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Persistence Gold Group Ltd Board/Management Information 2007

Mar 2, 2007

50623_rns_2007-03-02_04d66a01-ab2f-4b7b-9b4c-324821db4897.pdf

Board/Management Information

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**APAC RESOURCES LIMITED ( )*

(Incorporated in Bermuda with limited liability)

(Stock code: 1104)

CLARIFICATION ANNOUNCEMENT

Reference is made to the announcement of APAC Resources Limited (the “Company”) dated 10 January 2007 (the “Announcement”) in respect of the redesignation of Mr. Michael Joseph Bogue (“Mr. Bogue”) from an independent non-executive Director to executive Director. Terms used in the Announcement have the same meanings when used in this announcement.

Further to the Announcement, the Company would like to clarify the term of Mr. Bogue’s appointment shall continue until 30 June 2008, subject to the provisions of the bye-laws of the Company (“the Bye-Laws”), or other applicable laws whereby a director shall vacate his office. In particular, the term of his appointment shall be subject to the provisions of retirement and re-election at the annual general meeting of the Company in accordance with the Bye-Laws.

Pursuant to a service contract dated 2 March 2007 entered into between Mr. Bogue and the Company, Mr. Bogue is entitled to receive a director’s fee of Australian Dollars $100,000.00 per annum which shall be payable on monthly basis in the manner requested by Mr. Bogue from time to time and be eligible to receive discretionary bonus and other benefits in cash or in kind. Such remuneration package is determined by the Board with reference to Mr. Bogue’s experience and knowledge, scope of duties and responsibilities.

By Order of the Board APAC RESOURCES LIMITED Yue Jialin Chairman

Hong Kong, 2 March 2007

As at the date of this announcement, the board of Directors comprises Mr. Yue Jialin (Chairman), Mr. Lau Yau Cheung (Chief Executive Officer), Mr. Michael Joseph Bogue being the executive Directors and Mr. Wong Wing Kuen, Albert, Mr. Tsui Robert Che Kwong and Mr. Yang Weiming being the independent non-executive Directors.