Avino Silver & Gold Mines (ASM) Registration Filing summary

Company overview and business model

• Engaged in extraction and processing of gold, silver, and copper, with principal operations at the Avino Mine in Durango, Mexico; also owns the La Preciosa property and other exploration assets in Mexico and Canada.

• Focused on expanding operations through organic growth, development of existing properties, and strategic acquisitions.

• Common shares listed on TSX and NYSE American under symbol ASM; also quoted in Berlin and Frankfurt.

Financial performance and metrics

• Reported net income of $8.1 million for 2024 and $0.5 million for 2023; Q1 2025 net income was $5.6 million, up from $0.6 million in Q1 2024.

• Silver equivalent production in Q1 2025 was 678,458 ounces, an 8% increase from Q1 2024, driven by improved grades in all metals.

• As of December 31, 2024, held approximately $31 million in cash and receivables, with net working capital of $25 million.

• 145,129,569 common shares outstanding as of May 23, 2025; no dividends declared or paid to date.

Use of proceeds and capital allocation

• Net proceeds intended for working capital, development and exploration of Avino and La Preciosa properties, potential funding of the Oxide Tailings Project (initial capital cost $49.1 million), and possible acquisitions.

• Pending use, proceeds may be invested in short-term, high-quality, interest-bearing securities.

• Actual use of funds may vary based on operating and capital needs; reallocations at management's discretion.