Mr. David Wolfin reports

AVINO'S Q3 2023 PRODUCTION RESULTS

Avino Silver & Gold Mines Ltd. achieved production results of 591,208 silver equivalent ounces in the third quarter of 2023, bringing the 12-month trailing total to 2.63 million silver equivalent ounces, from the Avino mine.

Production highlights -- Q3 2023:

• Silver equivalent production was 591,208 ounces.
• Silver production was 237,165 oz.
• Copper production was 1.14 million pounds.
• Gold production increased 73 per cent to 2,077 oz.
• Mill throughput was 154,507 tonnes.

"The Avino mine continued to provide consistent production results in the third quarter of 2023, albeit impacted by mining in lower-copper-grade areas and lower recovery rates," said David Wolfin, president and chief executive officer of Avino. "Although we had lower copper grades, we did see an increase in gold grade that managed to offset some of the production shortfall. We have made improvements in the mechanical equipment of the mill and expect recovery rates to improve along with grades as we move into higher-grade zones inline with the projected sequence. On the exploration side, we are thrilled with the additional and outstanding drill results from below Level 17 released in mid-September. The drill results continue to demonstrate that the Avino vein continues at depth. We remain focused on the execution of our five-year growth plan with the oxide tailings PFS [prefeasibility study] due by early Q1 2024. Additionally, the company has stepped up its community relations activities around the mine area."

Third quarter 2023 highlights:

• Consistent production at Avino -- The silver equivalent production was steady, albeit lower, compared with Q3 2022 and decreased by 24 per cent to 591,208 ounces.
• Avino released continuing exceptional drill results -- On Sept. 14, 2023, the company released the results of a further four holes from below Level 17, the current deepest workings at the Elena Tolosa (ET) area of the Avino system. These latest deep stepout holes test the southwest extent of the robust Avino vein, and one infill hole was drilled to confirm local continuity. This drilling follows the continuity of the steeply dipping mineralization and aids in understanding the deep source of the mineralization. The company is looking at the potential geometry and controls of the mineralization to come up with a model. Avino has completed its planned and budgeted drilling program for the year by drilling 7,545 metres in 13 drill holes. The company's geologists on site are working through the recommendations made by its consulting geologists to study the potential of the entire orebody. The 2023 results will be reviewed to determine exploration plans and budget for 2024.
• Avino released best drill intercept in company history -- On July 5, 2023, the company released the results of three holes from below Level 17, the current deepest workings at the ET area of the Avino system. Drill hole ET-23-09 showed 57 metres (true width) of mineralization and is a stepout 50 metres to the west of Avino's westernmost drill hole at 200 metres down dip below Level 17. This mineralized intercept is exceptionally wide and has very high silver, gold and copper grades. The vein system continues to be open along strike and at depth.
• Oxide tailings project -- The metallurgical results from the testwork program were completed in April and are forming the basis of the metallurgical analysis in a continuing prefeasibility study on the project. This project has been in the company's portfolio for many years and factors prominently into its five-year growth plan to become an intermediate silver producer in Mexico. These results also build on the studies in the 2017 preliminary economic assessment and increase the level of confidence in the project through the extensive testwork completed. In the February, 2023, mineral resource estimate update, the oxide tailings mineral resource was increased by 407 per cent in the measured and indicated categories to total 5.7 million tonnes, and an increase of 287 per cent to the silver equivalent ounces resulting in 17.4 million.
• Dry-stack tailings facility -- The facility has been fully operational for a year. The conveyor system is installed and is currently transporting the pressed dry residues to the Avino open-pit area. A tab is now available on the company's website that provides further information on its tailings management system, along with a video (in English and Spanish) from the mine site that can be viewed. In addition, a selection of short videos of the facility in operation can be viewed.
• La Preciosa update -- The company continues to conduct community engagement in the nearby towns adjacent to the property. Avino is fully committed to moving this project forward as it factors prominently in the company's five-year growth strategy.

Adjusting internal production estimate

Based on year-to-date production and the current timeline associated with processing the previously mentioned surface material from La Preciosa, the company is adjusting its internal production estimate to 2.4 million to 2.7 million silver equivalent ounces for 2023.

Quality assurance/quality control

Mill assays are performed at the Avino property's on-site laboratory. Check samples were submitted to SGS Labs in Durango, Mexico, for verification. Gold and silver assays are performed by the fire assay method with a gravimetric finish for concentrates, and AAS (atomic absorption spectrometry) methods for copper, lead, zinc and silver for feed and tail grade samples. All concentrate shipments are assayed by one of the following independent third party labs: Inspectorate in the United Kingdom, LSI in the Netherlands, and AHK.

Qualified person

Peter Latta, PEng, MBA, Avino's vice-president of technical services, a qualified person within the context of National Instrument 43-101, has reviewed and approved the technical data in this news release.

About Avino Silver & Gold Mines Ltd.

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 historical Avino property and the strategic acquisition of the La Preciosa property. Avino currently controls mineral resources, as per NI 43-101, that total 368 million silver equivalent ounces, within its district-scale land package. The company is committed 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 it operates.

We seek Safe Harbor.