Avino Silver & Gold Mines Ltd. (ASM: TSX-V, ASM: NYSE–MKT, GV6: FSE, “Avino” or “the Company”) is pleased to report its financial results for the second quarter ended June 30, 2015. All financial information, other than non-IFRS measures, is prepared in accordance with IFRS and all dollar amounts are expressed in Canadian dollars unless otherwise specified. The information in this news release should be read in conjunction with the Company's condensed consolidated interim financial statements for the six
months ended June 30, 2015, and associated management’s discussion and analysis (“MD&A”) which are available on the Company's website at www.avino.com and under the Company's profile on SEDAR at www.sedar.com.
“Avino is pleased to report another successful quarter of financial and operational results. We have maintained an efficient cost structure while advancing and expanding our operations. Our low all-in sustaining consolidated cash costs of $11.72 per AgEq is consistent with previous quarters and we continue to review opportunities to further reduce costs and improve efficiencies. Softer metal prices continue to present challenges however our strong financial and operational condition, and the recent receipt of $US10 million prepayment from Samsung, has well positioned the Company to advance and meet its objectives. ” stated Malcolm Davidson, CFO.
Highlights of the Three Months Ended June 30, 2015 (Compared to Q2 2014)

Financial
• Consolidated all-in sustaining cash cost per AgEq ounce1 was $11.72 in the second quarter of 2015 compared to $12.02 in the second quarter of 2014;
• Revenues reported for the quarter were $5,908,883 compared to $5,104,921 in the comparable quarter of 2014, an increase of 16%;
• Income from mine operations was $2,372,903 in the second quarter of 2015, an increase of $60,975 from the second quarter of 2014;
• General and administrative expenses were $1,094,459 in the second quarter of 2015 compared to $931,935 in the second quarter of 2014;
• Earnings before income taxes were $1,214,429 in the second quarter of 2015 compared to $440,797 in the second quarter of 2014;
• Earnings for the second quarter of 2015 were $361,655, an increase of $448,752 from the second quarter of 2014;
• Earnings per share, basic and diluted, was $0.01 in the second quarter of 2015 compared to losses per share of $0.00 in the second quarter of 2014;
• Average realized prices per ounce of silver and gold were US$16.20 and US$1,187 respectively for the second quarter 2015, and US$19.59 and US$1,283 respectively for the second quarter of 2014;

1 Silver equivalent ounces sold (“AgEq ounce”) consists of the number of ounces of silver sold plus the number of ounces of gold sold multiplied by the
ratio of the average spot gold price to the average spot silver price for the corresponding period. Please refer to the information under the heading "NonIFRS
Measures" of this news release for a discussion of cash cost per silver equivalent ounce, all-in sustaining cash cost per silver equivalent ounce,
and cash flow per share.

• Cash flows from operations before movements in working capital were $768,381 during the second quarter of 2015, compared to $2.3 million for the comparative period;
• Cash flow per share1, basic and diluted, was $0.02 per share for the second quarter of 2015, compared to $0.07 per share for the corresponding period of the previous year.

Operational
• Silver equivalent production for the second quarter of 2015 increased 167% to 819,229 oz* compared to 306,342 oz in the second quarter of 2014;
• Silver production for the second quarter of 2015 increased 102% to 451,505 oz compared to the second quarter of 2014;
• Gold production for the second quarter of 2015 increased by 63% to 1,891 oz compared to 1,157 the second quarter of 2014;
• Copper production continued from startup phase in late 2014, and 1,236,622 lbs were recovered during the second quarter.

Financial Review
The Company generated revenues of $5,908,883 during the second quarter of 2015, a 16% increase compared to the second quarter of 2014.
Mine operating income was $2,372,903, an increase of $60,975 or 3% from $2,311,928 during the second quarter of 2014.During the second quarter of 2015, net income increased by $448,752 to $361,655 or $0.01 per share, compared to a net loss of ($87,097) or $0.00, basic and diluted per share during the second
quarter of 2014.
Cash flow from operations before movements in working capital during the second quarter of 2015 was $768,381, a decrease of 67% from the $2.3 million generated during the second quarter of 2014.

Operational Review
• Total silver equivalent production in the second quarter of 2015 increased to 819,299 silver equivalent ounces*, an increase of 167% compared to the corresponding period in 2014. The production growth was due to the completed refurbishment of the 1,000 tonne per day Mill Circuit 3 used to process new
underground material from the Avino Mine.
• Total mill feed processed during the second quarter of 2015 was 135,767 dry tonnes compared to 40,052 dry tonnes during the second quarter of 2014, an increase of 239%.

Costs and Capital Expenditures
Consolidated all-in sustaining cash costs per AgEq ounce1 during the second quarter of 2015 were $11.72 compared to $12.02 during the corresponding period of 2014, a decrease of 2%.
Capital expenditures during the second quarter of 2015, net of concentrate proceeds, were $1,965,268 compared to $2,231,300 for the comparable quarter last year.
Capital expenditures primarily relate to the Avino mine advancement, the process plant expansion for Mill Circuit 3, and equipment to advance operations at the San Gonzalo and Avino mines.

* For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $16 oz Ag, $1,150 oz Au and $3.00 Lb Cu.
Mill production figures have not been reconciled and are subject to adjustment with concentrate sales. Calculated figures may not add up due
to rounding.
1 Silver equivalent ounces sold (“AgEq ounce”) consists of the number of ounces of silver sold plus the number of ounces of gold sold multiplied by the
ratio of the average spot gold price to the average spot silver price for the corresponding period. Please refer to the information under the heading
"Non-IFRS Measures" of this news release for a discussion of cash cost per silver equivalent ounce, all-in sustaining cash cost per silver equivalent
ounce, and cash flow per share.

Avino Mine
On January 1, 2015, Mill Circuit 3 began processing new material taken from underground at the Avino

Mine.
Silver equivalent ounces* produced during the second quarter of 2015 totalled 438,823. This represents an increase of 23% compared to the first quarter of 2015 as there was no production from the Avino Mine during the comparable quarter in 2014.

San Gonzalo Mine
Silver equivalent ounces* produced during the second quarter of 2015 totalled 251,571. This represents an insignificant change compared to the same period 2014.
All-in sustaining cash costs during the second quarter of 2015 were $12.91 per AgEq ounce1 compared to $11.70 in the second quarter of 2014, an increase of 10%.

Mill Circuit 2
Based on the consideration of feed grades, recovery rates, and smelter returns, during the three months ended June 30, 2015, Mill Circuit 2 was used to process both San Gonzalo stockpile mill feed as well as historic above ground stockpiles left from past mining of the Avino vein. The material from San Gonzalo was processed during April and June and the historic stockpiles were processed in May. Combined output from Mill Circuit 2 for the quarter was 95,630 oz Ag and 463 oz Au, or 128,905 oz AgEq*.
The Company will continue to assess the optimal feed material for Mill Circuit 2 based on metals prices, feed grades, recovery rates, concentrate grades and other factors. During the third quarter of 2015, the Company plans to use Mill Circuit 2 to process mill feed from the main Avino Mine.
Bralorne Mine
Exploration and advancement at Bralorne continued throughout the second quarter. The Company intends to commence construction of its tailings embankment raise next week and plans to restart operations in the coming months.

Non-IFRS Measures
The financial results in this news release include references to cash flow per share, cash cost per silver equivalent ounce, and all-in sustaining cash cost per silver equivalent ounce, each of which are non-IFRS measures. Cash flow per share, cash cost per ounce, and all-in sustaining cash cost per ounce are measures developed by mining companies in an effort to provide a comparable standard of performance.
However, there can be no assurance that our reporting of these non-IFRS measures is similar to that reported by other mining companies. Cash flow per share, cash cost per silver equivalent ounce, and all-in sustaining cash cost per silver equivalent ounce are measures used by the Company to manage and evaluate operating performance of the Company’s mining operations, and are widely reported in the silver and gold mining industry as benchmarks for performance, but do not have standardized meanings prescribed by IFRS, and are disclosed in addition to the prescribed IFRS measures provided in the Company’s financial statements and MD&A.

* For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $16 oz Ag, $1,150 oz Au and $3.00 Lb Cu.
Mill production figures have not been reconciled and are subject to adjustment with concentrate sales. Calculated figures may not add up due
to rounding.
1 Silver equivalent ounces sold (“AgEq ounce”) consists of the number of ounces of silver sold plus the number of ounces of gold sold multiplied by the
ratio of the average spot gold price to the average spot silver price for the corresponding period. Please refer to the information under the heading
"Non-IFRS Measures" of this news release for a discussion of cash cost per silver equivalent ounce, all-in sustaining cash cost per silver equivalent
ounce, and cash flow per share.