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Avino Announces Q3 2021 Production Results

Press Release

October 15, 2021

Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE, “Avino” or “the Company”) reports that production of 285,464 silver equivalent ounces*, consisting of 77,935 ounces of silver, 1,183 ounces of gold, and 685,535 pounds of copper, was achieved in the third quarter 2021 from its Avino Mine property near Durango, Mexico.

“We are very pleased to announce our third quarter production results which followed a period of operational closure,” said David Wolfin, President and CEO of Avino. “The entire Avino team worked tremendously hard to assist in the resumption of operations in August, and successfully achieve production for the quarter. Moving forward, we aim to steadily increase production to reach the levels established prior to the closure.  I am also thrilled that training programs are ongoing at the mine as we look to further build a local workforce.”

2021 Third Quarter Highlights

  • Avino Mine successfully recommenced operations:  Underground mining operations are now hauling between 1,000 and 1,500 tpd to surface on a daily basis, with the mill operating at a similar capacity. The Company is working towards achieving pre-shutdown levels of mine and mill production. Current plant capacity remains at 2,500 tpd.
  • Increase in overall feed grades from the Avino Mine: Silver, gold and copper grades increased by 16%, 138% and 18%, respectively, compared to the last quarterly production period of Q2 2020.
  • Increase in copper recovery rates from the Avino Mine: Copper recovery rose to 94% from 90%, and metal grades across the board where higher when compared to the last quarterly production period of Q2 2020.

During Q3 2021 production came primarily from the Avino Mine. The Company is currently mining and milling from the Avino Mine only. As part of the ramp-up of operations 10,806 tonnes of Historic Above Ground stockpile material having been processed during Q3 2021. Production from this material totaled 15,784 silver equivalent ounces, consisting of 9,336 ounces of silver, 58 ounces of gold, and 12,584 pounds of copper, and there was no comparable production from Q2 2020.

Avino Production Highlights for Q3 2021 (Compared to Q2 2020 – most recent quarter of production)

  • Silver equivalent production increased 70% to 269,680 ounces*
  • Copper production increased by 46% to 672,951 lbs
  • Silver production increased by 36% to 68,599 oz
  • Gold production increased by 179% to 1,125 oz

*In Q3 2021, AgEq was calculated using metals prices of $24.36 oz Ag, $1,790 oz Au and $4.25 lb Cu. In Q2 2020, AgEq was calculated using metals prices of $16.38 oz Ag, $1,707 oz Au and $2.45 lb Cu. Calculated figures may not add up due to rounding.

Consolidated Production Tables

Q3 2021
Production by Mine Tonnes Processed Silver
Oz
Gold
Oz
Copper
Lbs
AgEq
Avino 47,452 68,599 1,125 672,951 269,680
Historic Above Ground Stockpiles 10,806 9,336 58 12,584 15,784
Consolidated 58,258 77,935 1,183 685,535 285,464
YTD 2021
Production by Mine Tonnes Processed Silver
Oz
Gold
Oz
Copper
Lbs
AgEq
Avino 50,985 72,102 1,171 727,994 285,157
Historic Above Ground Stockpiles 10,806 9,336 58 12,584 15,784
Consolidated 61,791 81,438 1,229 740,578 300,941
Q3 2021
Grade & Recovery by Mine Grade
Ag g/t
Grade
Au g/t
Grade
Cu %
Recovery
Ag %
Recovery
Au %
Recovery
Cu %
Avino 50 0.95 0.68 90% 77% 94%
Historic Above Ground Stockpiles 41 0.26 0.12 65% 63% 45%
Consolidated 48 0.83 0.58 86% 75% 85%
YTD 2021
Grade & Recovery by Mine Grade
Ag g/t
Grade
Au g/t
Grade
Cu %
Recovery
Ag %
Recovery
Au %
Recovery
Cu %
Avino 49 0.92 0.69 90% 78% 94%
Historic Above Ground Stockpiles 41 0.26 0.12 65% 63% 45%
Consolidated 48 0.81 0.59 86% 75% 85%

Avino Mine Production Highlights1

Q3
2021
Q2
20202
Quarterly
Change
YTD
2021
Total Mill Feed (dry tonnes) 47,452 40,190 18% 50,985
Feed Grade Silver (g/t) 50 43 16% 49
Feed Grade Gold (g/t) 0.95 0.40 138% 0.92
Feed Grade Copper (%) 0.68 0.58 18% 0.69
Recovery Silver (%) 90% 90% -% 90%
Recovery Gold (%) 77% 79% -2% 78%
Recovery Copper (%) 94% 90% 5% 94%
Total Silver Produced (oz) 68,599 50,581 36% 72,102
Total Gold Produced (oz) 1,125 404 179% 1,171
Total Copper Produced (Lbs) 672,951 459,767 46% 727,994
Total Silver Equivalent Produced (oz)3 269,680 158,286 70% 285,157

110,806 tonnes of historic above ground stockpiles were processed during Q3 2021 as part of the ramp-up of operations. Production from this material totaled 15,784 silver equivalent ounces, consisting of 9,336 ounces of silver, 58 ounces of gold, and 12,584 pounds of copper, and there was no comparable production from Q2 2020.

2Q2 2020 was the most recent quarter of consolidated production and is most appropriate for comparison purposes.

3In Q3 2021, AgEq was calculated using metals prices of $24.36 oz Ag, $1,790 oz Au and $4.25 lb Cu. In Q2 2020, AgEq was calculated using metals prices of $16.38 oz Ag, $1,707 oz Au and $2.45 lb Cu. Calculated figures may not add up due to rounding.

Exploration and Operational Update

Exploration:

At the end of September, a total of 12,179 metres of drilling has been completed at the Avino property. The main areas for the third quarter of exploration include the Oxide Tailings, the area below current mining operations at Avino, as well as the highly prospective area of La Potosina.

Assay results are pending due to long turn around times at the laboratories and will be released once received and interpreted.

Operations:

The Company has been training a local workforce at the mine as it endeavours to support nearby towns and strengthen the collaboration between the surrounding communities and the Company.  As a major employer in the area, it is important that there is a steady group of trained mine workers available as we ramp up production. The training programs are aimed at increasing inclusion and diversity, as well as fostering opportunities for both women and men. With this objective in mind, the Company is pleased to have trained its first female scooptram operator.

Quality Assurance/Quality Control

Mill assays are performed at the Avino property’s on-site lab. Check samples are sent to SGS Labs in Durango, Mexico for verification. Gold and silver assays are performed by the fire assay method with the gravimetric finish for the concentrates and the AAS methods for copper, lead, zinc and silver for the feed and tail grade samples. All concentrate shipments are assayed by one of the following independent third-party labs: AHK, Inspectorate in the UK and LSI in the Netherlands.

Qualified Person(s)

Peter Latta, P.Eng, MBA, VP Technical Services, Avino who is a qualified person within the context of National Instrument 43-101 has reviewed and approved the technical data in this news release.

About Avino

Avino is primarily a silver producer from its wholly owned Avino Mine near Durango, Mexico. The Company’s silver and gold production remains unhedged. The Company’s mission and strategy is to create shareholder value through organic growth at the historic Avino Property and the strategic acquisition of mineral exploration and mining properties. We are committed to managing all business activities in a safe, environmentally responsible, and cost-effective manner, while contributing to the well-being of the communities in which we operate. We encourage you to connect with us on Twitter at @Avino_ASM and on LinkedIn at Avino Silver & Gold Mines.

ON BEHALF OF THE BOARD

“David Wolfin”
David Wolfin
President & Chief Executive Officer

IBF4

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