ASM · Avino Silver & Gold Mines Ltd.

Avino Silver & Gold Mines Ltd. delivered exceptional Q1 2026 results, achieving record revenues of $39.4 million, up 109% from Q1 2025 and 29% from the prior quarter's record, primarily due to 60% of revenues from silver at an average realized price of $86.42 per ounce amid strong metal prices. Mine operating income reached a record $23.4 million, reflecting improved mill throughput of 185,497 tonnes milled (11% YoY increase) from upgrades and automation, despite slightly lower silver equivalent production. Net income hit $15.9 million or $0.09 per diluted share, with non-GAAP EBITDA at $25.5 million and adjusted earnings $24.3 million or $0.14 per share, underscoring operational leverage. President and CEO David Wolfin highlighted improved margins, robust balance sheet with $138.6 million cash and $139.7 million working capital as of March 31, 2026, positioning the company for growth toward mid-tier silver producer status. Key developments include La Preciosa contributing 49,830 silver ounces, an inaugural mineral reserve estimate of 27 million tonnes (127 million AgEq oz at 145 g/t), and ongoing 2026 drill programs. The TSX-approved share buyback for up to 5% of shares signals confidence in cash generation. Capital expenditures of $2.7 million focused on La Preciosa mine development align with the growth plan, while strong safety metrics and ESG commitments, including ESR designation, support sustainable operations.