About PERSISTENCE RES Company

Jihai Resources Group Limited (hereinafter referred to as “Jihai” or the “Company”) was incorporated in the Cayman Islands on May 21, 2019. The Company established Yantai Zhongjia Mining Co., Ltd. (“Yantai Zhongjia”) in Yantai, Shandong Province, China through its wholly-owned subsidiary Majestic Yantai BVI (incorporated in the British Virgin Islands). Majestic Yantai BVI owns 75% of Yantai Zhongjia's shares, and Yantai Zhongjia's other 25% shares are owned by Yantai Dahedong Mineral Processing Co., Ltd. (“Yantai Dahedong”). The company's Songjiagou open pit mine was officially commercialized and put into operation in May 2011, and the Songjiagou underground mine owned by the company was officially put into commercial operation in September 2019. The company is committed to achieving long-term sustainable growth, continuously improving our operational efficiency and exploring future growth opportunities. While further developing our existing assets, we are continuously seeking to acquire mining assets with high investment value in China to significantly expand the scale of our mining business and gold concentrate processing business and increase our gold reserves, thus consolidating our leading position in the industry in Shandong Province.