Mr. David Wolfin reports

AVINO COMMENCES UNDERGROUND DEVELOPMENT AT LA PRECIOSA

Avino Silver & Gold Mines Ltd. has commenced underground development at its 100-per-cent-owned La Preciosa property has commenced following receipt of all required permits for mining operations.

"This milestone achievement is a testament to the dedication and vision of the entire Avino team," said David Wolfin, president and chief executive officer of Avino. "It underscores our firm commitment to responsible development and transformational growth. The receipt of all required permits marks the culmination of lengthy collaboration with federal and state regulators as well as meaningful engagement with community leaders. This step marks a significant milestone for Avino as we move one of Mexico's largest undeveloped silver deposits forward. La Preciosa represents higher silver grades than currently being mined and processed at Avino. This, coupled with robust metal prices, is setting Avino up for a strong 2025 and beyond. We would like to thank our experienced and devoted team, who completed the rigorous permit process culminating in this successful approval. Furthermore, we commend everyone involved for their role in advancing La Preciosa and all those who share our vision for a better future for local communities and stakeholders."

With many of the necessary outbuildings completed, Avino has pro-actively prepared its mining fleet and is now advancing the development of a 350-metre mine access and haulage decline. This is designed to intercept the high-grade La Gloria and Abundancia veins, aligning with the company's mine development plan.

Beyond direct job creation, activities at La Preciosa are expected to drive local economic growth, including the generation of both direct and indirect employment opportunities among local suppliers, subcontractors and community groups. Avino is committed to operating La Preciosa with a small environmental footprint and in an economically sustainable manner.

Development for the first phase at La Preciosa is expected to be under $5-million and will be financed from cash reserves. Avino had approximately $26-million in cash at the end of 2024 and remains debt-free, excluding operating equipment leases, demonstrating significant cash flow generation throughout Q4 2024. The company's strong balance sheet and working capital will provide the foundation to support its transformational growth plans, which will be further outlined in Avino's 2025 outlook.

About La Preciosa

La Preciosa hosts one of the largest undeveloped primary silver resources in Mexico and is located approximately 19 kilometres from the company's Avino mine 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.

La Preciosa's mineral resource inventory significantly increased Avino's consolidated National Instrument 43-101 mineral resources, which is currently 371 million silver equivalent ounces.

The current mineral resources for La Preciosa are summarized below. These resources were previously disclosed and are reported in the most recent technical report, effective Feb. 5, 2024, and it is available on SEDAR+ or on EDGAR+, and, as well, the report can be viewed on the Avino website.

Qualified person

Peter Latta, PEng, MBA, Avino's vice-president, technical services, is a qualified person within the context of NI 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 NI 43-101, with a total mineral content of 371 million silver equivalent ounces, within the company's district-scale land package. Early in 2024, the prefeasibility study on the oxide tailings project was completed. This study is a key milestone in the company's growth trajectory. As part of Avino's commitment to adopting sustainable practices, the company has been operating a dry-stack tailings facility for more than one year now with excellent results. 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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