Persistence Gold Group Ltd — Board/Management Information 2007

Sep 9, 2007

APAC RESOURCES LIMITED

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(Incorporated in Bermuda with limited liability)

(Stock Code: 1104)

REDESIGNATION OF DIRECTOR

The board (“the Board”) of directors (“the Directors”) of APAC Resources Limited (“the Company”) is pleased to announce that with effect from 7th September 2007, Mr. Chen Zhaoqiang has been redesignated as an executive Director of the Company.

Mr. Chen Zhaoqiang , aged 39, was appointed as non-executive Director of the Company on 6th July 2007. Mr. Chen obtained his Bachelor’s Degree in Mining Engineering from Jiaozuo Mining Institute in 1989. He subsequently obtained his Master Degree in Management Science from Huazhong University of Science & Technology. Mr. Chen has had a number of major appointments in the coal mining industry. He was the vice chairman of Political Consultation, Xiangcheng County, Henan Province in 2004. He was also elected as one of the Top 10 Young People in Pingdingshan City in 2006. He worked in Pingdingshan Coal Co. Ltd. as a technician, director of operational division, vice general engineer, director of technical division and Coalmine head from July 1989 to March 2004. He was appointed as both the vice chairman of Pingbao Coal Co. Ltd. and director of Shoushan No. 1 Coalmine of Pingdingshan Coal Co. Ltd. from April 2004 to January 2007. He was appointed as vice general manager of Henan Company for Coal Seam Gas Development & Application since March 2007. Mr. Chen’s extensive experience in coal supply management for coal mining, technology development and management, purchase and logistics management, mineral resources development, project management and coal trading will contribute to the Company’s business growth and expansion into the coal mining industry.

Based on the service contract between the Company and Mr. Chen, he is entitled to receive a remuneration payable monthly in arrear. Mr. Chen has not been appointed for a specific term but shall be subject to the relevant provisions of retirement and re-election at the general meetings of the Company in accordance with the bye-laws of the Company.

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As at the date of this announcement, Mr. Chen personally has no direct interest in the Company. However, the Company has granted, pursuant to its share option scheme, options to Mr. Chen to subscribe 33,000,000 shares of the Company at HK$1.50 per share. Save as disclosed above, as at the date of this announcement, Mr. Chen also does not have any interest in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and does not have any relationship with any of the Directors, senior management, substantial or controlling shareholders of the Company.

In addition, Mr. Chen is also not aware of any matters that are required to be disclosed pursuant to Rules 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 of any other matters that need to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to express its warm welcome to Mr. Chen’s redesignation.

By Order of the Board APAC RESOURCES LIMITED Cao Zhong Chairman

Hong Kong, 7th September 2007

As at the date of this announcement (after the redesignation), the Directors are:-

Executive Directors:

Mr. Cao Zhong (Chairman) , Mr. Liu Yongshun (Chief Executive Officer) , Mr. Zhou Luyong (Deputy Chief Executive Officer) , Ms. Chong Sok Un, Mr. Chen Zhaoqiang, Mr. Lau Yau Cheung and Mr. Yue Jialin

Independent Non-Executive Directors:

Mr. Wong Wing Kuen, Albert, Mr. Tsui Robert Che Kwong, Mr. Chang Chu Fai, Johnson Francis, Mr. Alan Stephen Jones and Mr. Robert Moyse Willcocks

* For identification purpose only

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