6 July 2026

 

Conroy Gold and Natural Resources plc

("Conroy Gold" or "the Company")

 

OPERATIONAL AND CORPORATE UPDATE

Progress with Drilling Programme and TSX-V listing

 

·         Phase I drilling programme at Clontibret successfully undertaken, with five holes completed and a series of strongly encouraging assay results announced

·         Results indicate continuity both along strike and at depth, the identification of a significant Buddingtonite alteration zone, and increasing confidence in continuity between Clontibret and the Corcaskea target

·         Assay results are awaited from follow-on deep hole CGC-25-007, drilled to target the stockwork zone informed by CGC-25-001 (deepest gold mineralisation intersected to date)

·         Phase II of work has commenced, with drilling underway to test the extension of the Orlock Bridge Fault from the mineralisation in the Clay Lake target southwestwards towards the Clontibret deposit

·         The Company is continuing to advance plans for a dual listing on the TSX-Venture Exchange

Conroy Gold and Natural Resources plc (AIM: CGNR) is pleased to provide the following operational and corporate update on its "Discs of Gold" project in Ireland, anchored by the Clontibret gold deposit.

Operational Update

The Company is pleased to report the successful completion of its Phase I drilling programme at Clontibret which included the first steps towards understanding mineralisation at depth together with enhancing understanding of the Central zone lodes associated with the historic Tullybuck antimony mine and testing the continuity of the mineralising system towards the Corcaskea target.  The programme, carried out with three drill rigs, has enhanced the Company's geological understanding of the Clontibret system and reinforced its interpretation of a large, structurally controlled gold system that remains open in all directions.

The first hole of the programme, CGC-25-001, announced by the Company on 2 March 2026, intersected the deepest gold mineralisation recorded at Clontibret to date.  More than ten gold-bearing lodes were intersected with a best intercept of 2.8 metres at 4.5 g/t Au (including 0.5 metres at 15.0 g/t Au). At approximately 410 metres depth a zone of sulphide mineralisation returned 4 metres at 0.5 g/t Au.  The hole stopped in this mineralisation due to technical difficulties. The hole confirmed the interpreted continuity of mineralisation along strike and to depth.  The mineralising system remains open at depth.  These results continue to support the geological analogies between Clontibret and the high-grade Fosterville Gold Mine in Victoria, Australia (current endowment in excess of 10 million ounces) and underlines the potential for multi-million-ounce gold mineralisation at depth.

Drill holes CGC-25-002 and CGC-25-003, announced by the Company on 18 May 2026, identified a significant, intensely altered zone interpreted to represent Buddingtonite alteration - a widely recognised pathfinder mineral associated with hydrothermal gold systems that may act as an important vectoring tool towards further mineralisation at depth. Both holes also returned highly encouraging gold mineralisation across multiple zones, including headline intersections of 1.0 metre at 16.7 g/t Au and 3.5 metres at 4.8 g/t Au (including 0.5 metres at 11.2 g/t Au), as part of a step-out programme testing the northern strike extent to depth of the Central zone lodes associated with the historic Tullybuck antimony mine.

Most recently, on 22 June 2026, the Company announced results from step-out drillhole CGC-25-005 on the Eastern Zone, which increased confidence in the continuity of the mineralised system in an area of minimal drilling within the resource footprint northwards towards the Corcaskea target, where trenching has returned 16.5 metres at 6.5 g/t Au. Several of the lode zones intersected were stronger and wider than in the nearest comparable historic drillhole (CL84-1; located c.150m to the south), providing additional support for the Company's interpretation of persistent gold-bearing lodes extending northwards, and demonstrating that the deposit remains open towards the highly prospective Corcaskea target.

Drillhole CGC-25-007 targeted the stockwork zone at depth directly below the old Tullybuck antimony mine and was informed by observations from CGC-25-001. CGC-25-007 was drilled to a down hole depth of 592.1 metres at an angle of -83o for a true depth of 588m and represents a key step in enhancing the geological knowledge of the Clontibret gold mineralisation system and assessing the potential for higher-grade, structurally controlled mineralisation at depth. The drill core has been logged, split and sampled, with samples dispatched to the ALS laboratory in Loughrea. The Company looks forward to announcing the assay results from CGC-25-007 in due course.

Figure 1.  Deeper Drilling at Clontibret

The Company is pleased to report that Phase II of its work programme has commenced, with drilling underway to test the Orlock Bridge Fault from the Clay Lake target towards Clontibret.  Stockwork intersections of 40.5m @ 1.2 g/t Au and 100.0m at 0.6 g/t Au have been previously recorded at Clay Lake and electromagnetic geophysical interpretation shows a structural trend between the broad gold bearing stockwork zones at Clay Lake target with the stockwork zone in Clontibret 7km to the southwest where similar intersections have been recorded.  Both targets are open in all directions including at depth. 

This phase of work is designed to evaluate the continuity and scale of the Orlock Bridge Fault and to further establish the trend of the Clay Lake stockwork in an initial step towards establishing a resource at Clay Lake.

Figure.2: Planned Phase II Drilling Programme

Further drilling is also planned for Clontibret which will be informed by the additional understanding of the deposit brought about by recent drilling and the relogging programme particularly regarding the Buddingtonite alteration zone and stockwork zones at depth and along strike.

Corporate Update

The Company continues to advance its plans in relation to a proposed dual listing of its shares on the TSX-Venture Exchange ("TSX-V") in Canada. Following the constructive engagement with prospective strategic and financial partners, industry stakeholders and shareholders at the PDAC annual meeting in Toronto earlier this year, and building on the support received from long-term value investors in North America in the Company's October 2025 placement, the Board is progressing its assessment of a dual listing as a means of broadening the Company's access to North American investors and different pools of capital outside of the UK.

A TSX-V listing would offer North American investors a path onto the Company's share register and an ability to transact more easily. The Board's overriding priority remains to protect and enhance value for the Company's current shareholders as it works to advance the "Discs of Gold" project towards mine development. A potential dual listing remains subject to, amongst other things, satisfaction of the relevant listing requirements, and there can be no guarantee that a dual listing on the TSX-V will proceed nor as to the timing thereof. The Company will continue to update shareholders as matters progress.  The Company also remains in ongoing discussions with prospective strategic and financial investors regarding funding for future phases of work on the "Discs of Gold" project.

John Sherman, Chairman, commented:

"The successful completion of our Phase I drilling programme marks a significant milestone for the Company. Across the programme we have intersected the deepest gold mineralisation to date at Clontibret, identified a substantial Buddingtonite alteration system that may help vector us towards further mineralisation, and also demonstrated increasing continuity of the system northwards towards Corcaskea.

Collectively, these results continue to build our confidence in the scale and grade potential of the Clontibret gold system.  We now look forward to the results from CGC-25-007, our deep hole designed to test the stockwork zone directly, following on from the encouraging mineralisation at depth seen in our first hole. We will update shareholders as the assay results become available."

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.95km, 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 JORC (2012) 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 occurred within the licence area. There are clear geological analogies between the "Discs of Gold" targets and large gold deposits in Southeastern Australia and Atlantic Canada.

This release has been approved by Kevin McNulty PGeo, who is a member of the Company's technical staff and holds a BSc/MSc in Geology and Remote Sensing, in accordance with the guidance note for Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies, which outlines standards of disclosure for mineral projects.

For further information please contact:

Conroy Gold and Natural Resources plc   Tel: +353-1-479-6180

John Sherman, Chairman

Maureen Jones, Managing Director

Allenby Capital Limited (Nomad)   Tel: +44-20-3328-5656

Nick Athanas / Nick Harriss

Hybridan LLP (Broker)     Tel: +44-20-3764-2341

Claire Louise Noyce

Lothbury Financial Services    Tel: +44-20-3290-0707

Michael Padley

Hall Communications     Tel: +353-1-660-9377

Don Hall

Visit the website at: www.conroygold.com