Avino Silver & Gold Mines Ltd. (ASM: TSX-V, ASM: NYSE American, GV6: FSE, "Avino" or "the Company") is pleased to announce the consolidated financial results for the Company's third quarter ended September 30, 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.

Effective January 1, 2017, the Company changed its presentation currency to US dollars from Canadian dollars. As a result, all dollar amounts in this news release are expressed in US dollars, unless otherwise noted.

"We have achieved another productive quarter with solid operational and financial results, and are confident that the Company will achieve our internal projected production target for the year. Our mission is to achieve shareholder value by focusing on organic growth which includes our expansion plans at the Avino mine in Mexico, with the addition of Mill Circuit 4, now approximately 75% complete. Additionally, we have drills turning at Avino, and a planned surface and underground drill program at the Bralorne Mine in British Columbia. The support and dedication of our teams in Mexico and Canada are greatly appreciated and instrumental to the success of our operations."

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

THIRD QUARTER 2017 HIGHLIGHTS - IN $USD •Revenues of $8.4 million from the sale of concentrates
•Mine operating income of $2.1 million
•Net loss after taxes of $0.7 million or $(0.01) per share
•Working capital of $20.2 million, an increase of 9% from the third quarter of 2016
•Cash of $3.8 million and short term investments of $4.0 million at the end of the quarter
•Produced 760,756 silver equivalent ounces1, including 368,456 ounces of silver, 2,673 ounces of gold and 1,106,305 pounds of copper
•Consolidated all-in sustaining cost ("AISC")2 was $11.25 per payable silver equivalent ounce
•Average realized selling prices for silver and gold were US$16.81 and US$1,281 per ounce, respectively, and copper was US$6,292 per tonne
Overall Performance and Highlights


HIGHLIGHTS
(Expressed in US$) Third Quarter 2017 Third Quarter 2016 Change
Operating
Tonnes Milled 138,200 138,031 0%
Silver Ounces Produced 368,456 410,908 -10%
Gold Ounces Produced 2,673 1,813 47%
Copper Pounds Produced 1,106,305 1,045,091 6%
Silver Equivalent Ounces1 Produced 760,756 649,831 17%
Concentrate Sales and Cash Costs
Silver Equivalent Ounces Sold1,2 582,303 608,795 -4%
Cash Cost per Silver Equivalent Ounce2,3 $ 9.74 $ 8.30 17%
All-in Sustaining Cost per Silver Equivalent Ounce2,3 $ 11.25 $ 10.60 6%
Average Realized Silver Price per Ounce $ 16.81 $ 19.49 -14%
Average Realized Gold Price per Ounce $ 1,281 $ 1,328 -4%
Average Realized Copper Price per Tonne $ 6,292 $ 4,804 31%
Financial
Revenues $ 8,435,743 $ 10,035,932 -16%
Mine Operating Income $ 2,077,644 $ 4,501,114 -54%
Net Income (Loss) $ (715,774) $ 847,263 -184%
Cash $ 3,758,731 $ 11,365,451 -67%
Working Capital $ 20,180,364 $ 18,558,511 9%
Shareholders
Earnings (Loss) per Share ("EPS") - Basic $ (0.01) $ 0.02 N/A
Cash Flow per Share (YTD)3 - Basic $ 0.09 $ 0.10 -10%

1.*For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $17.45 oz Ag, $1,316 oz Au and $2.99 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.
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 $8.4 million during the third quarter of 2017; a 16% decrease compared to the third quarter of 2016. The decrease is a result of lower realized silver prices during the period compared to the third quarter of 2016.

Mine operating income was $2.1 million during the third quarter of 2017, which is a decrease of 54% from the comparable quarter of 2016. The decrease is mainly due to increased non-cash costs, such as depreciation and depletion at the San Gonzalo Mine.

During the third quarter of 2017, a net loss of $0.7 million or $(0.01) loss per share was realized compared to net income of $0.8 million or a $0.02 per share during the corresponding period of 2016. The decrease is mainly due to lower realized silver and gold prices and non cash expenses such as share based payments and depreciation and depletion expense.

Operational Results

Silver equivalent production for the third quarter of 2017 increased by 17% to 760,756 oz1 compared to 649,831 oz1 in the third quarter of 2016. Silver production for the third quarter of 2017 decreased 10% to 368,456 oz compared to 410,908 oz in the third quarter of 2016. Gold production for the third quarter of 2017 increased by 47% to 2,673 oz compared to 1,813 oz in the corresponding period of 2016. Copper production increased by 6% to 1,106,305 lbs compared to 1,045,091 lbs in the third quarter of 2016. Total mill feed processed during the third quarter of 2017 was 138,200 dry tonnes compared to 138,031 dry tonnes during the third quarter of 2016, an increase of 4%.

At the Avino Mine, silver equivalent ounces1 produced during the third quarter of 2017 totalled 542,846 compared to 396,397 during the third quarter of 2016, an increase of 37%. The higher production in silver equivalent ounces¹ is due to the higher production ounces in the gold and copper.

At the San Gonzalo Mine, silver equivalent ounces1 produced during the third quarter of 2017 totalled 217,910 representing a decrease of 14% compared to 253,434 in the third quarter of 2016 mainly due to the lower tonnage processed.

Costs and Capital Expenditures

Consolidated all-in sustaining cash costs per silver equivalent ounce1 during the third quarter of 2017 were $11.25 compared to $10.60 during the corresponding period of 2016, an increase of 6%.

All-in sustaining cash costs at San Gonzalo during the third quarter of 2017 were $12.91 per silver equivalent ounce1 compared to $8.66 during the third quarter of 2016, an increase of 49%. All-in sustaining cash costs at Avino during the third quarter of 2017 were $10.76, compared to $11.34 during the third quarter of 2016, a decrease of 5%.

Capital expenditures during the nine months ended September 30, 2017, were $8,717,491 compared to $9,933,504 for the corresponding period of 2016.

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

Bralorne Mine Update

On November 3, the Company received an approved Permit Amendment from the MEM (The Ministry of Energy, Mines and Petroleum Resources). The Permit Amendment provides a comprehensive and responsible permit which is an important step in the Company's strategic plan to re-open the Bralorne Gold Mine. With the receipt of this modern permit the Company anticipates an easier and quicker transition to an amended permit that will allow for future expansion.

A surface and underground drill program is now being planned to update and increase the confidence in the resource base.

We continued to review strategic operating plans, and on July 10, 2017, we published a comprehensive news release outlining our plans which can be found on our website at the following link: http://www.avino.com/i/pdf/nr/2017-07-10_NR.pdf. Our proposed plan involves opening the mine at a higher throughput rather than our original plans to scale up the operations to reach the desired throughput level.

Shares Sold through the ATM Offering

Further to the Company's press release dated August 4, 2017, the Company has placed through its US agent, Cantor Fitzgerald & Co. (the "Agent") a total of 10,000 common shares at an average price of US$1.6737 per share during its recent third quarter ending September 30, 2017, and commencing from the effective date of the Prospectus Supplement dated August 4, 2017 (the "Prospectus Supplement"), filed for the Company's at-the-market offering in the United States ("ATM Offering"). Gross proceeds of US$16,737 were raised.

The Prospectus Supplement was filed in the US pursuant to the terms of the Company's registration statement on Form 10 (SEC File No. 333-214396) (the "Registration Statement"), and in each Province of Canada, except Quebec, pursuant to the base shelf prospectus dated November 10, 2016 (the "Base Shelf Prospectus"). The Prospectus Supplement, Registration Statement, and Base Shelf Prospectus can be viewed under the Company's profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

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 for analysts and investors on Thursday, November 9, 2017, at 8:00 am Pacific Standard Time (11:00 am Eastern Standard Time).