Avino Silver & Gold Mines Ltd. (Canada) Mining Forum Americas 2026

Welcome, everybody. Pleasure to be here. Avino is in its 57th year of being in business. We've got close to 40 years of production under our belt, and we're embarking on the biggest expansion in company history. Our tagline is, "A clear path to transformational growth." It's clear because we own the assets that are going to drive our growth. We're a junior silver producer and explorer. The project is in the heart of Mexico in the state of Durango. It's a safe jurisdiction. We have the special distinction of having 100% Mexican labor force right up to our Chief Operating Officer, which makes it a very unique company to say that, because everyone's been sourced in-country. Project portfolio is made up of 3 key assets. The Avino Mine, which produces around 2.5 million ounces of silver equivalent on an annual basis.

La Preciosa we acquired from Coeur Mining in 2022. We paid $30 million for it. Coeur paid $350 million buying Orko in 2013. They were planning a giant open-pit mine, and under the current government, they were not giving open-pit licenses, so they decided to go in big with their Nevada project at Rochester, so they were divesting a non-core asset. We acquired that, and we're developing that right now. The third asset is the Oxide Tailings Development Project. When we opened Pit Mine in the '70s and '80s, we didn't have the best recovery rates because the material was oxidized and didn't recover well under conventional milling methods. We see an opportunity to reprocess that material. We did a pre-feasibility study on that one, and we're considering moving that project forward.

We have a large silver equivalent resource base, 127 million ounces of silver equivalent in the proven and probable category, 300 million ounces of measured and indicated, 87 million ounces of inferred. 70% of that is pure silver. Here's our growth profile. Since we acquired La Preciosa, we got the permit last year in March. We were one of the first companies to get the permit in Mexico, so our stock really took off, and we started developing on La Preciosa. The plan before the rally was to operate it like hub and spoke, put in a decline, mine the material, and haul it 19 kilometers to Avino. Since our financial position has changed, we are now looking at a standalone operation at La Preciosa, and so we've retained the services of an independent engineering firm.

We expect the pre-feasibility study to be ready in June or July next year. You can see here, the production this year is around 2.5 million. Next year, we expect it to go over 3, and that's because of grade improvement alone. Avino Mill is made up of 4 independent circuits, and the 2 smaller circuits are handling the development material from La Preciosa right now. The grade is 3 times higher than what we're mining at Avino, so it's driving the growth. Here you can see revenue. Last year, 49% was from silver, 20% gold, 31% copper. This year, it's already trending higher because we started developing the La Preciosa material through circuit 1 and circuit 2. We're at 58% and going higher, and this is base case. We think we can even do better than this, but time will tell.

Earlier this year, we published reserves for the first time in company history. There are only two ways to qualify to publish reserves. One is through a feasibility study that was done in 1968, and the other way is under NI 43-101, you need $90 million in revenue. We crossed that threshold in 2024, so now you can see our reserves. There are 13 years of mine life at Avino and 12 at La Preciosa, and the industry average is 8. You can see the peer groups there who we are comparing to. Here you can see our stock in the dark line.