Avino Silver & Gold Mines Ltd. (TSX: ASM) (NYSE: ASM) (FSE: GV6) reports another quarter of strong production results of 678,247 silver equivalent ounces, bringing the 12-month trailing total to 2.9 million silver equivalent ounces from the Avino Mine.

Production Highlights – Q1 2023 (Compared to Q1 2022)

• Silver equivalent production increased 48% to 678,247 oz
• Silver production increased 43% to 234,338 oz
• Copper production increased 15% to 1.4 million lbs
• Gold production increased 185% to 2,286 oz
• Mill throughput increased by 44% to 159,757 tonnes, a further increase of 5% from Q4 2022

“The Avino Mine continued to provide consistent results in the first quarter of 2023, building on our successful 2022 production results,” said David Wolfin, President and CEO of Avino. “Our twelve-month trailing production of 2.9 million ounces reflects the tremendous achievements of our operations team in ensuring that Avino continues to meet and exceed our expectations. In addition, we continue to focus on executing our 5-year growth strategy to align with our goal of becoming an intermediate producer.”

2023 First Quarter Highlights

• Production at Avino Continues to Deliver: Silver equivalent production of 678,247 ounces is another consistent quarter and represents a 48% increase from Q1 2023. Production decreased when compared to Q3 and Q4 2022, primarily due to ore mining in a lower grade zone of the Avino Mine.
• Updated Mineral Resource Estimate including Integration of La Preciosa MRE and Inaugural MREs on the Guadalupe and La Potosina deposits: Together, Avino’s consolidated mineral resources total 368 million silver equivalent ounces. This recent update added a significant boost to the mineral resources at the Avino Property. The measured and indicated silver equivalent ounces increased by 38% to 161 million, silver ounces increased 35% to 70 million, copper tonnes increased 18% to 136.7 thousand, and gold increased 23% to 596,000 ounces.
• Metallurgical Testing Completed at the Oxide Tailings Project: On April 5, 2023, Avino announced metallurgical results from the testwork program that was completed and will form the basis of the metallurgical analysis in a Pre-Feasibility Study (“PFS) on the project. This Project has been in our portfolio for many years and factors prominently into our five-year growth plan to become an intermediate silver producer in Mexico. These results also build on the studies in the 2017 Preliminary Economic Assessment (“PEA”) and increase the level of confidence in the Project through the extensive testwork completed. In the recent update, The Oxide Tailings mineral resource was increased by 407% in the measured and indicated categories to total 5.7 million tonnes, and an increase of 287% to the silver equivalent ounces resulting in 17.4 million.
• Dry-Stack Tailings Facility Completed and Operational: The dry-stack tailings facility is now complete and fully operational. During the quarter, the conveyor system was installed and is currently transporting the pressed dry tailings to the Avino open pit area. The dry-stack facility was a top ESG priority and demonstrates a commitment to safety for the community and the environment. In addition, dry-stack tailings require a smaller footprint. A selection of short videos of the facility in operation can be viewed on our website under Videos and Media.
• Announced ET Area Drilling Results: On January 5, 2023, Avino announced drill results from 4 drill holes  at the Avino Elena Tolosa area below the current deepest workings at the mine. These drill results show the Avino Vein to extend a further 315 metres downdip. This exploration program was designed to test the continuity of the steeply dipping mineralization and to understand the genesis of the mineralization. As a result, the Avino Vein is now known to extend 800 metres deep downdip. Additionally, it appears that the Avino Vein is getting richer in copper as we go deeper with a grade of 1.63% copper over 16.66 metres in Hole ET 22. Geological modelling is ongoing to determine the potential geometry and controls of the mineralization. The 2023 drill program is underway with 8,000 metres planned.
• La Preciosa Update: The Company is conducting community engagement in the nearby towns adjacent to the property and will provide further updates as plans develop. Avino is fully committed to moving this project forward as it factors prominently in the Company’s 5-year growth strategy.

Quality Assurance/Quality Control

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

Qualified Person(s)

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

About Avino

Avino is a silver producer from its wholly owned Avino Mine near Durango, Mexico. The Company’s silver, gold and copper production remains unhedged. The Company’s mission and strategy is to create shareholder value through its focus on profitable organic growth at the historic Avino Property and the strategic acquisition of the La Preciosa property. Avino currently controls mineral resources, as per NI 43-101, that total 368 million silver equivalent ounces, within our district-scale land package. 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.