Avino Silver and Gold Mines Ltd. (ASM: TSX.V, ASM: NYSE -MKT; “Avino” or “the Company”) is pleased to announce that its Mexicansubsidiary COMPAÑIA MINERA MEXICANA DE AVINO, S.A. DE C.V. has entered into amaster credit facility with CATERPILLAR CRÉDITO, S.A. DE C.V., SOFOM, ENR(“Caterpillar Finance”) for up to US $5 million.
The credit facility bears interest at rates ranging from 0% to 4.95% per annum.Equipment leased under the credit facility has terms of 18 months to 60 months.These terms are dependent on the Company’s requirements and equipment acquired.
The Company is very pleased about the new credit facility arrangement withCaterpillar Finance as it will help the Company to advance its currentoperations at San Gonzalo and to reopen the Avino Mine. With the creditfacility in place, the Company has initiated the acquisition of the followingpieces of mining equipment and expects to receive them by December 31, 2012 orshortly thereafter; the equipment being acquired for delivery before the end ofthe year represents about a third of the credit facility:
• Caterpillar 420F Backhoe loader
• Caterpillar R1600 Scoop tram
• Oldenburg underground rock drill.
About Avino
Founded in 1968, Avino’s mission is to create shareholder value throughprofitable organic growth at the historic Avino property near Durango, Mexico.We are committed to managing all business activities in an environmentallyresponsible and cost-effective manner, while contributing to the well-being ofthe community in which we operate.
Our primary goal is to become a significant low cost primary silver producer.Our specific objectives are to achieve full time commercial production as soonas possible, expand resources, reserves and the mines output as well as toidentify, explore and develop new targets on the property.
ON BEHALF OF THE BOARD
“David Wolfin”
_______________________________
David Wolfin
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that termis defined in the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this release. This release contains statementsthat are forward-looking statements and are subject to various risks anduncertainties concerning the specific factors disclosed under the heading “RiskFactors” and elsewhere in the Company’s periodic filings with Canadiansecurities regulators. Such information contained herein representsmanagement’s best judgment as of the date hereof based on information currentlyavailable. The Company does not assume the obligation to update anyforward-looking statement.
Safe Harbor Statement - This news release contains “forward-lookinginformation” and “forward-looking statements” (together, the “forward lookingstatements”) within the meaning of applicable securities laws and the UnitedStates Private Securities Litigation Reform Act of 1995, including our beliefas to the extent and timing of various studies including the PEA, andexploration results, the potential tonnage, grades and content of deposits,timing and establishment and extent of resources estimates. Theseforward-looking statements are made as of the date of this news release and thedates of technical reports, as applicable. Readers are cautioned not to placeundue reliance on forward-looking statements, as there can be no assurance thatthe future circumstances, outcomes or results anticipated in or implied by suchforward-looking statements will occur or that plans, intentions or expectationsupon which the forward-looking statements are based will occur. While we havebased these forward-looking statements on our expectations about future eventsas at the date that such statements were prepared, the statements are not aguarantee that such future events will occur and are subject to risks,uncertainties, assumptions and other factors which could cause events oroutcomes to differ materially from those expressed or implied by suchforward-looking statements.
Such factors and assumptions include, among others, the effects of generaleconomic conditions, the price of gold, silver and copper, changing foreignexchange rates and actions by government authorities, uncertainties associatedwith legal proceedings and negotiations and misjudgments in the course ofpreparing forward-looking information. In addition, there are known and unknownrisk factors which could cause our actual results, performance or achievementsto differ materially from any future results, performance or achievementsexpressed or implied by the forward-looking statements. Known risk factorsinclude risks associated with project development; the need for additionalfinancing; operational risks associated with mining and mineral processing;fluctuations in metal prices; title matters; uncertainties and risks related tocarrying on business in foreign countries; environmental liability claims andinsurance; reliance on key personnel; the potential for conflicts of interestamong certain of our officers, directors or promoters of with certain otherprojects; the absence of dividends; currency fluctuations; competition;dilution; the volatility of the our common share price and volume; taxconsequences to U.S. investors; and other risks and uncertainties. Although wehave attempted to identify important factors that could cause actual actions,events or results to differ materially from those described in forward-lookingstatements, there may be other factors that cause actions, events or resultsnot to be as anticipated, estimated or intended. There can be no assurance thatforward-looking statements will prove to be accurate, as actual results andfuture events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-looking statements. We are under no obligation to update or alter anyforward-looking statements except as required under applicable securities laws.
Cautionary Note to United States Investors - The information contained hereinand incorporated by reference herein has been prepared in accordance with therequirements of Canadian securities laws, which differ from the requirements ofUnited States securities laws. In particular, the term “resource” does notequate to the term “reserve”. The Securities Exchange Commission’s (the “SEC”)disclosure standards normally do not permit the inclusion of informationconcerning “measured mineral resources”, “indicated mineral resources” or“inferred mineral resources” or other descriptions of the amount ofmineralization in mineral deposits that do not constitute “reserves” by SECstandards, unless such information is required to be disclosed by the law ofthe Company’s jurisdiction of incorporation or of a jurisdiction in which itssecurities are traded. U.S. investors should also understand that “inferredmineral resources” have a great amount of uncertainty as to their existence andgreat uncertainty as to their economic and legal feasibility. Disclosure of“contained ounces” is permitted disclosure under Canadian regulations; however,the SEC normally only permits issuers to report mineralization that does notconstitute “reserves” by SEC standards as in place tonnage and grade withoutreference to unit measures.