Avino Files Technical Report ON SEDAR
NYSE - MKT: ASM
TSX-V: ASM
May 29, 2017 FSE: GV6
AVINO FILES TECHNICAL REPORT ON SEDAR
Avino Silver & Gold Mines Ltd. (ASM: TSX.V, ASM: NYSE – MKT, GV6: FSE, “Avino” or “the Company”)
is pleased to announce that it has filed the completed “Technical Report on the Avino Property,
Durango, Mexico” on the company’s profile on the SEDAR system , with the effective date of April 11,
2017, pursuant to Avino’s news release dated the same day. The Technical Report , pertaining to the
Preliminary Econ omic Assessment (“PEA”) of re -treating the Avino mine tailings , includes the results
from the Company’s recent 2016 Resource Estimate (see news release dated September 26, 2016) . The
PEA was prepared in accordance w ith National Instrument 43 -101 by Tetra T ech Canada Inc. (“Tetra
Tech).
Highlights of the Oxide Tailings Preliminary Economic Assessment
Significant pre-tax NPV8% of US$40.5 million
Attractive pre-tax IRR of 48.4%
2 year pay-back period
Total capital expenditures of US$28.5 million
7 year mine life with LOM of 3.12 million tonnes of oxide tailings material
The Oxide Tailings deposit comprises historic recovery plant residue material deposited during the
earlier period of open pit mining of the Avino Vein, when there were poor proce ss plant recoveries for
silver and gold. The oxide tailings are partially covered by younger unconsolidated sulphide tailings on
the northwest side of the property. For more information see Avino’s news release dated April 11, 2017.
The Company cautions t hat the PEA is preliminary in nature in that it is based on Inferred Mineral
Resources which are considered too speculative geologically to have the economic considerations applied
to them that would enable them to be characterized as mineral reserves, and there is no certainty that
the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated
economic viability.
Qualified Person(s)
The Qualified Persons as defined by NI 43 -101, who supervised and are responsible for th e Technical
Report on the Oxide Tailings Retreatment of the Avino Mine, and have reviewed the scientific, technical
and financial content of this news release, are Hassan Ghaffari, MASc., P.Eng ., P.Eng, Jianhui Huang,
PhD., P.Eng, of Tetra Tech Canada Inc., Sabry Abdel‐Hafez, PhD., (previously with Tetra Tech Canada Inc.)
and Micha el O’Brien P.Geo., Pr.Sci.Nat., who is an employee of QG Australia Pty Ltd (an ARANZ Geo
Company) and independent of Avino, as defined by Section 1.5 of NI 43-101.
Avino's projects are under the supervision of 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.
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
About Avino
Avino's 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, an d is currently planning for future production at
the Bralorne Gold Mine in British Columbia, Canada. The Company’s gold and silver production remain s
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 & CEO
Avino Silver & Gold Mines Ltd.
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 Litigat ion Reform Act of 1995, including our belief as to the extent and
timing of various studies including the PEA, and exploration results, anticipated capital costs and operational costs, the potential tonnage, grades and content of
deposits, timing and 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 occ ur. 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 negotiations and misjudgment s in the course of preparing
forward-looking information. In additi on, 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 fact ors 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 with certain other p rojects; 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 uncertainties as
set forth in our regulatory filings in Canada and the U.S. . Although we have attempted to id entify 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 int ended. 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 forwa rd-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 refe rence 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 Ex change 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 amou nt of mineraliz ation 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 are traded. U.S. inves tors 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 permitted disclosure under
Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by S EC standards as in place
tonnage and grade without reference to unit measures.
Neither the TSX Venture Exchange nor its Regulatio n 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.