Avino Reports Third Quarter 2014 Financial Results - Seite 2

• Silver production for the third quarter of 2014 increased 21% to 217,024 oz compared to the third quarter of 2013
• Gold production for the third quarter of 2014 increased 27% to 1,105 oz compared to the third quarter of 2013
• Silver equivalent production for the third quarter of 2014 increased 28% to 298,381 oz* compared to the third quarter of 2013
• Concentrate inventory available for sale at quarter-end was 74.5 dry metric tonnes.

"Our third quarter 2014 results reflect solid operating performance throughout our operations. During the quarter, we achieved an important milestone with the resumption of underground mining operations at the Avino Mine. Our performance in the third quarter reflects the quality of our mining assets and our people. The continued ramp-up of the Avino Mine, coupled with stable performance at the San Gonzalo mine, position the Company for a strong finish to 2014 and an exciting 2015. Going forward, Avino is poised to excel thanks to our growing operations in Mexico and the recent addition of the Bralorne mine project."

- David Wolfin, President, CEO & Director

Financial Review

The Company generated revenues of $4,704,213 for the third quarter of 2014, a 23% increase compared the third quarter 2013. Although metals prices decreased significantly between the periods, the Company recorded a higher number of silver equivalent ounces sold as a result of improved grades and recoveries.

For the third quarter of 2014, net income decreased by $150,889 to $787,805 or $0.02 per share, compared to net income of $938,694 or $0.03 per share during the third quarter of 2013. The decrease reflects significant increases in current income taxes and non-cash share-based payments. Mine operating income was $1,710,078, a decrease of $613,139 or 26% from $2,323,217 during the third quarter of 2013.

Cash flows from operations before movements in working capital through the first three quarters of 2014 totalled $3.8 million, a decrease of 14% from the $4.4 million generated through the first three quarters of 2013.

Operational Review

Total silver equivalent production in the third quarter of 2014 increased to 298,381 silver equivalent ounces*, an increase of 28% compared to the third quarter of 2013. The production growth was primarily due to higher feed grades and recoveries at the San Gonzalo mine and higher tonnage processed, higher silver feed grade, and better silver recoveries at the Avino Mine stockpile operation.