David Wolfin, President and CEO, and Nathan Harte, CFO of Avino Silver and Gold Mines (TSX:ASM – NYSE:ASM), both join me for a video review of the key metrics and takeaways from the Q4 operations at both the Avino Mine and now with first production contributions from the La Preciosa Mine, both located in Durango, Mexico.  We also discuss the 30,000 meter drill program, with exploration divided equally across both project areas to increase resources, and outline the future growth initiatives and value proposition for the company.

We start off having David highlight the Company’s 5-year production growth plan, to become a larger Mexican intermediate silver producer.  With the ramping up of development and first production at the La Preciosa Project in late 2025, this will lead to meaningful production growth in 2026 and beyond along side the Avino Mine. Then starting in 2028, the Tailings Project will further augment production and lower costs.

Fourth quarter 2025 production was 345,298 silver oz, 1,687 gold oz, 1,295,244 copper pounds (“lbs”), , for consolidated production of 671,583 silver equivalent (AgEq) ounces (oz), with over 50% of AgEq production coming from silver.

Full year 2025 production results of 1,157,828 silver oz, 7,621 gold oz and 5,667,996 of copper lbs for a total of 2.6 million AgEq oz. Full year production results were within thier production estimated guidance of 2.5 to 2.8 million silver equivalent ounces.

OPERATIONAL HIGHLIGHTS – Q4 2025

• Commenced Processing of La Preciosa Development Material: Avino commenced extraction, haulage and processing of mineralized development material from the La Preciosa Mine during the quarter at an average rate of 200 tonnes per day. In total, 11,995 tonnes of mineralized material were processed at the Avino milling and processing facility, which is located 19 kilometres away from the entrance to the La Preciosa Mine.
• Silver Production Increased 22%: Avino produced 345,298 silver equivalent ounces in Q4 2025, representing a strong increase from Q4 of 2024. The increase was driven by development production from La Preciosa, which contributed 48,244 silver ounces, as well as 6% higher silver production from the Avino Mine.
• Continued Elevated Mill Throughput: In Q4 2025, Avino achieved 4% higher mill throughput versus Q4 2024, totalling 189,338 tonnes of material. These throughput levels have been consistent throughout 2025 and were a result of upgrades and automation enhancements made by our operations and maintenance teams, resulting in significant improvements in mill availability.

• Rapid progress at La Preciosa: Avino announced the commencement of underground development at La Preciosa on January 15, 2025, and has been able to extract, haul, process and sell mineralized material from the mine in less than 1 year. Over 24,000 tonnes of material have been mined from La Preciosa in 2025.

• The Gloria and Abundancia veins have been intercepted on the San Fernando ramp that has been driven from surface to Level 3. Development mining is taking place in both directions, south and north of the ramp on each vein for a total of 4 working development faces.
• Avino had approximately US$100 million in cash as of December 31, 2025, as their balance sheet continues to strengthen in this high underlying metals price environment and in line with the company growth initiatives.

If you have any follow up questions for David regarding Avino Silver and Gold then please email me at Shad@kereport.com.

• In full disclosure, Shad is a shareholder of Avino Silver & Gold at the time of this recording.

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