Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; FSE: GV6, “Avino” or “the Company”) a growing silver producer in Mexico, released today its consolidated financial results for the Company’s fourth quarter and year end 2022. The earnings should be read in conjunction with the Company’s Financial Statements and Management’s Discussion and Analysis (MD&A) for the corresponding period, which can be viewed on the Company’s website at www.avino.com, or on SEDAR at www.sedar.com or on EDGAR at www.sec.gov.

Fourth Quarter 2022 Financial Highlights

Revenues of $14.6 million
Mine operating income of $4.4 million, $5.3 million net of non-cash costs of sales
Net income of $1.3 million, or $0.01 per share
Cash costs per silver equivalent payable ounce sold1,2 - $11.76 per ounce
All in sustaining cash cost per silver equivalent payable ounce sold1,2 - $18.63 per ounce
Earnings before interest, taxes, depreciation and amortization (“EBITDA”) 3 of $3.2 million
Adjusted earnings3 of $4.0 million, or $0.03 per share
Cash provided by operating activities of $3.3 million
Full Year 2022 Financial Highlights

Revenues of $44.2 million
Mine operating income of $15.1 million, $17.6 million net of non-cash costs of sales
Net income of $3.1 million, or $0.03 per share
Cash cost per silver equivalent payable ounces sold1,2 - $10.34 per ounce
All in sustaining cash cost per silver equivalent payable ounce sold1,2 - $17.91 per ounce
Earnings before interest, taxes, depreciation and amortization (“EBITDA”)3 of $10.3 million
Adjusted earnings3 of $10.2 million, or $0.08 per share
Cash provided by operating activities of $11.8 million
“We are very pleased to report that we have posted record revenue for the fourth quarter and the full year of 2022. This year was highlighted by record 3rd and 4th quarterly production levels not seen in Avino’s recent history as we increased our mill throughput by 228% year over year to almost 542,000 tonnes. This reflects the steady ramp up at the Avino mine,” said David Wolfin, President and CEO. “In a year impacted by inflation, global conflicts, and an uneasy economic outlook, we have demonstrated resilient operational achievements at Avino that have generated a significant 294% increase of yearly revenues to $44.2 million and $15.1 million in yearly mine operating income. We are focused on our clear path to transformation growth, with a collective effort of initiative, resilience, and once again strong cost management both corporately and at the mine site. We remain well-positioned to manage through any near-term pressures arising from an overall economic slowdown and focused on delivering the best performance to our shareholders and stakeholders, while executing on our growth plan to become an intermediate producer in Mexico.”

Financial Highlights
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https://avino.com/news/2023/avino-achieves-net-earnings-of-3.1-million-in-2022-record-quarterly-annual-revenues-of-14.6-44.2-million/