The Albany Gazette - Avino Announces Q3 2026 Production Results

"The third quarter of 2026 represented another important period of progress for Avino, highlighted by the increasing contribution from La Preciosa and a 15% increase in silver production," said David Wolfin, President and Chief Executive Officer. "Mill performance remained solid during the quarter, with tonnes milled continuing to exceed expectations, and contributions from La Preciosa development ore continued to increase as the project advanced. This growing contribution demonstrates the progress we are making at La Preciosa, with development mining rates and mill throughput reaching above 450 tonnes per day during the third quarter. We remain focused on optimizing La Preciosa for future production growth as the project is a key pillar in our transformational growth targets."

PRODUCTION HIGHLIGHTS - Q3 2026

• Steady Progress at La Preciosa: As of the end of Q3 2026, over 3,000 metres of development has been completed at La Preciosa as we prepare for future production mining at both La Gloria and Abundancia veins as the Company has added additional equipment to improve development rates in previous quarters.
• Primary Silver Production: Avino produced 303,189 silver ounces, representing over 50% of our silver equivalent¹ production for Q3 2026, as the Company continues to transition to its long-term target of 75% of consolidated silver equivalent¹ production coming from silver ounces.
• Increased La Preciosa Development Production: Avino produced 582,836 silver equivalent¹ ounces in Q3 2026, up slightly from Q3 2025 on a consolidated basis. At La Preciosa, development production output increased 5% from Q2 2026, contributing 105,867 AgEq¹ ounces, and consisting of 91,411 silver oz and 166 gold oz. Mill processing of mineralized development material from La Preciosa was above plan for 2026 to date, primarily due to Mill Circuit 2 becoming available for La Preciosa development ore in the second quarter, ahead of schedule. Grades were below plan as elevated silver prices supported the processing of additional lower-grade development ore.
• Consistent Mill Throughput: In Q3 2026, mill throughput remained on plan with 190,379 tonnes processed from both Avino and La Preciosa. Continued steady mill performance and availability reflects the impact of targeted upgrades and automation initiatives led by our operations and maintenance teams over recent years.

Consolidated Production Results - Q3 2026

Production Results by Operation

La Preciosa Mine Update

As noted previously, development mining and haulages rates increased at the beginning of Q2 2026 to allow for Mill Circuit 2 to switch from ET ore to La Preciosa development ore, and Mill Circuit's 1 and 2 have both been processing La Preciosa development ore for two quarters. In addition, mine preparation work is nearly complete on Level 3 of Abundancia and La Gloria, allowing for production long-hole mining to begin. This will result in higher-grade ore being sent to the mill as compared to the development ore processed to date, which was subject to additional mining dilution. Engineering and technical studies are on going at the mine level to evaluate the optimum mining, hauling and processing rates for the long-term. Additionally, Avino has completed trade-off studies and have begun the process of a preparing for a stand-alone processing facility at La Preciosa.

Exploration

A third drill was added at La Preciosa, with 10,675 meters of drilling completed at the end of Q3 as part of the planned 15,000 metres of exploration for 2026. Drilling has now shifted from infill holes to exploration and step-out holes at high-priority targets at vein intersections and projections. It is important to note that none of the infill drilling holes completed to date were included in the mineral reserve update in Q2 2026. Furthermore, most of the exploration holes are in areas outside the current resource model.

Drilling remains ongoing at Avino as we continue to understand the nature of the veining, with two drills currently deployed. The first drill was focused in the upper area in the eastern portion of the system. The second drill at Avino was focused on extension drilling in the footwall breccia area in the upper east portion. As of September 30, 2026, 9,400 metres have been completed.

A fulsome update on the 2026 drilling program will be provided once assays and geological analyses have been completed.

Avino Mine and Mill Update

As previously mentioned in Q2 2026, Avino identified surface mineralized material near its current workings, which was out of the current reserves. Given the ease of accessibility along with the lower cost of extraction and process flexibility of the four independent mill circuits, Avino elected to mine, haul and process this material in one of the large mill circuits. Silver and gold grades have proven to be quite good, however copper grades are lower and due to the near surface nature, can be highly oxidized affecting recovery. However, given the lower cost and attractive metal price environment this material represents was prioritized over fresh underground ore, providing additional flexibility on mine sequencing in addition to reducing depletion on Avino reserves.

Normal Course Issuer Bid

Up to September 30, 2026, Avino repurchased and subsequently cancelled 784,771 common shares, decreasing the issued and outstanding common shares by the same amount. As previously announced, the Company is permitted to repurchase for cancellation up to an aggregate of 8,428,566 common shares prior to April 7, 2027. The Company believes the NCIB is a flexible tool as part of its overall capital allocation program and remains committed to returning value to shareholders by reducing the number of shares outstanding therefore increasing percentage of ownership and earnings per share.

Earnings Announcement

The Company's Q3 2026 financial statements and results are scheduled to be released after the market closes on Wednesday, November 4, 2026.

A conference call to discuss the Company's Q3 2026 operational and financial results will be held on Thursday, November 5^th. 2026, at 8:00 AM PCT* (10:00 AM ET) *Note that BC is moving to permanent daylight savings time.

To participate in the conference call or follow the webcast, please see the details below.

Shareholders, analysts, investors, and media are invited to join the webcast and conference call by logging in here Avino's Q3 2026 Financial Results or by dialing the following numbers five to ten minutes prior to the start time.

Toll Free: 888-506-0062
International: 973-528-0011
Participant Access Code:321901

Participants will be greeted by an operator and asked for the access code. If a caller does not have the code, they can reference the Company name. Participants will have the opportunity to ask questions during the Q&A portion.

The conference call and webcast will be recorded, and the replay will be available on the Company's website later that day.

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 UK, LSI in the Netherlands, and AHK.

Qualified Person(s)

Peter Latta, P.Eng., MBA, Avino's Senior Vice President, Technical Services, is a qualified person within the context of National Instrument 43-101, has reviewed and approved the technical data in this news release.

About Avino

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 our growth at the historic Avino Property and the strategic acquisition of the adjacent La Preciosa which was finalized in Q1 2022. La Preciosa is one of the largest permitted silver assets in Mexico and is just 19 kilometres from the Avino mill. La Preciosa is in the development stage, and 3,000 metres of development have been completed to date. Avino's inaugural proven and probable mineral reserves announced April 2026 totaled 127 million silver equivalent ounces, and the updated measured and indicated mineral resource base is 301 million silver equivalent ounces. Avino is included in the Toronto Stock Exchange's TSX30™ for the second consecutive year. Avino distinguished itself by being ranked in the 5th position in both 2025 and 2026. As part of Avino's commitment to adopting sustainable practices, we have been operating a dry-stack tailings facility for more than three years with excellent results. We are 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 we operate. We encourage you to connect with us on X (formerly Twitter) at @Avino_ASM and on LinkedIn at Avino Silver & Gold Mines. To view the Avino Mine VRIFY tour, please click here.

For Further Information, Please Contact:
Investor Relations
Tel: 604-682-3701
Email: [email protected]

Cautionary Note Regarding Forward-Looking Statements

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 the mineral reserve estimate and mineral resource estimate for the Company's Avino properties, including La Preciosa, located near Durango in west-central Mexico (the "Avino Property") with an effective date of October 31, 2025 (consisting of the Elena Tolosa ("ET") deposit, Guadalupe, and La Potosina). The Oxide Tailings Deposit mineral reserve estimate has an effective date of January 16, 2024.

This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995.These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "opportunities", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.

Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. All forward-looking statements are based on the Company or its consultants' current beliefs as well as various assumptions made by them and information currently available to them. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the Company's business strategy; future planning processes; the timing and amount of estimated future exploration and development; costs and timing of the development of deposits; capital projects and exploration activities and the possible results thereof; completion and filing of the updated Mineral Resource Estimate; future operating procedures; infrastructure development and economic enhancement projects. Statements concerning proven and probable mineral reserves and mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered as and if our property is developed, and in the case of measured and indicated mineral resources or proven and probable mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.

Forward-looking statements reflect the beliefs, opinions and projections of management on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Such factors include, without limitation the Company's business, operations and financial condition potentially being materially adversely affected by the outbreak of epidemics, pandemics or other health crises, and by reactions by government and private actors to such outbreaks; fluctuations in the spot and forward price of gold, silver, copper, base metals or certain other commodities; fluctuations in the currency markets (such as the Mexican Peso versus the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments; requirements for additional capital to support expansion projects; changes in project parameters as plans continue to be refined; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment or processes relative to specifications and expectations; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); effectiveness of environmental mitigations and strategies including production of tailings and mine rock and water management strategies, the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities, indigenous populations and other stakeholders; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development; title to properties.; and the additional risks described in the Company's Annual Information Form for the year ended December 31, 2025 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca, and in the Company's Annual Report on Form 40-F filed with the SEC on EDGAR.

The Company cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to the Company, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on our behalf, except as required by law.

Cautionary Note to United States Investors

The Company is formed under the laws of British Columbia, Canada and qualifies as a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

Technical disclosure contained in this news release has not been prepared in accordance with the requirements of United States securities laws and uses terms that comply with reporting standards in Canada with certain estimates prepared in accordance with NI 43-101.

NI43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material mineral projects.

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

Footnotes:

1. Silver equivalent or "AgEq" was calculated using metal prices of $45.30 per oz Ag, $3,929 per oz Au and $4.85 per lb Cu. These metal prices are based on the Company's 2026 budget as approved by the Board of Directors, and previous periods have been recalculated using these prices for comparability purposes. Calculated figures may not add up due to rounding.

SOURCE: Avino Silver & Gold Mines Ltd.

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(T.Brown--TAG)