Conroy Diamonds and Gold plcCDG

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Description:

Gold Exploration Target in Eire and Northern Ireland

Comment

Conroy Diamonds and Gold's licence area extends for c.1000km2 (400 square miles) from County Armagh in Northern Ireland across Counties Monaghan and Cavan in the Republic of Ireland. Field and core facilities are located in Clontibret, County Monaghan.

Mining in Ireland

• Ireland has an established mining tradition, favorable business climate, excellent infrastructure
• Pro-active government commitment to exploration and mining in both the Republic and Northern Ireland
• Straightforward planning and mining licence regulations and clear cut environmental guidelines
• Ireland already is a major base metal producer (ranking as the 7th largest producer of zinc concentrates and 12th largest producer of lead concentrates in the world)
• Other mines include gypsum and salt mines and there is active gold mining in Northern Ireland in County Tyrone

Details on the Target areas

1. Clontibret: JORC Resource on 20% of Target to date
   Indicated : Resource Tonnes (Mt) 11	Inferred : Resource Tonnes (Mt) 14
   Grade g/t @ 0.75g/t cut-off 1.24	Grade g/t @ 0.75g/t cut-off 1.32
   Resource Ounces Gold 440,000	Resource Ounces Gold 590,000
   Total Resource Ounces Gold	1,030,000

2. Clay Lake Anomaly measures 2km by 1km (141ha/350 acres) - larger than Clontibret (125ha/310 acres); Best gold-in-soil values encountered to date, double those recorded at Clontibret; Follow-up work confirmed gold is present in the bedrock "This could be the Jewel in the Crown for the Company" Professor Richard Conroy, Chairman, February 2009 In September 2009, the Company announced an enhanced understanding of the Clay Lake Gold target following rock chip sampling returns and an indication of a far broader zone of faulting.
3. Glenish An extensive gold geochemical anomaly larger than that at the Clontibret target has been discovered, with the presence of gold verified in the bedrock
4. Slieve Glah Sampling in this area has revealed an extensive gold-in-soil anomaly
5. Central Structural Zone In Co. Cavan, 28km (17½ miles) SW of Clontibret: Airborne geophysical surveys flown by the Company, combined with study of Landsat Enhanced Thematic Mapping and Shuttle Digital Terrain Modelling data have led to the identification of this complex structural zone with huge mineral potential

Clontibret - Delineation to Development

Priorities :

• Scoping and Feasibility studies: To advance the delineation process with a view to increasing both the total resource estimate and the proportion in the Indicated and/or Measured categories.
• Preliminary in-house technical and economic studies suggest that the Clontibret resource has the potential to be an economically viable mining project.
• The Company estimate it will take 20 months to finalise a feasibility study