Avino Announces Q3 2021 Production Results
October 15, 2021
AVINO ANNOUNCES Q3 2021 PRODUCTION RESULTS
Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE, “Avino” or “the Company”) reports that
production of 285,464 silver equivalent ounces*, consisting of 77,935 ounces of silver, 1,183 ounces of gold, and
685,535 pounds of copper, was achieved in the third quarter 2021 from its Avino Mine property near Durango,
Mexico.
“We are very pleased to announce our third quarter production results which followed a period of operational
closure,” said David Wolfin, President and CEO of Avino . “The entire Avino team worked tremendously hard to
assist in the resumption of operations in August, and successfully achieve production for the quarter. Moving
forward, we aim to steadily increase production to reach the levels established prior to the closure . I am also
thrilled that training programs are ongoing at the mine as we look to further build a local workforce.”
2021 Third Quarter Highlights
• Avino Mine successfully recommenced operations: Underground mining operations are now hauling
between 1,000 and 1,500 tpd to surface on a daily basis, with the mill operating at a similar capacity.
The Company is working towards achieving pre-shutdown levels of mine and mill production. Current
plant capacity remains at 2,500 tpd.
• Increase in overall feed grades from the Avino Mine: Silver, gold and copper grades increased by 16%,
138% and 18%, respectively, compared to the last quarterly production period of Q2 2020.
• Increase in copper recovery rates from the Avino Mine: Copper recovery rose to 94% from 90%, and
metal grades across the board where higher when compared to the last quarterly production period of
Q2 2020.
During Q3 2021 production came primarily from the Avino Mine. The Company is currently mining and milling
from the Avino Mine only. As part of the ramp-up of operations 10,806 tonnes of Historic Above Ground stockpile
material having been processed during Q3 2021. Production from this material totaled 15,784 silver equivalent
ounces, consisting of 9,336 ounces of silver, 58 ounces of gold, and 12,584 pounds of copper, and there was no
comparable production from Q2 2020.
Avino Production Highlights for Q3 2021 (Compared to Q2 2020 – most recent quarter of production)
• Silver equivalent production increased 70% to 269,680 ounces*
• Copper production increased by 46% to 672,951 lbs
• Silver production increased by 36% to 68,599 oz
• Gold production increased by 179% to 1,125 oz
*In Q3 2021, AgEq was calculated using metals prices of $24.36 oz Ag, $1,790 oz Au and $4.25 lb Cu. In Q2 2020, AgEq was calculated using metals prices of
$16.38 oz Ag, $1,707 oz Au and $2.45 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
October 15, 2021 – Avino Silver & Gold Mines Ltd. – News Release
Avino Announces Q3 2021 Production Results
Page 2
Consolidated Production Tables
Avino Mine Production Highlights1
110,806 tonnes of historic above ground stockpiles were processed during Q3 2021 as part of the ramp-up of operations. Production from this material totaled
15,784 silver equivalent ounces, consisting of 9,336 ounces of silver, 58 ounces of gold, and 12,584 pounds of copper, and there was no comparable production
from Q2 2020.
2Q2 2020 was the most recent quarter of consolidated production and is most appropriate for comparison purposes.
3In Q3 2021, AgEq was calculated using metals prices of $24.36 oz Ag, $1,790 oz Au and $4.25 lb Cu. In Q2 2020, AgEq was calculated using metals prices of
$16.38 oz Ag, $1,707 oz Au and $2.45 lb Cu. Calculated figures may not add up due to rounding.
Q3 2021
Production by Mine Tonnes
Processed
Silver
Oz
Gold
Oz
Copper
Lbs AgEq
Avino 47,452 68,599 1,125 672,951 269,680
Historic Above Ground Stockpiles 10,806 9,336 58 12,584 15,784
Consolidated 58,258 77,935 1,183 685,535 285,464
YTD 2021
Production by Mine Tonnes
Processed
Silver
Oz
Gold
Oz
Copper
Lbs AgEq
Avino 50,985 72,102 1,171 727,994 285,157
Historic Above Ground Stockpiles 10,806 9,336 58 12,584 15,784
Consolidated 61,791 81,438 1,229 740,578 300,941
Q3 2021
Grade & Recovery by Mine Grade
Ag g/t
Grade
Au g/t
Grade
Cu %
Recovery
Ag %
Recovery
Au %
Recovery
Cu %
Avino 50 0.95 0.68 90% 77% 94%
Historic Above Ground Stockpiles 41 0.26 0.12 65% 63% 45%
Consolidated 48 0.83 0.58 86% 75% 85%
YTD 2021
Grade & Recovery by Mine Grade
Ag g/t
Grade
Au g/t
Grade
Cu %
Recovery
Ag %
Recovery
Au %
Recovery
Cu %
Avino 49 0.92 0.69 90% 78% 94%
Historic Above Ground Stockpiles 41 0.26 0.12 65% 63% 45%
Consolidated 48 0.81 0.59 86% 75% 85%
Q3
2021
Q2
20202
Quarterly
Change
YTD
2021
Total Mill Feed (dry tonnes) 47,452 40,190 18% 50,985
Feed Grade Silver (g/t) 50 43 16% 49
Feed Grade Gold (g/t) 0.95 0.40 138% 0.92
Feed Grade Copper (%) 0.68 0.58 18% 0.69
Recovery Silver (%) 90% 90% -% 90%
Recovery Gold (%) 77% 79% -2% 78%
Recovery Copper (%) 94% 90% 5% 94%
Total Silver Produced (oz) 68,599 50,581 36% 72,102
Total Gold Produced (oz) 1,125 404 179% 1,171
Total Copper Produced (Lbs) 672,951 459,767 46% 727,994
Total Silver Equivalent Produced (oz)3 269,680 158,286 70% 285,157
October 15, 2021 – Avino Silver & Gold Mines Ltd. – News Release
Avino Announces Q3 2021 Production Results
Page 3
Exploration and Operational Update
Exploration:
At the end of September, a total of 12,179 metres of drilling has been completed at the Avino property. The main
areas for the third quarter of exploration include the Oxide Tailings, the area below current mining operations at
Avino, as well as the highly prospective area of La Potosina.
Assay results are pending due to long turn around times at the laboratories and will be released once received
and interpreted.
Operations:
The Company has been training a local workforce at the mine as it endeavours to support nearby towns and
strengthen the collaboration between the surrounding communities and the Company. As a major employer in
the area, it is important that there is a steady group of trained mine workers available as we ramp up production.
The training programs are aimed at increasing inclusion and diversity , as well as fostering opportunities for both
women and men. With this objective in mind, the Company is pleased to have trained its first female scooptram
operator.
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 primarily a silver producer 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 organic growth at the historic Avino Property and the strategic acquisition of mineral exploration and
mining properties. We are committed to managing al l 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_ASM and on LinkedIn at Avino Silver & Gold Mines.
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 ar e cautioned not to
place undue reliance on forward -looking statements, as there can be no assurance that the future circum stances, 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 an d 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 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.
October 15, 2021 – Avino Silver & Gold Mines Ltd. – News Release
Avino Announces Q3 2021 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, per formance 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 mining and mineral
processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environ mental liability
claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our offi cers, 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. Al though 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.
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.