Persistence Gold Group Ltd — Capital/Financing Update 2007

Feb 2, 2007

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

*APAC RESOURCES LIMITED ( )

(Incorporated in Bermuda with limited liability)

(Stock code: 1104)

ANNOUNCEMENT

This announcement is made at the request of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”). Reference was made to the circular of the Company dated 12 December 2006 (the “Circular”). Terms defined in the Circular have the same meanings when used in this announcement.

The Directors (the “Directors”) of APAC Resources Limited (the “Company”) have noted today’s increase in the price and trading volume of the shares of the Company (the “Shares”) and the Directors wish to state that the Directors are not aware of any reasons for such increase save as the Company is conducting preliminary negotiation with certain party(ies) on proposed acquisition of certain listed securities (the “Proposed Acquisition”) in the resources industry. The Proposed Acquisition may or may not proceed.

As disclosed in the Circular, the Company had expressed its interest of acquiring further investment interests in the resources industry, where opportunities arise to make additional investments where returns are maximised for Shareholders, apart from the Conditional Acquisition.

The Directors confirm that save as the above-mentioned, there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under Rule 13.23 of the Ruling Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”), neither are the Directors aware of any matter discloseable under the general obligation imposed by Rule 13.09 of the Listing Rules, which is or may be of a price-sensitive nature.

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Made by the order of board of the Company, the Directors of which individually and jointly accept responsibility for the accuracy of this announcement.

By Order of the Board APAC RESOURCES LIMITED Yue Jialin Chairman

Hong Kong, 2 February 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.

* For identification purpose only

Please also refer to the published version of this announcement in The Standard.

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