Avino Reports Third Quarter 2014 Financial Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 12, 2014) - Avino Silver & Gold Mines Ltd. (TSX VENTURE:ASM)(NYSE MKT:ASM)(FRANKFURT:GV6) ("Avino" or "the Company") is pleased to report its financial results for the third quarter ended September 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 nine months ended September 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 is pleased to deliver another profitable quarter during a time of declining metal prices. Our team has remained focused on managing a tight cost structure and their efforts are once again reflected in the results of this quarter. Now that we have completed our recent acquisition of Bralorne Gold Mines Ltd. ("Bralorne"), we plan to apply our effective operating and cost models at Bralorne with the expectation of increasing our positive overall results. Further, we are looking forward to completing our expansion at the Avino Mine site and bringing Circuit 3 online later this year. We are confident that the operations of the recently re-opened Avino Mine will further contribute to the success of Avino's consolidated operations," stated Malcolm Davidson, CFO.

Highlights of Three and Nine Months Ended September 30, 2014 (Compared to 2013)

Financial

• Consolidated all-in sustaining cash cost per AgEq ounce¹ was $13.01 in the third quarter of 2014 compared to $11.35 in the third quarter of 2013
• Revenues reported for the quarter were $4,704,213 compared to $3,821,622 in the comparable quarter of 2013, an increase of 23%
• Income from mine operations was $1,710,078 in the third quarter of 2014, a decrease of $613,139 from the third quarter of 2013
• General and administrative expenses were $668,612 in the third quarter of 2014 compared to $873,522 in the third quarter of 2013
• Earnings before income taxes were $1,203,929 in the third quarter of 2014 compared to $1,029,694 in the third quarter of 2013
• Earnings for the third quarter of 2014 were $787,805, a decrease of $150,889 from the third quarter of 2013
• Earnings per share, basic and diluted, was $0.02 in the third quarter of 2014 compared to $0.03 in the third quarter of 2013
• Average realized prices per ounce of silver and gold were US$19.24 and US$1,267 respectively for the third quarter 2014 and US$21.76 and US$1,337 respectively for the third quarter of 2013
• Cash flows from operations before movements in working capital were $3.8 million for the first nine months of 2014, compared to $4.4 million for the corresponding period of the previous year
• Cash flow per share¹, basic and diluted, was $0.12 per share for the first nine months of 2014, compared to $0.16 per share for the corresponding period of the previous year.

Operational