VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/20/12 -- Avino Silver & Gold Mines Ltd. (TSX VENTURE: ASM)(NYSE MKT: ASM)(BERLIN: GV6)(FRANKFURT: GV6) ("Avino" or "the Company") is pleased to announce that its Mexican subsidiary COMPANIA MINERA MEXICANA DE AVINO, S.A. DE C.V. has entered into a master credit facility with CATERPILLAR CREDITO, S.A. DE C.V., SOFOM, ENR ("Caterpillar Finance") for up to US $5 million.
The credit facility bears interest at rates ranging from 0% to 4.95% per annum. Equipment leased under the credit facility has terms of 18 months to 60 months. These terms are dependent on the Company's requirements and equipment acquired.
The Company is very pleased about the new credit facility arrangement with Caterpillar Finance as it will help the Company to advance its current operations at San Gonzalo and to reopen the Avino Mine. With the credit facility in place, the Company has initiated the acquisition of the following pieces of mining equipment and expects to receive them by December 31, 2012 or shortly thereafter; the equipment being acquired for delivery before the end of the year represents about a third of the credit facility:
-- Caterpillar 420F Backhoe loader-- Caterpillar R1600 Scoop tram-- Oldenburg underground rock drill.
Founded in 1968, Avino's mission is to create shareholder value through profitable organic growth at the historic Avino property near Durango, Mexico. We are committed to managing all business activities in an environmentally responsible and cost-effective manner, while contributing to the well-being of the community in which we operate.
Our primary goal is to become a significant low cost primary silver producer. Our specific objectives are to achieve full time commercial production as soon as possible, expand resources, reserves and the mines output as well as to identify, explore and develop new targets on the property.
ON BEHALF OF THE BOARD
David Wolfin, President & CEO
This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
Safe Harbor Statement - 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 our belief as to the extent and timing of various studies including the PEA, and exploration results, the potential tonnage, grades and content of deposits, timing and establishment and extent of resources estimates. These forward-looking statements are made as of the date of this news release and the dates of technical reports, as applicable. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements.