Avino Reports Second Quarter 2014 Financial Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 20, 2014) - Avino Silver & Gold Mines Ltd. (TSX VENTURE:ASM)(NYSE MKT:ASM)(FRANKFURT:GV6)(BERLIN:GV6) ("Avino" or "the Company") is pleased to report its financial results for the quarter ended June 30, 2014. All financial information, other than non-IFRS measures, 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 condensed consolidated interim financial statements for the six months ended June 30, 2014 and associated management's discussion and analysis ("MD&A") and the audited consolidated financial statements for the year ended December 31, 2013 and associated 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.

"Avino has delivered another strong quarter of financial results from mining operations. Our mine operating income and general and administrative expenses are consistent with the comparable quarter and consistent with our expectations. Avino has utilized its non-capital tax loss carry-forwards in Mexico and is now incurring current income tax expenses. We are pleased to support the economic health of our neighbouring communities in Mexico and look forward to continued positive relations while we move closer to completing the Avino Mine expansion," stated Malcolm Davidson, CFO.

Highlights of Second Quarter 2014 (Compared to Second Quarter 2013)

Financial

• Cash cost per AgEq ounce¹ was $8.67 compared to $9.66 in 2013
• Consolidated all-in sustaining cash cost per AgEq ounce¹ was $12.02 compared to $12.80 in 2013
• Revenues reported for the quarter were $5,104,921 compared to $4,951,952 in 2013, an increase of 3%
• Income from mine operations was $2,311,928, a decrease of $26,471 or 1%
• General and administrative expenses were $966,319 compared to $957,206 in 2013
• Earnings before income taxes was $440,797 compared to $1,532,301 in 2013
• Earnings (Loss) for the quarter was ($87,097), a decrease of $1,534,398 from 2013
• Earnings (Loss) per share, basic and diluted, was ($0.00) compared to $0.05 in 2013
• Average realized prices per ounce of silver and gold were US$19.59 and US$1,283 respectively for 2014 and US$26.63 and US$1,523 respectively for 2013
• Cash flows from operations before movements in working capital and income taxes were $3.1 million for the first six months of 2014, compared to $2.8 million for the corresponding period of the previous year
• Cash flow per share¹, basic and diluted, was $0.07 per share for the first six months of 2014, compared to $0.10 per share for the corresponding period of the previous year

1	Silver equivalent ounces sold ("AgEq ounce") consists of the number of ounces of silver sold plus the number of ounces of gold sold multiplied by the ratio of the average spot gold price to the average spot silver price for the corresponding period. Please refer to the information under the heading "Non-IFRS Measures" of this news release for a discussion of cash cost per silver equivalent ounce, all-in sustaining cash cost per silver equivalent ounce, and cash flow per share.
*	For comparison purposes, a silver equivalent ratio of 62.5:1 for silver to gold has been used. Mill production figures have not been reconciled and are subject to adjustment with concentrate sales. Calculated figures may not add up due to rounding.

Operational