Avino Announces Q3 2019 Production Results

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Algemeen advies 16/10/2019 18:13
Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE, “Avino” or “the Company”) announces its third quarter 2019 production results from its Avino property near Durango, Mexico.

Consolidated Production Highlights for Q3, 2019 (Compared to Q3, 2018)
•Silver equivalent production decreased by 19% to 570,220 oz*
•Gold production decreased by 34% to 1,448 oz
•Silver production decreased by 34% to 221,928 oz
•Copper production increased by 39% to 1,381,924 lbs

* In Q3, 2019, AgEq was calculated using metals prices of $16.98 oz Ag, $1,472 oz Au and $2.63 lb Cu. In Q3, 2018, AgEq was calculated using metals prices of $15.00 oz Ag, $1,213 oz Au and $2.77 lb Cu. Calculated figures may not add up due to rounding.

The silver equivalent production in Q3, 2019 decreased by 19% compared to Q3, 2018. The decrease was due to the following reasons:
•Decreasing consolidated silver and gold feed grades that were offset slightly by higher mill throughput, copper feed grades at Avino, and increased consolidated recoveries
•Minor production interruptions as a result of delays due to heavy seasonal rain
•Processing continued using the remaining stockpiles from past production and development activities at San Gonzalo, which is lower grade.

The expectations are for higher production in Q4 2019 as we change our feed mix to focus more on the Elena Tolosa area of the Avino Mine.

“Our Q3 2019 production results, while lower compared to the same period in 2018, were in line with our internal expectations and output remained similar to the first two quarters of 2019. This quarter’s increase in throughput and recoveries are very encouraging and are attributed to the hard work and efforts by our team in Mexico,” said David Wolfin, Avino’s President and CEO. “In addition, we are pleased with the progression of the Open Pit tailings storage work, specifically the installation of the geomembrane, which is almost complete. The newly commissioned tailings thickener has transitioned to full operation and has reduced the water content sent to the tailings facility while similarly increasing the amount of water recycled back to the processing plant. During the 4th quarter and into 2020, we are looking forward to advancing our processing plant optimization initiatives and transitioning to full mining production in the Elena Tolosa area of the Avino Mine.”

Consolidated Production Tables
Q3 2019 Production by Mine
Tonnes Processed Silver Oz Gold Oz Copper Lbs AgEq
Avino 122,208 139,419 900 1,307,622 418,352
San Gonzalo 17,800 29,568 194 - 56,203
Historic Above Ground Stockpiles 62,656 52,941 354 74,302 95,665
Consolidated 202,664 221,928 1,448 1,381,924 570,220

YTD 2019 Production by Mine
Tonnes Processed Silver Oz Gold Oz Copper Lbs AgEq
Avino 319,837 356,626 2,797 3,269,687 1,160,595
San Gonzalo 53,271 149,265 555 - 208,184
Historic Above Ground Stockpiles 228,116 232,116 1,528 311,052 419,623
Consolidated 601,224 738,007 4,880 3,580,739 1,788,402

*During the three and nine months ended September 30, 2019, the Company produced 15,784 and 19,454 AgEq oz, respectively, of zinc by-product concentrate which has been included in the “San Gonzalo” production category above.

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