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August 15, 2014
Avino Expansion &
Operational Update
Avino Silver & Gold Mines Ltd. (ASM:
NYSE - MKT, ASM: TSX.V; "Avino" or
"the Company") is pleased to
announce the following expansion
update from its Avino mine and
operational update from its San
Gonzalo Mine, both of which are
located on Avino property, 80km
northeast of Durango, Mexico.
Having just returned from a 3 day
trip to the mine, I am very
impressed with the progress. I'm
looking forward to completing our
current expansion in short order.
- David Wolfin, President & CEO
Avino Silver & Gold Mines Ltd.
To view recent photos documenting
the expansion, please click here.
Avino Mine
Expansion
Dewatering (100% Complete)
The Avino Mine is now completely
dewatered down to level 12, mining
operations will resume with the
continuation of the ramp to level
12.5 where mining ceased in 2001
once power and air are available.
The new jumbo and scoop are on-site
and ready for operation and the new
1mW generator and fuel tank to
supply underground power has been
installed; testing of the generator
will start once service piping and
electrical wiring have been
completed. The new air compressor is
also on site and ready to be hooked
up.
Main Haulage Ramp Rehabilitation
(100% Complete)
The ramp in general is in very good
condition as the host rock is solid;
areas where sloughing has occurred
are being stabilized with steel and
timber sets and sprayed with
shotcrete. Slashing of the sharp
corners has been carried out to
accommodate larger haulage vehicles.
Due to rain and inflow of water with
overburden from the open pit, the
haulage ramp has been used to haul
out this added waste material to the
surface. In addition, mineralized
material from level 11.5 has also
been hauled to the surface.
Currently, there is an estimated
2,960 tonnes of mineralized material
on stockpile available for
processing in circuit #2; this
material represents the first mill
feed taken from underground at the
Avino Mine since its closure in
2001. Circuit 2, which is currently
processing above ground stockpiles,
will transition to processing higher
grade underground material from the
Avino mine on a full time basis
starting in September. The new
flotation concentrate will be used
to negotiate with trading firms in
anticipation of circuit #3 coming
online.
Initial mining for mill feed will be
from levels 11.5 and 12 with start
date of late August/early September.
Development of the ramp to lower
levels (down to level 17) will
continue separately with an
additional mining crew.
Processing Plant Expansion
-
Scalping screen has been
installed and is now operating
-
Product screen is scheduled for
installation later this month
and preparatory work is now
being done to minimize crushing
plant downtime
-
A large quantity of crushed mill
feed has been stockpiled to
ensure both mill circuits
operate during the scheduled
crusher downtime period
-
Mill liners for the large ball
mill have arrived and are ready
to install
-
Purchase order for first fill of
grinding balls has been issued
-
Mill electrical starter to be
wired in later this month
-
Mill clutch to be installed in
September
-
Thickener mechanism with bridge
has been installed in tank;
installation of the rakes and
tank launder modification work
are currently underway.
-
Foundations for the filter press
have been poured; the filter has
arrived in Manzanillo and is
awaiting customs clearance.
-
Circuit #3 should be ready for
commissioning in the 4th Quarter
as scheduled.
Surface and Infrastructure
There has been a delay with the
permit for the construction of the
power line due to changes in
personnel in the Ministry's office
following a recent election. The new
schedule calls for completion of the
power line sometime in February
2015. Caterpillar has been
approached to supply a 1.5 to 2 mW
generator for circuit #3 in the
interim.
GeoQuality has completed the new
tailings storage facility study and
the draft report has been issued for
comment. Once complete, the report
will be submitted in support of our
permit application and the design
will be used for the basis of the
construction cost estimate to build
the new tailings facility.
San Gonzalo Mine
At the San Gonzalo mine, exploration
drifting on the vein on level 4 to
the Southeast has been halted
pending the completion of the raise
from the 5th level to provide better
ventilation. The drift has advanced
a total of 121 metres from the
cross-cut to the ramp. This is a new
zone that was not included in the
Tetra Tech resource estimate and was
reported in our news release of June
5th 2014. This new zone on level 5
has advanced a distance of 182
metres from the cross-cut where the
vein has split. The splay is just as
wide as the main vein of 2.5 metres.
Drifting and sampling of this new
zone on level 6 will commence once
the by-pass access ramp to the vein
has been completed.
Development on the vein on level 6
to the Northwest has advanced a
total of 113 metres from the main
cross cut. Material from this
development work and from stope
5-080 are the main sources of mill
feed at the present time.
The main haulage ramp has now
advanced past the elevation of level
7 of 2043 metres. Construction of a
sump to contain the water inflows is
now underway together with the cross
cutting.
To view a cross section map
documenting San Gonzalo development,
please click here
:
2014 Drill Program
Further to the news release dated
June 5th, 2014, Avino has now
completed 1277.75 metres of drilling
out of a planned 4,000 metres both
above and below surface around the
San Gonzalo Mine.
About Avino
Founded in 1968, Avino's mission is
to create shareholder value through
profitable organic growth at the
historic Avino property near
Durango, Mexico, and the strategic
acquisition of mineral exploration
and mining properties. We are
committed to managing all business
activities in an environmentally
responsible and cost-effective
manner, while contributing to the
well-being of the communities in
which we operate.
ON BEHALF OF THE BOARD
"David Wolfin"
________________________________
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 intent to
acquire and develop the Bralorne
mine, 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.
Such factors and assumptions
include, among others, the effects
of general economic conditions, the
price of gold, silver and copper,
changing foreign exchange rates and
actions by government authorities,
uncertainties associated with legal
proceedings and negotiations and
misjudgments in the course of
preparing forward-looking
information. In addition, there are
known and unknown risk factors which
could cause our actual results,
performance or achievements to
differ materially from any future
results, performance or achievements
expressed or implied by the
forward-looking statements. Known
risk factors include risks
associated with project development;
the need for additional financing;
operational risks associated with
mining and mineral processing;
fluctuations in metal prices; title
matters; uncertainties and risks
related to carrying on business in
foreign countries; environmental
liability claims and insurance;
reliance on key personnel; the
potential for conflicts of interest
among certain of our officers,
directors or promoters of with
certain other projects; the absence
of dividends; currency fluctuations;
competition; dilution; the
volatility of the our common share
price and volume; tax consequences
to U.S. investors; and other risks
and uncertainties as disclosed in
our filings with the US Securities
and Exchange Commission. Although we
have attempted to identify important
factors that could cause actual
actions, events or results to differ
materially from those described in
forward-looking statements, there
may be other factors that cause
actions, events or results not to be
as anticipated, estimated or
intended. There can be no assurance
that forward-looking statements will
prove to be accurate, as actual
results and future events could
differ materially from those
anticipated in such statements.
Accordingly, readers should not
place undue reliance on
forward-looking statements. We are
under no obligation to update or
alter any forward-looking statements
except as required under applicable
securities laws.
Cautionary Note to United States
Investors - The information
contained herein and incorporated by
reference herein has been prepared
in accordance with the requirements
of Canadian securities laws, which
differ from the requirements of
United States securities laws. In
particular, the term "resource" does
not equate to the term "reserve".
The Securities Exchange Commission's
(the "SEC") disclosure standards
normally do not permit the inclusion
of information concerning "measured
mineral resources", "indicated
mineral resources" or "inferred
mineral resources" or other
descriptions of the amount of
mineralization in mineral deposits
that do not constitute "reserves" by
SEC standards, unless such
information is required to be
disclosed by the law of the
Company's jurisdiction of
incorporation or of a jurisdiction
in which its securities are traded.
U.S. investors should also
understand that "inferred mineral
resources" have a great amount of
uncertainty as to their existence
and great uncertainty as to their
economic and legal feasibility.
Disclosure of "contained ounces" is
permitted disclosure under Canadian
regulations; however, the SEC
normally only permits issuers to
report mineralization that does not
constitute "reserves" by SEC
standards as in place tonnage and
grade without reference to unit
measures.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as
that term is defined in the policies
of the TSX Venture Exchange) accepts
responsibility for the adequacy or
accuracy of this release.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Information contained herein has
been obtained from sources
believed to be reliable, but
there is no guarantee as to
completeness or accuracy.
Because individual investment
objectives vary, this Summary
should not be construed as
advice to meet the particular
needs of the reader. Any
opinions expressed herein are
statements of our judgment as of
this date and are subject to
change without notice. Any
action taken as a result of
reading this independent market
research is solely the
responsibility of the reader.
Silver Investor is not
and does not profess to be a
professional investment advisor,
and strongly encourages all
readers to consult with their
own personal financial advisors,
attorneys, and accountants
before making any investment
decision.
Silver Investor
and/or independent consultants
or members of their families may
have a position in the
securities mentioned. Mr. Morgan
does consult on a paid basis
both with private investors and
various companies. Investing and
speculation are inherently risky
and should not be undertaken
without professional advice. By
your act of reading this
independent market research
letter, you fully and explicitly
agree that Silver Investor will not be held liable or
responsible for any decisions
you make regarding any
information discussed herein.
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