Avino Silver & Gold Mines Sets Sights on Strong 2025 Following Record 2024 Achievements

Avino Silver & Gold Mines, a long-standing silver producer in Mexico, has shared its optimistic outlook for 2025 after a milestone-filled 2024. President and CEO David Wolfin highlighted the company’s strong operating results from the Avino Mine and a record-breaking financial performance in the fourth quarter as key factors positioning Avino for continued success in the coming year.

“Many major milestones were achieved in 2024, including the release of the Pre-Feasibility Study for the Oxide Tailings Project, which demonstrated positive economic results that continue to improve with current metal prices,” said Wolfin. He also pointed to the long-term land-use agreement at La Preciosa, which facilitated the completion of surface works and the start of underground development, with the project set to enter production in 2025.2025 Outlook

Avino plans to process between 700,000 and 750,000 tonnes of material from both the Avino Mine and La Preciosa, with an expected production of 2.5 to 2.8 million silver equivalent ounces. The first half of the year will primarily rely on material from the Avino Mine, while La Preciosa’s output is expected in the second half.

The company remains financially robust, ending 2024 with approximately $26 million in cash and no debt aside from equipment leases. This strong balance sheet will support Avino’s transformational growth plans.Capital Budget for 2025

• Growth Capital: $6-8 million
• Exploration & Evaluation: $1-2 million
• Sustaining Capital & Mine Development: $6-8 million
• Total Capital Budget: $13-18 million

Growth capital will fund underground development at La Preciosa, deeper mine development at Avino, and upgrades to mill and processing facilities. Exploration efforts will focus on the Avino Vein and Guadalupe Vein, with additional regional exploration around both sites.2024 Achievements

• Record Revenues: Achieved in Q2 and matched in Q3, driven by increased production and higher metal prices.
• Production Increases: Avino Mine produced 735,557 silver equivalent ounces in Q4 2024, a 32% increase from the previous year. Gold production rose 76% year-over-year.
• Health and Safety: Reduced Lost Time Incident Frequency Rate by 32% and achieved a 90% reduction in reportable incidents.
• La Preciosa: Secured a long-term land-use agreement, completed surface works, and commenced underground development.
• Oxide Tailings Project: The Pre-Feasibility Study showed an after-tax NPV5% of $61 million, with potential to double based on current metal prices.