Avino

Avino Silver & Gold Mines Ltd. announced an updated mineral resource estimate for the Company’s Avino Property on February 16, 2023, with an effective date of November 30, 2022. The updated estimate includes the Property’s Avino Mine (Elena Tolosa – “ET”) deposit, the San Gonzalo deposit, and the Property’s Oxide Tailings. Inaugural mineral resource estimates have also been included on the Guadelupe and La Potosina deposits. The mineral resources estimate has been included in an updated technical report prepared by Tetra Tech Inc. under National Instrument 43-101 (“NI-43-101”), which is available on SEDAR (www.sedar.com) under the Company’s profile and filed on Form 6-K with the SEC. The technical report can also be found on our website here.

The Qualified Persons as defined by NI 43-101, who are responsible for the technical content appearing on this page are Michael O’Brien P.Geo., Senior Principal Consultant, Red Pennant Geoscience, and under the supervision of Peter Latta, P.Eng, Avino’s VP, Technical Services, both of whom are qualified persons within the context of NI 43-101.

Avino Property Highlights (Comparisons are to 2020 Mineral Resource Estimate on the Avino Property):

• 161 million measured and indicated silver equivalent ounces, an increase of 38%, made up of:
• 70 million silver ounces, an increase of 35%
• 136.7 thousand copper tonnes, an increase of 18%
• 596 thousand gold ounces, an increase of 23%, contained in:
• 34.7 million measured and indicated metric tonnes, increase of 28% overall, also
• 70 million inferred silver equivalent ounces, an increase of 90%

Oxide Tailings Highlights (Comparisons are to 2020 Mineral Resource Estimate on the Avino Property)

• 5.7 million tonnes of measured and indicated mineral resources, and increase of 407%
• 17.4 million measured and indicated silver equivalent ounces, an increase of 287%

Mineral Resources at the Avino Property

1. Figures may not add to totals shown due to rounding. All ounces are troy ounces.
2. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
3. The Mineral Resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s (CIM) Definition Standards for Mineral Resources and Mineral Reserves incorporated by reference into National Instrument 43-101 (NI 43-101) Standards of Disclosure for Mineral Projects.
4. Based on recent mining costs Mineral Resources are reported at AgEq cut-off grades of 60 g/t, 130 g/t, and 50 g/t for ET, San Gonzalo, and Oxide Tailings, respectively. The cut-off grades for Guadalupe and La Potosina are 100 g/t.
5. AgEQ or silver equivalent ounces are notional, based on the combined value of metals expressed as silver ounces.
6. The silver equivalent was back-calculated using the following formulas:
   1. ET, Guadalupe, La Potosina: AgEq (g/t) = Ag (g/t) + (71.43 x Au (g/t) + (113.04 x Cu (%))
   2. San Gonzalo: AgEq (g/t) = Ag (g/t) + (75.39 x Au (g/t))
   3. Oxide Tailings: AgEq (g/t) = Ag (g/t) + (81.53 x Au (g/t))
7. Cut-off grades were calculated using the following consensus metal price assumptions: gold price of US$1,800/oz, silver price of US$21.00/oz, and copper price of US$3.50/lb.
8. Metal recovery is based on operational results and column testing.