VANCOUVER, BC / ACCESS Newswire / November 4, 2026 / Avino Silver & Gold Mines Ltd. (TSX:ASM)(NYSE American:TSX)(FSE:GV6) a long-standing silver producer in Mexico, announces its unaudited financial results for the third quarter of 2026. All amounts are in U.S. dollars unless stated otherwise.

Third Quarter 2026 Financial Highlights

• Revenues: The Company achieved $33.4 million in revenues for Q3 2026, an increase of 59% from Q3 2025. 55% of revenues were derived from silver production at an average realized price of $63.33 per ounce.
• Mine Operating Income: Mine operating income was $14.8 million, an increase of 50% from Q3 2025.
• Net Income: Earnings, or net income after taxes, was $6.1 million, or $0.03 per diluted share. Earnings were impacted by non-cash movements in deferred income taxes and unrealized losses on derivatives.
• Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA")³ and Adjusted Earnings³: EBITDA was $12.8 million, an increase of 12% from Q3 2025. Adjusted earnings were $14.3 million, or $0.08 per share, an increase of 23% and 14%, respectively, from Q3 2025.
• Strong Cash Provided by Operating Activities and Operating Cash Before Working Capital Adjustments³: Cash provided by operating activities was $12.7 million, an increase of 52% from Q3 2025. The Company generated operating cash before working capital adjustments of $12.3 million, an increase of 69% compared to Q3 2025.
• Mine Operating Cash Flow Before Taxes: Mine operating cash flows before taxes was $16.5 million, an increase of 49% from Q3 2025.

"During the third quarter, the Company continued to ramp up development at La Preciosa, well exceeding our budget targets," said David Wolfin, President and CEO. "With over 3,000 metres of underground development completed already this year, we are laying the foundation for meaningful increases to our future silver production profile as performing this work will be instrumental in our plans for a larger mining operation at La Preciosa.

I am particularly proud of the resilience of our operating team in managing production costs at Avino as we continue to add more local labour force to our teams at both the Avino operation, as well as at La Preciosa. Our consolidated AISC margin of $28 per ounce in the current quarter demonstrates that even as we develop a second mine, we are able to deliver meaningful cash flow generation. Our updated guidance on silver production and costs reflects our development strategy of processing lower grade development ore at La Preciosa, while we continue to move that project to a larger operation. I would also like to acknowledge the entire team for earning the ESR distinction in Mexico for the fourth consecutive year, a recognition that reflects our commitment to operating in a safe and sustainable manner."

Third Quarter 2026 Operating and Financial Highlights

La Preciosa Milestones

• Steady Progress & Increased Production from Development Ore: At La Preciosa, development production output increased 5% from Q2 2026, contributing 105,867 AgEq¹ ounces, and consisting of 91,441 silver oz and 166 gold oz. Mill processing of mineralized development material from La Preciosa was above plan for 2026 to date, primarily due to Mill Circuit 2 becoming available ahead of scheduled for La Preciosa development ore in the second quarter. Grades were below plan as elevated silver prices supported the processing of additional lower-grade development ore, which also impact cash and AISC costs per AgEq oz and per tonne processed.
• 2026 Drill Program: A third drill was added at La Preciosa, with 10,675 meters of drilling completed at the end of Q3 as part of the planned 15,000 metres of exploration for 2026. Drilling has now shifted from infill holes to exploration and step-out holes at high-priority targets at vein intersections and projections. It is important to note that none of the infill drilling holes completed to date were included in the mineral reserve update in Q2 2026. Furthermore, most of the exploration holes are in areas outside the current resource model.
• Consistent Mill Throughput & Production: In Q3 2026, mill throughput remained on plan with 190,379 tonnes processed from both Avino and La Preciosa. Continued steady mill performance and availability reflects the impact of targeted upgrades and automation initiatives led by our operations and maintenance teams over recent years. Avino produced 582,836 silver equivalent¹ ounces in Q3 2026, up slightly from Q3 2025 on a consolidated basis.

Operating Highlights

• Health and Safety Performance: For year-to-date 2026, the Lost Time Incident Frequency Rate ("LTIFR") of 7.47 per 1,000,000 hours worked. Total reportable lost time incident rate was 0.15.

Corporate

• Normal Course Issuer Bid ("NCIB"): Since the approval of the Company's NCIB in April 2026, Avino has repurchased and subsequently cancelled over 1 million common shares, decreasing the issued and outstanding common shares by the same amount. As previously announced, the Company is permitted to repurchase for cancellation up to an aggregate of 8,248,566 common shares prior to April 7, 2027. The Company believes the NCIB is a flexible tool as part of its overall capital allocation program and remains committed to returning value to shareholders by reducing the number of shares outstanding, therefore increasing percentage of ownership and earning per share.

2026 Capital Expenditures

Capital expenditures for up to Q3 2026 totaled $15 million, compared to $9 million in the corresponding period in 2025. The increased amount is in line with our capital budget for 2026 of $20 to $26 million and was primarily spent on mine development and equipment for future production mining operations at La Preciosa, as well as the Company's consolidated 30,000 metre exploration program.

Production Guidance

With additional mine development work and the processing of lower grade development ore from La Preciosa, as well as a change to mine sequencing at Avino, the Company is expecting to produce less silver ounces from La Preciosa and less copper pounds from Avino than initially forecasted at the beginning of the year. These decisions were made with long-term planning in mind and as such, the Company is providing updated production and operating guidance for 2026, as the Company expected to be at or slightly below the lower end of the guided range for silver equivalent production on a consolidated basi