ASM · Avino Silver & Gold Mines Ltd.

The filing centers on Avino’s 2025 annual results and preparations for its 2026 Annual General Meeting, delivering a high-materiality update on operational execution, financial strength, and strategic development progress. The Company achieved 2.6 million silver equivalent ounces — squarely within its 2.5–2.8 million ounce guidance — driven by strong mill throughput and rapid advancement at La Preciosa, where development material was delivered to the mill in under eight months following the first blast in April 2025. This production outcome, coupled with a tripling of cash from $27 million to $102 million, underscores disciplined capital allocation and operating leverage in a favorable metals price environment. Critically, La Preciosa moved decisively into underground development after securing all required permits, with the 360-metre decline progressing on schedule and a new jumbo drill accelerating work toward the Gloria and Abundancia veins. The April 16, 2026 announcement of Avino’s inaugural mineral reserve estimate — enabled by high-grade, wide intercepts exceeding historical resource averages — represents a major de-risking milestone, transforming La Preciosa from a development-stage asset into one with defined, mineable reserves. Further strengthening the project’s economics, Avino acquired and extinguished all legacy royalties and contingent payments, restoring full value capture and simplifying the ownership structure ahead of production — a rare and value-enhancing transaction in the sector. These developments collectively reinforce Avino’s multi-asset growth strategy targeting intermediate producer status by 2029, supported by the Avino Mine, La Preciosa, and the Oxide Tailings Project. Market validation is evident in its 5th-place ranking in the 2025 TSX30™ and inclusion in key gold-miner ETFs, reflecting investor confidence in its execution track record and growth trajectory.