Possitive Results on Clay Lake Drilling

31 March 2011

                                                                               
                     Conroy Gold and Natural Resources plc                     

                          ("Conroy" or "the Company")                          

                    Positive Results on Clay Lake Drilling                     

Conroy (AIM: CGNR; ESM: CGNR.I), the Irish based resource company exploring and
developing gold and other natural resource projects in Ireland, is pleased to
announce that it has received further results from itsstep out drilling
programme in the north corner of its Clay Lake gold target in Co. Armagh.

  * Three further holes intercept gold mineralisation including
   
  * 11.5 metres of 1.44 g/t gold
   
  * 53 metres of stockwork at 0.60 g/t gold including 10.25 metres at 1.37 g/t
    gold
   
The Clay Lake anomaly covers an area of approximately 141 hectares ("ha") and
has returned the highest gold-in-soil values recorded by the Company on its
Irish exploration licences. The step out drilling programme builds on previous
positive gold results which demonstrated the presence of a broad zone of gold
mineralisation.

The first drill hole was a near vertical hole designed to intersect the broad
zone of stockwork (63 metres of 0.62 g/t gold) that had been intersected by an
angled hole in January 2010. This hole was 158.8 metres in length and
intersected four zones of mineralisation including the stockwork zone. The four
intersections were 11.5 metres of 1.44 g/t gold from 26.65 metres of lode zone
ore. This was followed by 53 metres of 0.60g/t gold and minor silver from 50.5
metres of stockwork zone ore followed by a 3 metres intersection of 0.88g/t
gold from 103.5 metres of lode zone ore, followed by a 1.5 metres intersection
of 1.11g/t gold from 114 metres of lode zone ore. A total intersection in the
hole of 98.6 metres of 0.57 g/t gold from 26.4 metres was encountered.

Arenites and argillites (shales) were the main lithologies in this hole.

Drill Hole     From (m)   Intercept (m)  Au (g/t) 
                                                  
Intersection:  26.65      11.5           1.44     
                                                  
incl.          26.65      4              1.85     
                                                  
incl.          32.65      5.5            1.62     
                                                  
Intersection:  50.5       53             0.60     
                                                  
incl.          53.75      10.25          1.37     
                                                  
incl.          99.25      4.25           1.08     
                                                  
Intersection:  103.5      3              0.88     
                                                  
Intersection:  114        1.5            1.11     

The second drill hole was an angled hole to test the continuity of the lode
zones that had been intersected by an angled hole in January 2010. This hole
was 156 metres in length and intersected two zones of mineralisation.

The two intersections were 6 metres of 1.03 g/t gold from 14 metres followed by
2.95 metres of 2.75 g/t gold from 38.05 metres.

Drill Hole     From (m)   Intercept (m)  Au (g/t) 
                                                  
Intersection:  14         6              1.03     
                                                  
Intersection:  38.05      2.95           2.75     

The third drill hole was an angled hole to test the North-Eastern corner of its
Clay Lake gold target. This hole was 175.2 metres in length and intersected a
series of small zones of mineralisation.

Drill Hole     From (m)   Intercept (m)  Au (g/t) 
                                                  
Intersection:  10         2              0.63     
                                                  
Intersection:  45         2              0.58     
                                                  
Intersection:  65         2              0.93     
                                                  
Intersection:  127        1              1.14     
                                                  
Intersection:  135        1              1.17     

The Clay Lake anomaly is larger than that at Clontibret (125ha), 7km to the
South-West, where a scoping study by Wardrop Engineering Inc. has recently
reported on only 20 per cent. of the target. Both targets are located along the
50km (30 mile) gold trend outlined on the Company's licences.

Commenting, Chairman, Professor Richard Conroy said:

"I am very pleased with the results which further confirm the potential of the
Clay Lake target. Overall, we have five large targets along a 50km gold trend
with positive results on both technical and financial grounds from scoping
studies carried out on 20 per cent. of the Clontibret target where infill
drilling is now in progress."

This release has been approved by Kevin McNulty PGeo, who is a member of the
Company's technical staff, who 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.

Further Information:

Conroy Gold and Natural Resources plc                   Tel: [phone]   
                                                                               
Professor Richard Conroy, Chairman                                             
                                                                               
Merchant Securities Limited (Nomad)                     Tel: [phone]  
                                                                               
Simon Clements/Virginia Bull,                                                  
                                                                               
XCAP Securities PLC (Broker)                            Tel: [phone]  
                                                                               
John Grant/ Karen Kelly/ David Lawman                                          
                                                                               
IBI Corporate Finance Limited (ESM Adviser)             Tel [phone]    
                                                                               
Brian Farrell                                                                  
                                                                               
Lothbury Financial Services                             Tel: [phone]  
                                                                               
Michael Padley/Michael Spriggs                                                 
                                                                               
Hall Communications                                     Tel: [phone]   
                                                                               
Don Hall                                                                       

Visit the website at: www.conroygoldandnaturalresources.com