China and Poland: Central Banks Are Boosting Their Gold Reserves

Advertisement – On behalf of Fury Gold Mines Limited and Banyan Gold Corp. SRC swiss resource capital AG has fee-based, non-performance-based investor relations consulting agreements with both companies. Prepared by: SRC swiss resource capital AG · Author: Ingrid Heinritzi · First published: October 17, 26, 10:55 a.m. Berlin/Zurich.

Dear Readers,

According to the World Gold Council, central banks worldwide purchased a net total of 39 metric tons of gold in August 2026. China increased its reserves by approximately 20 metric tons, continuing its buying spree that had lasted 22 months at that time. The latest September data suggest that this strategy will continue.

According to the World Gold Council, Poland’s National Bank purchased eight metric tons of gold in August, bringing its total purchases since the beginning of the year to around 98 metric tons. As a result, its reserves are approaching the target of 700 metric tons.

Not all central banks were buyers: Russia reported net sales of six metric tons in August, for a total of 56 metric tons since the beginning of the year. The reasons for this cannot be deduced from the changes in holdings alone. These contrasting trends underscore the fact that gold reserves are shaped by varying monetary policy and institutional decisions.

Banyan Gold Prepares Initial Feasibility Study

Banyan Gold - https://www.commodity-tv.com/ondemand/companies/profil/banyan-gold-corp/ - is developing the AurMac gold project in Canada’s Yukon Territory and is also exploring the Nitra project. The projects are at different stages of development. For AurMac, Banyan aims to complete an initial preliminary economic assessment (PEA) in the fourth quarter of 2026. At AurMac, Banyan reported on October 6 that drill hole AX-26-942 returned 1.88 g/t gold over 17.9 meters starting at a depth of 27.2 meters. A completed private placement on September 29 raised CAD 54.3 million gross.

Fury Gold Mines is working at Eau Claire

Fury Gold Mines - https://www.commodity-tv.com/ondemand/companies/profil/fury-gold-mines-ltd/ - is developing the Eau Claire gold project in Québec and holds additional exploration properties. The drilling program is specifically intended to upgrade inferred mineral resources to higher confidence categories. A pre-feasibility study is targeted for 2027.

In drill hole 26EC-125, Fury reported 14.41 g/t gold over 3.92 meters. The Phase 2 program calls for approximately 15,000 to 25,000 meters of drilling. Additional technical studies, financing, and regulatory approvals remain necessary for further development.

Conclusion: Banyan Gold and Fury Gold Mines on Track for Milestones

Continued gold purchases by several central banks are supporting interest in the precious metal. At Banyan, the focus is on the first PEA and further drilling; at Fury, the focus is on the resource upgrade and the planned pre-feasibility study. Financing and implementation remain crucial.

Current company information and press releases: Banyan Gold  https://www.resource-capital.ch/de/unternehmen/banyan-gold-corp/  and Fury Gold Mines https://www.resource-capital.ch/de/unternehmen/fury-gold-mines-ltd/ .

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,
Marc Ollinger
Swiss Resource Capital AG

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Sources: World Gold Council, October 6, 2026: https://www.gold.org/goldhub/gold-focus/2026/10/central-bank-gold-statistics-central-banks-continue-summer-spree-august · Banyan, September 29, 2026: https://banyangold.com/news-releases/banyan-gold-closes-54-3-million-financing/ · Banyan, October 6, 2026: https://banyangold.com/news-releases/banyan-gold-intersects-1-88-g-t-gold-over-17-9-metres-in-the-gap-between-airstrip-and-powerline-and-identifies-high-grade-gold-in-airstrip-footwall-at-aurmac-yukon-canada/ · Fury, August 25, 2026: https://furygoldmines.com/fury-reports-infill-drill-results-returns-high-grade-at-eau-claire-including-14-41-g-t-over-3-92-metres/

Intro image: https://furygoldmines.com/news-media/photo-gallery/

Transparency and Conflicts of Interest

Prepared and published by: SRC swiss resource capital AG, Poststrasse 1, 9100 Herisau, Switzerland. Responsible under § 18(2) MStV: Marc Ollinger, CEO, Poststrasse 1, 9100 Herisau, Switzerland. Issuers: Fury Gold Mines Limited (TSX/NYSE American: FURY) and Banyan Gold Corp. (TSXV: BYN). The paid investor relations contracts create a financial incentive to present the companies in a positive light. As of October 16, 2026: Neither the author, Ingrid Heinritzi, nor SRC holds any shares, options, long/short certificates, or other derivatives of the issuers mentioned. Neither Fury Gold Mines nor Banyan Gold holds a 5 percent or greater stake in SRC. Preliminary Review: The companies did not receive the article for review and approval prior to publication.

Methodology and Risks

Date of publication: October 16, 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. QP for the Fury drilling announcement: Valérie Doyon, P.Geo., VP of Geology, employed by the company. Studies and timelines are contingent upon financing, permits, technical implementation, and economically viable results. Exploration, geological, metallurgical, construction, environmental, permitting, 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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Paid marketing communication; not an independent financial analysis, individual investment advice, or solicitation to buy; not an offer of securities. Personal investment circumstances are not reviewed. No guarantee of accuracy, completeness, or timeliness. Liability is excluded only to the extent permitted by law; exceptions include willful misconduct, gross negligence, injury to life, limb, or health, mandatory liability, and breaches of material obligations. In the event of a breach of material contractual obligations due to slight negligence, liability is limited to foreseeable damages typical for this type of contract. The operators of external websites are responsible for their content; their own legal liability remains unaffected. AI was used for research and processing. Editorial responsibility and final human review remain with SRC. © 2026 SRC. Redistribution requires consent or legal authorization.