Projects Overview

Conroy Gold and Natural Resources plc’s (“Conroy Gold”) projects are focused on Ireland and Finland.

Conroy Gold’s primary focus in Ireland is the development of a gold mine on its Clontibret gold target and the continued exploration of the district scale, 65km (40 miles) gold trend, which the Company has discovered along a major geological structure, the Orlock Bridge Fault Zone, in the Longford - Down Massif, in northeast Ireland.

The Clontibret gold target is one of four primary gold targets, with gold proven in bedrock, that have been discovered along the trend. The other primary gold targets are Clay Lake and Glenish, 7km (4.5 miles) northeast and southwest of Clontibret respectively, in the northeast of the Company’s licence area and the Slieve Glah gold target in the southwest of the gold trend.

A (JORC 2012) estimated resource of 320,000 Oz Au Indicated, 197,000 Oz Au Inferred, (517,000 Oz Au), at an overall grade of 2 g/t Au, has been established on a fraction of the Clontibret gold target area with the majority of the drilling to date to a depth of less than 200m and a maximum vertical depth of 350 metres.

A preliminary economic assessment (PEA) at a gold price of US$1,372 has been undertaken by independent consultants Coffey (Tetra Tech), demonstrating both financial and technical viability with an NPV (8) US$72.3m and IRR 49.4% and payback within year 2.

The Clontibret gold deposit remains open in all directions, as well as to depth, and excellent gold intersections, e.g. 16.6m at 6.5 g/t Au, have been recorded outside the current resource area.

Drill results at Clontibret have shown high gold grades and intersections including: 24.4g/t Au over 1.0 metre, 21.6g/t Au over 1.2 metres, 9.2g/t Au over 3.9 metres and 6.1g/t Au over 5.0 metres

The Clay Lake gold target is an extensive gold target situated 7km to the northeast of the Clontibret gold target. Drilling has intersected 6.2g/t Au over 6.6 metres and 0.6g/t over 100 metres, while trenching has intersected 2.2g/t Au over 12.0 metres and 3.0g/t Au over 5.0 metres. These very wide intersections and high gold grades demonstrate the significant potential for high tonnage and overall gold content in the Clay Lake gold target.

The Glenish gold target, an extensive geochemical anomaly situated 7km to the southwest of the Clontibret gold target, where channel sampling has confirmed gold-in-bedrock with intersected grades up to 9.4g/t Au over 1.0 metre. The Glenish target is situated at the intersection of two major faults; the Orlock Bridge Fault and the Glenish Fault.

At Slieve Glah, located in the southwest of the 65km (40 miles) gold trend, a series of gold targets, each approximately 3km in length, have been discovered by the Company. The Slieve Glah gold targets are associated with a significant flexure in the Orlock Bridge Fault Zone and Slieve Glah is regarded as a large and very promising target area.

The Company considers the area along the Orlock Bridge Fault Zone highly prospective for gold mineralisation and geochemical and geophysical surveys and structural interpretation from satellite imagery has identified a series of other gold targets, all in the Company’s 100% held licences.

The Longford-Down Massif also has base metal potential, particularly for lead, zinc and antimony.

Conroy Gold’s primary focus in Finland is exploration for gold in the Lapland gold belt. This region of Finland hosts Europe’s largest gold mine, the 4.4 million Oz Au Kittila gold mine. Conroy Gold believes that the area in the Lapland gold belt over which the Company holds exploration licences is highly prospective for the discovery of a significant iron oxide copper gold (IOCG) deposit.

Ireland and Finland are mining friendly countries with established mining traditions and a favourable business climate. There is security of tenure and fiscal framework in both countries and excellent infrastructure and technical services readily available.

Further details in relation to the Company’s projects may be accessed under the following headings:

Mining in Ireland

The Longford-Down Massif

Clontibret gold deposit

Clay Lake gold target

Glenish gold target

Slieve Glah gold target

Other gold targets in Longford-Down Massif

Base metal potential of Longford-Down Massif

Mining in Finland

The Lapland gold belt

Ruosselkä IOCG target