About PERSISTENCE RES Company

Jihai Resources Group Co., Ltd. (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 (registered in the British Virgin Islands). , Majestic Yantai BVI owns 75% of Yantai Zhongjia's shares, and the other 25% of Yantai Zhongjia's shares are owned by Yantai Dahedong Mineral Processing Co., Ltd. (“Yantai Dahedong”). The company's Songjiagou open pit mine was officially put into commercial operation in May 2011, and the Songjiagou underground mine under the company was officially put into commercial operation in September 2019. The company is committed to achieving long-term sustainable growth, continuously improving our operating 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 greatly expand the scale of our mining business and gold concentrate processing business and increase our gold reserves, thereby consolidating our leading position in the Shandong industry.