Statement re Tivnacree

Conroy Diamonds & Gold PLC
15 August 2005





                                                                 August 15, 2005

                          Conroy Diamonds and Gold Plc

                                   ('Conroy')

Conroy confirms presence of prominent gold-bearing structure at Tivnacree


   • Follow-Up From Earlier Discovery Points To 350m Strike Length
   • Drilling Programme Expected To Commence Later This Month

   • Bed Rock Sampling Underway On New Targets Announced Earlier This Year

AIM-quoted Conroy Diamonds and Gold Plc is pleased to announce that follow-up
work at its Tivnacree gold prospect in County Armagh has confirmed the presence
of a prominent gold-bearing structure which appears to have a strike length of
at least 350m. The approximate trend of the structure is north-south, the same
as that of the company's Cargalisgorran gold deposit which is located about 1km
to the north-east.

The original Tivnacree discovery resulted from shallow regional soil sampling
which outlined a large (300m by 250m) gold-in-soil anomaly. This was
subsequently trenched, and two shallow holes were drilled which intersected
quartz veining and low-grade gold mineralisation. Because of more pressing
priorities on other gold prospects within Conroy's portfolio, the follow-up work
programme planned to better define the structure at Tivnacree was deferred.

Conroy has now returned to the prospect, which it has always regarded as a
significant discovery in a previously untested area, and completed close-spaced
deep overburden sampling of the discovery. Over 100 samples were collected, most
of them from bedrock surface. Gold values in rock chip samples range up to 1,113
parts per billion (1.1gram/tonne) which the directors view as highly
encouraging.

This latest work has given Conroy a much better understanding of the mineralised
structure at Tivnacree and enabled it to lay out a programme of follow-up
drilling to test the extent of gold mineralisation. Drilling is expected to
commence later this month.

Concurrently, Conroy is progressively undertaking follow-up, close-spaced
geochemical and bedrock sampling on the ten new targets announced in April this
year in a 20km2 section of the Armagh-Monaghan Gold Belt between the known gold
occurrences at Tullybuck-Lisglassan and Glenish.

Conroy has attached particular importance to this programme as these targets all
lie within one of the three areas identified as being 'highly prospective' by
SRK Consulting in its 2004 review of Conroy's Irish gold properties. It is
focussing on these three areas because they appear to relate to intersections of
major deep-seated lineaments and the Orlock Bridge Fault. Such lineaments are of
particular significance because many economic gold deposits elsewhere in the
world are found on or near such structures.

Further Information:

Professor Richard Conroy, Chairman Conroy Diamonds and Gold Plc. 
Tel:[phone]
Charles Dampney, City Capital Securities Ltd. Tel: [phone]
Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: [phone]
Visit website at: www.conroydiamondsandgold.com



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