The TSX Venture Exchange has accepted for filing an option agreement dated Jan. 3, 2012, between Avino Silver & Gold Mines Ltd. and Avaron Mining Corp. (Kevin Drover, Miloje Vicentijevic, Gordon F. Bub, Dennis Johnson and Intermark Capital Corp. -- David Wolfin), whereby Avaron has been granted an option to purchase up to an undivided 100-per-cent title an interest in the Eagle property located in the Keno Hill silver district in the Yukon. Consideration is $375,000, 800,000 common shares of Avaron and $7.1-million in exploration expenditures or 35,000 metres of drilling. After earning a 75-per-cent interest, Avaron may either elect to form a joint venture or has the following options to earn the remaining 25-per-cent interest:

• Option No. 1 -- within the next six months to place the property into production and commence commercial production within three years, subject to a 2.5-per-cent net smelter return and a minimum $200,000 annual advance royalty payments payable for five years or until production begins;
• Option No. 2 -- if Avaron does not elect to place the property into production, it must pay $100,000 annual advance royalty payments and 250,000 common shares to the company on or before each of sixth and seventh anniversaries of the execution date and at its sole expense, complete drilling of an additional 10,000 metres in depth on the property or incur an additional $2-million in exploration cost in lieu of such drilling on or before the seventh anniversary of the execution date.