Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE, “Avino” or “the Company”) is pleased to report its second quarter 2022 production results from the Avino Mine property near Durango, Mexico.

“The second quarter was strong operationally, and better-than-expected results were driven by higher grades from the Avino Mine.” said David Wolfin, President and CEO of Avino. “With an unsettled market and ongoing global inflationary concerns, our positive Q2 performance is a testament to our operations and corporate teams in Mexico and Canada. We have been optimizing underground mining processes, growing and training a local workforce, and practicing sound financial responsibility. We believe that we have strong production growth coming over the next 5 years which should coincide with a strong demand for silver and other precious metals. Despite the current downturn in metal prices, our concentrate continues to be sold at profitable levels.”

Production Highlights - Q2 2022 (Compared to Q1 20221)

Silver equivalent production increased 42% to 649,569 oz*
Silver production increased by 37% to 225,537 oz
Copper production increased by 35% to 1.6 million lbs
Gold production increased by 69% to 1,350 oz
Mill throughput increased by 6% to 118,224 tonnes
Avino Mine Production – Three and Six Months Ended June 30, 2022 (compared to Q1 2022 & H2 20211)

Q2
2022 Q1
20221 Change1 H1
2022 H2
20211 Change1
118,224 111,138 6% Total Mill Feed (dry tonnes) 229,362 150,965 52%
65 50 30% Feed Grade Silver (g/t) 58 54 8%
0.46 0.29 57% Feed Grade Gold (g/t) 0.38 0.89 -58%
0.69 0.56 23% Feed Grade Copper (%) 0.63 0.59 6%
91% 92% -1% Recovery Silver (%) 91% 89% 3%
78% 77% 1% Recovery Gold (%) 77% 76% 2%
92% 89% 3% Recovery Copper (%) 90% 91% -1%
225,537 164,358 37% Total Silver Produced (oz) 389,895 232,532 68%
1,350 801 69% Total Gold Produced (oz) 2,151 3,283 -34%
1,644,342 1,217,349 35% Total Copper Produced (Lbs) 2,861,691 1,801,679 59%
649,569 457,798 42% Total Silver Equivalent Produced (oz)2 1,307,367 811,112 37%


2022 Second Quarter Highlights

Continued Drill Campaign on the Oxide Tailings Project: On April 7, 2022, and May 24, 2022, Avino announced results from a combined 127 holes that continue to highlight the potential to expand resources. With the upcoming metallurgical testwork, Avino is moving towards its goal of advancing this project to the next phase of development.
Announced ET Area Drilling Results: On June 13, 2022, Avino announced drill results from the Avino Elena Tolosa (“ET”) area below the current Level 17 mining area. These drill results confirmed the downdip continuity of widths and grades of the Avino vein extending significant potential to a depth of at least 290 metres down dip below current development. Avino is advancing geological modelling to determine the potential geometry and controls of the mineralization. A second drill has been added to this program to include a further 13 drill holes for 7,000 metres.
Announced Divesting of Non-Core Assets: On May 2, 2022, Avino announced that in line with its strategic plans to become an intermediate producer in Mexico, the Company granted an option to Endurance Gold Corp. the right to acquire an option to earn 100% ownership of the former Minto Gold Mine, Olympic and Kelvin gold prospects.
Exploration Update

At the end of Q2, 2022, a total of 7,694 metres had been drilled. Avino released updates on drilling from a number of different areas of the Avino property, including Oxide Tailings Project & a summary of all other 2021 drilling.

These releases are linked here:

Oxide Tailings – April 7, 2022 and May 24, 2022
Avino ET Area – June 13, 2022
Dry Stack Tailings Facility Update

The completion of conversion to dry stack tailings is currently only weeks away, with final details wrapping up. We chose dry stack tailings for its environmental, safety and economic advantages with the high solids content. This significantly improves safety and stability and reduces the need to extract water from local sources by recycling the water removed from tailings. In addition, it requires less land which in turn results in a smaller environmental footprint. A time lapse video showing the progress of the construction of dry stack facility is on our website at the following link, and photos can be viewed at this link.

La Preciosa Update

The Company is currently 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 part of the Company’s organic growth strategy.

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 a gravimetric finish for concentrates and AAS (Atomic Absorption Spectrometry) 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: Inspectorate in the UK, and LSI in the Netherlands and AHK.

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, 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 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. To view the Avino Mine VRIFY tour, please click here.

ON BEHALF OF THE BOARD

“David Wolfin”

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https://avino.com/news/2022/avino-reports-strong-q2-2022-production-results-higher-grades-drive-strong-operational-performance/