Avino Silver & Gold Mines Ltd.

Avino Silver & Gold Mines Ltd.

May 23, 2012 08:00 ET

Avino Updates Progress at the Elena Tolosa Zone of the Main Avino Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 23, 2012) - Avino Silver & Gold Mines Ltd. ("Avino" or "The Company") (TSX VENTURE:ASM)(NYSE MKT:ASM)(NYSE Amex:ASM)(FRANKFURT:GV6)(BERLIN:GV6) is pleased to announce further results from the 2012 drill program on the Elena Tolosa ("ET") zone at its main mine located 80 km NE of Durango, Mexico.

The holes are part of a program to explore an area of the main Avino vein system below the 12th level of the mine where the Company ceased mining in 2001 due to low metals prices and the closure of a key smelter.

Avino has commissioned Wardrop, a Tetra Tech company, to prepare an NI 43-101 compliant technical report on the resource at the ET zone based on results of the 2006, 2007, 2008 and this year's 2012 drilling. By the end of this year's drilling program, over 34 holes will have tested the ET zone of the main Avino vein system below the 12th level.

As shown on Avino's website, the 2012 holes fill gaps between holes drilled by the Company in 2006, 2007 and 2008.

The Avino deposit strikes approximately east-west and dips at 60-70° to the south. All holes to explore the vein zone area are therefore drilled from south to north at various bearings and dip angles in order to intersect the structure at a given depth.

Results are as follows:

Hole # Bearing Dip Down Hole
(from - to)
Copper %
ET-12-04 336 -63 314.4 - 358.3 43.9 77 0.33 0.88
314.4 - 327.75 13.35 81 0.39 0.58
Including: 327.75 - 334.5 6.75 28 0.31 0.72
334.5 - 358.3 23.8 77 0.33 1.12
ET-12-05 336 -62 345.1 - 356.9 11.8 104 0.97 0.63
Including: 345.1 - 345.8 0.7 1183 39.59 2.44
ET-12-06 336 -70 380.6 - 388.65 8.05 258 0.11 1.14

Holes are drilled using Avino's own Long year 44 core rig at thin wall NQ diameter. Core is sawed at Avino's core storage facility at the secure mine site. Samples of vein material, usually from a few centimeters to 1.5m are placed in plastic bags. The sealed bags are collected by personnel from Inspectorate Labs in Durango at the mine site facilities.

Gold analyses are by 30 gram fire assay with an atomic absorption finish. Silver, zinc and lead are analyzed as part of a multi-element inductivity couples argon plasma ("ICP") package using a four-acid digestion with over-limit results for silver being reanalyzed with assay procedures using fire assay and gravimetric. The company employs a rigorous quality control program that includes standardized material, blanks and core duplicates.

The project is under the supervision of Chris Sampson, P.Eng, BSc, ARSM Avino Consultant, who is a qualified person within the context of National Instrument 43-101 and has prepared and approved the technical data in this news release.

Founded in 1968, Avino's mission is to create shareholder value through profitable organic growth at the historic Avino property near Durango, Mexico. We are committed to managing all business activities in an environmentally responsible and cost-effective manner, while contributing to the well-being of the community in which we operate.

Our primary goal is to become a significant low cost primary silver producer. Our specific objectives are to achieve full time commercial production as soon as possible, expand resources, reserves and the mines output as well as to identify, explore and develop new targets on the property.


David Wolfin, President & CEO

This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

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.

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