Consultant Appointment

Conroy Diamonds & Gold PLC
19 February 2004

FEBRUARY 19, 2004

CONROY APPOINTS INDEPENDENT CONSULTANTS TO PREPARE PRELIMINARY RESOURCE ESTIMATE
                               OF IRISH GOLD FIND


Estimate Will Be Part Of Wider Exploration Status Report By SRK Consulting

Also Seeking To Identify Features Controlling Location Of Mineralisation

Independently Derived 3-D Resource Model Will Assist Future Exploration

AIM-listed Conroy Diamonds and Gold Plc today announces the appointment of SRK
Consulting (UK) to prepare a preliminary mineral resources estimate for the
company's gold properties in Ireland. This will form an integral part of an
exploration status report on Conroy's 1500km2 licence area in the Longford-Down
Massif. SRK's resource estimate will place particular emphasis on the
Tullybuck-Lisglassan gold deposit in County Monaghan, Conroy's original
discovery in the area.

To date, Conroy has identified five separate areas of gold mineralisation, all
of which are located within a small section of its licence area extending from
Tullybuck-Lisglassan for a distance of about 6.5km to the north-east. In the
general vicinity of these discoveries the company has also outlined a number of
large, coherent gold-in-soil geochemical anomalies that require further
investigation. These mineralised zones and anomalies occur in an area that
currently measures 20km by 3km and are collectively referred to as the
Armagh-Monaghan Gold Belt.

SRK will also provide an independently derived, three-dimensional (3-D) estimate
of the mineral resources on Conroy's licences. It is anticipated that this 3-D
model will be used to assist and enhance the company's future exploration
activities in the Longford-Down Massif, a major geological feature extending
across the north of Ireland.

The consultants' report will incorporate a regional geological review of
Conroy's wider exploration effort in the Massif. This will focus on identifying
the structural features that influence and control the location of favourable
sites for mineralization.
C
onroy's exploration licences covering 1500km2 of the Massif comprise a
continuous block of ground extending south-west from County Armagh in Northern
Ireland for over 110km to beyond Slieve Glah in County Cavan where Conroy has
also identified gold in preliminary trenching of an extensive geochemical
anomaly. Most of the ground between Tullybuck-Lisglassan and Slieve Glah has yet
to be explored.

Commenting today, Conroy chairman, Professor Richard Conroy said: 'The
appointment of SRK to prepare a preliminary mineral resource represents a
significant step forward for Conroy and marks a new phase in the evaluation of
our Irish gold projects.'

SRK Consulting (UK) is the European-based arm of the independent international
SRK consulting group.

Further info:
Professor Richard Conroy, Chairman, Conroy Diamonds and Gold Plc. Tel:
00-353-1-661-8958
Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: [phone]
Visit website at: www.conroydiamondsandgold.com



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