Drilling Report

DECEMBER 8, 2005

            Conroy Diamond and Gold Plc ('Conroy' or 'the Company')            

                      CONROY'S ONGOING SAMPLING PROGRAMME                      

                    YIELDS TWO NEW GOLD-BEARING STRUCTURES                     

                         SOUTH OF TULLYBUCK-LISGLASSAN                         

  * Gold Values Of Up To 10g/t Returned From Deep Overburden Sampling
   
  * Three New Mineralised Structures Now Found In Area Pinpointed By SRK Review
   
  * Systematic Evaluation Continues Of Remaining Targets
   
Conroy Diamonds and Gold Plc is pleased to announce that the company has
discovered two further gold-bearing structures, one of which returned a value
of 10 gram/tonne ('g/t') gold, on its Longford-Down Massif licences.

The new finds resulted from the company's ongoing programme of systematic
closely-spaced overburden sampling over the ten targets identified on these
licences and first announced in April this year.

The two new structures have been identified on Targets 3&4, respectively 2km
south-west and 1.5km south-east of Tullybuck-Lisglassan in County Monaghan.
They complement the company's earlier discovery, announced in September, of a
250m long mineralised linear feature on Target 2, situated about 1km east of
Tullybuck. All three mineralised features show a special relationship to the
Orlock Bridge Fault, believed to be a controlling factor on gold mineralisation
within the company's licences.

The latest deep overburden sampling, mostly to bedrock, encountered anomalous
gold values over wide areas, with Target 3 returning particularly high values
of up to 10,105 parts per billion ('ppb') gold (10.1g/t) and Target 4 peaking
at 395ppb gold. The Company considers these are very high values when viewed
against a background of less than 4ppb and where 10ppb gold is considered
anomalous. Further results are awaited.

A programme of closer spaced sampling will now be carried out over the two new
structures to test the extent of gold mineralisation within the individual
areas and define drill targets.

Commenting today, Professor Richard Conroy, Chairman, said: 'We are very
pleased that our programme of progressively testing the targets identified
earlier this year continues to yield excellent results. The peak value of over
10g/t gold from Target 3 is exceptional in the context of overburden sampling
and gives an indication of the wider potential of the area around
Tullybuck-Lisglassan as suggested by SRK. Consulting'

The company's April announcement indicated that the ten new targets had
originally been defined by shallow regional soil geochemistry in a 20km2
section of the Armagh-Monaghan Gold Belt which also includes the company's
Tullybuck-Lisglassan and Glenish gold discoveries. Conroy continues its
systematic evaluation of the remainder of these ten targets with a programme of
deep overburden sampling and bedrock chip sampling.

All of 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' 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 Info:

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