Persistence Resources Group Ltd (“Persistence” or the “Company”) was incorporated in the Cayman Islands on 21 May 2019. Persistence through its wholly-owned subsidiary – Majestic Yantai Gold Ltd. (BVI) (“Majestic Yantai BVI”)has established Yantai Zhongjia Mining Co. Ltd. (“Yantai Zhongjia”) in Yantai city of Shandong Province, China. Majestic Yantai BVI owns 75% of Yantai Zhongjia and other 25% of Yantai Zhongjia is owned by Yantai City Dahedong Mineral Processing Co. Ltd. (“Yantai Dahedong”).

The Company’s Songjiagou Open-Pit Mine was put into commercial production in May 2011. The Company’s Songjiagou Underground Mine was put into commercial production in September 2019.

The Company strives to achieve sustainable growth to strengthen our leading position in the Shandong Province by exploiting our operational efficiencies and growth opportunities, further developing our existing assets and acquiring value-accretive assets in the PRC to substantially scale up our mining operations, gold concentrate processing operations and increase our gold reserves.