Results of ongoing drilling at Clay Lake

11 October 2010

                         Conroy Diamonds and Gold Plc                          

                          ("Conroy" or "the Company")                          

SUCCESSFUL RESULT FROM HOLES ON STEP OUT

DRILLING PROGRAMME AT CLAY LAKE GOLD TARGET

  * Step out drill programme continues to give positive results - 13 zones of
    mineralisation intersected
   
  * 14 metres of 0.72 grammes per tonne ("g/t") gold, including 2 metres of
    1.72g/t gold
   
  * Also intersections of 2 metres of 1.78g/t gold, 2 metres of 1.27g/t gold
    2.4 metres of 0.92g/t gold, 3 metres of 0.82g/t gold and 3 metres 1.29g/t
    gold
   
Conroy (AIM: CDG; ESM: CDGI) is pleased to announce that the ongoing step out
drilling programme, in the north-western corner of its Clay Lake gold target in
Co. Armagh, has returned positive results with 13 zones of mineralisation
intersected. The step out programme of inclined holes follows on from previous
positive gold results which demonstrated the presence of a broad zone of gold
mineralisation.

The first drill hole was 233 metres in length to a vertical depth of
approximately 165 metres, which intersected 2.4 metres of 0.92g/t gold from 2.6
metres. This was followed by 2 metres of 1.78g/t gold from 26 metres followed
by a 3 metres intersection of 0.82g/t gold from 113 metres, and a 2 metre
intersection of 1.27g/t gold from 167 metres.

The second drill hole was 161 metres in length to a vertical depth of
approximately 114 metres, and it intersected 14 metres of 0.72g/t gold from 125
metres including 3 metres from 128 metres which averaged 1.72g/t gold. This was
followed by 3 metres of 0.61g/t gold from 146 metres.

The third drill hole, 161.35 metres in length to a vertical depth of
approximately 114 metres, intersected 2 metres of 0.58g/t gold from 30 metres.
This was followed by 1 metre of 1.22g/t gold from 36 metres followed by a 7
metres intersection of 0.35g/t gold and 4.6g/t silver from 87 metres, and 11
metres intersection of 0.43g/t gold and 3.2g/t silver from 145 metres including
3 metres of 0.82g/t gold and 5.7g/t silver.

The fourth drill hole, which was 157 metres in length to a vertical depth of
approximately 120 metres, intersected 7 metres of 0.95g/t gold from 69 metres
including 3 metres of 1.29g/t gold from 83 metres. This was followed by 1 metre
of 1.33g/t gold from 83 metres followed by a 1 metre intersection of 1.80g/t
gold from 112 metres.

 Drill Hole    From (m)   Intercept (m)  Au (g/t)    Ag (g/t)  
                                                               
Intersection:     2.6          2.4         0.92          -     
                                                               
Intersection:     26            2          1.78          -     
                                                               
Intersection:     113           3          0.82          -     
                                                               
Intersection:     167           2          1.27          -     
                                                               
 Drill Hole    From (m)   Intercept (m)  Au (g/t)    Ag (g/t)  
                                                               
Intersection:     125          14          0.72          -     
                                                               
    incl.         128           2          1.72          -     
                                                               
Intersection:     146           3          0.61          -     
                                                               
 Drill Hole    From (m)   Intercept (m)  Au (g/t)    Ag (g/t)  
                                                               
Intersection:     30            2          0.58          -     
                                                               
Intersection:     36            1          1.22          -     
                                                               
Intersection:     87            7          0.35         4.6    
                                                               
Intersection:     145          11          0.43         3.2    
                                                               
    incl.         149           3          0.82         5.7    
                                                               
 Drill Hole    From (m)   Intercept (m)  Au (g/t)    Ag (g/t)  
                                                               
Intersection:     69            7          0.95          -     
                                                               
    incl.         73            3          1.29          -     
                                                               
Intersection:     83            1          1.33          -     
                                                               
Intersection:     112           1          1.80          -     

Arenites and argillites (shales) were the main lithologies in these holes.

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.

Commenting, Chairman, Professor Richard Conroy said:

"This is good news indeed, every one of the 7 holes that have been drilled so
far, all in the top corner of the soil anomaly, have got gold mineralisation
present. We believe that this confirms our view that Clay Lake is even more
prospective than Clontibret where we have a 1 million oz resource identified
already."

Further Information:

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

Editors' Note

The Clay Lake anomaly covers an area of about 141 hectares ("ha") and has
returned the highest gold-in-soil values ever recorded by the Company on its
Irish exploration licences. It is larger than that at Clontibret (125ha), 7km
to the south-west where the Company has established a JORC-compliant gold
resource of over 1 million ounces on only 20 per cent. of the target. Both
targets are located along the 50km (30 mile) gold trend outlined on its
licences.

Visit the website at: www.conroydiamondsandgold.com