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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/05/13 -- Avino Silver & Gold Mines Ltd. (TSX VENTURE: ASM)(NYSE MKT: ASM)(FRANKFURT: GV6) ("Avino" or the "Company") is pleased to report the following summary of significant events from 2012 and outlook for 2013.
Avino Achieves Production
On October 1st, 2012, the Company achieved production at the San Gonzalo Mine. This is a significant milestone for the Company reflecting 7 years of planning, determination and hard work from our teams in Canada and Mexico.
2012 Production Highlights
-- Metal production increased for the year by 42% over 2011 to 253,451 silver equivalent ounces (Calculated)(i)-- Silver production for the year increased by 44% over 2011 to 191,635 silver ounces (Calculated)-- Gold production for the year increased by 80% over 2011 to 1,236 gold ounces (Calculated)
Approximate production numbers from each quarter of 2012 are presented below:(ii)
Feed Concen- Au oz Material trate Ag oz Produced Ag Eq oz Source of Processed Produced Produced (calcu- Produced(i)Quarter Mill Feed (tonnes) (tonnes) (calculated) lated) (calculated)Q1 Historic ET Stockpiles 14,600 176 17,875 220 28,875Q2 Historic ET Stockpiles 16,900 134 14,129 180 23,129Q3 Historic ET Stockpiles 20,015 323 31,024 381 50,074Subtotal Historic ET Stockpiles 51,515 633 63,028 781 102,078(iii)Q4 San Gonzalo Mine 19,538 538 128,607 455 151,373Total 71,053 1,171 191,635 1,236 253,451(i) Silver equivalent ounces in 2011 and 2012 were calculated using prices of US$1,700 per oz and US$34.00 per oz for gold and silver respectively and applied to the recovered metal content of the concentrates that were produced from the ET stockpiles and San Gonzalo mine.(ii) Approximate production numbers, have not been reconciled to shipped tonnage.(iii) In Quarters 1 through 3 the Company produced and sold all of the bulk concentrate generated from processing old ET stockpiles. During the first 3 quarters of 2012, the Company was considered an exploration stage company, therefore the proceeds from the sale of this concentrate was charged as a reduction of mineral properties and exploration costs. On October 1, 2012, the Company transitioned to commercial production with respect to the San Gonzalo mine, therefore revenues and related costs will be reflected in the statement of comprehensive income and loss going forward. The revenues and costs for Q4 will be reflected in the annual audited financial statements.
"2012 was a very exciting and productive year for Avino and we hope to report even better news in 2013. We have made, and will continue to make, improvements that we believe will have a positive impact going forward. As we concentrate on improving efficiencies of the operations, our focus in 2013 will be to reduce costs, increase production at San Gonzalo and prepare for development and production at Avino's main mine in 2014." - David Wolfin, President & CEO.
