Avino Silver & Gold Mines Announces 2026 Production Guidance and Mining Method Change

Avino Silver & Gold Mines Ltd. (TSX:ASM)(NYSE American:ASM)(FSE:GV6), a long-standing silver producer in Mexico, shared its outlook for 2026 alongside a summary of key milestones achieved for 2025. Strong operating results at the Avino Mine, accelerated development at La Preciosa delivering additional tonnage in the fourth quarter of 2025, and strong financial performance positioned the Company for 2026.

In 2025, the Company achieved several key milestones, including fast-tracking La Preciosa following permit approval and securing 100% ownership through the acquisition of outstanding royalties and contingent payments, which further strengthened its cost profile. Drill results reported in 2025 from La Preciosa exceeded expectations, with intercept grades significantly higher than those outlined in its current mineral resource. The Company's operational and financial performance was also reflected in the capital markets, with Avino ranking #5 in the TSX30 and being included in several ETFs, further expanding its investor visibility and market presence.

As a result of identifying wider veins in the infill drilling campaign and development work completed in 2025, the Company has modified the planned mining method from shrinkage stoping, which is a narrow-vein style of mining, to wider-vein methods of longhole sub-level caving. This change in mining method will allow for higher mining rates at lower cost in the medium to long-term at La Preciosa, in anticipation of higher throughput. As a result, more development material will be processed through the Avino mill, followed by a transition from development mining to production mining later in 2026.

For 2026, the Company plans to process between 725,000 to 750,000 tonnes of material through the mill, sourced from both the Avino Mine and La Preciosa. The Company anticipates producing between 1.0 to 1.2 million ounces of silver, 5.0 to 7.0 thousand oz of gold and 6.0 to 7.5 million pounds of copper as per the Company's 2026 budget, with production for all three metals being similar to 2025 actual production. Based on the Company's 2026 metal price assumptions and an increase in silver price in relation to gold and copper, silver equivalent production is expected to decrease as a result of the metals price ratios, and is forecasted to be in the range of 2.4 to 2.7 million silver equivalent oz, even though production for silver and gold remains constant, and copper production is expected to increase.

The Company's guidance for silver production has been reduced from its 5-year plan due to the planned additional development at La Preciosa, where the transition from development mining to production mining will commence later in 2026 than originally anticipated. This increased development is fully funded from the Company's current cash and is expected to provide growth in both silver production and silver equivalent production in 2027. The Company remains on track for the previously issued long-term growth plan.

Key operational and strategic priorities for 2026 include increased production at La Preciosa with a goal of 500 tonnes per day forecasted for H2 2026, execution of a 30,000-metre drilling program with 15,000 metres at the Avino Mine and 15,000 metres at La Preciosa, an update to the Mineral Resource Estimate including an inaugural Mineral Reserve Estimate in H1 2026, utilization of AI for integration of all data for resource/reserve expansion and new exploration discoveries, and investing in mill equipment upgrades focused on improving recovery rates.

Operating cost guidance for 2026 includes direct operating costs per tonne of $55.00 to $65.00 at the Avino Mine, $105.00 to $120.00 for La Preciosa development material, and $65.00 to $75.00 consolidated. All-in sustaining costs per tonne are projected at $70.00 to $80.00 at the Avino Mine, $120.00 to $135.00 for La Preciosa development material, and $80.00 to $90.00 consolidated.

Avino has the strongest balance sheet in Company history and remains debt-free, excluding operating equipment leases, demonstrating disciplined capital allocation approach throughout 2025. With a strong balance sheet and a robust working capital position, the Company is well positioned to support its transformational growth plan.