that the deposit remains open towards the highly prospective
Corcaskea target.
Drillhole CGC-25-007 targeted the stockwork zone at depth directly below the old
Tullybuck antimony mine and was informed by observations from CGC-25-001. CGC-25
-007 was drilled to a down hole depth of 592.1 metres at an angle of -83o for a
true depth of 588m and represents a key step in enhancing the geological
knowledge of the Clontibret gold mineralisation system and assessing the
potential for higher-grade, structurally controlled mineralisation at depth. The
drill core has been logged, split and sampled, with samples dispatched to the
ALS laboratory in Loughrea. The Company looks forward to announcing the assay
results from CGC-25-007 in due course.
[image]
Figure 1. Deeper Drilling at Clontibret
The Company is pleased to report that Phase II of its work programme has
commenced, with drilling underway to test the Orlock Bridge Fault from the Clay
Lake target towards Clontibret. Stockwork intersections of 40.5m @ 1.2 g/t Au
and 100.0m at 0.6 g/t Au have been previously recorded at Clay Lake and
electromagnetic geophysical interpretation shows a structural trend between the
broad gold bearing stockwork zones at Clay Lake target with the stockwork zone
in Clontibret 7km to the southwest where similar intersections have been
recorded. Both targets are open in all directions including at depth.
This phase of work is designed to evaluate the continuity and scale of the
Orlock Bridge Fault and to further establish the trend of the Clay Lake
stockwork in an initial step towards establishing a resource at Clay Lake.
[image]
Figure.2: Planned Phase II Drilling Programme
Further drilling is also planned for Clontibret which will be informed by the
additional understanding of the deposit brought about by recent drilling and the
relogging programme particularly regarding the Buddingtonite alteration zone and
stockwork zones at depth and along strike.
Corporate Update
The Company continues to advance its plans in relation to a proposed dual
listing of its shares on the TSX-Venture Exchange ("TSX-V") in Canada. Following
the constructive engagement with prospective strategic and financial partners,
industry stakeholders and shareholders at the PDAC annual meeting in Toronto
earlier this year, and building on the support received from long-term value
investors in North America in the Company's October 2025 placement, the Board is
progressing its assessment of a dual listing as a means of broadening the
Company's access to North American investors and different pools of capital
outside of the UK.
A TSX-V listing would offer North American investors a path onto the Company's
share register and an ability to transact more easily. The Board's overriding
priority remains to protect and enhance value for the Company's current
shareholders as it works to advance the "Discs of Gold" project towards mine
development. A potential dual listing remains subject to, amongst other things,
satisfaction of the relevant listing requirements, and there can be no guarantee
that a dual listing on the TSX-V will proceed nor as to the timing thereof. The
Company will continue to update shareholders as matters progress. The Company
also remains in ongoing discussions with prospective strategic and financial
investors regarding funding for future phases of work on the "Discs of Gold"
project.
John Sherman, Chairman, commented:
"The successful completion of our Phase I drilling programme marks a significant
milestone for the Company. Across the programme we have intersected the deepest
gold mineralisation to date at Clontibret, identified a substantial
Buddingtonite alteration system that may help vector us towards further
mineralisation, and also demonstrated increasing continuity of the system
northwards towards Corcaskea.
Collectively, these results continue to build our confidence in the scale and
grade potential of the Clontibret gold system. We now look forward to the
results from CGC-25-007, our deep hole designed to test the stockwork zone
directly, following on from the encouraging mineralisation at depth seen in our
first hole. We will update shareholders as the assay results become available."
About the "Discs of Gold" Project
Conroy Gold's "Discs of Gold" project in Ireland is defined by two parallel
district scale gold trends, extending over c.95km, which are 100 per cent. held
under license by the Company and anchored by the Clontibret gold deposit. The
Clontibret target area contains a currently defined JORC (2012) 517Koz gold
resource @ 2.0 g/t Au (320Koz Au Indicated and 197Koz Au Inferred (2017)) which
remains open in multiple directions. The Company has identified a further seven
gold targets in its license area with the Clay Lake and Creenkill gold targets
being of particular interest. Gold occurs in multiple styles in the Company's
license area, including free gold, refractory gold in arsenopyrite and gold
associated with pyrite and antimony (stibnite), suggesting multiple hydrothermal
events occurred within the licence area. There are clear geological analogies
between the "Discs of Gold" targets and large gold deposits in Southeastern
Australia and Atlantic Canada.
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.
For further information please contact:
Conroy Gold and Natural Resources plcTel: +353-1-479-6180
John Sherman, Chairman
Maureen Jones, Managing Director
Allenby Capital Limited (Nomad)Tel: +44-20-3328-5656
Nick Athanas / Nick Harriss
Hybridan LLP (Broker)Tel: +44-20-3764-2341
Claire Louise Noyce
Lothbury Financial ServicesTel: +44-20-3290-0707
Michael Padley
Hall CommunicationsTel: +353-1-660-9377
Don Hall
Visit the website at: www.conroygold.com
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