Avino Silver & Gold Mines Ltd. (ASM: TSX-V, ASM: NYSE-MKT, GV6: FSE, "Avino" or "the Company") is pleased to announce the consolidated financial results for the Company's first quarter ended March 31, 2017. The financial statements and the management discussion and analysis can be viewed on the Company's web site at www.avino.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

"We are pleased to commence reporting in USD, which will better reflect the Company's business activities and will, therefore, improve investors' ability to compare the Company's financial results with other publicly traded mining companies. Our Q1 results reflect improvements in revenues, operating income, and net income. We remain focused on our objectives which include our expansion plans announced in January that are progressing very well, and we are confident that the implementation of these important plans will continue to support the company's growth efforts. We experienced lower production and development numbers in the first quarter compared to the same period last year, except gold production, which increased by 23%. While the results are lower, due to lower grade material being mined, we are confident that the company will achieve another solid year. Our team continually looks to improve efficiencies, and we are very appreciative of their support and dedication. Other key achievements for the quarter included the commencement of the work required for the expansion of Mill Circuit #4, the receipt of a positive Preliminary Economic Assessment of the Oxide Tailings at the Avino mine, and a review of possible alternatives to the Tailings Storage Facility."

- David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd

FIRST QUARTER 2017 HIGHLIGHTS - IN $USD
•Generated revenues of $8.1 million from the sale of concentrates, a 306% increase from the first quarter of 2016 due to the commencement of production mining at the Avino mine during the second quarter of 2016
•Mine operating income of $3.5 million, a 168% increase compared to the first quarter of 2016
•Net income after taxes of $0.7 million or $0.01 per share
•Working capital of $21.1 million
•Net earnings of $1.1 million
•Produced 604,643 silver equivalent ounces1, including 320,082 ounces of silver, 1,837 ounces of gold and 1,024,853 pounds of copper
•Consolidated all-in sustaining cost ("AISC")2 was $9.55 per payable silver equivalent ounce, a 16% increase compared to $8.22 per ounce in the first quarter of 2016
•Average realized selling prices for silver and gold were US$17.38 and US$1,218 per ounce, respectively
•Cash of $7.7 million and short term investments consisting of cash of $10 million was on hand at the end of the quarter

HIGHLIGHTS
First Quarter 2017 First Quarter 2016 Change
Operating
Tonnes Milled 136,686 140,116 -2%
Silver Ounces Produced 320,082 403,447 -21%
Gold Ounces Produced 1,837 1,497 23%
Copper Pounds Produced 1,024,853 1,350,912 -24%
Silver Equivalent Ounces1 Produced 604,643 715,933 -16%
Concentrate Sales and Cash Costs
Silver Equivalent Ounces Sold2 524,356 150,507 237%
Cash Cost per Silver Equivalent Ounce2,3 $ 8.01 $ 4.11 95%
All-in Sustaining Cost per Silver Equivalent Ounce2,3 $ 9.55 $ 8.22 16%
Average Realized Silver Price per Ounce $ 17.38 $ 16.42 6%
Average Realized Gold Price per Ounce $ 1,218 $ 1,194 2%
Average Realized Copper Price per Tonne $ 5,873 - -%
Financial
Revenues $ 8,127,863 $ 2,002,728 306%
Mine Operating Income $ 3,460,843 $ 1,291,889 168%
Net Income (Loss) $ 721,305 $ 42,246 1,607%
Cash $ 7,654,982 $ 4,637,163 65%
Working Capital $ 21,133,853 $ 2,900,349 629%
Shareholders
Earnings (Loss) per Share ("EPS") -- Basic $ 0.01 $ 0.00 100%
Cash Flow per Share (YTD)3 $ 0.04 $ 0.02 100%
1. For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $17.42 oz Ag, $1,220 oz Au and $2.63 Lb Cu. Mill production figures have not been reconciled and are subject to adjustment with concentrate sales. Calculated figures may not add up due to rounding.
Metal production is expressed in terms of silver equivalent ounces, (oz Ag Eq), the formula for which depends on the copper, gold and silver metal prices used in each period and hence are only indicative.

2. "Silver equivalent ounces sold" for the purposes of cash costs and all-in sustaining costs consists of the sum of silver ounces, gold ounces and copper tonnes sold multiplied by the ratio of the average spot gold and copper prices to the average spot silver price for the corresponding period.

3. The Company reports non-IFRS measures which include cash cost per silver equivalent ounce, all-in sustaining cash cost per ounce, and cash flow per share. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning and the calculation methods may differ from methods used by other companies with similar reported measures.

Financial Results

The Company generated revenues of $8.1 million during the first quarter of 2017; a 306% increase compared to the first quarter of 2016. The increase is a result of the commencement of production mining at the Avino Mine.
Mine operating income was $3.5 million during the first quarter of 2017, an increase of $2.2 million or 168% from $1.3 million in 2016. During the first quarter of 2017, net income increased by 1,607% to 0.7 million or $0.01 per share, compared to net income of $42 thousand or $0.00 basic and diluted per share during the corresponding period of 2016.

Operational Results

Silver equivalent production for the first quarter of 2017 decreased by 16% to 604,643 oz1 compared to 715,933 oz1 in the first quarter of 2016. Silver production for the first quarter of 2017 decreased 21% to 320,082 oz compared to 403,447 oz in the first quarter of 2016. Gold production for the first quarter of 2017 increased by 23% to 1,837 oz compared to 1,497 oz in the corresponding period of 2016. Copper production decreased by 24% to 1,024,853 lbs compared to 1,350,912 lbs in the first quarter of 2016. Total mill feed processed during the first quarter of 2017 was 136,686 dry tonnes compared to 140,116 dry tonnes during the first quarter of 2016, a decrease of 2%.

At the Avino Mine, silver equivalent ounces1 produced during the first quarter of 2017 totalled 439,163 compared to 474,206 during the first quarter of 2016, a decrease of 7%. The lower production is due to the lower grade material being mined.

At the San Gonzalo Mine, silver equivalent ounces1 produced during the first quarter of 2017 totalled 165,480 representing a decrease of 32% compared to 241,727 in the first quarter of 2016.

Costs and Capital Expenditures

Consolidated all-in sustaining cash costs per AgEq ounce1 during the first quarter of 2017 were $9.55 compared to $8.22 during the corresponding period of 2016, an increase of 16%.

All-in sustaining cash costs at San Gonzalo during the first quarter of 2017 were $6.21 per AgEq ounce1 compared to $8.22 during the first quarter of 2016, a decrease of 24%. All-in sustaining cash costs at Avino during the first quarter of 2017 were $10.81, with no comparable available as production mining commenced as of April 1, 2016.

Capital expenditures during the three months ended March 31, 2017, were $1,965,198 compared to $946,217 for the corresponding period of 2016 (net of concentrate proceeds of $4,294,464).

Capital expenditures relate to the Avino mine advancement (including Mill Circuit #4) and mining and production equipment to advance operations at the San Gonzalo, Avino, and Bralorne mines.

Bralorne Mine Update

During the first quarter of 2017, the Company continued to develop and review strategic operating plans to achieve a profitable operation at Bralorne. The mine plan includes changing the mining method to long hole mining, which is considered safer and less labour intensive than previous methods employed, and is expected to support a higher production rate. Engineering is in progress to expand the mill and to upgrade the surface infrastructure for a larger operation. Work in the mill during the quarter was focused on demolishing the old ore and waste bins plus the removal of all of the old crushing equipment to create room for new larger components.

In February 2017, Bralorne, in conjunction with North Island College, the B.C. Government and First Nations completed a second educational cohort to provide basic mining training for members of the St'at'imc First Nation in Lillooet. Bralorne provided support and access to the mine site for hands-on training. To date, 22 students have graduated from the program, two of whom are now full time employees.

Non-IFRS Measures

The financial results in this news release include references to cash flow per share, cash cost per silver equivalent ounce, and all-in sustaining cash cost per silver equivalent ounce, all of which are non-IFRS measures. Cash flow per share, cash cost per ounce, and all-in sustaining cash cost per ounce are measures developed by mining companies in an effort to provide a comparable standard of performance. However, there can be no assurance that our reporting of these non-IFRS measures is similar to that reported by other mining companies. Cash flow per share, cash cost per silver equivalent ounce, and all-in sustaining cash cost per silver equivalent ounce are measures used by the Company to manage and evaluate operating performance of the Company's mining operations, and are widely reported in the silver and gold mining industry as benchmarks for performance, but do not have standardized meanings prescribed by IFRS, and are disclosed in addition to the prescribed IFRS measures provided in the Company's financial statements and MD&A.

Conference Call

Avino will be holding a conference call on May 11, 2017 at 8:00 am Pacific Daylight Time (11:00 am Eastern Daylight Time).