Avino Silver & Gold Reports 2014 Net Income of $2,514,169

Avino Silver & Gold Mines Ltd. (TSXV:ASM,NYSEMKT:ASM) released its financial results for 2014, noting that its net income came to $2,514,169, or $0.08 per share, up from $848,212, or $0.03 per share, in 2013. Meanwhile, 2014 revenues came to $19,297,953, up 20 percent from the previous year.

Other financial highlights include:

• Consolidated all-in sustaining cash cost per AgEq ounce1 was $12.24 in 2014 compared to $14.39 in 2013
• Income from mine operations was $7,904,549 in 2014, an increase of $778,257 from 2013
• General and administrative expenses were $3,220,134 in 2014 compared to $3,339,069 in 2013
• Earnings before income taxes were $4,881,915 in 2014 compared to $3,409,212 in 2013
• Earnings per share, basic and diluted, was $0.08 in 2014 compared to $0.03 in 2013
• Average realized prices per ounce of silver and gold were US$19.04 and US$1,266 respectively for 2014 and US$22.59 and US$1,342 respectively for 2013
• Cash flow from operations before movements in working capital was $4.3 million for 2014, compared to $5.2 million the previous year
• Cash flow per share1, basic and diluted, was $0.13 per share for 2014, compared to $0.19 per share for 2013.
• Raised $12.8M (US$11.5M) through the issuance of 4,982,677 shares at an average price of $2.56 (US$2.31) per share

Operational highlights include:

• Silver equivalent production for 2014 increased 49% to 1,342,150 oz* compared to 2013
• Silver production for 2014 increased 39% to 969,524 oz compared to 2013
• Gold production for 2014 increased 60% to 5,180 oz compared to 2013
• Copper production for 2014 increased 100% to 305,417 lbs compared to 2013

David Wolfin, president, CEO and director of Avino, commented:

In 2014, we delivered our third consecutive year of production growth. We managed to maintain operating costs and remain cash flow positive despite weaker metal prices. During the year we achieved several significant advancements including the completion of our Avino Mine and Mill Circuit 3 expansion and the acquisition of Bralorne Gold Mines Ltd. Looking ahead, we anticipate that 2015 will be the most productive year the Company has seen in its 46 year history. I would like to thank our excellent staff of well-trained managers, geologists, mining engineers, metallurgists and the rest of the operations team for their continued hard work and dedication.

Click here to read the full Avino Silver & Gold Mines Ltd. (TSXV:ASM,NYSEMKT:ASM) press release.