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Avino Provides Update on San Gonzalo Mining & Milling and Commences 2011 Drill Program

Avino News Release:

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 2, 2011) - Avino Silver and Gold Mines Ltd. (TSX VENTURE:ASM)(OTCBB:ASGMF)(BERLIN:GV6)(FRANKFURT:GV6) is pleased to provide the following update on mining and milling operations for the past 3 months.

The processing of surface stockpiles of copper ore to test the new mill facilities was completed in October 2010. Approximately 17,500 tonnes were treated resulting in 419 tonnes of concentrate. Recovery rates were 66% Gold, 58% Silver and 56% copper. The sale of this concentrate has been finalized with a payment of US$1,016,680.00.

In November, following the relining of the ball mill and the changeover of several conveyor belts in the crushing plant, processing of the San Gonzalo development material began with a daily treatment rate of approximately 180 tonnes per day. This rate was maintained until the development material was finished on January 14, 2011. During this period, a total of 5,896 tonnes of development ore was processed for the production of 192 tonnes of concentrate grading 11.54g/t gold, 3.617kg/t silver with minor amounts of copper, lead and zinc. Feed grade averaged 205g/t Ag and 0.78g/t Au. Plans are being formulated and plant testing will continue to determine the optimum process conditions in order to improve the recoveries.

With an inventory of approximately 200 wet tonnes of bulk concentrate, proposals are currently being sought from various interested parties for the sale of the product.

Development for the extraction of the 10,000 tonne bulk sample was completed by the mining contractor (DMG) in early January. The main Stope 2-140 has approximately 6350 tonnes ready for drawdown and there is approximately 4700 tonnes on stockpile near the crushing plant. The smaller stope to the West where a cut and fill mining method is used has the potential for additional mill feed with further development. The broken ore inventory to date will provide approximately 4 months of mill feed at the current milling rate. Plans are now in place to develop the zone to the East on level 2260 towards drill hole SG-07-33 for future mill feed. This is a wide structure with good potential.

Following a complete overhaul of Avino’s longyear 44 drill and a new drill contract for personnel and materials, Avino started its regional exploration drill program on January 27 and the first hole SG-11-01 was finished January 30th. The hole was drilled on bearing 215,dip 60 length 88.75 m and successfully intersected the San Gonzalo structure from hole 80.90 to 83.40m east of the area currently being mined. 

Holes SG-11-02 thru SG-11-09 will all explore areas of San Gonzalo as a guide to mine development; hole locations can be viewed on Avino’s website, http://www.avino.com/i/pdf/AvinoNRFeb0211.pdf

Material from the surface stockpiles was assayed on site and at SGS Labs in Durango. Development material from the San Gonzalo zone was assayed at SGS, Durango.

ON BEHALF OF THE BOARD

David Wolfin, President

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.

For more information, please contact

Avino Silver & Gold Mines Ltd.
David Wolfin
President
604.682.3701
604.682.3600 (FAX)
ir@avino.com
www.avino.com

Avino Samples Up to 0.65m of 4576 g/t Ag & 9.09 g/t Au at San Gonzalo

Good news from Avino today. Now that their mine is finally running again the company needs results like this to be able to grow further. In a few years Avino has developed from a sleeping company to a modern running operation. In 2010 the company started a Facebook and a Twitter acocunt, and is seeking continuous media exposure. We bought shares of Avino in July 2009 @ US$0.63 recently we sold 40% of our shares in Avino at a 304% profit.

When do you sell?

This sale had nothing to do with Avino, when a stock in our portfolio is exceeding 250% gains we sell about 40%-50% of our shares. This is just the method we use  to create “free” shares for our portfolio. Once we have these free positions in our portfolio we intend to NEVER sell them, unless a share price is clearly much to high. It could mean years of waiting (e.g. 10-20 years!), but at a certain point the companies will no longer be junior explores. Many things can happen from mergers to take-overs new properties, etc. etc. The point is that it is very likely that some of these positions will start paying dividends at some point. We use the money from the successful sales  to buy shares of new interesting companies. The goal is to do the same with these companies and thus building a very solid and ever growing portfolio. The best retirement plan ever!

Avino News Release:

Avino Silver and Gold Mines (Avino) is pleased to report on further progress from the bulk sampling program at Avino’s San Gonzalo mine 85Km North east of Durango, Mexico.

Avino has been developing two stopes 2-080 and 2-140 above the 2260 level. To date approximately 10,000 tonnes have been mined and stockpiled. The mill has been processing development rock from the initial drift along the San Gonzalo vein on the 2260 level but will start on the stockpiled rock from the stopes by the end of this week. There is approximately 1500 tonnes left to mine from the two stopes as part of the bulk sample but Avino has been extending level 2260 to the South east along the San Gonzalo vein structure towards drill hole SG-07-33. This hole drilled from surface in 2007 intersected 116.15 to 122.70m (6.55m) 0.76 g/t gold 141 g/t silver. A new stope will be started on this area of the San Gonzalo vein. (Plan maps can be viewed on Avino’s website).

As part of the stoping program channel samples have been taken across the back (i.e. roof) of the stope. The first series (sample numbers R Line 1 etc.) at approximately 2272 elevation (i.e. 12m above level 2260) and the second series (sample numbers II line 1 etc) at 2284m elevation or 24m above level 2260.

The sampling results are shown in the following tables

Sample line Width m Gold g/t Silver g/t Lead ppm
R- 1 2.35 1.058 232 2767
R- 2 1.95 1.396 251 2777
R- 3 2.50 1.214 534 4087
4 2.35 1.319 130 5606
R- 5 2.50 0.534 133 7641
R- 6 2.05 1.109 166 3277
R- 7 1.50 1.482 382 3116
R- 8 1.30 1.933 948 2906
R- 9 1.40 0.415 270 1651
R- 10 1.35 1.000 327 1454
R- 11 1.25 0.842 346 5832
R- 12 1.30 1.279 409 3101
R- 13 1.10 1.403 340 3120
R- 14 1.55 0.639 148 1216
Average 1.75 1.099 308 3701

Total sampled length along vein 24.45m.

Sample line Width m Gold g/t Silver g/t Lead ppm
II – 1 1.25 2.078 848 2958
II – 2 1.00 1.034 627 13194
II – 3 1.60 1.400 594 5833
II – 4 1.25 1.573 549 10533
II – 5 1.30 1.388 860 3159
II – 6 1.65 1.300 571 5543
II – 7 1.85 0.729 383 3134
II – 8 2.45 1.471 630 5297
II – 9 2.35 4.053 717 15022
II – 10 1.60 0.975 697 5755
II – 11 1.70 0.415 564 5533
II – 12 1.75 0.586 227 4745
II – 13 2.05 0.676 360 11671
II – 14 2.40 1.112 276 12173
II – 15 2.50 0.536 331 7402
II – 16 2.30 0.696 212 3942
II – 17 2.35 0.474 278 4962
II – 18 1.55 0.514 352 4139
II – 19 2.10 0.900 270 3921
II – 20 2.15 0.573 340 1865
II – 21 2.35 0.781 358 2035
II – 22 2.50 0.448 185 3666
II – 23 3.05 0.588 222 4820
II – 24 2.05 0.724 287 3725
II – 25 1.85 0.431 127 2875
II – 26 1.25 0.705 201 1973
II – 27 1.05 0.973 654 3039
II – 28 1.45 0.818 316 3196
II – 29 1.50 0.767 278 2375
II – 30 1.55 0.859 349 1525
II – 31 1.45 0.956 441 3583
II – 32 1.60 1.526 340 2716
Average 1.84 0.987 397 5307

Total sampled length along vein 58.80m.

The sampling encountered gold values as high as 9.09 g/t over a 0.45m width and 7.77 g/t (Series II Line 9 samples 156762 and 156763) Silver values as high as 1570 g/t over 0.6m width (sample 156746 series II, line 5) 4576 g/t over 0.65 m width (sample 156757 series II, line 8) and 4262 g/t over 0.45m width (sample 156762 series II line 9) were encountered.

In accordance with geostatistical conclusions in Resource estimate on the San Gonzalo vein by David Gunning P.Eng August 31, 2009, a 43101 compliant report these silver values were cut to 1500 grams per tonne.

The full sampling results can be viewed on Avino’s website

Samples are from channels cut across the San Gonzalo 1 vein. The samples were assayed by Inspectorate Labs. Samples were crushed and ground in Durango with pulps assayed in Reno, NV using fire assay and AA finish for gold, four acid digestion and AA for most silver with fire assay and gravimetric finish for very high silver, Aqua Regia digestion and ICP for base metals.

ON BEHALF OF THE BOARD

“David Wolfin”
______________________________
David Wolfin
President

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. 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.

Source: Company website

Avino Announces $5.1 Million Financing

Last friday Avino announced a private placement for $5.1 million financing. The net proceeds of this offering will be used to advance the company’s San Gonzalo silver, gold, lead and zinc project at Durango, Mexico and general working capital requirements. Today the stock surged 10% to a new 52-week high of $2.40 We bought shares Avino in July 2009 @ $0.63 using today’s intra-day high this means a 280,9% gain. We think this company still has a very bright future. We did sell some shares however, just as we have done with all shares exceeding 250% gains these weeks. The correction last week did not come though like we expected and gold and silver prices seem to stabilize a bit. This trend is likely to continue the coming weeks, for gold this means the $1378-$1425 range and for silver $27.50-$30.50 We expect the next big surge in commodities in the beginning of 2011. The surge still might come sooner if global circumstances give reason for it (Euro crisis, Korean situation). We will announce new stock picks within a month!

Avino News Release:

Avino Silver and Gold Mines Ltd. (the “Company”) is pleased to announce that it has arranged a private placement of up to 2,700,000 units at a price of $1.90 per unit, each unit consisting of one common share and one non-transferrable share purchase warrant. Each warrant will entitle the investor to purchase one additional common share with a term of three years at an exercise price of $2.50. Sprott Asset Management LP on behalf of certain funds and managed accounts has agreed to participate in this private placement. In addition, units will be sold by the Company to investors introduced by Sprott Private Wealth LP (“SPW”). A cash commission of 5% of the gross proceeds from units sold to such investors and 5% compensation warrants are payable to SPW.

The net proceeds of this Offering will be used to advance the Company’s San Gonzalo silver, gold, lead and zinc project at Durango, Mexico and general working capital requirements.

The financing is Subject to approval of The TSX Venture Exchange and all regulatory authorities. The securities issued by the Company in connection with this financing are subject to a 4-month “hold period” as prescribed by the TSX Venture Exchange.

Founded in 1968, Avino has established a long record of mining and exploration in Mexico. The Company’s focus is to bring the property to production. Avino remains well funded.

ON BEHALF OF THE BOARD

“David Wolfin”
______________________________
David Wolfin
President & Chief Executive Officer

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. 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.

Source: Company website

Avino Samples Up to 13.95 g/t Au, 842 g/t Ag at San Gonzalo

Avino Silver and Gold Mines continuous to bring us good news. We bought Avino in July 2009 at $US0,63 using today’s intra-day high of US$2,08 this means a 230,1% gain.

Avino Press Release:

Avino Silver and Gold Mines (Avino) is pleased to report on progress from its bulk sampling program at the San Gonzalo mine northeast of Durango, Mexico.

As Avino reported in its October 13th news release, two raises were driven to connect the lower level 2 (2260m elevation) with the upper level 1 (2306m elevation). The assays from initial sampling in the eastern raise have now been received. Location of these channel samples can be viewed on Avino’s website

Line  Width(m)   AU	AG	Lead	Zinc 	Copper
		(g/T)  (g/t)    (g/t)	(g/t)	(g/t)
  1	0.75	1.112	227	4012	1772	930
  2	1.10	3.621	508	7007	4295	657
  3	1.05	2.243	384	4817	718	1263
  4	1.25	6.120	216	2563	1206	2398
(Inc.):	0.80	1.715	222.2	1828	1014	292
	0.45	13.95	203.7	3870	1548	6141
  5	1.15	2.221	380	5712	1330	1689
(Inc.):	0.65	1.899	93.4	182	266	153
	0.50	2.639	752.2	12900	2714	3685
  6	1.25	1.436	260	3921	1925	852
  7	1.30	1.391	727	5667	1305	448
(inc.):	0.75	1.608	728.9	2122	1384	538
	0.55	1.095	724.9	10500	1198	326
  8	1.15	0.670	313	1656	1339	667
9	1.10	1.413	344	4322	904	1394
10	1.25	2.078	276	12255	1762	891
11	1.60	1.077	315	2339	482	815
12	1.30	3.642	514	5893	698	745
(inc.):	0.60	2.74	672.6	10600	1120	1352
	0.70	4.416	378.5	1859	337	225
13	1.35	1.698	707	3323	610	372
14	1.65	1.493	422	4202	896	258
(inc.):	0.60	2.644	242.6	8349	1267	411
	0.50	1.181	842.1	2328	862	214
	0.55	0.52	234.7	1382	522	132
15	1.10	1.518	588	2304	610	173
(inc.):	0.55	1.895	845.7	3570	914	253
	0.55	1.14	329.9	1037	306	93
16	1.60	1.122	366	3234	824	334
 17	1.30	4.030	171	10609	633	509
(inc.):	0.65	6.852	98.6	20000	855	845
	0.65	1.207	243.2	1218	410	172
18	1.25	1.769	224	12334	1161	1091
Avg:	1.25	2.135	389	5313	1197	831

(The full sampling results can be viewed on Avino’s website )

Samples are from channels cut across the San Gonzalo 1 vein. The samples were assayed by Inspectorate Labs. Samples were crushed and ground in Durango with pulps assayed in Richmond BC using fire assay and AA finish for gold, four acid digestion and AA for most silver with fire assay and gravimetric finish for very high silver, Aqua Regia digestion and ICP for base metals.

Avino’s mine staff report that approximately 2000 tonnes of mineralized vein rock have been broken from stope 2-140 so far, which is calculated to grade 1.9g/t gold and 340 g/t silver.

This compares well with the originally inferred resource (Orequest August 31, 2009 43101 compliant report) which estimated 444,250 tonnes at San Gonzalo grading 2.61 g/t gold, 322 g/t silver, 1% lead and 1.5% zinc.

Avino’s mill has now completed processing the stockpiled copper ore from the original mining operation on the ET zone and will now undergo a two week maintenance upgrade prior to starting milling of the San Gonzalo material.

Founded in 1968, Avino has established a long record of mining and exploration in Mexico. The Company’s focus is to bring the property to production. Avino remains well funded.

For more information on the San Gonzalo project, visit the Company’s website at www.avino.com

ON BEHALF OF THE BOARD

“David Wolfin”
______________________________
David Wolfin
President & CEO

Source: Company website