Mr. David Wolfin reports

AVINO ACHIEVES STRONG PRODUCTION IN Q1 2024

Avino Silver & Gold Mines Ltd. had a strong first quarter start to the year with 629,302 silver equivalent (AgEq) ounces (oz) being produced.

Production highlights -- Q1 2024 (compared with Q4 2023):

• Silver equivalent production increased 13 per cent to 629,302 oz;
• Silver (Ag) production increased 12 per cent to 250,642 oz;
• Copper (Cu) production increased 2 per cent to 1.35 million pounds (Mlb);
• Gold (Au) production increased 22 per cent to 1,778 oz;
• Mill throughput increased 18 per cent to 169,595 tonnes.

"Two thousand twenty-four is off to a solid start with quarterly production of 629,302 ounces, tracking our production target for the year. With noted improvement to mill throughput of 18 per cent in the quarter compared to Q4 2023, the operations team was instrumental in achieving an overall silver equivalent production increase of 13 per cent. We have started milling an old stockpile from La Preciosa for metallurgical compatibility testing," said David Wolfin, president and chief executive officer of Avino. "We also look forward to receiving approval of the environmental permits for La Preciosa and being able to commence construction of the portal, haulage ramp, leading to mining of the Gloria and Abundancia veins. La Preciosa factors prominently into our five-year growth plan, and will deliver economic growth and benefit to the local communities in Durango. With the recent move up in silver price, the outlook for Avino looks more robust."

Two thousand twenty-four first quarter highlights:

• Production in line with expectations: Silver equivalent production of 629,302 ounces is within the company's guidance range and the company remains on schedule with its targeted full-year production of 2.5 million to 2.8 million silver equivalent ounces.
• La Preciosa: On Feb. 28, 2024, the company provided an update on recently completed and continuing work in connection with La Preciosa. Capital costs for 2024 are expected to be between $3-million (U.S.) and $4-million (U.S.), and will include surface works and equipment procurement intended for the first phase of mine development for the Gloria and Abundancia veins. Avino already has the mining equipment necessary to commence operations at La Preciosa. The application for the environmental permit has been submitted by the company to the relevant authorities. A further permit application will be submitted shortly after receipt of the environmental permit, which is required to commence the construction of the portal, haulage ramp, and the mining of the Gloria and Abundancia veins. Recent photos from the La Preciosa property can be viewed on the company's website.
• Prefeasibility study (PFS) -- oxide tailings project: On Feb. 5, 2024, the company announced the completion of the prefeasibility study for its oxide tailings project (OTP) at the Avino mine operations. The completion of the PFS is a key milestone in the company's growth trajectory:
  • The study highlighted inaugural proven and probable mineral reserves, a first in Avino's long history, 6.7 million tonnes at a silver and gold grade of 55 g/t and 0.47 g/t, respectively.
  • The OTP is one of the company's three catalysts for gold and silver production growth.
• Avino signed community agreement for La Preciosa: On Jan. 9, 2024, Avino signed a long-term land-use agreement with a local community for the development of La Preciosa in Durango, Mexico. This achievement signalled the start of a new era for Avino and the communities adjacent to the mine as it meant another step closer to putting La Preciosa into production.
• Dry-stack tailings facility completed and operational: With the rearrangement of the company's handling of tailings as a result of the completed dry-stack tailings facility, which has been in use for over a year, the prior method of wet tailings deposition is no longer in use. A tab is available on the company's website that provides further information on its tailings management system, along with videos (in English and Spanish) that can be viewed. In addition, a selection of short videos of the facility in operation can be viewed on the company's website, under videos and media.

Quality assurance/quality control

Mill assays are performed at the Avino property's on site lab. 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, is a qualified person within the context of National Instrument 43-101, who 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 intends to maintain long-term sustainable and profitable mining operations to reward shareholders and the community alike through its growth at the historic Avino property and the strategic acquisition of the adjacent La Preciosa, which was finalized in Q1 2022. Avino currently controls mineral resources, as per National Instrument 43-101, with a total mineral content of 371 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.

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