Central Bankers in Sorrento: The Case for Gold Remains Strong

Third-Party Recommendation (Art. 8 DelVO 2016/958): Unaltered republication of a promotional article created by a third party · Original author: SRC swiss resource capital AG · Date of first publication (original): October 10, 2026, 11:20 a.m. Berlin/Zurich · Link to the original publication 

Advertisement – On behalf of Amex Gold Mining Inc. and Axo Metals Corp. SRC swiss resource capital AG has fee-based, non-performance-based investor relations consulting agreements with both companies · Producer: SRC swiss resource capital AG · Author: Ingrid Heinritzi · First published: October 10, 2026, 9:30 a.m. Berlin/Zurich ·

Central Bankers Give Gold a Boost

Dear Readers,

At the LBMA conference in Sorrento on October 5, Sergio Nicoletti Altimari, Deputy Governor of the Banca d’Italia, emphasized gold’s role in times of crisis. Bundesbank President Joachim Nagel pointed to the credit risk posed by high levels of government debt: Despite rising bond yields, the case for further diversification into gold remains strong. Physical gold held domestically is not as vulnerable to sanctions and asset freezes as foreign securities and deposits.

In the WGC survey published in June, which included a total of 76 central banks, 45 percent expect their own gold reserves to increase within twelve months, up from 43 percent the previous year. More than four-fifths expect a higher global share of gold within five years. The number of responses varies by question.

Amex Gold Mining Brings Perron Closer to Large-Scale Production

Amex Gold Mining - https://www.commodity-tv.com/ondemand/companies/profil/amex-exploration-inc/ - is developing the Perron gold project in Québec, which it owns entirely. The Phase 1 feasibility study from April 2026 reports 774,000 ounces of proven and probable gold reserves at 12.1 g/t. It projects an average annual production of approximately 147,000 ounces over five years of commercial operation, with processing at third-party facilities.

The 40,000-metric-ton bulk sampling program has been approved. As of September 21, more than 75 meters of the ramp had been driven. The new Rosé zone below the ramp offers additional exploration potential but does not yet have a defined resource. Bulk sampling is planned for 2027, and Phase 1 production for 2028.

Axo Metals Reports High-Grade Gold Intervals

Axo Metals - https://www.commodity-tv.com/ondemand/companies/profil/axo-metals-corp/ - acquired Sapuchi Minera, including the San Antonio project in Sonora, in January 2026. According to the company, the project comprises 576,000 ounces of indicated and 544,000 ounces of inferred gold resources. Resources are not reserves; their economic viability has therefore not been proven.

Drill hole SOSAP-26-039 returned 8.15 g/t gold over 18 meters, between drill meters 18 and 36. This refers to the length of the drill hole, not a confirmed true thickness. According to the company, SEMARNAT approved the environmental impact statement in July; at that time, Axo expected the supplementary land-use permit for certain deposits by the end of the year. The La Huerta copper project complements the portfolio.

Conclusion: Amex Gold Mining and Axo Metals on the Verge of Milestones

Gold’s strategic role is creating a positive market environment. For Amex, the key factors are the large-scale sample and Phase 1 approval; for Axo, further drilling and the land-use permit.

Current company information and press releases: Amex Gold Mining  https://www.resource-capital.ch/de/unternehmen/amex-gold-mining-inc/ and Axo Metals https://www.resource-capital.ch/de/unternehmen/axo-metals-corp/.

For further information, see our Precious Metals Report: https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2026-03/

Best of luck and warm regards from Switzerland,
Yours,
Marc Ollinger
Swiss Resource Capital AG

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Sources: Bundesbank and Banca d’Italia, Oct. 5, 2026 · Altimari Speech · WGC Report, June 16, 2026 · WGC Press Release · Amex Study, April 13, 2026 · Amex Rosé, Sept. 10, 2026 · Amex Development, September 21, 2026 · Amex Timeline, March 12, 2026 · Axo Acquisition, January 27, 2026 · Axo Approvals, July 27, 2026 · Axo Drilling, September 14, 2026

Source of intro image: https://amexgoldmining.com/investors/corporate-presentation

Transparency and Conflicts of Interest

Prepared and Published by: SRC swiss resource capital AG, Poststrasse 1, 9100 Herisau, Switzerland. Responsible under Section 18(2) of the German Media Services State Treaty (MStV): Marc Ollinger, CEO of Swiss Resource Capital AG, Poststrasse 1, Herisau, Switzerland. Issuers: Amex Gold Mining Inc. (TSXV: AMX; ISIN: CA03114D1087) and Axo Metals Corp. (TSXV: AXO; ISIN: CA05465W1068). The paid IR contracts give rise to a financial interest in a positive portrayal. As of October 8, 2026: Neither the author nor SRC swiss resource capital AG nor any of its affiliated companies hold shares, options, warrants, certificates, derivatives, or other long/short positions in securities of the aforementioned issuers. Future purchases or sales are possible. None of the issuers holds a 5% or greater stake in SRC swiss resource capital AG. The issuers did not receive the article prior to publication.

Methodology and Risks

Date of publication: October 8, 2026. Public sources have been cross-checked; company information has not been independently verified. No independent review of drilling data, resource estimates, feasibility studies, or company valuations was conducted. QPs for the original press releases: Axo – Charles Spath, P.Geo., not independent; Amex – Aaron Stone, P.Geo., VP Exploration; Rosé additionally Jérôme Augustin, P.Geo., independent. This does not constitute an endorsement of this article. Studies and timelines are contingent upon, among other things, financing, permits, and processing capacity. Exploration, geological, metallurgical, construction, environmental, jurisdictional, dilution, gold price, and currency risks may significantly alter results and lead to a total loss. No routine updates are planned; statutory obligations remain unaffected.

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