Mr. David Wolfin reports

AVINO HIGHLIGHTS STRONG Q4 AND FULL YEAR 2024 PRODUCTION RESULTS

Avino Silver & Gold Mines Ltd.'s fourth quarter production totalled 735,557 silver equivalent ounces, and full year 2024 production results of 2.65 million silver equivalent ounces.

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

• Silver equivalent production increased 32 per cent: Avino produced 735,557 silver equivalent ounces in Q4 2024, representing a 32-per-cent increase from Q4 of 2023 and a 10-per-cent increase compared with the previous quarter. The increase was driven by improved gold grades and increased mill throughput.
• Mill throughput increased 26 per cent: The company processed 181,733 tonnes in Q4 2024, a 26-per-cent increase compared with Q4 2023, and the highest quarter in the company's history. Mill availability and performance is a result of considerable efforts from the company's operations team in Durango, allowing for meaningful improvements in operational metrics, as well as improving the company's cash and working capital positions.
• Gold production increased 76 per cent: Q4 2024 production of 2,560 gold ounces represented a 76-per-cent increase compared with Q4 2023 and was the company's highest quarter of gold production in 2024. Improved feed grade accounted for the majority of the increase, alongside the mill availability noted above.
• Silver equivalent production increased 10 per cent: Avino produced 2,652,498 silver equivalent ounces in 2024, representing a 10-per-cent increase from 2023. The positive movement was primarily due to improved copper and silver grades, improved copper recoveries, and higher mill feed compared with 2023. Full year production results were within the company's production estimate of 2.5 million to 2.8 million silver equivalent ounces, even after adjusting for changes in metal prices throughout 2024. Silver equivalent production for the year would have been 2.73 million silver equivalent ounces using original budget metal prices, at the upper end of the company's production estimate range.
• Health and safety performance improvements: The company achieved a reduction in lost-time incident frequency rate (LTIFR) of 32 per cent for 2024 to 3.39 per one million hours worked, while seeing an increase in hours worked by 47 per cent at the Avino operations. Reportable lost-time incident frequency rate also decreased to 0.07, down over 90 per cent from 2023.

"Our team closed out the fourth quarter with our highest quarter of production this year, capping off an impressive performance in the second half of 2024," said David Wolfin, president and chief executive officer of Avino. "In the final quarter of the year, all mill circuits operated exceptionally well, overcoming the crusher challenges faced earlier in Q2, with mill availability and throughput at an all-time quarterly high. Our focus on cost management continues to yield results, with mining costs notably decreasing. Improved mill availability, higher feed grades and better copper recoveries all contributed to meeting our production estimate of 2.5 to 2.8 million silver equivalent ounces. We ended the year on a high note, with final quarter results surpassing our goals by a significant margin. Looking ahead, our operations team will be in expansion mode, as La Preciosa development is now under way."

Balance sheet update

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 the company's transformational growth plans, which will be further outlined in its 2025 outlook.

La Preciosa update

As previously announced on Jan. 15, 2025, Avino has started underground development work at La Preciosa after receiving all required permits.

2025 outlook and 2024 year in review

The company will release its plans for 2025, and a review of accomplishments and milestones achieved in 2024 in the coming weeks.

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(s)

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 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.

We seek Safe Harbor.