Interim Results

To be released at 7.00 a.m. on 28 February 2006

                          Conroy Diamonds & Gold plc                           

                                ('the Company')                                

      Unaudited Interim Results for the six months ended 30 November 2005      

CHAIRMAN'S STATEMENT

I have great pleasure in presenting your Company's Interim Report for the six
months ended November 2005.

During the half-year, your Company continued to make excellent progress with
its gold exploration programme in the Longford-Down Massif, in the north of
Ireland. Further positive results have been recorded from your Company's
ongoing programme of closely-spaced deep overburden sampling on the ten
additional gold targets announced last April in a 20km² section of the Armagh
Monaghan Gold Belt which also includes your Company's Tullybuck-Lisglassan and
Glenish gold discoveries. Six of the ten targets, originally defined by shallow
soil geochemistry, have now been sampled in this way, and five have returned
positive results.

These include the discovery of an extensive new gold bearing structure to the
east of Tullybuck-Lisglassan in Co Monaghan. This extends 250 metres along
strike, is open in both directions and is located immediately north of the
Orlock Bridge Fault. The northwest-northeast orientation of the mineralisation
is similar to that seen in the Tullybuck-Lisglassan deposit itself and at other
locations within the Armagh Monaghan Gold Belt.

In addition, two new structures have been identified on Targets 3 and 4,
respectively 2km southwest and 1.5kms southeast of Tullybuck-Lisglassan, whilst
deep overburden testing on Targets 5 and 6 indicates that the two targets
constitute a single anomaly which measures approximately 1 kilometre by 500
metres.

The programme of overburden sampling, mostly to bedrock, has encountered
anomalous gold values over wide areas, with Target 3 returning particularly
high values of up to 10,105 parts per billion (ppb) gold (10.1gt) and Targets
4,5 and 6 returning peak values of 395ppb, 172ppb and 334ppb respectively.
These are very high when viewed against a background of less than 4 ppb and
where 10 ppb gold is considered anomalous. A peak value of 10,105ppb (10.1g/t)
is exceptional in the context of overburden sampling and gives an indication of
the wider potential of the area around Tullybuck-Lisglassan.

All of the targets sampled to date have a spatial relationship with the Orlock
Bridge Fault, which is believed to be a controlling factor on gold
mineralisation with the Company's licences

The targets also lie within one of three areas identified by SRK in its review
of your Company's gold properties as being 'highly prospective' because they
relate to the intersection 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. To-date the Armagh - Monaghan Gold Belt has been outlined over an
area of about 60km². This represents less than 5 per cent. of your Company's
licence area in the Longford - Down Massif.

Since the end of the reporting period, as announced on 16 January, 2006,
Gartmore Investment Management Plc has increased its holding in your Company to
14.26 per cent. of the issued share capital. I welcome their continued support.

FINANCE

In preparing these results the directors have considered the build-up of
current liabilities on the balance sheet. These liabilities arose mainly from
the accrual of unpaid directors' fees and remuneration over a number of years.
By foregoing payment of their fees and remuneration, the directors effectively
allowed the Company's exploration work on the ground to continue, even during
times when capital raisings via the Stock Exchange were extremely difficult.

The directors have waived their entitlement to all amounts accrued up to 31
August 2005. The amount of such accruals at 31 August 2005 was €1,422,782. The
write-off of this liability resulted in an exceptional credit to the profit and
loss account of €607,197 and the balance of €815,585, which related to the
management and supervision of the exploration programme, was credited to
mineral interests in the balance sheet.

The credit to the profit and loss account of €607,197 together with the loss on
ordinary activities for the period of €122,374 resulted in a net increase in
shareholders funds of €484,823.

After careful consideration, and discussions with the Company's advisers, the
Board decided to issue a total of 49,064,190 warrants to the individual
directors for nil consideration exercisable over 10 years at a subscription
price of €0.037 (Stg2.5p) per share. This was ratified by shareholders at the
Annual General Meeting.

Your directors are considering the various options for financing its further
exploration and development programmes. These may include bringing in a joint
venture partner or the raising of further capital.

DIRECTORS AND STAFF

I regret to report with deep sadness the death of Dr Pamela Conroy. Dr Pamela
Conroy was a founding director of the Company. Her dedication, experience,
advice and support, contributed to a major degree to the on-going success of
your Company.

I would like to thank my fellow directors, staff and contractors for their
support and dedication, which has enabled the continued success of the Company.
I look forward to the future with confidence.

Professor Richard Conroy
Chairman
28 February 2006



UNAUDITED PROFIT AND LOSS ACCOUNT
For the six months ended 30 November 2005

                                          Six months   Six months         Year
                                               ended        ended        ended
                                         30 November  30 November       31 May
                                                2005         2004         2005
                                                                              
                                         (Unaudited)  (Unaudited)    (Audited)
                                                                              
                                                   €            €            €
                                                                              
Operating expenses                         (122,485)    (162,203)    (515,205)
                                                                              
Other income                                     111        1,063        1,958
                                                                              
Loss for period                            (122,374)    (161,140)    (513,247)
                                                                              
Exceptional item                             607,197            -            -
                                                                              
Profit/(Loss) after exceptional item         484,823    (161,140)    (513,247)
                                                                              
Profit and loss account at beginning of  (2,272,131)  (1,758,884)  (1,758,884)
period                                                                        
                                                                              
Profit and Loss account at end of        (1,787,308)  (1,920,024)  (2,272,131)
period                                                                        
                                                                              
Loss per share                              (€0.002)     (€0.003)     (€0.008)



UNAUDITED BALANCE SHEET
At 30 November 2005

                                                At 30         At 30       At 31
                                             November      November         May
                                                 2005          2004        2005
                                                                               
                                          (Unaudited)   (Unaudited)   (Audited)
                                                                               
                                                    €             €           €
                                                                               
Fixed Assets                                                                   
                                                                               
Mineral interests                           5,507,278     5,628,260   6,043,726
                                                                               
Tangible assets                                54,271        64,559      53,015
                                                                               
                                            5,561,549     5,692,819   6,096,741
                                                                               
Current Assets                                                                 
                                                                               
Debtors                                        43,521       161,361      39,020
                                                                               
Cash in hand                                    5,100        43,039      62,689
                                                                               
                                               48,621       204,400     101,709
                                                                               
Creditors: amounts failing due within one   (512,934)   (1,292,241) (1,586,037)
year                                                                           
                                                                               
Net Current Liabilities                     (464,313)   (1,087,841) (1,484,328)
                                                                               
Net Assets                                  5,097,236     4,604,978   4,612,413
                                                                               
Capital and Reserves                                                           
                                                                               
Called up share capital                     2,146,320     1,846,320   2,146,320
                                                                               
Capital conversion reserve fund                30,617        30,617      30,617
                                                                               
Share premium account                       4,707,607     4,648,065   4,707,607
                                                                               
Profit and loss account                   (1,787,308)   (1,920,024) (2,272,131)
                                                                               
Shareholders' Funds                         5,097,236     4,604,978   4,612,413



UNAUDITED CASH FLOW STATEMENT
For the six months ended 30 November 2005

                                           Six months    Six months        Year
                                                ended         ended       ended
                                          30 November   30 November      31 May
                                                 2005          2004        2005
                                                                               
                                          (Unaudited)   (Unaudited)   (Audited)
                                                                               
                                                    €             €           €
                                                                               
Net Cash Inflow/(Outflow) from                224,703       (1,446)    (73,638)
Operating Activities                                                           
                                                                               
Capital Expenditure and Financial           (282,292)     (452,381)   (888,353)
Investments                                                                    
                                                                               
Net Cash Outflow before financing            (57,589)     (453,827)   (814,715)
                                                                               
Financing                                           -             -     359,542
                                                                               
Decrease in Cash                             (57,589)     (453,827)   (455,173)

Notes to the Financial Statements

1. Publication of non-statutory accounts

The financial information set out in this document does not comprise the
statutory accounts of the Company.

2. Loss per share

The calculation of the loss per ordinary share of €0.002 (2005 - €0.003) is
based on the loss for the half year of €122,374 (2004 - €161,140) and the
weighted average number of ordinary shares on a basic and fully diluted basis
during the year of 71,544,011 (2004 - 61,544,011). Share options and warrants
are not included in the calculation of fully diluted shares since the Company
incurred a loss in 2005 and 2004 which results in these potential shares being
anti-dilutive.

3. Dividends

No dividends were paid or are proposed in respect of the period ended 30
November, 2005.

4. A copy of the Interim Report will be sent to all shareholders shortly and
will be available from the Company's registered office, 10 Upper Pembroke
Street, Dublin 2.