24 November 2008

                         Conroy Diamonds and Gold Plc                          

                          ("Conroy" or "the Company")                          

                                   AIM: CDG                                    

                     Further re: Related Party Transaction                     

Further to the final results announcement dated 11 November 2008, Conroy, the
gold exploration and development company focused on Ireland and Finland,
announces the further terms of the loans advanced by Professor Conroy to
support the working capital requirements of the Company.

As set out in the Chairman's statement dated 11 November 2008, during the year
ended 31 May 2008 Professor Conroy advanced aggregate loans of Euro734,780. These
loans were made in accordance with a letter of support dated 24 November 2007,
which was renewed on 11 November 2008. The renewed letter of support provides
confirmation of support from Professor Conroy for the current financial period
ending 31 May 2009.

The loans have been and will continue to be made on normal commercial terms.
The interest on the loans is currently accruing at a rate of 8.25 per cent per
annum. The loans may be repaid at anytime but Professor Conroy has confirmed
that he will not request repayment, other than in exceptional circumstances,
within a period of less than one year.

Further enquiries:

Conroy Diamonds and Gold Plc                           Tel: 00 353 1 661 8958
                                                                             
Professor Richard Conroy                                                     
                                                                             
John East & Partners Limited                               Tel: 020 7628 2200
                                                                             
Jeffrey Coburn                                                               
                                                                             
City Capital Corporation Limited                           Tel: 020 7842 5867
                                                                             
Charles Dampney                                                              
                                                                             
Lothbury Financial Limited                                 Tel: 020 7011 9411
                                                                             
Ron Marshman / Michael Padley                                                



END
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