Conroy Gold & Natural Resources Plc – Results from 2 Drill Holes at Clontibret

18 May 2026

[2011 Jan 28 CGNR Logo]

Conroy Gold and Natural Resources plc

(«Conroy Gold» or «the Company»)

RESULTS FROM TWO DRILL HOLES IDENTIFY SIGNIFICANT

ALTERATION ZONE AT CLONTIBRET

· Extensive alteration zone identified in both drill holes

· Buddingtonite alteration may indicate proximity to concealed hydrothermal
gold system at depth

· Headline gold intersections of 3.5 metres at 4.8 g/t Au (including 0.5
metres @ 11.2 g/t Au and 1.0 metre at 16.7 g/t Au)

Conroy Gold and Natural Resources plc (AIM: CGNR) is pleased to announce assay
results for a further two drill holes from the current phase of its drill
programme (CGC-25-002 and CGC-25-003, totalling 566.7m) at its Clontibret gold
deposit in Ireland.

These two drill holes were designed to test the northern strike extension of the
central gold lodes associated with the historic Tullybuck antimony mine going
northwards towards a postulated northern fault which may exert an important
control on mineralisation.

Both drill holes intersected a significant intensely altered zone interpreted to
represent Buddingtonite alteration, although further confirmatory analytical
work remains ongoing. Buddingtonite is widely recognised as a potential
pathfinder mineral associated with concealed hydrothermal gold systems and may
act as a vector towards additional gold mineralisation at depth.

The drill holes also intersected highly encouraging gold mineralisation across
multiple zones. CGC-25-002 intersected 17 separate gold-bearing zones,
highlighted by an interval of 1.0m at 16.7 g/t Au from 37.1m depth, a
substantial 3.5m at 4.8 g/t Au from 123.5m (including a high-grade sub-interval
of 0.5m at 11.2 g/t Au), and 2.1m at 4.2 g/t Au from 220.1m (including 0.7m at
9.6 g/t Au). CGC-25-003, drilled approximately 50 metres to the north at a
steeper inclination, intersected six further gold-bearing zones, confirming the
lateral continuity of mineralisation along strike.

John Sherman, Chairman, commented:

«These latest drill results continue to demonstrate the significant gold
endowment at Clontibret while also highlighting the growing geological potential
of the wider system.

The identification of a substantial alteration zone, interpreted as
Buddingtonite-bearing, is particularly encouraging as this type of alteration
can be associated with major hydrothermal gold systems worldwide.

We believe these results provide important new geological insights which may
assist in targeting further mineralisation as exploration advances.»

Current Clontibret Drilling Programme

The ongoing five hole drilling programme is set out below.  The results of CGC
-25-001 were announced by the Company on 2nd March 2026 showing the deepest gold
mineralisation intersected to date at Clontibret.

[image]

Alteration Zone

The alteration zone identified in both drill holes (CGC-25-002 and CGC-25-003)
has a strike orientation similar to the known gold lodes, at approximately 330
degrees azimuth. Hyperspectral core scanning undertaken on samples from the
alteration zone identified a primary Buddingtonite spectral response at 2116nm.
Supporting portable XRF and multi-element geochemical analyses indicate a strong
potassium alteration signature characterised by elevated potassium and rubidium
values together with depleted magnesium and calcium.

Buddingtonite forms when hot, potassium and ammonium-rich fluids react with host
rock as they migrate upwards through faults and fractures. In gold systems
worldwide, it is commonly developed in the alteration «halo» surrounding and
overlying ore-grade mineralisation, marking the pathway the gold-bearing fluids
travelled. The combined hyperspectral, portable XRF and geochemical signature
observed at Clontibret is characteristic of this fluid-rock interaction and
supports the interpretation that the drill holes have intersected part of a
larger hydrothermal system. The Company believes the identification of this
alteration system may provide an important vectoring tool for future exploration
targeting within the Clontibret gold system and particularly at depth and
towards the northern fault.

Further announcements will be made as the drilling programme progresses.

Samples identified for hyperspectral scanning

[image]

[image]

Drill results showing intersections of gold mineralisation

Drill Hole CGC-25-002

Drill hole CGC-25-002 intersected 17 separate gold zones and extensive
alteration. The hole was drilled to a total depth of 351.1 metres on an azimuth
of 090 degrees at an inclination of -60 degrees.

CGC-25-002 Intersections

· 1.0m @ 16.7 g/t Au from 37.1m
· 1.4m @ 0.3 g/t Au from 50.5m
· 3.7m @ 1.2 g/t Au from 115.0m
· 3.5m @ 4.8 g/t Au from 123.5m (inc. 0.5m @ 11.2 g.t Au)
· 0.7m @ 0.4 g/t Au from 131.5m
· 0.7m @ 1.1 g/t Au from 148.0m
· 1.5m @ 2.9 g/t Au from 175.0m
· 0.8m @ 0.8 g/t Au from 189.2m
· 1.0m @ 0.5 g/t Au from 198.0m
· 0.8m @ 2.2 g/t Au from 207.0m
· 2.1m @ 4.2 g/t Au from 220.1m (inc. 0.7m @ 9.6 g.t Au)
· 1.2m @ 0.8 g/t Au from 226.0m
· 0.9m @ 0.5 g/t Au from 229.m
· 1.1m @ 2.5 g/t Au from 245.6m
· 0.8m @ 0.4 g/t Au from 258.2m
· 1.5m @ 1.1 g/t Au from 259.5m
· 0.5m @ 1.5 g/t Au from 342.0m

(Only intercepts of 0.3 g/t or greater over 1.0m are presented)

All samples were analysed by ALS (OMAC Laboratories), Loughrea, using the Au
-ICP21 method – fire assay (30 g) for gold and aqua regia digest with ICP-AES
finish (0.5 g) for multi-element analysis.

Drill Hole CGC-25-003

Drill hole CGC-25-003 was drilled approximately 50 metres north of CGC-25-002 at
a steeper inclination (-75 degrees) to a total depth of 215.6 metres.

The hole intersected six gold-bearing zones and a continuation of the intense
alteration zone identified in CGC-25-002. Drilling terminated within the
alteration zone due to technical difficulties.

CGC-25-003 Intersections

·0.5m @ 2.7 g/t Au from 35.0m

·0.5m @ 2.1 g/t Au from 45.5m

·0.5m @ 2.6 g/t Au from 50.0m

·0.5m @ 1.1 g/t Au from 98.0m

·3.0m @ 0.8 g/t Au from 118.0m

·1.0m @ 0.7 g/t Au from 192.0m

(Only intercepts of 0.3 g/t or greater over 1.0m are presented)

All samples were analysed by ALS (OMAC Laboratories), Loughrea, using the Au
-ICP21 method – fire assay (30 g) for gold and aqua regia digest with ICP-AES
finish (0.5 g) for multi-element analysis.

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.

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.

Technical Glossary

+—–+———————————————————————-+
|ALS |Analytical Laboratory Services |
+—–+———————————————————————-+
|Au |Gold |
+—–+———————————————————————-+
|Fire |An assay procedure involving heating the sample in a furnace to ensure|
|Assay|complete extraction of all the contained precious metal |
+—–+———————————————————————-+
|g/t |Grams per metric tonne |
+—–+———————————————————————-+
|ICP |Inductively coupled plasma |
+—–+———————————————————————-+
|ICP |Inductively coupled plasma atomic emission spectroscopy |
|-AES | |
+—–+———————————————————————-+
|nm |Nanometres |
+—–+———————————————————————-+
|XRF |X-ray fluorescence |
+—–+———————————————————————-+

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 Tel: +44-20-3290-0707

Lothbury Financial Services
Michael Padley
Hall Communications Tel: +353-1-660-9377
Don Hall

Visit the website at: www.conroygold.com

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