Drilling Report

To be embargoed until 7.00am

                                                             28 September, 2005

                    Conroy Diamonds and Gold plc ('Conroy')                    

               CONROY IDENTIFIES NEW GOLD MINERALISED STRUCTURE                

                           IN FOLLOW-UP SAMPLING OF                            

                       PREVIOUSLY ANNOUNCED TARGET AREAS                       

  * 250m Mineralised Linear Feature Remains Open In Both Directions
   
  * Similar Orientation To Structures Found Elsewhere In Armagh-Monaghan Gold
    Belt
   
  * Systematic Follow-Up Continues On Remaining Targets
   
AIM-quoted Conroy Diamonds and Gold Plc is pleased to announce the discovery of
an extensive new gold-bearing structure to the east of Tullybuck-Lisglassan, Co
Monaghan, as a result of closely-spaced deep overburden sampling, mostly to
bedrock surface, on some of the ten new targets announced in April.

One of the two targets sampled to date returned negative results but those from
the second were much more interesting and encouraging. Anomalous gold values
were encountered over a wide area within this second target, a shallow
gold-in-soil anomaly measuring 540m by 250m, leading to the delineation of a
new mineralised linear feature extending 250m along strike and open in both
directions.

Conroy plans to follow up this latest discovery with a programme of trenching
to test the extent of gold mineralisation within the area and define drill
targets.

The new mineralised feature is located immediately north of the Orlock Bridge
Fault, approximately 850m east of Tullybuck-Lisglassan. The northwest-southeast
orientation of the mineralisation is similar to that seen in the
Tullybuck-Lisglassan deposit and at other localities within the Armagh-Monaghan
Gold Belt.

The ten targets are situated in a 20km2 section of the Gold Belt which includes
the company's Tullybuck-Lisglassan and Glenish gold discoveries and were
originally defined by regional shallow soil geochemistry. Conroy is continuing
with its programme of deep overburden and bedrock chip sampling to
systematically evaluate the remainder of these targets.

All the targets lie within one of the three areas identified by SRK Consulting
in its review of Conroy's gold properties as being 'highly prospective'. These
areas were highlighted because they relate to intersections of major
deep-seated lineaments and the Orlock Bridge Fault. Such lineaments are
particularly important because economic gold deposits elsewhere in the world
frequently occur on or close to such structures.

Further Information:

Professor Richard Conroy, Chairman Conroy Diamonds and Gold Plc.

Tel: [phone]

Charles Dampney, City Capital Securities Ltd.

Tel: [phone]

Ron Marshman/John Greenhalgh, City of London PR Limited.

Tel: [phone]

Visit website at: www.conroydiamondsandgold.com