Persistence Gold Group Ltd — Board/Management Information 2009

Sep 30, 2009

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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APAC RESOURCES LIMITED

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(Incorporated in Bermuda with limited liability) (Stock Code: 1104)(Warrant Code: 324)

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The Board of the Company announces that:

1. Mr. Alan Stephen Jones has resigned as an independent non-executive director of the Company effective from 30 September 2009; and

2. Mr. Lee Seng Hui has been appointed as a non-executive director of the Company effective from 2 October 2009.

Resignation of Independent Non-executive Director

The Board of Directors (the “ Board ”) of APAC Resources Limited (the “ Company ”) announces that Mr. Alan Stephen Jones has resigned as an independent non-executive director of the Company effective from 30 September 2009 and should ipso facto cease to be a member of the Audit Committee and Remuneration Committee of the Company on the same date.

Mr. Jones resigned for reasons of reducing his workload. Mr. Jones has confirmed that there is no disagreement with the Board and is not aware of any matters that need to be brought to the attention of the shareholders of the Company.

The Board wishes to express its gratitude to Mr. Jones for his contributions to the Company during his tenure of services.

Appointment of Non-executive Director

The Board of the Company is pleased to announce that Mr. Lee Seng Hui has been appointed as a non-executive director of the Company effective from 2 October 2009.

Mr. Lee Seng Hui, aged 40, is the chief executive of Allied Group Limited ( stock code: 373 )(“ AGL ”) since January 1998. He was appointed a non-executive director of AGL in July 1992 and became an executive director of AGL in December 1993. Mr. Lee graduated from the Law School of the University of Sydney with Honours. Previously, he worked with Baker & McKenzie and N M Rothschild & Sons (Hong Kong) Limited. He is also the chairman and a non-executive director of Tian An China Investments Company Limited ( stock code: 28 ), and a non-executive director of Tanami Gold NL ( stock code: TAM ), the shares of which are listed on the Australian Securities Exchange. Mr. Lee was previously the chairman and an executive director of Yu Ming Investments Limited (now known as SHK Hong Kong Industries Limited) ( stock code: 666 ). Save as mentioned in this announcement, Mr. Lee has not held any directorship in any listed public companies in the past three years. He does not hold any position in any subsidiaries of the Company.

There is no service agreement between the Company and Mr. Lee and the appointment of Mr. Lee has no fixed term. Under the Bye-laws of the Company, Mr. Lee will hold the office of a director of the Company until the next following general meeting of the Company and will then be eligible for re-election at that meeting. Mr. Lee does not receive any emoluments for his directorship in the Company.

As at the date of this announcement, Mr. Lee, one of the trustees of Lee and Lee Trust being a discretionary trust, is deemed to have a security interests in 598,532,893 shares of the Company pursuant to Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)(“ SFO ”) by virtue of his deemed interests in Sun Hung Kai & Co. Limited, a substantial shareholder of the Company and an indirect non-wholly owned subsidiary of AGL which is held by Lee and Lee Trust together with Mr. Lee as to 44.54%.

Save as disclosed above, Mr. Lee does not have any relationship with any other directors, senior management, substantial shareholders or controlling shareholders of the Company nor does he have any other interest in the shares of the Company within the meaning of Part XV of the SFO.

There is no information which is discloseable nor is/was Mr. Lee involved in any of the matters required to be disclosed pursuant to any of the requirements under paragraphs 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and there are no other matters concerning him that need to be brought to the attention of the shareholders of the Company.

The Board wishes to express its warmest welcome to Mr. Lee for joining the Company.

By Order of the Board APAC RESOURCES LIMITED Cao Zhong Chairman

Hong Kong, 30 September 2009

As at the date of this announcement (immediately after the resignation of Mr. Alan Stephen Jones and the appointment of Mr. Lee Seng Hui), the Directors of the Company are:

Executive Directors: Mr. Cao Zhong (Chairman) , Mr. Liu Yongshun (Chief Executive Officer) , Mr. Zhou Luyong (Deputy Chief Executive Officer) , Ms. Chong Sok Un, Mr. Chen Zhaoqiang and Mr. Yue Jialin

Non-Executive Director: Mr. Lee Seng Hui

Independent Non-Executive Directors: Mr. Wong Wing Kuen, Albert, Mr. Chang Chu Fai, Johnson Francis and Mr. Robert Moyse Willcocks

* For identification purpose only