08:31:11 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Avino Silver & Gold Mines Ltd
Symbol ASM
Shares Issued 125,751,668
Close 2024-01-09 C$ 0.63
Market Cap C$ 79,223,551
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Avino Silver signs land use agreement for La Preciosa

2024-01-09 10:08 ET - News Release

Mr. David Wolfin reports

AVINO SIGNS COMMUNITY AGREEMENTS FOR LA PRECIOSA

Avino Silver & Gold Mines Ltd. has signed a long-term land use agreement with a local community for the development of La Preciosa in Durango, Mexico. La Preciosa hosts one of the largest undeveloped primary silver resources in Mexico and is located approximately 19 kilometres from the current Avino mine production operations, which has an operating 2,500-tonne-per-day mill processing facility and all the necessary infrastructure to allow for mineral processing from La Preciosa.

"This is a fantastic achievement and signals the start of a new era for Avino and the communities adjacent to the mine as we are one crucial step closer to putting La Preciosa into production," said David Wolfin, president and chief executive officer of Avino. "With this long-term land use agreement in place, we can commence hauling of old surface stockpiles to our mill for processing. We are now able to begin the filing of our environmental permit for underground extraction. Pending regulatory approval, we can start developing the ramp-down to our initial target of the high-grade Gloria vein. The La Preciosa mine represents a key pillar in our transformational growth strategy as well as hosting a large endowment of silver and gold resources which we expect to process for years to come. We are delighted to work with our local community stakeholders to come to this amicable and co-operative result."

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 are to create shareholder value through its focus on profitable organic growth at the historic Avino property and the strategic acquisition of the adjacent La Preciosa project, which was finalized in Q1 2022. Avino currently controls mineral resources, as per National Instrument 43-101, with a total mineral content of 368 million silver equivalent ounces, within the company's district-scale land package. Avino 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 the company operates.

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