ASM Avino Silver And Gold Mines Ltd (delisted)

Avino Silver & Gold Mines Ltd. (TSX VENTURE:ASM)(NYSE MKT:ASM)(NYSE
Amex:ASM)(FRANKFURT:GV6) ("Avino" or "the Company") is pleased to report its
financial results for the year ended December 31, 2013. All financial
information is prepared in accordance with IFRS and all dollar amounts are
expressed in Canadian dollars unless otherwise specified. The information in
this news release should be read in conjunction with the Company's audited
consolidated financial statements for the year ended December 31, 2013 and
associated management discussion and analysis ("MD&A") which are available on
the Company's website at www.avino.com and under the Company's profile on SEDAR
at www.sedar.com. 


"We are very pleased to report our earnings for the year ended December 31, 2013
which reflects a full year of production at our San Gonzalo Mine. Our financial
results are strong and particularly satisfying given the environment of
fluctuating metal prices," stated Malcolm Davidson, CFO. "Our teams in Mexico
and Canada have worked hard to manage costs and increase production which has
helped significantly to earn an after tax profit of $842,212 or $0.03 per share.



Highlights of Fiscal 2013 (Compared to Fiscal 2012) 

Financial 



--  Revenues reported for year were $16,094,701 compared to $2,255,376 in
    2012, an increase of 600% 
--  Income from mine operations was $7,126,292, an increase of $6,305,485 
--  General and administrative expenses $4,247,431 compared to $1,929,746 in
    2012 
--  Earnings before income taxes was $3,409,212 compared to a loss of
    $1,002,857 in 2012  
--  Earnings for the year were $848,212, an increase of $2,111,390 from 2012
--  Earnings per share - basic and diluted $0.03 
--  Average realized prices per ounce of silver and gold were $22.59 and
    $1,342.07 respectively 
--  Cash cost per AgEq ounce decreased from $14.22 in 2012 to $10.16 in 2013
--  Consolidated all-in sustaining cash cost per AgEq ounce was $14.39 



Operational(i) 



--  Silver production increased 264% to 698,076 oz 
--  Gold production increased 162% to 3,243 oz 
--  Silver equivalent production increased 253% to 895,240 oz(ii) 
--  Concentrate inventory available for sale at year-end was 183.170 dry
    metric tonnes 
--  Successfully added a second 250 TPD circuit to process Avino Mine
    surface stockpiles 



(i)During the first three quarters of 2012, the Company was considered an
exploration stage company and the proceeds from the sale of bulk concentrate
were charged as a reduction of and exploration and evaluation costs. On October
1, 2012, the Company transitioned to full production at operating levels
intended by management at the San Gonzalo Mine and production results from that
point forward were reflected in the statement of operations. 


(ii) Silver equivalent ounces in Q3 and Q4 2013 were calculated using a 65:1
ratio for silver to gold. During Q1 and Q2 2013, a 55:1 ratio was used in the
calculation. In 2012 a ratio of 50:1 was used. (The ratio was changed to reflect
the respective gold and silver prices during those periods). Mill production
figures have not been reconciled and are subject to adjustment with concentrate
sales. Year-to-date and calculated figures may not add up due to rounding.


Highlights for the Fourth Quarter ended December 31, 2013 (Compared to Fourth
Quarter 2012)


Financial 



--  Revenues reported for year were $3,831,123 compared to $2,255,376 in
    2012, an increase (70%) 
--  Income from mine operations was $1,423,829, an increase of $603,022
    (73%) 
--  General and administrative expenses $873,458 compared to $889,152 in
    2012 
--  Earnings before income taxes was $759,238 compared to $433,981 in 2012  
--  Loss for the quarter was $1,625,762, a decrease of $1,799,422 from 2012 
--  Loss per share - basic and diluted was $0.06 for the quarter 
--  Cash cost per AgEq ounce decreased from $14.22 in 2012 to $11.32 in 2013
--  Consolidated all-in sustaining cash cost per AgEq ounce was $15.72 



Operational(i)



--  Silver production increased by 44% to 184,760 oz 
--  Gold production increased by 122% to 1,011 oz 
--  Silver equivalent production increased by 66% to 250,533 oz 
--  Plant throughputs, ore grades and metal recoveries were higher at the
    San Gonzalo Mine 



(i) Production in both periods includes output from the San Gonzalo Mine
(Circuit 1); there was no output from the Avino Mine stockpiles (Circuit 2)
during Q4 2012 as the circuit was not operational. 


(ii)Silver equivalent ounces in Q4 2013 have been calculated using a 65:1 ratio
for silver to gold. In 2012, a ratio of 50:1 was used. (The ratio was changed to
reflect the respective gold and silver prices during these periods) 


"In 2013, we delivered a significant year of silver and gold production and
revenue. Production increased in each quarter and we managed to cut operating
costs and remain cash flow positive despite weaker metal prices. We kept a lean
operation which resulted in a respectable $10.16 cash cost per ounce. During the
fourth quarter, we recorded a deferred income tax expense which is a non cash
item thus clouding the year end numbers. Our operations remains robust, with
2014 shaping up to be another record year. Our expansion is going ahead as
planned and is scheduled for completion in Q4; thus, 2015 should be the most
productive year the company has seen in its 46 year history. I would like to
thank all the people involved in making our plan a reality." 


- David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.

Conference Call

Avino will be holding a conference call on Thursday, April 17, 2014 at 9 am PST
(12 pm EST). 


To participate in the conference call, please dial the following:

Toll Free Canada & USA: 1-800-319-4610 

Outside of Canada & USA: 1-604-638-5340

No pass-code is necessary to participate in the conference call; participants
will have the opportunity to ask questions during the Q&A portion of the call.
Alternatively, participants can send questions via email to ir@avino.com on
April 16th, following the release of the financial results.


Participants should dial in 10 minutes prior to the conference.

The conference call will be recorded and the replay will be available on the
Company's website within one hour following the conclusion of the call.


Outlook 

Avino's mission is to create shareholder value through profitable organic growth
at the Avino Property. We are committed to managing all business activities in
an environmentally responsible and cost-effective manner while contributing to
the well-being of the community in which we operate.  


Management remains focused on the following key objectives:



1.  Maintain profitable mining operations at San Gonzalo while managing
    operating costs and improving efficiencies; 
2.  Advance the Avino Mine for mineral production, expand mill output from
    500 to 1,500 TPD; 
3.  Continue to review and develop plans to process the oxide tailings
    resource from previous milling operations (PEA issued in 2012); 
4.  Continue to explore regional targets on the Property followed by other
    properties in our portfolio. 



Avino

Avino is a silver and gold producer operating the Avino property located in
Durango, Mexico. The Company's mission is to become the next mid-tier silver
producer through profitable organic growth at the Avino property. We are
committed to managing all business activities in an environmentally responsible
and cost-effective manner while contributing to the well-being of the community
in which we operate. 


ON BEHALF OF THE BOARD

David Wolfin, President & CEO

Avino Silver & Gold Mines Ltd.

Safe Harbor 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 including the PEA, 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, silver and copper, 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.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Avino Silver & Gold Mines Ltd.
David Wolfin
President & CEO
604.682.3701
604.682.3600 (FAX)
ir@avino.com
www.avino.com

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