Favourable Metallurgical Results from Avino’S Oxide Tailings Project
April 5, 2023
FAVOURABLE METALLURGICAL RESULTS FROM AVINO’S OXIDE TAILINGS PROJECT
Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; FSE: GV6, "Avino" or "the Company") a growing silver producer in Mexico,
is pleased to announce metallurgical results from the testwork program on its oxide tailings project (“Oxide Tailings” or the “Project”).
The Project hosts gold and silver from past producing historic operations in an inactive tailings facility located on the Avi no property
with a 5.7 million tonnes of measured and indicated resource grading 95 g/t of silver equivalent. Historically, near surface oxidised
material was not recovered well by Avino’s conventional flotation mill, which has created this opportunity for re-processing the tailings
with a cyanide leaching process.
These results below will form the basis for the metallurgical analysis of a Pre-Feasibility Study (“PFS”) on the Project.
In addition, a table can be viewed at the end of this release showing a comparison between the 2021 and 2023 mineral resource
estimate on the Oxide Tailings as contained in the respective technical reports which can also be viewed on Avino’s profile o n SEDAR.
“We are very pleased with these metallurgical results, which demons trate excellent metal recoveries that would be suitable for a
precipitating into bullion,” commented CEO David Wolfin. “Metallurgy is an important component in understanding the potential
economics of our Oxide Tailings project. This Project has been in our portfolio for many years and factors prominently into our five-
year growth plan to become an intermediate silver producer in Mexico. These results also build on the work done in 2017 Preliminary
Economic Assessment (“ PEA”) and increase the level of confidence in the Project from the extensive testwork completed. When
comparing the most recent mineral resource estimate to the one completed in 2021, we see in the measured and indicated category
an impressive 408% increase in tonnage, as well as a 287% increase in AgEq ounces. The potential of the Oxide Tailings resource has
been known for many years but buried under the active tailings dam. With the new state of the art Dry-Stack Tailings facility now fully
operational, we can advance the oxide tailings project to the prefeasibility study level. These results along with the ongoing testwork
program will allow us to make sound decisions on the processing route to maximize the project value.”
Highlights of Metallurgical Test Results
The project consists of three types of tailings that are categorized by grade as well as identified in three stratigraphic layers within the
deposit based on the time period when they were processed. They are, Ancient Oxides, Recent Oxides and Sulphides, and each type
was sampled and tested separately. The average grades are shown below.
Table 1: Average Grade of Each Tailings Type
Sample Description Au g/t Ag g/t
Ancient Oxides Original
Duplicate
0.45
0.43
101.0
92.0
Recent Oxides Original
Duplicate
0.48
0.49
37.0
49.0
Sulphides Original
Duplicate
0.24
0.25
21.0
19.0
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
Avino Silver & Gold Mines Ltd. – April 5, 2023
Favourable Metallurgical Results from Avino’s Oxide Tailings Project
Page 2
The project exhibits an excellent response using conventional metallurgical techniques.
Recovery Highlights include:
Ancient Oxides
Gold Recovery up to 89.5% and silver recovery of up 90.4% in a conventional bottle roll.
Recent Oxides
Gold Recovery up to 85.8% and silver recovery of up 83.4% in a conventional bottle roll.
Sulphides
Gold Recovery up to 82.8% and silver recovery of up 76.1% in a conventional bottle roll.
The conventional bottle roll test parameters for the three samples were achieved at a particle size of eighty percent passing 75 microns
using 500 to 1000ppm sodium cyanide and a retention time of 60-72 hours. The metallurgical test program was completed by SGS de
Mexico (“SGS”), a leading metallurgical testing and consulting firm based in Durango Mexico. The testwork was complet ed on a
composite sample from approximately 437 kg of HQ core from a sonic drill from 127 drill holes drilled into the oxide tailings resource
in 2021 and 2022. Each type of tailings was identified and separated so that a composite for each style of taili ngs could be created.
Both the deposition style and appearance of the tailings within the drill core allowed for relatively straight forward categorization. The
sulphides section used 158.9 kg of sample, the ancient oxides used 135.5 kg and the recent oxides 142.7 kg.
The testwork program included chemical analysis, size fraction analysis, agglomeration, bulk leaching extractable gold test, bottle
roll test to simulate agitated leaching, column leaching tests to simulate heap leaching, flotation, and cyanide detoxification using
sodium hypochlorite.
Testwork Program Results
Flotation was investigated at a variety of grind sizes, reagent levels and operating conditions. A Bulk leach extractable gold test was
performed to understand the leaching response of each respective size fraction on each sample. While each size fraction of each
sample did show a variation in leaching performance it was determined that there were not significant portions of gold locked away
rendering any sample unleachable. With that in mind, various leaching conditions and three particle sizes were invest igated per
sample. Each sample performed best with a 75um (“micron”) grind size, furthermore it did not appear that the addition of lead nitrate
or oxygen provided superior leach results. Finally, a column leach test was performed on each sample in order t o replicate the
performance of a potential heap leach. The flotation, agitated leach and column leach results are shown per sample are shown below.
Table 2: Summary of Recoveries for the Sulphides Sample
Description Au
%
Ag
%
Flotation
Agitation leaching
Heap leaching
45.8
82.7
74.0
46.5
68.9
88.8
Table 3: Summary of Recoveries for the Ancient Oxide Sample
Description Au
%
Ag
%
Flotation
Agitation leaching
Heap leaching
46.3
88.2
75.5
45.5
86.0
76.2
Avino Silver & Gold Mines Ltd. – April 5, 2023
Favourable Metallurgical Results from Avino’s Oxide Tailings Project
Page 4
Table 4: Summary of Recoveries for the Recent Oxide Sample
Description Au
%
Ag
%
Flotation
Agitation leaching
Heap leaching
47.6
85.7
76.0
45.5
78.6
63.7
Ongoing Testwork
In addition to these leaching and flotation results, ongoing testing consists of the thickening, filtering, communition optim ization,
cyanide detoxification, gravity testwork as well as specific gravity and bulk density testwork that will be fed into the PFS for appropriate
flowsheet design, sizing and costing.
Oxide Tailings Mineral Resource Comparison Table
2023 Mineral
Resource Estimate¹
2021 Mineral
Resource Estimate² Net Change
Measured Resources Mt 3,809,000 - ∞%
Grade Ag g/t 63 - ∞%
Grade Au g/t 0.48 - ∞%
Grade AgEq g/t 102 - ∞%
Metal Contents Ag Moz 7.7 - ∞%
Metal Contents Au Koz 59 - ∞%
Metal Contents AgEq Moz 12.5 - ∞%
Indicated Resources Mt 1,877,000 1,120,000 68%
Grade Ag g/t 41 89 -54%
Grade Au g/t 0.49 0.42 17%
Grade AgEq g/t 81 124 -35%
Metal Contents Ag Moz 2.5 3.2 -22%
Metal Contents Au Koz 30 15 100%
Metal Contents AgEq Moz 4.9 4.5 9%
Measured and Indicated
Resources Mt 5,686,000 1,120,000 408%
Grade Ag g/t 56 89 -37%
Grade Au g/t 0.48 0.42 14%
Grade AgEq g/t 95 124 -23%
Metal Contents Ag Moz 10.2 3.2 219%
Metal Contents Au Koz 88 15 487%
Metal Contents AgEq Moz 17.4 4.5 287%
Inferred Resources Mt 278,000 1,230,000 -77%
Grade Ag g/t 65 85 -24%
Grade Au g/t 0.44 0.47 -6%
Grade AgEq g/t 101 125 -19%
Metal Contents Ag Moz 0.6 3.4 -82%
Metal Contents Au Koz 4 19 -79%
Metal Contents AgEq Moz 0.9 5.0 -82%
¹ Reference: Mineral Resource Estimate Update for the Avino Property, Durango, Mexico with an effective date of November 30, 2022, and SEDAR filed on SEDAR on
February 16, 2023
² Reference: Amended Resource Estimate Update For The Avino Property, Durango, Mexico with an effective date of January 13, 2021 and SEDAR filed on December
21, 2021.
To view these reports in their entirety, please refer to Avino’s profile on SEDAR at www.sedar.com.
Avino Silver & Gold Mines Ltd. – April 5, 2023
Favourable Metallurgical Results from Avino’s Oxide Tailings Project
Page 5
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 producer from its wholly owned Avino Mine near Durango, Mexico. The Company’s silver, gold and copper 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 and the strategic acquisition of the La Preciosa property. Avino currently controls mineral re sources, as
per NI 43-101, that total 368 million silver equivalent ounces, within our district -scale land package. We are co mmitted to managing
all 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. To view the Avino Mine VRIFY tour, please click here.
ON BEHALF OF THE BOARD
“David Wolfin”
________________________________
David Wolfin
President & CEO
Avino Silver & Gold Mines Ltd.
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 amended mineral resource estimate for the Company’s Avino Property located
near Durango in west-central Mexico (the “Avino Property”) with an effective date of November 30, 2022, and the Company’s updated mineral resource estimate for La Preciosa
with an effective date of October 27, 2021, prepared for the Company, and references 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, 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 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 di ffer 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
associated with mining and mineral processing; the COVID-19 pandemic; volatility in the global financial markets; 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 projects; 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. 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 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. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws. For more detailed information
regarding the Company including its risk factors, investors are directed to the Company’s Annual Report on Form 40-F and other periodic reports that it files with the U.S. Securities
and Exchange Commission.
References to Measured & Indicated Mineral Resources and Inferred Mineral Resources in this press release are terms that are defined under Canadian rules by National Instrument
43-101 (“NI 43-101”). On October 31, 2018, the US Securities and Exchange Commission adopted Item 1300 of Regulation S -K (“Regulation SK-1300”) to modernize the property
disclosure requirements for mining registrants, and related guidance, under the Securities Act of 1933 and the Securities Exchange Act of 1934. All registrants are required to comply
with Regulation SK-1300 for fiscal years ending after January 1, 2021. Regulation SK-1300 uses the Committee for Mineral Reserves International Reporting Standards (“CRIRSCO”)
based classification scheme for mineral resources and mineral reserves, that includes definitions for inf erred, indicated, and measured mineral resources. U.S. Investors are
cautioned not to assume that any part of the mineral resources in these categories will ever be converted into probable or proven mineral reserves within the meaning of Regulation
S-K 1300.