Persistence Gold Group Ltd — Capital/Financing Update 2012

Feb 17, 2012

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)

VOLUNTARY ANNOUNCEMENT ACCEPTANCE OF CASH OFFER FOR KALAHARI MINERALS PLC

The Board of the Company announces that on 16 February 2012, APAC Resources Capital Limited has received approximately GBP81,505,145 (equivalent to approximately HK$990,287,512) in cash as settlement. As at the date of this announcement, the Group no longer holds any Kalahari Shares.

Reference is made to the announcement of the Company dated 12 January 2012 (the “ Announcement ”) in relation to the acceptance of Offer by APAC Resources Capital Limited, a wholly owned subsidiary of the Company, in respect of all Kalahari Shares owned by it. Unless the context requires otherwise, terms defined in the Announcement have the same meanings when used in this announcement.

The Board of the Company announces that on 16 February 2012, APAC Resources Capital Limited has received approximately GBP81,505,145 (equivalent to approximately HK$990,287,512) in cash as settlement. As at the date of this announcement, the Group no longer holds any Kalahari Shares.

The Group is an established natural resources investment and commodity business group which focuses on natural resources with business lines comprising primary strategic investment; resource investment; and commodity business. The Group intends to use the proceeds from the Offer for the repayment of bank and securities margin loans, for further investment in its primary strategic investment and resource investment businesses and for working capital.

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Unless otherwise stated, amounts in GBP have been translated into HK$ at the exchange rate of GBP1.00 to HK$12.15 for illustration purpose only. No representation has been made that any amount in GBP or HK$ can be or could have been converted at the relevant dates at the above rate or any other rates at all.

By Order of the Board APAC Resources Limited Chong Sok Un Chairman

Hong Kong, 16 February 2012

As at the date of this announcement, the directors of the Company are:

Executive Directors

Ms. Chong Sok Un (Chairman) , Mr. Andrew Ferguson (Chief Executive Officer) , Mr. Yue Jialin and Mr. Kong Muk Yin

Non-Executive Directors

Mr. Lee Seng Hui, Mr. So Kwok Hoo, Mr. Liu Yongshun and Mr. Peter Anthony Curry

Independent Non-Executive Directors

Dr. Wong Wing Kuen, Albert, Mr. Chang Chu Fai, Johnson Francis and Mr. Robert Moyse Willcocks

• For identification purpose only

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