Avino Reports 2014 Financial Results of $2,514,169, $0.08 Per Share and Cash Flow From Operations of $4.3 Million, $0.13 Per Share

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 23, 2015) - 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 year ended December 31, 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 audited consolidated financial statements for the year ended December 31, 2014 and associated management's 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.

"Avino is pleased to report another strong year of financial and operating results. We increased our output while maintaining a low cost structure thanks to the hard work of our teams in Mexico and Canada. Avino is well positioned for 2015 with a strong balance sheet and positive cash flows from current operations. We look forward to another year of growth at Avino as we incorporate the re-opened Avino Mine and the recently acquired Bralorne Gold Mines Ltd. into our consolidated operations," stated Malcolm Davidson, CFO.

Highlights of Fiscal 2014 (Compared to Fiscal 2013)

Financial

• Consolidated all-in sustaining cash cost per AgEq ounce¹ was $12.24 in 2014 compared to $14.39 in 2013
• Revenues reported for the year were $19,297,953 compared to $16,094,701 in 2013, an increase of 20%
• Income from mine operations was $7,904,549 in 2014, an increase of $778,257 from 2013
• General and administrative expenses were $3,220,134 in 2014 compared to $3,339,069 in 2013
• Earnings before income taxes were $4,881,915 in 2014 compared to $3,409,212 in 2013
• Earnings for 2014 were $2,514,169, an increase of $1,665,957 from 2013
• Earnings per share, basic and diluted, was $0.08 in 2014 compared to $0.03 in 2013
• Average realized prices per ounce of silver and gold were US$19.04 and US$1,266 respectively for 2014 and US$22.59 and US$1,342 respectively for 2013
• Cash flow from operations before movements in working capital was $4.3 million for 2014, compared to $5.2 million the previous year
• Cash flow per share¹, basic and diluted, was $0.13 per share for 2014, compared to $0.19 per share for 2013.
• Raised $12.8M (US$11.5M) through the issuance of 4,982,677 shares at an average price of $2.56 (US$2.31) per share

Operational