ASM Avino Silver And Gold Mines Ltd (delisted)

Avino Silver & Gold Mines Ltd. (TSX VENTURE:ASM)(NYSE Amex:ASM)(NYSE
MKT:ASM)(BERLIN:GV6)(FRANKFURT:GV6) ("Avino" or "the Company"), is pleased to
announce that it has entered into an option and joint venture agreement with
Endeavour Silver Corp. ("Endeavour"), whereby Endeavour was granted the option
to acquire up to a 75% interest in the Laberinto Property ("the Property"),
Durango State, Mexico, consisting of approximately 91.7 hectares. In order to
exercise the option, Endeavour must pay up to US $200,000 in annual installments
over 4 years to Avino in option payments, and incur up to US$3 million in
exploration work on the Property over the next 4 years. 


Upon Endeavour acquiring its 75% interest, a joint venture will be formed, under
which if any party does not contribute its proportionate share of costs, its
participating interest will be diluted on a pro rata basis according to the
contributions of all parties. If any party's participating interest is reduced
to 10% or less, then its interest will be automatically converted into a 2.5%
net smelter returns royalty.


The El Laberinto property is situated 60 km's NE of Durango, Mexico and 25 km
west of Avino's main mine. It occurs in the Sierra La Silla (hills) which form
part of a large volcanic caldera which also contains Avino's main holdings. The
Sierra La Silla area contains many silver, gold, lead, zinc and copper veins
similar to those at Avino which are also situated in the lower volcanic Andesite
sequence.


El Laberinto is a small property today and is a remnant of a much larger land
package in the area once controlled by Avino.


During 1995 Avino mapped the La Silla area and sampled the principal veins.
Avino had assembled the land package in the district in search of another Avino
main vein. (Report August 1995)


Avino drove an adit on the Veta Grande ("Big Vein") in late 1995. Values of
silver and gold were sub economic. The adit was stopped at approximately 300
meters length before it reached the main shoot described in the 1995 report.
Three holes were drilled below the adit, assays are unavailable.


Avino does not consider that the Big Vein has been adequately explored to date.
Although the adit showed low values, it didn't reach the principal shoot and was
likely too high on the vein structure.


The disclosure of the technical information contained in this news release has
been reviewed and approved by Mr. Chris Sampson, P.Eng., and Mr. Jasman Yee,
P.Eng., who are Qualified Persons as defined by NI 43-101. 


ON BEHALF OF THE BOARD

David Wolfin, President & CEO

Safe Harbour Statement - This news release contains "forward-looking
information" and "forward-looking statements" (together, the "forward looking
statements") within the meaning of applicable securities laws and the United
States Private Securities Litigation Reform Act of 1995, including our belief as
to the extent and timing of various studies, and exploration results, the
potential tonnage, grades and content of deposits, timing and establishment and
extent of resources estimates. These forward-looking statements are made as of
the date of this news release and the dates of technical reports, as applicable.
Readers are cautioned not to place undue reliance on forward-looking statements,
as there can be no assurance that the future circumstances, outcomes or results
anticipated in or implied by such forward-looking statements will occur or that
plans, intentions or expectations upon which the forward-looking statements are
based will occur. While we have based these forward-looking statements on our
expectations about future events as at the date that such statements were
prepared, the statements are not a guarantee that such future events will occur
and are subject to risks, uncertainties, assumptions and other factors which
could cause events or outcomes to differ materially from those expressed or
implied by such forward-looking statements.


Such factors and assumptions include, among others, the effects of general
economic conditions, the price of gold and silver, changing foreign exchange
rates and actions by government authorities, uncertainties associated with legal
proceedings and negotiations and misjudgments in the course of preparing
forward-looking information. In addition, there are known and unknown risk
factors which could cause our actual results, performance or achievements to
differ materially from any future results, performance or achievements expressed
or implied by the forward-looking statements. Known risk factors include risks
associated with project development; the need for additional financing;
operational risks associated with mining and mineral processing; fluctuations in
metal prices; title matters; uncertainties and risks related to carrying on
business in foreign countries; environmental liability claims and insurance;
reliance on key personnel; the potential for conflicts of interest among certain
of our officers, directors or promoters of with certain other projects; the
absence of dividends; currency fluctuations; competition; dilution; the
volatility of the our common share price and volume; tax consequences to U.S.
investors; and other risks and uncertainties. Although we have attempted to
identify important factors that could cause actual actions, events or results to
differ materially from those described in forward-looking statements, there may
be other factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements. We are under no
obligation to update or alter any forward-looking statements except as required
under applicable securities laws.


Cautionary Note to United States Investors - The information contained herein
and incorporated by reference herein has been prepared in accordance with the
requirements of Canadian securities laws, which differ from the requirements of
United States securities laws. In particular, the term "resource" does not
equate to the term "reserve". The Securities Exchange Commission's (the "SEC")
disclosure standards normally do not permit the inclusion of information
concerning "measured mineral resources", "indicated mineral resources" or
"inferred mineral resources" or other descriptions of the amount of
mineralization in mineral deposits that do not constitute "reserves" by SEC
standards, unless such information is required to be disclosed by the law of the
Company's jurisdiction of incorporation or of a jurisdiction in which its
securities are traded. U.S. investors should also understand that "inferred
mineral resources" have a great amount of uncertainty as to their existence and
great uncertainty as to their economic and legal feasibility. Disclosure of
"contained ounces" is permitted disclosure under Canadian regulations; however,
the SEC normally only permits issuers to report mineralization that does not
constitute "reserves" by SEC standards as in place tonnage and grade without
reference to unit measures.

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