Persistence Gold Group Ltd — Board/Management Information 2010

Mar 1, 2010

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 ***

(Incorporated in Bermuda with limited liability)

(Stock Code: 1104)

APPOINTMENT OF DIRECTOR AND CHIEF FINANCIAL OFFICER

The Board of the Company is pleased to announce that Mr. Peter Anthony Curry has been appointed as a director and the Chief Financial Officer of the Company effective from 1 March 2010.

Mr. Peter Anthony Curry, aged 57, graduated from the University of New South Wales with a Bachelor Degree of Commerce in 1974 and a Bachelor Degree of Laws in 1976. He became a chartered accountant and a barrister (non-practising) in Australia in 1978. He was elected as a Fellow of The Institute of Directors in Australia in 1989. In 2002, he completed the PS 146 Compliance Program organised by Securities Institute in Australia.

Mr. Curry has over 35 years of business experience. He joined Peat Marwick Mitchell (now known as “KPMG”) in Australia in 1974 upon graduation and worked as Tax Partner in 1983. Since that time he has worked in different listed and unlisted companies in Australia as Executive Director/Managing Director specialising in natural resources, corporate finance, financial services investments, mergers and acquisitions etc.

Since 1995 Mr. Curry has been a director and shareholder in a corporate advisory firm which holds an Australian Financial Services licence. He has been involved in a range of public and private capital raisings, initial public offering related services and providing corporate and financial advisory services in relation to a range of business transactions including a wide range of mining projects.

From 2004 until recently Mr. Curry was an executive director of Golden Tiger Mining NL ( stock code: GTX ). He remains a non-executive director of Golden Tiger Mining NL and also Forrest Enterprises Australia Limited ( stock code: FEA ), both of which are listed on the Australian Stock Exchange.

There is a service agreement made between the Company and Mr. Curry and the appointment of Mr. Curry has no fixed term. Under the service agreement, the basic annual remuneration payable to Mr. Curry is HK$1,800,000.00 plus accommodation which was determined by reference to the remuneration benchmark for a director and a chief financial officer in the market. Mr. Curry will be entitled to receive discretionary bonus and to participate in the Company’s share option scheme at the sole discretion of the Board. Under the Bye-laws of the Company, Mr. Curry 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. Curry does not have any relationship with any other directors, senior management, substantial shareholders or controlling shareholders of the Company. As at the date of this announcement, Mr. Curry was not interested or deemed to be interested in any shares of the Company or underlying shares pursuant to Part XV of the SFO.

There is no information which is discloseable nor is/was Mr. Curry 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. Curry for joining the Company.

By Order of the Board APAC RESOURCES LIMITED Chong Sok Un Chairman

Hong Kong, 1 March 2010

As at the date of this announcement (immediately after the appointment of Mr. Peter Anthony Curry), the Directors of the Company are:

Executive Directors: Ms. Chong Sok Un (Chairman) , Mr. Andrew Charles Ferguson ( Chief Executive Officer ), Mr. Peter Anthony Curry ( Chief Financial Officer ), Mr. Liu Yongshun, Mr. Yue Jialin and Mr. Kong Muk Yin

Non-Executive Directors: Mr. Lee Seng Hui and Mr. So Kwok Hoo

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

* For identification purpose only