1 September 2021
Conroy
Gold and Natural Resources PLC
(“Conroy Gold” or “the Company”)
UPDATE ON PROPOSED
JOINT VENTURE PARTNERSHIP
- Definitive agreements for proposed joint venture with Demir
Export A.S. at an advanced stage
- Letter of Intent (“LOI”) terms form the basis for the
definitive agreements
- On completion of final documentation an Extraordinary
General Meeting (“EGM”) of Conroy
Gold is to be held to seek shareholder approval
Conroy Gold and Natural Resources
PLC (AIM: CGNR), the gold exploration and development company
focused on Ireland and
Finland, is pleased to announce
that the definitive agreements for the proposed Joint Venture with
Demir Export A.S. (“Demir Export”), on an earn-in basis,
over the licences held by Conroy
Gold along its 65km district scale gold trend in the
Longford-Down Massif in Ireland
have reached an advanced stage.
On completion of documentation an EGM will be held to seek
shareholder approval. As agreed by Conroy Gold and Demir Export the terms of the
Letter of Intent form the basis for the definitive agreements and
the two parties continue to progress the Joint Venture on terms
materially identical to those announced on 25 February 2021.
The primary focus of the joint venture project (“Project
Inis”) is the development of the gold deposit within the
Clontibret licence to construction ready status and bringing it
into operation as a gold mine. The parties further aim is to have
the other licences held by Conroy
Gold given the same status one after the other. Clontibret
is expected to provide the foundation for a long-term relationship
between the parties.
Professor Richard Conroy,
Chairman, commented:
“My colleagues and I look forward
very much to working with the Demir Export team on the joint
venture partnership - Project Inis - and building the foundations
for a long term, successful relationship.
Demir Export has the mining expertise
and the financial resources not only to bring the Clontibret gold
deposit to construction ready status and into operation as a mine,
but also to advance the significant gold potential of the other
licences along the gold trend to the same status.
I look forward to the completion of
final documentation and to seeking shareholder approval at the
subsequent EGM.”
For further information please contact:
Conroy Gold and
Natural Resources PLC |
Tel:
+353-1-479-6180 |
Professor Richard
Conroy, Chairman |
|
Allenby Capital
Limited (Nomad) |
Tel:
+44-20-3328-5656 |
Nick Athanas/Nick
Harriss |
|
First Equity
Limited (Broker) |
Tel:
+44-20-7330-1883 |
Jason Robertson |
|
Lothbury Financial
Services |
Tel:
+44-20-3290-0707 |
Michael Padley |
|
Hall
Communications |
Tel:
+353-1-660-9377 |
Don Hall |
|
Visit the Company website at www.conroygold.com |
|