Avino Announces Q1 2017 Production Results
NYSE-MKT: ASM
TSX-V: ASM
FSE: GV6
April 13, 2017
AVINO ANNOUNCES Q1 2017 PRODUCTION RESULTS
Avino Silver & Gold Mines Ltd. (NYSE-MKT:ASM: TSX.V, ASM; “Avino” or the “Company”) announces
first quarter 2017 production results from its Avino property near Durango, Mexico.
Consolidated Production Highlights for First Quarter 2017 (Compared to First Quarter 2016)
Silver equivalent decreased by 16% to 604,643 oz*
Gold production increased by 23% to 1,837 oz
Silver production decreased by 21% to 320,082 oz
Copper production decreased by 24% to 1,024,853 lbs
For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $17.42 oz Ag, $1,220 oz Au and $2.65 Lb Cu. Mill
production figures have not been reconciled and are subject to adjustment with concentrate sales. Calculated figures may not add up due to
rounding.
“We have experienced lower production and development numbers this quarter compared to the first
quarter of last year, with the exception of gold production , which has increased by 23%. While the
results are lower mainly due to lower grade material, we are still looking to achieve another solid year .
We anticipate that the grades will improve for the balance of the year as we enter a new high grade
zone at San Gonzalo which is currently being deve loped, and should allow the yearly production levels
to be consistent with the Company’s internal expectations. In 2017, our objectives are to continue
working towards our growth strategy which includes the plant and mine expansion to increase
throughput c apacity at the processing plant by an estimated 70%. We also remain focused on the
optimization of the mill and plant with full automation to improve efficiencies and potentially increase
recovery rates.”
David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.
Consolidated First Quarter 2017 Production Highlights
Comparative production results from the first quarter 2017 and the first quarter 2016 are presented
below:
Q1
2017
Q1
2016
%
Change
Total Silver Eq. Produced (oz) calculated* 604,643 715,933 -16%
Total Gold Produced (oz) calculated 1,837 1,497 23%
Total Silver Produced (oz) calculated 320,082 403,447 -21%
Total Copper Produced (Lbs) calculated 1,024,853 1,350,912 -24%
For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $17.42 oz Ag, $1,220 oz Au and $2.65 Lb Cu. Mill
production figures have not been reconciled and are subject to adjustment with concentrate sales. Calculated figures may not add up due to
rounding.
AVINO SILVER &
GOLD MINES LTD.
T 604.682.3701 Suite 900, 570 Granville Street [email protected]
F 604.682.3600 Vancouver, BC V6C 3P1 www.avino.com
Avino Announces Q1 2017 Production Results
News Release – April 13, 2017
Page 2
Avino Mine First Quarter 2017 Production Results
Comparative figures for the first quarter 2017 and the first quarter 2016 for the Avino Mine are as
follows; production figures for the first quarter 2017 include production from Mill Circuit 2 and Mill
Circuit 3:
Q1
2017
Q1
2016
Quarterly
Change
%
Notes
Tonnes Mined 102,005 99,199 3% 1
Underground Advancement (m) 646 1,143 -43% 1
Mill Availability (%) 98% 97% 1%
Total Mill Feed (dry tonnes) 116,553 119,515 -2%
Feed Grade Silver (g/t) 61 68 -10% 1
Feed Grade Gold (g/t) 0.50 0.27 83% 1
Feed Grade Copper (%) 0.44 0.58 -24% 1
Recovery Silver (%) 86.11 87% -1% 2
Recovery Gold (%) 67.44 67% 1% 2
Recovery Copper (%) 90.87 89% 2% 2
Copper Concentrate (dry tonnes) 2,396 2,712 -12% 3
Copper Concentrate Grade Silver (kg/t) 2.54 2.60 -4% 4
Copper Concentrate Grade Gold (g/t) 16.25 7.87 106% 4
Copper Concentrate Grade Copper (%) 19.4 22.6 -14% 4
Total Silver Produced (kg) 6,083 7,038 -14% 5
Total Gold Produced (g) 38,935 21,353 82% 5
Total Copper Produced (Kg) 464,866 612,764 -24% 5
Total Silver Produced (oz) calculated 195,562 226,264 -14% 5
Total Gold Produced (oz) calculated 1,252 687 82% 5
Total Copper Produced (Lbs) calculated 1,024,853 1,350,912 -24% 5
Total Silver Equivalent Produced (oz) calculated* 439,163 474,206 -7% 5
* For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $17.42 oz Ag, $1,220 oz Au and $2.65 Lb Cu.
Mill production figures have not been reconciled and are subject to adjustment with concentrate sales. Calculated figures may not add up due
to rounding.
First Quarter 2017 Highlights
1. Tonnes mined are up 3%, which is a lower increase than anticipated, due to mechanical issues
with some of the equipment, which is being addressed . Underground advancement decreased
by 43% due to the higher grade lower levels not being available due to water issues, which have
since been controlled. Therefore the upper levels took priority. Feed from the new zone resulted
in an increase of 83% in gold, 10% decrease in silver and 24% decrease in copper.
2. Copper, silver and gold recoveries were stable with slight variances.
3. Copper concentrate production decreased by 12% due to the lower copper grade in the feed
potentially due to the dilution from material being mined.
4. Gold in the concentrate increased by 106% whereas the silver and copper decreased by 4% and
14% respectively.
5. The change in feed grade resulted in an increase of 82% in gold production, a decrease of 24%
and 14% in copper and silver production, respectively.
Avino Announces Q1 2017 Production Results
News Release – April 13, 2017
Page 3
San Gonzalo Mine First Quarter 2017 Production Highlights
Comparative figures for the first quarter 2017 and the first quarter 2016 for the San Gonzalo mine are as
follows:
Q1
2017
Q1
2016
Quarterly
Change % Notes
Tonnes Mined 23,259 24,402 -5%
Underground Advancement (m) 831 1,183 -30% 1
Mill Availability (%) 96 95 1%
Total Mill Feed (dry tonnes) 20,133 20,601 -2%
Feed Grade Silver (g/t) 229 318 -28% 2
Feed Grade Gold (g/t) 1.188 1.49 -20% 2
Recovery Silver (%) 84 84 - 3
Recovery Gold (%) 76 82 -7% 3
Bulk Concentrate (dry tonnes) 698 800 -13% 4
Bulk Concentrate Grade Silver (kg/t) 5.55 6.85 -19% 5
Bulk Concentrate Grade Gold (g/t) 26 27 -4% 5
Total Silver Produced (kg) 3,873 5,511 -30% 6
Total Gold Produced (g) 18,182 25,193 -28% 6
Total Silver Produced (oz) calculated 124,520 177,183 -30% 6
Total Gold Produced (oz) calculated 585 810 -28% 6
Total Silver Equivalent Produced (oz) calculated* 165,480 241,727 -32% 6
* For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $17.42 oz Ag, $1,220 oz Au and $2.65 Lb Cu.
Mill production figures have not been reconciled and are subject to adjustment with concentrate sales. Calculated figures may not add up due
to rounding.
First Quarter 2017 Highlights
1. There was a reduction of 30% in underground development metres as the number of faces for
development work had been reduced pending further geological interpretation and
exploratory drilling.
2. The silver and gold in the feed grade decreased by 28% and 20% respectively due to the ore
blocks that are presently being mined. The grade has been highly variable due to the
mineralisation encountered.
3. There were no changes in the silver recovery of 84%, however the gold recovery decreased by
7% due to the change in mineralization. Some of the gold was found to be associated with
sphalerite; and as a result a test zinc flotation circuit has been implemented to improve the
gold recovery.
4. Concentrate production decreased by 13% mostly on account of the lower feed grade.
5. Silver and gold grade in the concentrate also decreased by 19% and 4%, respectively.
6. The lower feed grade reduced the silver and gold production by 30% and 28% respectively.
Avino Announces Q1 2017 Production Results
News Release – April 13, 2017
Page 4
Quality Assurance/Quality Control
Mill assays are performed at the Avino property’s on -site lab. Check samples are sent to SGS Labs in
Durango, Mexico for verification. All concentrate shipments are assayed by one of the following
independent third party labs: AHK, LSI, Alex Stewart and SGS and Inspectorate in the UK.
Qualified Person(s)
Avino's Mexican projects are under the supervision of Chris Sampson, P.Eng, Avino consultant , and
Jasman Yee P.Eng, Avino director, who are both qualified persons within the context of National
Instrument 43-101. Both have reviewed and approved the technical data in this news release.
About Avino
Avino is a silver and gold producer with a diversified pipeline of gold, silver and base metals properties in
Mexico and Canada employing approximately 500 people. Avino produces from its wholly owned Avino
and San Gonzalo Mines near Durango, Mexico, and is currently planning for f uture production at the
Bralorne Gold Mine in British Columbia, Canada. The Company’s gold and silver production remains
unhedged. The Company’s mission and strategy is to create shareholder value through its focus on
profitable organic growth at the histo ric Avino Property near Durango, Mexico, and the strategic
acquisition of mineral exploration and mining properties. We are committed to managing all business
activities in an 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”
David Wolfin
President & Chief Executive Officer
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 our belief as to the use of proceeds from the Offering and the Company’s plans f or
production for its Avino property and Bralorne Mine property. 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 a re 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 ri sks, 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, our ability to use the proc eeds from the Offering as expected, 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 an d 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 achi evements 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; 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, directors or promoters of with
certain other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of the our com mon
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 anticipa ted, 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
Avino Announces Q1 2017 Production Results
News Release – April 13, 2017
Page 4
on forward -looking statements. We are under no obligation to update or alter any forward -looking statements except as
required under applicable securities laws.
Cautionary Note to United States Investors - The information contained herein and incorporated by reference herein has been
prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of United States
securities laws. In particular, the term "resource" does not equate to the term "reserv e". The Securities Exchange Commission's
(the "SEC") disclosure standards normally do not permit the inclusion of information concerning "measured mineral resources",
"indicated mineral resources" or "inferred mineral resources" or other descriptions of th e amount of mineralization in mineral
deposits that do not constitute "reserves" by SEC standards, unless such information is required to be disclosed by the law o f
the Company's jurisdiction of incorporation or of a jurisdiction in which its securities ar e traded. U.S. investors should also
understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty a s
to their economic and legal feasibility. Disclosure of "contained ounces" is permitted discl osure under Canadian regulations;
however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as
in place tonnage and grade without reference to unit measures.
Neither TSX Venture Exchange n or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.