Avino Announces Q2 2020 Production Results
July 17, 2020
AVINO ANNOUNCES Q2 2020 PRODUCTION RESULTS
Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE, “Avino” or “the Company”) reports that
production of 158,286 silver equivalent ounces*, 50,581 silver ounces, 459,767 copper lbs, and 404 gold ounces
was achieved in the second quarter 2020 from its Avino Mine property near Durango, Mexico.
As a result of the temporary shutdown due to Covid -19, all production results were lower than anticipated
compared to Q2 2019.
Mining operations were temporarily suspended at the beginning of April as mandated by the Mexican government
and the Avino Mine transition ed to care and maintenance utilizing a reduced workforce to protect employees ,
contractors, and the local communities.
On June 1, 2020, Avino was approved by the Secretariat of Health to recommence regular mining activities in an
orderly, gradual and cautious manner.
2020 Second Quarter Highlights
• Increase in recovery rates and grades at the Avino Mine: On a metal-by-metal basis, recovery rates
were higher and the grades rose slightly
• Avino Mine Avino Mine Successfully Recommenced Operations: The ramp-up began June 1st, working
towards achieving production levels experienced prior to March 31, 2020
“We are encouraged by the higher recoveries achieved in the second quarter, and the progress made in the ramp-
up to full production which was underway once mining operations were allowed to resume in early June”, said
David Wolfin, President and CEO. “In addition, I am pleased to report that despite the challenges related to the
Covid-19 pandemic, the Company’s combined operational and health and safety measures enabled us to continue
with concentrate shipments from established stockpiles of material and, because of our established Crisis
Management Plan, we had a well-executed response for stringent Covid-19 transmission prevention. Finally, due
to the disappointing strike action at site last week, we reiterate that the Company remains receptive to having
good-faith discussions with authorized representatives of the union.”
During Q2 2020 production came from the Avino mine only.
Avino Production Highlights for Q2 2020 (Compared to Q2 2019)
• Silver equivalent production decreased by 56% to 158,286 oz*
• Copper production decreased by 54% to 459,767 lbs
• Silver production decreased by 52% to 50,581 oz
• Gold production decreased by 50% to 404 oz
* In Q2, 2020, AgEq was calculated using metals prices of $16.38 oz Ag, $1,707 oz Au and $2.45 lb Cu. In Q2, 2019, AgEq was calculated using metals prices
of $14.88 oz Ag, $1,309 oz Au and $2.77 lb Cu. Calculated figures may not add up due to rounding.
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
July 17, 2020 – Avino Silver & Gold Mines Ltd. – News Release
Avino Announces Q2 2020 Production Results
Page 2
Management expects to update shareholders on plans for the second half of 2020 when it reports the Q2, 2020
financial results in August.
The recoveries and grades at the Avino mine were marginally higher in Q2 2020 compared to Q2 2019.
Consolidated Production Tables
Avino Mine Production Highlights
* In Q2, 2020, AgEq was calculated using metals prices of $16.38 oz Ag, $1,707 oz Au and $2.45 lb Cu. In Q2, 2019, AgEq was calculated using metals prices
of $14.88 oz Ag, $1,309 oz Au and $2.77 lb Cu. Calculated figures may not add up due to rounding.
Q2 2020
Production by Mine Tonnes
Processed
Silver
Oz
Gold
Oz
Copper
Lbs AgEq
Avino 40,190 50,581 404 459,767 158,286
Historic Above Ground Stockpiles - - - - -
Consolidated 40,190 50,581 404 459,767 158,286
YTD 2020
Production by Mine Tonnes
Processed
Silver
Oz
Gold
Oz
Copper
Lbs AgEq
Avino 199,575 312,819 1,916 2,263,082 835,370
Historic Above Ground Stockpiles 4,711 4,481 19 4,857 6,860
Consolidated 204,286 317,299 1,935 2,267,939 842,230
Q2 2020
Grade & Recovery by Mine Grade
Ag g/t
Grade
Au g/t
Grade
Cu %
Recovery
Ag %
Recovery
Au %
Recovery
Cu %
Avino 43 0.40 0.58 90% 79% 90%
Historic Above Ground Stockpiles - - - - - -
Consolidated 43 0.40 0.58 90% 79% 90%
YTD 2020
Grade & Recovery by Mine Grade
Ag g/t
Grade
Au g/t
Grade
Cu %
Recovery
Ag %
Recovery
Au %
Recovery
Cu %
Avino 54 0.40 0.58 90% 75% 88%
Historic Above Ground Stockpiles 59 0.31 0.15 50% 41% 31%
Consolidated 54 0.40 0.57 89% 74% 87%
Q2
2020
Q2
2019
Quarterly
Change
YTD
2020
Total Mill Feed (dry tonnes) 40,190 96,707 -58% 199,575
Feed Grade Silver (g/t) 43 41 4% 54
Feed Grade Gold (g/t) 0.40 0.38 6% 0.40
Feed Grade Copper (%) 0.58 0.56 4% 0.58
Recovery Silver (%) 90% 81% 11% 90%
Recovery Gold (%) 79% 69% 15% 75%
Recovery Copper (%) 90% 84% 6% 88%
Total Silver Produced (oz) 50,581 104,893 -52% 312,819
Total Gold Produced (oz) 404 800 -50% 1,916
Total Copper Produced (Lbs) 459,767 1,003,995 -54% 2,263,082
Total Silver Equivalent Produced (oz)* 158,286 362,445 -56% 835,370
July 17, 2020 – Avino Silver & Gold Mines Ltd. – News Release
Avino Announces Q2 2020 Production Results
Page 3
Mine Update
Further to the company’s press release dated July 10, 2020, good -faith negotiations with representatives of the
authorized union are ongoing and an update will be provided when further information is available.
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. Gold and silver assays are performed by the fire assay method with the gravimetric finish
for the concentrates and the AAS methods for copper, lead, zinc and silver for the feed and tail grade samples. All
concentrate shipments are assayed by one of the following independent third-party labs: AHK, Inspectorate in the
UK and LSI in the Netherlands.
Qualified Person(s)
Peter Latta, P.Eng, MBA, VP Technical Services, Avino who is a qualified person within the context of National
Instrument 43-101 has 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.
Avino produces from its wholly owned Avino Mine near Durango, Mexico . The Company’s gold and silver
production remains unhedged. The Compa ny’s mission and strategy is to create shareholder value through its
focus on profitable organic growth at the historic Avino Property near Durango, Mexico, and the strategic
acquisition of mineral exploration and mining properties. Avino is committed to m anaging 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 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 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, ou tcomes 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 out comes to differ materially from those expressed or implied by such forward -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.
July 17, 2020 – Avino Silver & Gold Mines Ltd. – News Release
Avino Announces Q2 2020 Production Results
Page 4
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 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 expressed 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 minin g and mineral
processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign c ountries; environmental liability
claims and insurance; reliance on key personnel; the potential for conflicts of int erest among certain of our officers, directors or promoters with 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 identify important factors that could cause actua l 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.