Quality Assurance/Quality Control
Mill assays are performed at the lab onsite at the mine. Check samples are verified by SGS laboratory Services in Durango, Mexico and more recently at Inspectorate Labs in Reno, Nevada. San Gonzalo concentrate shipments are assayed at AH Knight in Manzanillo, Mexico; Avino stockpile concentrate shipments are assayed at LSI in Rotterdam, Netherlands.
Stock Option Grant
Avino has granted an aggregate of 400,000 incentive stock options under its stock option plan to its directors, officers, employees and consultants. The Options are exercisable for up to five years at a price of $1.62 per share, which is the last closing price of the Company's shares prior to the date of grant.
The stock options are not transferrable and will be subject to a four-month hold period from the date of grant and any applicable regulatory acceptance.
Avino's projects are under the supervision of Chris Sampson, P.Eng, BSc, ARSM Avino Consultant and Mr. Jasman Yee P.Eng, Avino director, who are both qualified persons within the context of National Instrument 43-101. Both have reviewed and approved the technical data in this news release.
Due to mathematical error, the overall year to date silver equivalent production reported in our August 8, 2013 news release should instead have been listed as 487,082 ounces of silver equivalent.
Avino's mission is to create shareholder value through profitable organic growth at the Avino property. 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.
Management remains focused on the following key objectives:
1. Maintain profitable mining operations at San Gonzalo while decreasing operating costs and improving efficiency;2. Increase mill throughput using the new circuit ("Circuit 2") that went online in April 2013;3. Develop the Avino mine for commercial production commencing in 2014;4. Continue to review and develop plans to process the oxide tailings resource from previous milling operations (PEA issued in 2012);5. Continue to explore regional targets on the property and consider acquisition opportunities.
ON BEHALF OF THE BOARD
David Wolfin, President & CEO, Avino Silver & Gold Mines Ltd.
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.