Avino Announces Q3 2017 Production Results
NYSE-MKT: ASM
TSX-V: ASM
FSE: GV6
October 16, 2017
AVINO ANNOUNCES Q3 2017 PRODUCTION RESULTS
Avino Silver & Gold Mines Ltd. (NYSE-American: ASM; TSX.V: ASM; “Avino” or the “Company”) announces
third quarter 2017 production results from its Avino property near Durango, Mexico.
Consolidated Production Highlights for Third Quarter 2017 (Compared to Third Quarter 2016)
• Silver equivalent production increased by 17% to 760,756 oz*
• Gold production increased by 47% to 2,673 oz
• Silver production decreased by 10% to 368,456oz
• Copper production increased by 6% to 1,106,305 lbs
* For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $17.45 oz Ag,
$1,316 oz Au and $2.99 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 are pleased to report a strong quarter and that we are on pace to reach our budgeted production
targets for 2017.
Our expansion is on schedule and I’d like to thank our hard -working staff, both in Mexico and Canada , for
their efforts.”
David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.
Consolidated Third Quarter 2017 Production Highlights
Comparative production results from the third quarter 2017 and the third quarter 2016 are presented below:
Q3
2017
Q3
2016
%
Change
Total Silver Eq. Produced (oz) calculated* 760,756 649,831 17%
Total Gold Produced (oz) calculated 2,673 1,813 47%
Total Silver Produced (oz) calculated 368,456 410,908 -10%
Total Copper Produced (Lbs) calculated 1,106,305 1,045,091 6%
* For comparison purposes, the silver equivalent ratio for Q3 2017 has been calculated using metal prices of $ 17.45 oz Ag, $1,316 oz Au and
$2.99 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 Q3 2017 Production Results
News Release – October 16, 2017
Page 2
Avino Mine Third Quarter 2017 Production Results
Comparative figures for the third quarter 2017 and the third quarter 2016 for the Avino Mine are as follows;
production figures for the third quarter 2017 include production from Mill Circuit 2 and Mill Circuit 3:
Q3
2017
Q3
2016
Quarterly
Change
%
2017
YTD Notes
Tonnes Mined 119,317 116,154 3% 351,239 1
Underground Advancement (m) 832 866 -4% 2,250 1
Mill Availability (%) 98 96 2% 97
Total Mill Feed (dry tonnes) 117,862 111,042 6% 351,802 2
Feed Grade Silver (g/t) 66 71 -6% 68 4
Feed Grade Gold (g/t) 0.70 0.47 49% 0.58 4,5,6
Feed Grade Copper (%) 0.48 0.48 0% 0.47 4
Recovery Silver (%) 85% 85% 0% 85% 5
Recovery Gold (%) 70% 58% 21% 69% 5,6
Recovery Copper (%) 88% 89% -1% 89% 5
Copper Concentrate (dry tonnes) 2,491 2,362 5% 7,501
Copper Concentrate Grade Silver (kg/t) 2.66 2.83 -6% 2.70 6
Copper Concentrate Grade Gold (g/t) 23.07 12.81 80% 18.59 6
Copper Concentrate Grade Copper (%) 20.15 20.07 0% 19.74 6
Total Silver Produced (kg) 6,634 6,681 -1% 20,234 3
Total Gold Produced (g) 57,448 30,250 90% 139,421 3
Total Copper Produced (Kg) 501,812 474,046 6% 1,480,692 3
Total Silver Produced (oz) calculated 213,282 214,785 -1% 650,530 3
Total Gold Produced (oz) calculated 1,847 973 90% 4,482 3
Total Copper Produced (Lbs) calculated 1,106,305 1,045,091 6% 3,264,363 3
Total Silver Equivalent Produced (oz) calculated* 542,846 396,397 37% 1,494,245 3
*For comparison purposes, the silver equivalent ratio for Q3 2017 has been calculated using metal prices of $ 17.45 oz Ag, $1,316 oz Au and
$2.99 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.
Third Quarter 2017 Highlights
1. Tonnage mined increased by 3% whereas underground dev elopment metres decreased by 4% . The
increase in mined tonnage was due to a switch to slashing on the mineralized zones o n levels 12 to
14 in favour of more development metres to facilitate easier access to mill feed.
2. Processed tonnage increased as Circuit #2 was used exclusively for treating Avino material during Q3
2017, which resulted in tonnage processed increasing by 6%.
3. Gold and copper production increased by 90% and 6% respectively , while silver production
decreased slightly by 1%. The net result was an increase of 37% in silver equivalent production.
4. There was no change in the copper feed grade while the gold feed gra de increased by 49% and the
silver feed grade decreased by 6%.
5. Gold recovery increased by 21% due to higher gold feed grade. There was no chang e to the silver
recovery and copper recovery decreased slightly by 1%.
6. The higher gold feed grade and higher recovery resulted in an increase of 80% in the gold grade of
the copper concentrate. There was no change to the copper grade , while the silver grade decreased
by 6%.
San Gonzalo Mine Third Quarter 2017 Production Highlights
Comparative figures for the third quarter 2017 and the third quarter 2016 for the San Gonzalo mine are as
follows:
Q3
2017
Q3
2016
Quarterly
Change %
YTD 2017
Notes
Tonnes Mined 18,450 30,050 -39% 62,947 1
Underground Advancement (m) 747 1,089 -31% 2,667 1
Mill Availability (%) 97 94 3% 95
Total Mill Feed (dry tonnes) 20,338 26,989 -25% 60,579 2,4,5
Feed Grade Silver (g/t) 281 272 3% 262 3,4
Feed Grade Gold (g/t) 1.55 1.30 19% 1.31 3,4
Recovery Silver (%) 85% 83% 2% 83% 3
Recovery Gold (%) 82% 75% 9% 78% 3
Bulk Concentrate (dry tonnes) 851 923 -8% 2,276 5
Bulk Concentrate Grade Silver (kg/t) 5.67 6.61 -14% 5.79 5
Bulk Concentrate Grade Gold (g/t) 30.21 28.34 7% 27.06 5
Total Silver Produced (kg) 4,826 6,100 -21% 13,188 4
Total Gold Produced (g) 25,698 26,152 -2% 61,603 4
Total Silver Produced (oz) calculated 155,174 196,123 -21% 423,996 4
Total Gold Produced (oz) calculated 826 841 -2% 1,981 4
Total Silver Equivalent Produced (oz) calculated* 217,910 253,434 -14% 569,328 4
*For comparison purposes, the silver equivalent ratio for Q3 2017 has been calculated using metal prices of $ 17.45 oz Ag, $1,316 oz Au and
$2.99 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 Announces Q3 2017 Production Results
News Release – October 16, 2017
Page 4
Third Quarter 2017 Highlights
1. Tonnage mined and underground advancement decreased by 39% and 31% respectively , compared
with the corresponding quarter of the previous year. This was due to fewer targets for mine
development and limited ramp access due to the ongoing exploration drilling program.
2. Tonnage processed decreased by 25% as C ircuit #2 was used exclusively for the treatment of Avino
mine material.
3. Silver and gold feed grades increased by 3% and 19% respectively, while the silver recovery improved
by 2% and gold recovery by 9%.
4. Silver and gold production decreased by 21% and 2% respectively, resulting in 14% fewer silver
equivalent ounces produced for the quarter. Higher feed grades and recoveries were not large
enough to offset the impact of the lower tonnage processed.
5. The lower tonnage processed also resulted in 8% fewer tons of concentrate. The silver grade in the
concentrate decreased by 14% while the gold increased by 7%.
Zinc Circuit
Testing of this circuit continued during the quarter , and approximately 150 tonnes of low quality zinc
concentrate was produced. The grade of this material was appro ximately 21% zinc, 1700g/t silver and 8.5g/t
gold. Some of this product has been sold and , as long as there is a buyer, testing of this circuit will continue.
The zinc circuit results are not included in the above production table for San Gonzalo.
Quality Assurance/Quality Control
Mill assays are performed at the Avino ’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, Inspectorate in the UK, and LSI in the Netherlands.
Qualified Person(s)
Avino's Mexican projects are under the supervision Jasman Yee , P.Eng, Avino director, who is a qualified
person within the context of National Instrument 43 -101. He 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 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 future 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 historic 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
Avino Announces Q3 2017 Production Results
News Release – October 16, 2017
Page 5
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 extent and timing of various studies including the PEA, and exploration results, the potential tonnage, grades and
content of deposits, and timing, establishment, and extent of resource estimates. 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 authorities, uncertainties associated with legal proceedings and negotiation s 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 exp ressed 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; unce rtainties 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 with certain other projects; the a bsence of dividends; currency
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and uncertainties. Although we have attempted to identify important factors that cou ld 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
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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 "reserve". 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 the 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 of the Company's jurisdiction of incorporation or o f a jurisdiction in
which its securities are traded. U.S. investors should also understand that "inferred mineral resources" have a great amount of uncertainty as to
their existence and great uncertainty as to their economic and legal feasibility. Disclosure of "contained ounces" is permitt ed disclosure under
Canadian regulations; however, the SEC norm ally 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.
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