A Successful Resolution to the Strike at the Avino MINE
October 8, 2020
A SUCCESSFUL RESOLUTION TO THE STRIKE AT THE AVINO MINE
Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; FSE: GV6, "Avino" or "the Company") is pleased to
announce that, through continued good faith negotiations, the Company and the Mexican Mining Union have
reached an agreement and the strike at the mine has ended.
“We have reached a conclusion to the strike at the Avino Mine. Negotiations were ongoing during the last 12
weeks and a successful resolution to a challenging situation has been achieved,” said David Wolfin, President and
CEO. “I would like to thank our Mexican management team who worked tirelessly to oversee the negotiations and
bring this to a close. We have a long history of good employee and community relations and I would like to thank
the many dedicated workers and members of the community for their support.”
The strike has ended, and due to an extended period of inactivity at the mine, and before the company can restart
operations, we will carry out a comprehensive evaluation of all underground, milling and surface equipment to
ensure all are in excellent working condition.
Avino continues to move forward with the proposed dry-stack, tailings storage facility (“TSF#2”), as mentioned in
the Company’s news release dated February 10, 2020. TSF#2 is on privately owned Avino land, is permitted, and
is currently in the final stage prior to commencing construction.
The Company is looking forward to positive discussions between the community of Panuco de Coronado and the
State Government which should help to provide the social approval to move forward with the Construction of
TSF#2. Their combined support is important to the vitality of the community and will aid in restarting production
activities. The restart of production activities is expected to provide significant direct e conomic benefits and
stimulus for the local communities.
We wish to thank all our stakeholders, shareholders, local communities and employees for their support and
patience during the last few months, and we can now all focus on the future.
ON BEHALF OF THE BOARD
“David Wolfin”
________________________________
David Wolfin
President & CEO
Avino Silver & Gold Mines Ltd.
N E W S R E L E A S E
ASM: TSX/NYSE American
Avino Silver & Gold Mines Ltd. T (604) 682 3701
Suite 900-570 Granville Street F (604) 682 3600
Vancouver, BC V6C 3P1 www.avino.com
Avino Silver & Gold Mines Ltd. – October 8, 2020
News Release
A Successful Resolution to the Strike at the Avino Mine
Page 2
Safe Harbor Statement - This news release contains “forward -looking information” and “forward -looking statements” (together, the “forward looking
statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including the updated
mineral resource estimate for the Company’s Avino Property located near Durango in west-central Mexico (the “Property”) with an effective date of February
21, 2018, and amended on December 19, 2018, including but are not limited to, the Company’s ability to meet its production guidance at levels achieved
prior to March 31, 2020. prepared for the Company, and reference to Measured, Indicated, Inferred Resources referred to in th is press release. These
forward-looking statements are made as of the date of this news release and th e dates of technical reports, as applicable. Readers are cautioned not to
place undue reliance on forward -looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or
implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward -looking statements are based will
occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared,
the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions an d other factors which could
cause events or outcomes to differ materially from those expressed or implied by such f orward-looking statements. No assurance can be given that the
Company’s Property does not have the amount of the mineral resources indicated in the updated report or that such mineral resources may be economically
extracted.
Such factors and assumptions i nclude, among others, the effects of general economic conditions, the price of gold, silver and copper, changing foreign
exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgments in the course of
preparing forward -looking information. In addition, there are known and unknown risk factors which could cause our actual results, performance or
achievements to differ materially from any future results, performance or achievements expre ssed or implied by the forward -looking statements. Known
risk factors include risks associated with project development; the need for additional financing; operational risks associat ed with mining and mineral
processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability
claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our officers, direc tors or promoters w ith certain
other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of our common share price and volume; tax consequences
to U.S. investors; and other risks and uncertainties. Although we have attempted to id entify important factors that could cause actual actions, events or
results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We
are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of
this release.