CGNR Conroy Gold & Natural Resources Plc

27 February 2025

Conroy Gold and Natural Resources PLC

(“Conroy Gold” or “the Company”)

INITIAL ANALYSIS HIGHLIGHTS FURTHER GOLD / ANTIMONY POTENTIAL AT THE CLONTIBRET DEPOSIT

• New gold and antimony trends identified within the deposit area
• Areas identified for follow-up exploration drilling
• Work continuing on 3D geological model

Conroy Gold and Natural Resources PLC (AIM: CGNR) is pleased to announce initial results from re-modelling of the Clontibret gold deposit, including the portable XRF (“pXRF”) analyses.  This work is part of the re-logging programme for the Clontibret drill core where the construction of a more robust 3D geological model is underway beginning with the cross sections in the existing deposit where the re-logging is complete. 

Mr John Sherman, the Company’s Chairman, commented:  “These are exciting new results showing further significant antimony potential and some initial progress in relation to targeting additional gold mineralisation at depth.”

Mineralisation shells have been constructed for gold, based on all laboratory assay data to date, and these shells indicate a plunge trend of the gold mineralisation to as yet untested depths at the Clontibret gold deposit. This could be significant in targeting high grade gold mineralisation at depth.

The detailed pXRF analysis has identified a second trend to the antimony mineralisation at the Clontibret deposit. Antimony was previously mined at Clontibret from two drifts that followed the approximate North – South orientation of the mineralisation where grades of 14.5 per cent. over 1.2 metres have been recorded. The recent mineralisation shells generated from the pXRF antimony analysis of the drill core from the Clontibret gold deposit has identified a second trend, of a Northeast – Southwest orientation.  This newly identified mineralisation trend parallels that of the stockwork gold mineralisation.

The analysis has also identified antimony mineralisation from scout drill holes that were situated on the southern side of the stockwork gold mineralisation. This area had previously not been the focus of detailed exploration; these new results however highlight the significant potential of this area.

The Company is progressing with the construction of the 3D geological model and pXRF analysis is continuing on Clontibret drill core from outside of the deposit area. This work contributes to the Company’s ongoing discussions with potential strategic and financial partners on defining and funding the next cycle of major investment in the “Discs of Gold” project. It also supports the Company’s planned application to the European Union for recognition of Clontibret, with its antimony (Sb) potential, as a strategic project under the European Critical Raw Materials Act of 2024.

About the “Discs of Gold” Project

Conroy Gold’s “Discs of Gold” project in Ireland is defined by two parallel district scale gold trends, extending over c.90km, which are 100 per cent. held under license by the Company, and anchored by the Clontibret gold deposit.  The Clontibret target area contains a currently defined 517Koz gold resource @ 2.0 g/t Au (320Koz Au Indicated and 197Koz Au Inferred (2017)) which remains open in multiple directions. The Company has identified a further seven gold targets in its license area with the Clay Lake and Creenkill gold targets being of particular interest.  Gold occurs in multiple styles in the Company’s license area, including free gold, refractory gold in arsenopyrite and gold associated with pyrite and antimony (stibnite), suggesting multiple hydrothermal events seeded the deposit. There are clear geological analogies between the “Discs of Gold” targets and large gold deposits in Southeastern Australia and Atlantic Canada.

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Visit the website at: www.conroygold.com