Persistence Gold Group Ltd — Proxy Solicitation & Information Statement 2007

Jul 29, 2007

APAC RESOURCES LIMITED

*

(Incorporated in Bermuda with limited liability)

(Stock code: 1104)

FORM OF PROXY FOR SPECIAL GENERAL MEETING (OR ANY ADJOURNED MEETING)

I/We[1]

of

being the registered holder(s) of[2] shares of HK$0.10 each in the capital of abovenamed company (the “Company”), HEREBY APPOINT[3] the Chairman of the meeting or failing him

of

as my/our proxy to attend and vote for me/us and on my/our behalf at the special general meeting and at any adjourned meeting thereof (the “Meeting”) of the Company to be held at 7th Floor, Board Room, The Dynasty Club, South West Tower, Convention Plaza, 1 Harbour Road, Wanchai, Hong Kong on 15th August, 2007 at 10:30 a.m. for the purpose of considering and, if thought fit, passing the under-mentioned ordinary resolutions as set out in the notice convening the Meeting (the “Notice”) in the manner as hereunder indicated, and, if no such indication is given, as my/our proxy thinks fit.

Number ORDINARY RESOLUTION FOR4 AGAINST4 1. To approve the grant of options to Mr. Cao Zhong and Ms. Chong Sok Un to subscribe for 100,000,000 and 110,000,000 ordinary shares of the Company (“Proposed Options”) respectively at an exercise price of HK$1.50 per share. 2. To approve and authorise the directors of the Company to allot and issue up to a maximum of not more than 100,000,000 and 110,000,000 shares of par value of HK$0.10 each in the share capital of the Company, to Mr. Cao Zhong and Ms. Chong Sok Un respectively in accordance with the terms and conditions of the Proposed Options. 3. To refresh the 10 per cent. general limit on grant of options under the share option scheme of the Company. 4. To grant a general mandate to the directors of the Company to issue, allot and deal with additional shares of the Company not exceeding 20 per cent. of the aggregate nominal amount of the issued share capital of the Company as at the date of passing this resolution.

Dated this day of 2007. Signature(s)[5]

Notes:

1. Full name(s) and address(es) to be inserted in BLOCK CAPITALS .

2. Please insert the number of shares registered in your name(s). If no number is inserted, this form of proxy will be deemed to relate to all the shares in the capital of the Company registered in your name(s).

3. If any proxy other than the Chairman of the Meeting is preferred, delete the words “the Chairman of the meeting or failing him” and insert the name and address of the proxy desired in the space provided. ANY ALTERATION MADE TO THIS FORM OF PROXY MUST BE INITIALLED BY THE PERSON WHO SIGNS IT.

4. IMPORTANT: IF YOU WISH TO VOTE FOR ANY RESOLUTION, TICK THE BOX MARKED “FOR”. IF YOU WISH TO VOTE AGAINST ANY RESOLUTION, TICK THE BOX MARKED “AGAINST” . Failure to tick a box will entitle your proxy to cast your vote at his discretion. Your proxy will also be entitled to vote at his discretion on any resolution properly put to the meeting other than those referred to in the notice convening the Meeting.

5. This form of proxy must be signed by you or your attorney duly authorised in writing or, in the case of a corporation, must either be executed under its common seal or under the hand of an officer or other person duly authorised.

6. To be valid, this form of proxy, together with the power of attorney or other authority (if any) under which it is signed or a notarially certified copy of such power or authority, must be deposited at the Hong Kong Branch Share Registrar of the Company, Secretaries Limited, 26th Floor, Tesbury Centre, 28 Queen’s Road East, Wanchai, Hong Kong not less than 48 hours before the time appointed for holding the Meeting or any adjournment thereof (as the case may be).

7. Where there are joint registered holders of any share, any one of such persons may vote at the Meeting, either personally or by proxy, in respect of such share as if he were solely entitled thereto, but if more than one of such joint holders be present at the Meeting, personally or by proxy, that one of the said persons so present whose name stands first on the register of members of the Company in respect of such share shall alone be entitled to vote in respect thereof.

8. Any member entitled to attend and vote at the Meeting will be entitled to appoint another person as his proxy to attend and vote instead of him. The proxy need not be a member of the Company but must attend the Meeting in person to represent you.

9. Completion and deposit of the form of proxy will not preclude you from attending and voting at the Meeting if you so wish. If you attend and vote at the Meeting, the authority of your proxy will be deemed to have been revoked.

* For identification purpose only