Persistence Gold Group Ltd — Major Shareholding Notification 2007

Apr 24, 2007

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”).

The directors (the “Directors”) of APAC Resources Limited (the “Company”) have noted today’s increase in the 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 Profit Harbour Investments Limited (“Profit Harbour”), the controlling shareholder of the Company which is solely owned by the Chairman of the Company, Mr. Yue Jialin, has disposed of 600,000,000 Shares at a price of HK$0.80 per share in the market on 24 April 2007 (the “Disposal”), representing approximately 18.08% of the existing issued share capital of the Company as at the date of this announcement. Before the Disposal, Profit Harbour held 1,193,399,602 Shares, representing approximately 35.96% of the existing issued share capital of the Company. After the Disposal, Profit Harbour holds 593,399,602 Shares, representing approximately 17.88% of the existing issued share capital of the Company.

The Directors also confirm that save as the above-mentioned, there are no negotiations or agreements relating to intended acquisitions or realizations which are discloseable under Rule 13.23 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (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.

Made by the order of the 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, 24 April 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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