ASM.TO · 2022-01-10 12:00:00

Avino Provides Further Drill Results from Its 2021 Exploration Program

Drill Results

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

January 10, 2022

AVINO PROVIDES FURTHER DRILL RESULTS FROM ITS 2021 EXPLORATION PROGRAM

Drills 32.2 metres of 151 g/t AgEq at the Brecha de Bajo Vein

Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE, “Avino” or “the Company”) is pleased to announce

continued drill results from Phase 2 of the drill campaign which was announced as part of the Company’s exploration plans

for 2021.

Over 15,500 metres of drilling were completed in 2021. This drill program was one of the Company’s main focuses for the

year.

"The results from Phase 2 of the drill campaign are highly encouraging as we have intersected some significant widths with

mineralization on the Brecha de Bajo vein which are in close proximity to our current underground workings at ET. In the

process of testing this vein, we discovered a new vein splay which appears to be mineralized, and has been named the Bart

vein, after the geologist at site who discovered it. In addition, two areas that are showing promise with high gold and silver

grades are the Nuestra Señora vein and the La Malinche vein” said David Wolfin, President and CEO. “Our exploration strategy

is a two-pronged approach based on the different styles of mineralization. We continue to look for economic high grade,

narrow vein low sulphidation style deposits near surface similar to our San Gonzalo mine, and to add large volume, minable,

resources around the current ET mine by exploring the consistent Avino vein, and its vein splays at depth and along strike. As

we have mentioned previously, we have been test targeting a few holes at a time for a methodical approach to building our

database of geological information. These are the kinds of veins that have sustained the Avino mine for last 40 years.”

The reported results below are from the El Trompo Vein, the Santiago Vein and the La Malinche Vein and additional areas

including the Nuestra Señora and the area below Level 17 at the current ET mine. The tables below include previous results

achieved in 2021 and the latest new holes. In addition, we have completed drilling on the oxide tailings resource but are

waiting for assays on a number of outstanding holes.

Results from previously announced El Trompo, Santiago and La Malinche Veins are summarized in a table at the end of this

news release.

Brecha de Bajo Veins:

This vein is located Northeast of the Avino Vein at the eastern end. This vein is within 20m of the current mine working into

the footwall and shows some potentially large, strongly mineralized widths with a 15.4m and 32.2m intersections. In addition

to a showing of gold and silver grades, there is massive specularite (iron ore) mineralization. More work is planned in this

area.

Table 1: The Brecha de Bajo and Bart Vein – Summary of Drilling – 3 holes and 843 metres

Hole

Number

From

(m)

Length1

(m)

(g/t)

(ppm)

AgEq2

(g/t)

NBX-21-02 259.10 260.30 1.20 0.06 151 3,743 614 1,807 211

And 276.60 284.40 7.80 0.08 21 5,550 66 1,611 103

And 300.40 301.05 0.65 0.06 48 7,565 128 3,063 159

NBX-21-03 184.05 185.55 1.50 0.14 84 3,236 762 2,491 147

And 186.90 202.30 15.40 0.27 72 2,569 2,808 1,326 141

Including 189.60 190.65 1.05 0.30 380 11,980 4,230 1,838 573

And 222.60 254.80 32.20 0.84 44 2,173 1,906 1,698 151

Including 247.85 249.80 1.95 1.58 120 1,187 1,355 453 267

1. True Widths cannot be determined with the available information

2. AgEq in drill results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30 Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical recovery

N E W S R E L E A S E

January 10, 2022 - Avino Silver & Gold Mines Ltd. – News Release

Avino Provides Further Drill Results from its 2021 Exploration Program

Drills 32.2 metres of 151 g/t AgEq at the Brecha de Bajo Vein

Page 2

Below Level 17 and West of the Current ET Mine Workings:

Eight holes were drilled to identify the continuity of the ET vein to the west and below the current mine workings on Level

17, and five assays have been received. ET-21-01 to 04 correspond to the area west of the current workings and it appears

that the vein narrows significantly; however, more work is needed to understand the extent of the ET mineralization. ET-21-

05 corresponds to the area below the current workings . It was redrilled ( ET-21-05B) due to the original hole trending off

target. The number of intersections correspond to offshoot vein and veinlets that make up the stockwork system of the Avino

vein. The remaining outstanding assays are for holes below the current mining works.

Table 2: Below and Beside the ET Vein – Summary of Drilling – 8 holes and 3,170 metres

Hole

Number

From

(m)

Length1

(m)

(g/t)

(ppm)

AgEq2

(g/t)

ET-21-01 309.80 320.60 10.80 0.11 7 537 50 154 23

ET-21-02 364.65 365.85 1.20 0.03 9 84 165 302 14

ET-21-03 288.40 288.95 0.55 0.15 58 459 469 283 79

ET-21-04 303.00 310.50 7.50 0.85 8 210 46 116 79

including 309.30 310.20 0.90 2.59 15 513 44 115 228

ET-21-05 182.15 183.15 1.00 0.57 62 17,514 71 71 322

ET-21-05B 180.75 181.90 1.15 0.20 16 4,785 65 127 90

And 459.15 466.20 7.05 0.03 10 3,513 37 363 57

And 489.25 489.85 0.60 0.04 17 15,150 19 83 205

And 494.50 508.20 13.70 0.07 14 5,222 185 292 85

including 494.50 494.80 0.30 0.07 54 49,200 121 246 662

1. True Widths cannot be determined with the available information

2. AgEq in drill results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30 Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical recovery

La Malinche Vein:

The La Malinche vein has been tested by six holes and the assays are shown in Table 3. The style of mineralization intersected

resembles the low-sulphidation epithermal San Gonzalo vein, which was the main source of the Company’s production from

2012 to its closure in 2019. This vein may represent a northwestern fault-dislocated extension of the San Gonzalo vein.

More exploration work will be conducted to confirm this concept and broaden the understanding of the system.

Table 3: La Malinche – Summary of Drilling – 8 holes and 820 metres

Hole

Number

From

(m)

Length1

(m)

(g/t)

(ppm)

AgEq2

(g/t)

LM-21-07 29.90 30.10 0.20 7.87 100 2,710 27,700 2,880 870

LM-21-08 5.75 6.40 0.65 6.04 173 697 6,100 1,350 689

And 13.75 14.90 1.15 0.41 29 470 3,190 1,292 85

including 14.60 14.90 0.30 1.44 50 1,270 2,020 1,240 193

LM-21-08 16.60 16.65 0.05 1.49 320 2,650 75,400 1,800 746

And 86.98 87.03 0.05 0.42 61 2,890 99,600 17,300 557

1. True Widths cannot be determined with the available information

2. AgEq in drill results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30 Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical recovery

These drill results are encouraging as the presence of mineralized material in the La Malinche Vein has been shown to extend

along a strike distance of 250 metres and to a depth of 75 metres from surface. The 650 metre gap between the La Malinche

vein and the northwest termination of the San Gonzalo vein remains prospective.

Nuestra Señora Vein

The Nuestra Señora structure is another example of an epithermal, low sulfidation vein. This structure ranges from 0.10 to

0.90 m wide, composed of white , gray, and banded quartz, abundant galena , sphalerite , and moderate argentite.

Disseminated pyrite is also observed, as well as scarce chalcopyrite in some areas.

January 10, 2022 - Avino Silver & Gold Mines Ltd. – News Release

Avino Provides Further Drill Results from its 2021 Exploration Program

Drills 32.2 metres of 151 g/t AgEq at the Brecha de Bajo Vein

Page 3

Table 4: Nuestra Señora – Summary of Drilling – 2 Holes at 340 metres

Hole

Number

From

(m)

Length1

(m)

(g/t)

(ppm)

AgEq2

(g/t)

NS-21-01 145.80 146.10 0.30 0.03 71 2,480 26,300 29,700 324

And 148.20 149.20 1.00 0.99 82 604 38,292 12,986 360

including 148.20 148.50 0.30 2.99 135 880 56,300 21,800 676

including 149.00 149.20 0.20 0.16 184 712 104,000 26,500 688

And 149.55 149.70 0.15 0.31 143 426 90,600 111,000 968

NS-21-02 154.30 154.55 0.25 0.10 206 73,400 521 930 1,116

And 157.65 157.75 0.10 0.08 174 63,200 643 702 958

And 157.90 158.20 0.30 0.04 100 41,200 333 456 609

And 159.25 159.75 0.50 0.06 106 14,200 436 701 289

And 160.25 161.15 0.90 0.17 268 20,928 6,288 10,121 603

including 160.25 160.50 0.25 0.06 192 24,200 1,300 2,440 508

including 160.50 160.70 0.20 0.12 323 22,300 1,470 1,770 618

including 160.70 161.15 0.45 0.26 285 18,500 11,200 18,100 649

1. True Widths cannot be determined with the available information

2. AgEq in drill results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30 Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical recovery

Santiago Vein:

The Santiago vein lies north of the ET Mine in an area of narrow veins that average 1 to 2 metres in width, and it intersects

the San Gonzalo vein with similar style of mineralization to the historically exploited at San Gonzalo Mine. The San Gonzalo

Mine previously produced 6 million ounces of silver equivalent until it closed in 2019. The continuity of the mineralization of

the Santiago vein is being tested as well as a possible offset displacement by the San Gonzalo fault. This tar get was drilled

from surface. Because of the proximity to San Gonzalo underground infrastructure, mining access would be relatively easy, if

significant mineralization is found.

Table 5: Santiago Vein – Summary of Drilling – 7 holes and 1,717 metres

Hole

Number

From

(m)

Length1

(m)

(g/t)

(ppm)

AgEq2

(g/t)

ST-21-04 202.60 203.40 0.80 2.62 643 2,500 2,605 2,918 904

including 202.90 203.20 0.30 6.24 1,000 1,010 3,710 6,080 1,548

ST-21-07 211.2 211.4 0.2 0.16 46 2740 3480 262 106

1. True Widths cannot be determined with the available information

2. AgEq in drill results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30 Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical recovery

El Trompo Vein:

The El Trompo Vein is an offshoot of the Avino Vein. Historical data suggests that there are narrower high-grade areas within

the broader vein volume. Also, existing underground infrastructure adjacent to the El Trompo vein, potentially provides rapid

and easy access for mining. The structure has already been exposed and developed on the upper levels in the ET Area of the

Avino Vein. Drilling on this vein has been from surface to confirm the continuity of the mineralization at depth.

Table 6: El Trompo Vein – Summary of Drilling – 9 hole and 1,569 metres

Hole

Number

From

(m)

Length1

(m)

(g/t)

(ppm)

AgEq2

(g/t)

TR-21-09 178.50 180.00 1.50 0.01 6 416 42 3,187 26

1. True Widths cannot be determined with the available information

2. AgEq in drill results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30 Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical recovery

The recent El Trompo drilling has demonstrated continuity along 250 m of strike at a depth of 120 m below surface.

San Jorge Vein:

The San Jorge vein appears to be an extension of the Santiago vein across a known fault. Only one exploratory hole has been

drilled to date.

January 10, 2022 - Avino Silver & Gold Mines Ltd. – News Release

Avino Provides Further Drill Results from its 2021 Exploration Program

Drills 32.2 metres of 151 g/t AgEq at the Brecha de Bajo Vein

Page 4

Table 7: San Jorge Vein – Summary of Drilling - 1 hole and 133 metres

Hole

Number

From

(m)

Length1

(m)

(g/t)

(ppm)

AgEq2

(g/t)

SJG-21-01 83.30 85.50 2.20 0.02 10 100 55 433 15

1. True Widths cannot be determined with the available information

2. AgEq in drill results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30 Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical recovery

Current Drilling Highlights

As of Dec 31, 2021, the total meterage drilled was 15,583 and is as follows:

• El Trompo Vein – 1,569 metres

• Santiago Vein – 1,717 metres

• La Malinche – 820 metres

• Nuestra Senora – 340 metres

• San Jorge – 133 metres

• Below and Beside ET – 4,082 metres

• Brecha de bajo and Bart Veins – 895 metres

• La Potosina – 2,382 metres

• Oxide Tailings – 3,645 metres

Assays are pending due to long turnaround times at the laboratories for some of the Oxide Tailings drilling as well as the holes

at La Potosina, Brecha de Bajo and 3 holes below ET.

The table below summarizes the previously announced Phase 1 drill results from El Trompo, Santiago and La Malinche Veins

Hole

Number

From

(m)

Length1

(m)

(g/t)

(ppm)

AgEq2

(g/t)

El Trompo Vein

TR-21-01 182.00 183.85 0.95 0.56 177 35,000 540 670 577

TR-21-02 228.45 231.00 2.70 0.03 32 3,000 180 1,900 71

TR-21-03 101.80 104.55 2.75 0.42 276 1,000 2,900 1,000 322

TR-21-04 139.80 141.65 1.85 0.08 37 1,000 1,200 2,700 64

TR-21-05 115.00 116.00 1.00 0.02 8 1,300 40 3,500 33

TR-21-06 161.35 165.75 4.40 0.11 47 2,100 1,600 700 82

TR-21-07 124.35 127.15 2.80 0.01 2 170 100 1,600 9

TR-21-08 182.05 183.90 1.85 0.01 1 0 20 5600 4

Santiago Vein

ST-21-01 158.35 160.10 1.75 0.09 25 1,720 315 1230 53

ST-21-02 171.00 171.60 0.60 0.18 33 154 712 2080 55

ST-21-03 124.15 125.85 1.70 0.13 16 234 661 3420 39

ST-21-04 202.60 203.40 0.80 2.62 643 2,500 2,605 2,918 865

ST-21-05 Did not intersect the vein

ST-21-06 198.75 199.50 0.75 0.01 6 724 66 191 59

La Malinche Vein

LM-21-01 53.35 53.85 0.50 0.44 9 630 5,724 18,248 114

LM-21-02 77.60 77.85 0.25 0.12 23 2,980 539 282 64

LM-21-03 76.05 77.45 1.40 0.12 5 475 451 402 20

LM-21-04 81.05 81.15 0.10 1.68 252 11,700 9,390 103,000 820

And 89.80 90.50 0.70 0.19 30 3,480 3,456 5,635 81

LM-21-05 70.75 72.10 1.35 0.65 61 4,914 4,716 5,674 185

LM-21-06 85.30 86.20 0.90 1.56 364 28,778 7,411 616 786

1. True Widths cannot be determined with the available information

2. AgEq in drill results above assumes $1,800 Au and $26.00 Ag per ounce, and $4.25 Cu, $1.00 Pb, and $1.25 Zn per pound, and 100% metallurgical recovery

January 10, 2022 - Avino Silver & Gold Mines Ltd. – News Release

Avino Provides Further Drill Results from its 2021 Exploration Program

Drills 32.2 metres of 151 g/t AgEq at the Brecha de Bajo Vein

Page 5

Sampling and Assay Methods

Following detailed geological and geotechnical logging, drill core samples are sawed in half. One half of the core is submitted

to SGS Laboratory facility in Durango, Mexico, and the other half is retained on -site for verification and reference. Gold is

assayed by fire assay with an AA finish. Any samples exceeding 3.0 grams/tonne gold are re -assayed and followed by a

gravimetric finish. Multi-element analyses are also completed for each sample by SGS ICP14B methods. Any copper va lues

exceeding 10,000 ppm (1%) are -assayed using ICP 90Q. Silver is fire assayed with a gravimetric finish for samples assaying

over 100 grams/tonne.

Avino uses a series of standard reference materials (SRMs), blank reference materials (blanks), and duplicates as part of their

QA/QC program during analysis of assays.

Qualified Person(s)

Avino's projects in Durango , Mexico are under the geoscientific oversight of Michael O’Brien, P.Geo., Senior Principal

Consultant, Red Pennant Communications, and under the supervision of Peter Latta, P.Eng, Avino’s VP , Technical Services,

who are both qualified persons within the context of NI 43-101. Both have reviewed and approved the technical data in this

news release.

About Avino

Avino is primarily a silv er 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. To view the Avino Mine VRIFY tour, please click here.

On Behalf of the Board

“David Wolfin”

________________________________

David Wolfin

President & CEO

Avino Silver & Gold Mines Ltd.

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 amended mineral resource estimate for the Company’s

Avino Property located near Durango in west -central Mexico (the “Avino Property”) with an effective date of January 13, 2021, prepared for the Company, and La

Preciosa’s updated October 27, 2021 resource estimate and references to Measured, Indicated, Inferred Resources referred to in this press release. These fo rward-

looking statements are made as of the date of this news release and the dates of technical reports, as applicable. Readers ar e 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 and other factors which could cause events or outcomes to differ materially from those expressed

or implied by such forward -looking statements. No assurance can be given th at the Company’s Avino Property nor the La Preciosa Property have the amount of the

mineral resources indicated in their reports or that such mineral resources may be economically extracted. Such factors and assumptions include, among others, the

effects of general economic conditions, the price of gold, silver and copper, changing foreign exchange rates and actions by governmen t 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 r esults, performance or achievements

expressed or implied by the forward -looking statements. Known risk factors include risks associated with project development; the need for additional financing;

operational risks associated with mining and mineral processing; the COVID-19 pandemic; volatility in the global financial markets; fluctuations in metal prices; title

matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability claims and ins urance; reliance on key personnel; the

potential for conflicts of interest among certain of our officers, directors or promoters with certain other projects; the absence of dividends; currency fluctuations;

competition; dilution; the volatility of the our common share price and volume; tax consequences to U.S. investors; and other risks and uncertainties. Although we

have attempted to identify 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. For more detailed information regarding the Company including it s risk factors, investors are directed to the Company’s Annual Report on

Form 20-F and other periodic reports that it files with the U.S. Securities and Exchange Commission.

References to Measured & Indicated Mineral Resources and Inferred Mineral Resource s in this press release are terms that are defined under Canadian rules by

National Instrument 43-101 (“NI 43-101”). U.S. Investors are cautioned not to assume that any part of the mineral resources in these categories will ever be converted

into Reserves as defined under SEC Industry Guide 7.

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