Re Irish Gold Project

Conroy Diamonds & Gold PLC
26 February 2004


                          CONROY DIAMONDS AND GOLD PLC

SRK APPOINTMENT MOVES CONTROY'S IRISH GOLD PROJECT INTO NEW PHASE OF EVALUATION

•  Report from SRK will include first mineral resource estimate

•  Over 9000m of drilling included in Conroy's comprehensive database

•  Recent results provide more evidence of gold potential

The recent appointment of SRK Consulting (UK) to prepare the first mineral
resource estimate of Conroy Diamonds and Gold Plc's Irish gold properties marks
the project's transition from pure exploration to assessment and evaluation.
This transition is a major step forward by Conroy towards meeting its objective
of establishing economic gold deposits on its Irish licences.

In the interim report for the six months ended November 30, 2003, Chairman
Professor Richard Conroy says the funds raised last September (£1.25m) had
enabled the company to bring the project to this next, vital stage of
assessment.

The SRK mineral resource estimate will form an integral part of an exploration
status report on Conroy's 1500km2 holdings in Ireland's Longford-Down Massif. In
preparing its report, SRK will have access to an extensive database. This has
been generated by Conroy from its comprehensive exploration of the area on
which, including work by previous operators, over 9,000m of drilling has now
been completed. The large amount of historical information from previous
operators has been incorporated into the company's database.

During 2003, ongoing exploration by the company within the Massif resulted in
two significant gold discoveries at Corkaskea and Ballygreany. Both are located
within 1.5km of Tullybuck-Lisglassan, the company's original discovery in the
area. In addition, drilling at the company's Cargalisgorran gold deposit doubled
the vertical depth of known mineralisation from 50m to approximately 100m.

In Finland, Conroy's search for diamonds continues to progress, with till
sampling recovering further large numbers of kimberlitic and diamond indicator
minerals.

The company at half-year end to November 30, 2003 had cash resources of €1.35m.

Further information:
Professor Richard Conroy, Chairman, Conroy Diamonds and Gold Plc, 
Tel: [phone]
Ron Marshaman/John Greenhalgh, City of London PR Ltd, Tel: [phone]
Visit website at: www.conroydiamondsandgold.com



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