Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; GV6: FSE; “Avino” or the “Company”) announces that it has filed a new short form base shelf prospectus dated January 25, 2021 (the “Base Shelf Prospectus”) and prospectus supplement dated January 27, 2021 (the “Prospectus Supplement”) in Canada, pursuant to which Avino may distribute common shares (the “Offered Shares”) from time to time pursuant to a sales agreement dated January 13, 2021 (the “Sales Agreement”) with Cantor Fitzgerald & Co. (the “Designated Agent”), H.C. Wainwright & Co., LLC, Roth Capital Partners, LLC, and A.G.P./Alliance Global Partners (collectively, with the Designated Agent, the “Agents”), as agents or as principals, for the distribution of the Offered Shares in the United States up to the aggregate sales amount of US$25.0 million (the “Maximum Amount”), in accordance with the terms of the Sales Agreement (the “Offering”). The Offering is being made in the United States under the terms of a registration statement on Form F-3 (SEC File No. 333-252081) (the “Registration Statement”) filed with, and declared effective on January 29, 2021 by, the Securities and Exchange Commission (the “SEC”) in the United States, and the Base Shelf Prospectus and Prospectus Supplement filed in each Province of Canada, except Quebec; the Registration Statement, Base Shelf Prospectus and Prospectus Supplement being collectively, the “Prospectus”).

The sales of the Offered Shares will be made directly on the NYSE American, and will be deemed sales of Offered Shares under the Prospectus in transactions that are deemed to be “at-the-market distributions” as defined in National Instrument 44-102, Shelf Distributions (“NI 44-102”). The Offered Shares will be distributed at the market prices prevailing at the time of sale. As a result, prices may vary as between purchasers and during the period of distribution. The period of distribution will be until the Maximum Amount has been achieved, unless terminated earlier under the terms of the Sales Agreement.

The Company has agreed to pay the Agents a cash commission up to 3.0% of the gross proceeds of the Offering.

The Prospectus Supplement relating to the Offering, together with the Base Shelf Prospectus and the Registration Statement (collectively, the “Offering Documents”) will be filed with the securities commissions in all of the Provinces of Canada, except Quebec, and the Registration Statement previously filed with the SEC. The Offering Documents will contain important detailed information about the securities being offered. Before you invest, you should read the Offering Documents and the other documents the Company has filed for more complete information about the Company and the Offering. Copies of the Sales Agreement and the Offering Documents will be available for free by visiting the Company’s profiles on the SEDAR website maintained by the Canadian Securities Administrators at www.sedar.com or the SEC’s website at www.sec.gov, as applicable.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Avino:

Avino is primarily a silver producer with a diversified pipeline of silver, gold, and base metal properties in Mexico. Avino produces from its wholly owned Avino Mine near Durango, Mexico. The Company’s silver and gold 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.

On Behalf of the Board

“David Wolfin”