Avino Extends Mineralization Below MINE Workings
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
October 11, 2022
AVINO EXTENDS MINERALIZATION BELOW MINE WORKINGS
Drills 150 AgEq g/t over 26.77 metres including 1,800 AgEq g/t over 0.28 metres
Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE, "Avino" or "the Company") has now compiled
further drill results from Phase 2 of its 2021/2022 exploration program.
These latest results represent six holes completed below the current Level 17 mining area at the Elena Tolosa
(“ET“) area of the Avino Mine. The goal of this part of the exploration program is to define the continuity of the
steeply dipping mineralization and to identify the source of the mineralization’s feeder. These drilling results
demonstrate the continuity of our mineralization similar to or higher than the current mining widths and grades
at the lowest level of the current Avino Mine production area.
"The ET area drilling builds on our June 2022 results as we as continue to expand the area of mineralization below
Level 17”, said David Wolfin, President and CEO. “We are thrilled at the copper grades over significant widths and
encouraged to see strong gold and silver grades as well. In the last drill campaign, we drilled to a depth of 290
metres below the lowest mining level. This current drill campaign tested infill sections to a depth of 232 metres
to ensure continuity as well as extensions to the east of the known mineralization. Furthermore, we also tested
on the eastern edge of our production workings to add to our geological understanding and help identify the main
mineralization feeder. With this continued success, our team is extremely excited on ET prospects and have made
the decision to mobilize Avino’s 3rd exploration drill rig to these areas. The current intercept widths suggest that
this area will be able to utilize Avino’s existing low-cost bulk mining methods.”
Avino is developing a geological model based on a “near porphyry” environment . The persistence of grade
continuity from surface down a plunge distance of over 800 metres (600 metres vertical) and base metal zonation
supports the likelihood of a deeper mineralized system and could possibly be linked to a porphyry centre.
Geological modelling is ongoing to determine the potential geometry and controls of our mineralization. A further
6 drill holes are planned and budgeted for 2022.
N E W S R E L E A S E
October 11, 2022 - Avino Silver & Gold Mines Ltd. – News Release
AVINO EXTENDS MINERALIZATION BELOW MINE WORKINGS
Drills 150 AgEq g/t over 26.77 metres including 1,800 AgEq g/t over 0.28 metres
Page 2
Geological Description
The Property contains numerous low-sulphidation epithermal veins (including the Avino vein), breccias,
stockworks, and silicified zones that grade into a “near porphyry” environment within a large caldera setting. The
caldera has been uplifted by regional north -trending block faulting ( a graben structure), exposing a window of
andesitic pyroclastic rocks of the lower volcanic sequence within th is caldera. This lower volcanic sequence is
overlain by an upper volcanic sequence, consisting of rhyolite to trachyte lava flows and extensive ignimbrites that
have been intruded by monzonite bodies. The direction of the copper grade increase plunges towards the east in
the Avino vein, suggesting changing pressure and temperature conditions with depth at the time of mineralization
and possibly reflecting a transition from epithermal to porphyry-style mineralization.
Below Level 17
Six holes totalling 3,269 meters drilled were completed to investigate the continuity of mineralization in the
central part of the ET Area. Five of the holes intercepted the mineralization within the vein and stockwork and
are reported in Table 1.
Vein-type mineralization and stockwork with mineralization of silver, gold and copper are found along the contacts
between intrusive rocks and an andesite. This provides opportunities within the ET Area for the identification and
delineation of additional mineral resources that remain open on strike and dip (see Figure 1 for the projections of
the resource relative to the drilled holes ). This recent deeper drilling confirms that the mineralization persist s
down dip significantly past the lowest developed mining level and may prove to add significant mineral resources
subject to the completion of an updated mineral resource estimate currently scheduled for Q1 2023.
"In my opinion, the strong vertical persistence of the mineralization system and three centuries of mining history
are signs that Avino may turn out to be a substantial deposit." said Michael F. O’Brien, P.Geo., Senior Principal
Consultant, Red Pennant Communications.
Highlights
Selected intercepts include:
Hole ET 22-08: 95 AgEq g/t over 43.80 metres, including 673 AgEq g/t over 0.66 metres
Hole ET 22-09: 150 AgEq g/t over 26.77 metres, including 1,037 AgEq g/t over 0. 46 metres and 1,800 AgEq g/t
over 0.28 meters
Details are shown in the table and images below.
October 11, 2022 - Avino Silver & Gold Mines Ltd. – News Release
AVINO EXTENDS MINERALIZATION BELOW MINE WORKINGS
Drills 150 AgEq g/t over 26.77 metres including 1,800 AgEq g/t over 0.28 metres
Page 3
Table 1 - Summary Drill Results
1. AgEq in drill results above assumes $1,700 oz Au and $19.00 oz Ag, and $3.75 lb Cu, and 100% metallurgical recovery
2. HW BX = Hanging Wall Breccia and HW STW = Hanging Wall Stockworks
Structure Hole
Number
From
(m)
To
(m)
Drill Intercept
Length (m)
True width
(m)
Au
(g/t)
Ag
(g/t)
Cu
(%)
AgEq¹
(g/t)
AVINO VEIN ET-22-04 432.85 435.30 2.45 2.12 0.02 2 0.02 5
AVINO VEIN ET-22-05 494.75 512.00 17.25 14.40 0.17 30 0.19 62
Including 505.45 505.85 0.40 0.34 0.42 430 0.42 524
HW BX ET-22-06 70.50 74.80 4.30 3.72 0.07 8 0.16 36
AVINO VEIN And 566.35 603.85 37.50 27.25 0.02 8 0.10 23
Including 585.40 585.60 0.20 0.14 0.49 132 1.92 436
HW STW ET-22-07 213.80 223.90 10.10 9.95 0.25 17 0.40 93
Including 223.00 223.90 0.90 0.90 1.85 37 0.22 232
AVINO VEIN And 555.60 569.15 13.55 10.90 0.06 25 1.05 172
Including 563.70 564.70 1.00 0.74 0.06 65 2.84 454
HW STW ET-22-08 510.15 513.70 3.55 3.20 0.02 12 0.98 146
Including 510.15 510.40 0.25 0.22 0.06 41 7.78 1,099
AVINO VEIN And 519.00 576.65 57.65 43.80 0.15 15 0.49 95
Including 533.00 534.00 1.00 0.66 4.19 36 1.94 673
AVINO VEIN ET-22-09 548.25 581.25 33.00 26.77 0.15 40 0.71 150
Including 548.25 548.65 0.40 0.28 2.96 155 10.20 1,800
Including 556.65 557.25 0.60 0.46 1.98 260 4.43 1,037
October 11, 2022 - Avino Silver & Gold Mines Ltd. – News Release
AVINO EXTENDS MINERALIZATION BELOW MINE WORKINGS
Drills 150 AgEq g/t over 26.77 metres including 1,800 AgEq g/t over 0.28 metres
Page 4
Figure 1 – 3D Longitudinal View of the Avino Vein showing the drill hole locations and a projection of the
mineralization in red.
Figure 2 – 3D Longitudinal View of the Avino Vein showing the Drill Hole locations and the block model in AgEq
View N
Open Pit Topography
BX Avino
Underground works
W
E
ET_22_06
ET_22_05
ET_22_04
View N
Open Pit Topography
BX Avino
Underground workings
W
E
Mineralized Trend
ET_22_06
ET_22_05
ET_22_04
October 11, 2022 - Avino Silver & Gold Mines Ltd. – News Release
AVINO EXTENDS MINERALIZATION BELOW MINE WORKINGS
Drills 150 AgEq g/t over 26.77 metres including 1,800 AgEq g/t over 0.28 metres
Page 5
Figure 3 – Showing Cross-Section of ET-22-08 and the Extent of the down-dip extension from the current mine
workings along with the considerable vein width of 43.80m
Sampling and Assay Methods
Following detailed geological and geotechnical logging, drill core samples were cut in half. One half of the core
was submitted to the SGS Laboratory facility in Durango, Mexico, and the other half is retained on -site for
verification and reference. Gold i s assayed by fire assay with an AA finish. Any samples exceeding 3.0 gold
grams/tonne are re-assayed and followed by a gravimetric finish. Multi-element analyses are also completed for
each sample by SGS ICP14B methods. Any copper values exceeding 10,000 p pm (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 F. 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.
View NE
NW
SE
Ground Surface
Level 17
October 11, 2022 - Avino Silver & Gold Mines Ltd. – News Release
AVINO EXTENDS MINERALIZATION BELOW MINE WORKINGS
Drills 150 AgEq g/t over 26.77 metres including 1,800 AgEq g/t over 0.28 metres
Page 6
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 the La Preciosa property. Avino currently controls 290 million silver equivalent ounces within our
district scaled land package. 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 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”
________________________________
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, and as amended on December 21, 2021, and the Company’s updated
mineral resource estimate for La Preciosa with an effective date of October 27, 2021, prepared for the Company, and references to Measured, Indicated, Inferred Resources
referred to in this press release. These forward -looking statements are made as of the date of this news release and the 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 and other factors which could cause events or outcomes to differ materially from those expressed or implied
by such forward-looking statements. 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 government auth orities, 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 expressed or implied by the forward -looking statements. Known risk factors include risks associated with project development;
the need for additional financing; operationa l 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; environment al liability claims and insurance; 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 uncertaintie s. 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 un due 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 its 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 Resources in this press release are terms that are defined under Canadian rules by National Instrument
43-101 (“NI 43-101”). On October 31, 2018, the US Securities and Exchange Commission adopted Item 1300 of Regulation S -K (“Regulation SK-1300”) to modernize the property
disclosure requirements for mining registrants, and related guidance, under the Securities Act of 1933 and the Securities Ex change Act of 1934. All registrants are required to
comply with Regulation SK-1300 for fiscal years ending after January 1, 2021. Accordingly, the Company must comply with Regulation SK-1300 for its fiscal year ending December
31, 2021, and thereafter, and the Company will no longer utilize Industry Guide 7. Regulation SK-1300 uses the Committee for Mineral Reserves International Reporting Standards
(“CRIRSCO”) based classification scheme for mineral resources and mineral reserves, that includes definiti ons for inferred, indicated, and measured mineral resources. U.S.
Investors are cautioned not to assume that any part of the mineral resources in these categories will ever be converted into probable or proven mineral reserves within the
meaning of Regulation S-K 1300.