ASM: TSX/NYSE American
VANCOUVER, BC, Oct. 8, 2020 /CNW/ - Avino Silver & Gold Mines Ltd. (TSX:
ASM) (NYSE American: ASM) (FSE: GV6) ("Avino" or "the
Company") is pleased to announce that, through continued
good faith negotiations, the Company and the Mexican Mining Union
have reached an agreement and the strike at the mine has ended.
"We have reached a conclusion to the strike at the Avino Mine.
Negotiations were ongoing during the last 12 weeks and a successful
resolution to a challenging situation has been achieved," said
David Wolfin, President and CEO. "I
would like to thank our Mexican management team who worked
tirelessly to oversee the negotiations and bring this to a
close. We have a long history of good employee and community
relations and I would like to thank the many dedicated workers and
members of the community for their support."
The strike has ended, and due to an extended period of
inactivity at the mine, and before the company can restart
operations, we will carry out a comprehensive evaluation of all
underground, milling and surface equipment to ensure all are in
excellent working condition.
Avino continues to move forward with the proposed dry-stack,
tailings storage facility ("TSF#2"), as mentioned in the Company's
news release dated February 10,
2020. TSF#2 is on privately owned Avino land, is permitted,
and is currently in the final stage prior to commencing
construction.
The Company is looking forward to positive discussions between
the community of Panuco de
Coronado and the State Government which should help to
provide the social approval to move forward with the Construction
of TSF#2. Their combined support is important to the vitality of
the community and will aid in restarting production activities. The
restart of production activities is expected to provide significant
direct economic benefits and stimulus for the local
communities.
We wish to thank all our stakeholders, shareholders, local
communities and employees for their support and patience during the
last few months, and we can now all focus on the future.
On Behalf of the Board
"David Wolfin"
________________________________
David Wolfin
President & CEO
Avino Silver & Gold Mines
Ltd.
Safe Harbor Statement - This news release contains
"forward-looking information" and "forward-looking statements"
(together, the "forward looking statements") within the meaning of
applicable securities laws and the United States Private Securities
Litigation Reform Act of 1995, including the updated mineral
resource estimate for the Company's Avino Property located near
Durango in west-central Mexico
(the "Property") with an effective date of February 21, 2018, and amended on December 19, 2018, including but are not limited
to, the Company's ability to meet its production guidance at levels
achieved prior to March 31, 2020.
prepared for the Company, and reference to Measured, Indicated,
Inferred Resources referred to in this press release. These
forward-looking statements are made as of the date of this news
release and the dates of technical reports, as applicable. Readers
are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the future
circumstances, outcomes or results anticipated in or implied by
such forward-looking statements will occur or that plans,
intentions or expectations upon which the forward-looking
statements are based will occur. While we have based these
forward-looking statements on our expectations about future events
as at the date that such statements were prepared, the statements
are not a guarantee that such future events will occur and are
subject to risks, uncertainties, assumptions and other factors
which could cause events or outcomes to differ materially from
those expressed or implied by such forward-looking statements. No
assurance can be given that the Company's Property does not have
the amount of the mineral resources indicated in the updated report
or that such mineral resources may be economically extracted.
Such factors and assumptions include, among others, the effects
of general economic conditions, the price of gold, silver and
copper, changing foreign exchange rates and actions by government
authorities, uncertainties associated with legal proceedings and
negotiations and misjudgments in the course of preparing
forward-looking information. In addition, there are known and
unknown risk factors which could cause our actual results,
performance or achievements to differ materially from any future
results, performance or achievements expressed or implied by the
forward-looking statements. Known risk factors include risks
associated with project development; the need for additional
financing; operational risks associated with mining and mineral
processing; fluctuations in metal prices; title matters;
uncertainties and risks related to carrying on business in foreign
countries; environmental liability claims and insurance; reliance
on key personnel; the potential for conflicts of interest among
certain of our officers, directors or promoters with certain other
projects; the absence of dividends; currency fluctuations;
competition; dilution; the volatility of our common share price and
volume; tax consequences to U.S. investors; and other risks and
uncertainties. Although we have attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. We are under no obligation to update or alter any
forward-looking statements except as required under applicable
securities laws.
Neither the TSX nor its Regulation Services Provider (as that
term is defined in the policies of the TSX) accepts responsibility
for the adequacy or accuracy of this release.
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content:http://www.prnewswire.com/news-releases/a-successful-resolution-to-the-strike-at-the-avino-mine-301148278.html
SOURCE Avino Silver & Gold
Mines Ltd.