Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the Month of November 2023

Commission File Number: 001-35254

AVINO SILVER & GOLD MINES LTD.

Suite 900, 570 Granville Street, Vancouver, BC V6C 3P1

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

☐ Form 20-F ☒ Form 40-F

Explanatory Note

Avino Silver & Gold Mines Ltd. (the “Company”) is furnishing this Form 6-K to provide its financial information for the nine months ended September 30, 2023, and to incorporate such financial information into the Company’s registration statements referenced below.

Exhibits 99.1 and 99.2 attached hereto are hereby incorporated by reference into the Company’s Registration Statements on Form F-10 (Registration Statement File number 333-270315); Form F-3 (Registration Statement File numbers 333-252081 and 333-226963) and on Form S-8 (Registration Statement File number 333-195120) to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed.

Exhibits:

The following exhibits are filed as part of this Form 6-K.

Exhibit No.		Document

99.1		Unaudited financial statements for the three and nine months ended September 30, 2023 and 2022
99.2		Management’s Discussion & Analysis
101.INS		Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	AVINO SILVER & GOLD MINES LTD.

Date: November 8, 2023	By:	/s/ Jennifer Trevitt
		Jennifer Trevitt
		Corporate Secretary

EXHIBIT 99.1

AVINO SILVER & GOLD MINES LTD.

Condensed Consolidated Interim Financial Statements

For the three and nine months ended September 30, 2023 and 2022

(Unaudited)

-1-

AVINO SILVER & GOLD MINES LTD.

Condensed Consolidated Interim Statements of Financial Position

(Expressed in thousands of US dollars - Unaudited)

	Note			September 30, 2023 (unaudited)		December 31, 2022
ASSETS
Current assets
Cash					$1,856		$11,245
Amounts receivable					2,473		2,672
Amounts due from related parties		11	(b)		31		-
Taxes recoverable		5			5,812		3,737
Prepaid expenses and other assets					2,063		1,671
Inventory		6			8,873		6,260
Total current assets					21,108		25,585
Exploration and evaluation assets		8			50,451		49,804
Plant, equipment and mining properties		10			51,039		44,056
Long-term investments		7			891		1,746
Other assets					4		5
Total assets					$123,493		$121,196
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities					$11,675		$9,469
Amounts due to related parties		11	(b)		-		28
Taxes payable					85		895
Note payable		12			-		4,926
Warrant liability		13			-		475
Current portion of finance lease obligations					1,738		971
Current portion of equipment loans					165		-
Total current liabilities					13,663		16,764
Finance lease obligations					1,406		745
Equipment loans					234		-
Reclamation provision		14			544		445
Deferred income tax liabilities					4,941		5,221
Total liabilities					20,788		23,175
EQUITY
Share capital		15			149,776		145,515
Equity reserves					10,581		9,852
Treasury shares					(97)		(97)
Accumulated other comprehensive loss					(5,569)		(5,223)
Accumulated deficit					(51,986)		(52,026)
Total equity					102,705		98,021
Total liabilities and equity					$123,493	$	121,196

Commitments – Note 18

Approved by the Board of Directors on November 8, 2023:

Peter Bojtos Director David Wolfin Director

The accompanying notes are an integral part of the condensed consolidated interim financial statements

-2-

AVINO SILVER & GOLD MINES LTD.

Condensed Consolidated Interim Statements of Operations and Comprehensive Income (Loss)

(Expressed in thousands of US dollars - Unaudited)

				Three months ended September 30,						Nine months ended September 30,
	Note			2023			2022			2023			2022
Revenue from mining operations		16		$	12,316		$	9,118		$	31,359		$	29,538
Cost of sales		16			9,952			7,058			26,101			18,832
Mine operating income					2,364			2,060			5,258			10,706

Operating expenses
General and administrative expenses		17			1,280			997			3,999			3,469
Share-based payments		15			627			556			1,809			1,618
Income (loss) before other items					457			507			(550	)		5,619
Other items
Interest and other income					5			15			234			67
Loss on long-term investments		7			(295	)		(1,221	)		(899	)		(2,503	)
Fair value adjustment on warrant liability		13			20			86			478			2,692
Unrealized foreign exchange gain (loss)					(234	)		251			182			(231	)
Project evaluation expenses					-			(5	)		-			(80	)
Finance cost					(3	)		(87	)		(80	)		(188	)
Accretion of reclamation provision		14			(13	)		(11	)		(36	)		(32	)
Interest expense					(158	)		(23	)		(275	)		(66	)
Income (loss) before income taxes					(221			(488			(946			5,278
Income taxes:
Current income tax recovery (expense)					111			(142	)		645			(642	)
Deferred income tax recovery (expense)					(693	)		(499	)		280			(2,836	)
Income tax recovery (expense)					(582	)		(641	)		925			(3,478	)

Net income (loss)					(803	)		(1,129	)		(21	)		1,800

Other comprehensive income (loss)
Currency translation differences					230			(290	)		(346	)		(52	)
Total comprehensive income (loss)				$	(573	)	$	(1,419	)	$	(367	)		1,748
Income (loss) per share		15	(e)
Basic				$	(0.01	)	($0.01)			$	0.00		$	0.02
Diluted				$	(0.01	)	($0.01)			$	0.00		$	0.02
Weighted average number of common shares outstanding		15	(e)
Basic					122,433,272			117,876,825			120,093,760			113,027,305
Diluted					122,433,272			117,876,825			120,093,760			116,275,433

The accompanying notes are an integral part of the condensed consolidated interim financial statements

-3-

AVINO SILVER & GOLD MINES LTD.

Condensed Consolidated Interim Statements of Changes in Equity

(Expressed in thousands of US dollars - Unaudited)

	Note		Number of Common Shares		Share Capital Amount			Equity Reserves			Treasury Shares			Accumulated Other Comprehensive Income (Loss)			Accumulated Deficit			Total Equity
Balance, January 1, 2022				102,243,211	$	129,953		$	9,573		$	(97	)	$	(4,969	)	$	(55,953	)	$	78,507

Common shares issued for acquisition of La Preciosa				15,075,000		14,630			-			-			-			-			14,630
Exercise of options				48,000		46			(15	)		-			-			-			31
Issuance costs				-		(13	)		-			-			-			-			(13	)
Share-based payments				-		-			1,618			-			-			-			1,618
Net income for the period				-		-			-			-			-			1,800			1,800
Options cancelled or expired		15		-		-			(831	)		-			-			831			-
Carrying value of exercise of RSUs		15		982,879		899			(899	)		-			-			-			-
Currency translation differences				-		-			-			-			(52	)		-			(52	)
Balance, September 30, 2022				118,349,090	$	145,515		$	9,446		$	(97	)	$	(5,021	)	$	(53,322	)	$	96,521
Balance, January 1, 2023				118,349,090	$	145,515		$	9,852		$	(97	)	$	(5,223	)	$	(52,026	)	$	98,021

Common shares issued:
At the market issuances		15		5,360,300		3,597			-			-			-			-			3,597
Carrying value of RSUs exercised		15		1,005,333		1,019			(1,019	)		-			-			-			-
Issuance costs		15		-		(355	)		-			-			-			-			(355	)
Share-based payments		15		-		-			1,809			-			-			-			1,809
Net loss for the period		15		-		-			-			-			-			(21	)		(21	)
Options cancelled or expired		15		-		-			(61	)		-			-			61			-
Currency translation differences				-		-			-			-			(346	)		-			(346	)
Balance, September 30, 2023				124,714,723	$	149,776		$	10,581		$	(97	)	$	(5,569	)	$	(51,986	)	$	102,705

The accompanying notes are an integral part of the condensed consolidated interim financial statements

-4-

AVINO SILVER & GOLD MINES LTD.

Condensed Consolidated Interim Statements of Cash Flows

(Expressed in thousands of US dollars - Unaudited)

			Nine months ended September 30,
	Note		2023			2022

Cash generated by (used in):

Operating Activities
Net income			$	(21	)	$	1,800
Adjustments for non-cash items:
Deferred income tax expense (recovery)				(280	)		2,836
Depreciation and depletion				2,175			1,558
Accretion of reclamation provision		14		36			32
Loss on investments		7		899			2,503
Unrealized foreign exchange gain				(241	)		(88	)
Unwinding of fair value adjustment		12		74			177
Fair value adjustment on warrant liability		13		(478	)		(2,692	)
Write down of equipment and materials and supplies inventory				95			-
Share-based payments				1,809			1,618
				4,068			7,744

Net change in non-cash working capital items		19		(3,201	)		768
Cash provided by operating activities				867			8,512

Financing Activities
Shares and units issued for cash, net of issuance costs				3,242			30
Lease liability payments				(933	)		(933	)
Equipment loan payments				(184	)		-
Cash provided by (used in) financing activities				2,125			(903	)

Investing Activities
Exploration and evaluation expenditures				(809	)		(793	)
Additions to plant, equipment and mining properties				(6,575	)		(5,347	)
Acquisition of La Preciosa		4		(5,000	)		(15,289	)
Cash provided by (used in) investing activities				(12,384	)		(21,429	)

Change in cash				(9,392	)		(13,820	)

Effect of exchange rate changes on cash				3			(25	)

Cash, beginning				11,245			24,765

Cash, ending			$	1,856		$	10,920

Supplementary Cash Flow Information (Note 19)

The accompanying notes are an integral part of the condensed consolidated interim financial statements

-5-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

1. NATURE OF OPERATIONS

Avino Silver & Gold Mines Ltd. (the “Company” or “Avino”) was incorporated in 1968 under the laws of the Province of British Columbia, Canada. The Company is engaged in the production and sale of silver, gold, and copper and the acquisition, exploration, and advancement of mineral properties. The Company’s head office and principal place of business is Suite 900, 570 Granville Street, Vancouver, BC, Canada. The Company is a reporting issuer in Canada and the United States, and trades on the Toronto Stock Exchange (“TSX”), the NYSE American, and the Frankfurt and Berlin Stock Exchanges. The Company operates the Avino Mine which produces copper, silver and gold at the historic Avino property in the state of Durango, Mexico. The Company also owns interests in mineral properties located in British Columbia and Yukon, Canada.

2. BASIS OF PRESENTATION

Statement of Compliance

These unaudited condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard (“IAS”) 34 – Interim Financial Reporting under International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”). These unaudited condensed consolidated interim financial statements follow the same accounting policies and methods of application as the most recent annual audited consolidated financial statements of the Company. These unaudited condensed consolidated interim financial statements do not contain all of the information required for full annual consolidated financial statements. Accordingly, these unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s December 31, 2022, annual consolidated financial statements, which were prepared in accordance with IFRS as issued by the IASB.

These unaudited condensed consolidated interim financial statements are expressed in US dollars and have been prepared on a historical cost basis except for financial instruments that have been measured at fair value. In addition, these unaudited condensed consolidated interim financial statements have been prepared using the accrual basis of accounting on a going concern basis.

Critical Accounting Judgments and Estimates

The Company’s management makes judgments in its process of applying the Company’s accounting policies to the preparation of its unaudited condensed consolidated interim financial statements. In addition, the preparation of financial data requires that the Company’s management make assumptions and estimates of the impacts on the carrying amounts of the Company’s assets and liabilities at the end of the reporting period from uncertain future events and on the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates as the estimation process is inherently uncertain. Estimates are reviewed on an ongoing basis based on historical experience and other factors that are considered to be relevant under the circumstances. Revisions to estimates and the resulting impacts on the carrying amounts of the Company’s assets and liabilities are accounted for prospectively.

The critical judgments and estimates applied in the preparation of the Company’s unaudited condensed consolidated interim financial statements for the nine months ended September 30, 2023, are consistent with those applied and disclosed in Note 2 to the Company’s audited consolidated financial statements for the year ended December 31, 2022.

-6-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

Basis of Consolidation

The unaudited condensed consolidated interim financial statements include the accounts of the Company and its Mexican subsidiaries as follows:

Subsidiary	Ownership Interest		Jurisdiction	Nature of Operations
Oniva Silver and Gold Mines S.A. de C.V.		100%	Mexico	Mexican operations and administration
Nueva Vizcaya Mining, S.A. de C.V.		100%	Mexico	Mexican administration
Promotora Avino, S.A. de C.V. (“Promotora”)		79.09%	Mexico	Holding company
Compañía Minera Mexicana de Avino, S.A. de C.V. (“Avino Mexico”)		98.45% direct 1.22% indirect (Promotora) 99.67% effective	Mexico	Mining and exploration
La Luna Silver & Gold Mines Ltd.		100%	Canada	Holding company
La Preciosa Silver & Gold Mines Ltd.		100%	Canada	Holding company
Proyectos Mineros La Preciosa S.A. de C.V.		100%	Mexico	Mining and exploration
Cervantes LLP		100%	U.S.	Holding company

Intercompany balances and transactions, including unrealized income and expenses arising from intercompany transactions, are eliminated in preparing the unaudited condensed consolidated interim financial statements.

3. RECENT ACCOUNTING PRONOUNCEMENTS

New and amended IFRS that are effective for the current year:

In the current year, the Company has applied the below amendments to IFRS Standards and Interpretations issued by the IASB that were effective for annual periods that begin on or after January 1, 2023. These standards did not have a material impact on the Company’s disclosures or on the amounts in the current reporting periods.

Amendments to IAS 1 – Presentation of Financial Statements and IFRS Practice Statement 2 Making Material Judgments – Disclosure of Accounting Policies

The amendments change the requirements in IAS 1 with regards to disclosure of accounting policies. The amendments replace all instances of the term “significant accounting policies” with “material accounting policy information.” Accounting policy information is material if, when considered together with other information included in an entity’s financial statements, it can reasonable by expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements.

-7-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

The supporting paragraphs in IAS 1 are also amended to clarify that accounting policy information that relates to immaterial transactions, other events, or conditions, is immaterial and not required to be disclosed. Accounting policy information may be material because of the nature of the related transactions, other events, or conditions, even of the amounts are immaterial. However, not all accounting policy information relating to material transactions, other events, or conditions, is itself material. The IASB has also developed guidance and examples to explain and demonstrate the application of the “four-step materiality process” described in IFRS Practice Statement 2.

The amendments were applied effective January 1, 2023, and did not have a material impact on the Company’s interim consolidated financial statements.

Amendments to IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors – Definition of Accounting Estimates

The amendments replace the definition of a change in accounting estimates with a definition of accounting estimates. Under the new definition, accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty.”

The definition of a change in accounting estimates was deleted; however, the IASB retained the concept of changes in accounting estimates in the Standard with the following clarifications:

	·	A change in accounting estimate that results from new information or new developments is not a correct of an error

	·	The effects of a change in an input or a measurement technique used to develop an accounting estimate are changes in accounting estimates if they do not result from the correction of prior period errors

The amendments were applied effective January 1, 2023, and did not have a material impact on the Company’s interim consolidated financial statements.

Amendments to IAS 12 – Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction

The amendments clarify that companies are required to recognize deferred taxes on transactions where both assets and liabilities are recognized, such as with leases and decommissioning liabilities. The amendments were applied effective January 1, 2023, and did not have a material impact on the Company’s interim consolidated financial statements.

Future Changes in Accounting Policies Not Yet Effective as at September 30, 2023:

Certain new accounting standards and interpretations have been published that are not mandatory for the current period and have not been early adopted. These standards are not expected to have a material impact on the Company in the current or future reporting periods.

Amendments to IAS 1 – Classification of Liabilities as Current or Non-Current with Covenants

The amendments aim to promote consistency in applying the requirements by helping companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current.

In addition, the amendment requires entities to disclose information to enable users of the financial statements to understand the risk that non-current liabilities with covenants could become repayable within twelve months. The amendments are applied on or after the first annual reporting period beginning on or after January 1, 2024, with early application permitted. The amendment is not expected to have a material impact on the Company’s consolidated financial statements.

Amendments to IFRS 16 – Lease Liability in a Sale and Leaseback

-8-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

The amendments require a seller/lessee to subsequently measure lease liabilities arising from a leaseback in a way that it does not recognize any amount of the gain or loss that relates to the right of use it retains. The new requirements do not prevent a seller/lessee from recognizing in profit or loss any gain or loss relating to the partial or full termination of a lease. A seller-lessee applies the amendments retrospectively in accordance with IAS 8 Accounting Policies, Change in Accounting Estimates and Errors to sale or leaseback transactions entered into after the date of initial application.

The amendments are applied on or after the first annual reporting period beginning on or after January 1, 2024, with early application permitted. The amendment is not expected to have a material impact on the Company’s consolidated financial statements.

4. ACQUISITION OF LA PRECIOSA

On March 21, 2022, the Company closed the acquisition with Coeur Mining Inc. (“Coeur”) of all of the issued and outstanding shares of Proyectos Mineros La Preciosa S.A de C.V, a Mexican corporation, and Cervantes LLC, a Delaware LLC, that together hold the La Preciosa property in Mexico (“La Preciosa”).

Total consideration paid to Coeur was comprised of:

	a)	Cash consideration of $15.3 million paid;

	b)	A promissory note for $5 million in favour of Coeur, payable without interest on or before March 21, 2023 (paid prior to March 21, 2023);

	c)	14,000,000 common shares of Avino, with a value of $13.65 million on issuance;

	d)	7,000,000 share purchase warrants with a total value at $2.24 million exercisable at $1.09 per share until September 21, 2023, representing a 25% premium to Avino’s 20-day volume weighted average trading price as of October 26, 2021;

Additionally, Avino issued the following consideration for which payment is contingent on a future event and due to acquisition date uncertainty these are valued at Nil. A liability for these contingent payments will be recognized when related activity and events occur.

	e)	An additional cash payment of $8.75 million, to be paid no later than 12 months after initial production at La Preciosa, up to one-half of which may be paid in common shares of Avino (provided Coeur’s total shareholdings cannot exceed 19.9% of the Company’s total issued and outstanding shares);

	f)	A 1.25% net smelter returns royalty on the Gloria and Abundancia areas of La Preciosa, and a 2.00% gross value royalty on all other areas of La Preciosa; and

	g)	A payment of $0.25 per silver equivalent ounce (subject to inflationary adjustment) of new mineral reserves (as defined by NI 43-101) discovered and declared outside of the current mineral resource area at La Preciosa, subject to a cap of $50 million, and any such payments will be credited against any existing or future payments owing on the gross value royalty.

The transaction has been accounted for as an asset acquisition as La Preciosa is in the exploration and evaluation stage and had not demonstrated technical feasibility, commercial viability, or the ability to provide economic benefits. La Preciosa did not have the workforce, resources and/or reserves, mine plan, or financial resources to the meet the definition of a business for accounting purposes.

-9-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

The purchase consideration has been assigned based on the relative fair values of the assets acquired and liabilities assumed and is summarized as follows:

Cash paid	$	15,301
Note payable		4,665
Common shares		14,630
Share purchase warrants		2,240
Total purchase consideration		36,836
Transaction costs		270
Total acquisition cost	$	37,106

Cash	$	168
Other current assets		1,121
Plant and equipment		1,621
Exploration and evaluation assets		34,524
Accounts payable		(328	)
Net assets acquired	$	37,106

5. TAXES RECOVERABLE

The Company’s taxes recoverable consist of the Mexican I.V.A. (“VAT”) and income taxes recoverable and Canadian sales taxes (“GST/HST”) recoverable.

	September 30, 2023		December 31, 2022
VAT recoverable	$	2,483	$	1,385
GST recoverable		41		25
Income taxes recoverable		3,288		2,327
	$	5,812	$	3,737

6. INVENTORY

	September 30, 2023		December 31, 2022
Process material stockpiles	$	3,262	$	2,788
Concentrate inventory		3,154		1,617
Materials and supplies		2,457		1,855
	$	8,873	$	6,260

The amount of inventory recognized as an expense for the three and nine months ended September 30, 2023 totalled $9,952 and $26,101 (three and nine months ended September 30, 2022 – $7,058 and $18,832). See Note 16 for further details. During the nine months ended September 30, 2023, the Company wrote down $84 of materials and supplies inventory (September 30, 2022 – Nil).

-10-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

7. LONG-TERM INVESTMENTS

The Company classifies its long-term investments as designated at fair value through profit and loss under IFRS 9. Long-term investments are summarized as follows:

	Fair Value December 31,				Movements in foreign		Fair value adjustments			Fair Value September 30,
	2022		Net Additions		exchange		for the period			2023
Talisker Resources Common Shares	$	1,640	$	-	$	8	$	(838	)	$	810
Silver Wolf Exploration Ltd. Common Shares		51		36		-		(34	)		53
Endurance Gold Corp. Common Shares		55		-		-		(27	)		28
	$	1,746	$	36	$	8	$	(899	)	$	891

Silver Wolf Exploration Ltd.

During the nine months ended September 30, 2023, the Company received 500,000 common shares as part of the terms in the Option Agreement with Silver Wolf Exploration Ltd. Upon acquisition, the fair value of these common shares were recorded as “Option Income” as a credit to exploration and evaluation assets (see Note 8). Any subsequent revaluation under IFRS 9 at fair value through profit and loss will be recorded as a gain or loss on long-term investments.

See Note 8 for full details of the Option Agreement.

8. EXPLORATION AND EVALUATION ASSETS

The Company has accumulated the following acquisition, exploration and evaluation costs which are not subject to depletion:

	Avino, Mexico			La Preciosa, Mexico			British Columbia & Yukon, Canada		Total


Balance, January 1, 2022	$	11,052		$	-		$	1	$	11,053

Costs incurred during 2022:
Acquisition costs – Note 4		-			37,618					37,618
Drilling and exploration		719			296			-		1,015
Assessments and taxes		94			61			-		155
Effect of movements in exchange rates		(30	)		-			-		(30	)
Option income		(7	)		-			-		(7	)

Balance, December 31, 2022	$	11,828		$	37,975		$	1	$	49,804
Costs incurred during 2023:
Drilling and exploration		583			384			-		967
Assessments and taxes		88			(243	)		-		(155	)
Effect of movements in exchange rates		22			(124	)		-		(102	)
Option income		(63	)		-			-		(63	)

Balance, September 30, 2023	$	12,458		$	37,992		$	1	$	50,451

-11-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

(a) Avino, Mexico

Option Agreement – Silver Wolf Exploration Ltd. (formerly Gray Rock Resources Ltd.) (“Silver Wolf”)

On March 11, 2021, the Company was informed that Silver Wolf received TSX Venture Exchange approval on the previously-announced entrance into an option agreement to grant Silver Wolf the exclusive right to acquire a 100% interest in the Ana Maria and El Laberinto properties in Mexico (the “Option Agreement”). In exchange, Avino received Silver Wolf share purchase warrants to acquire 300,000 common shares of Silver Wolf at an exercise price of C$0.20 per share for a period of 36 months from the date of the TSX Venture Exchange’s final acceptance of the Option Agreement (the “Approval Date”). In order to exercise the option, Silver Wolf will:

1. Issue to Avino a total of C$600 in cash or common shares of Silver Wolf as follows:

	a.	C$50 in common shares of Silver Wolf within 30 days of March 8, 2021 (received on March 26, 2021 – see Note 7 for details);

	b.	A further C$50 in cash or shares of Silver Wolf at Avino’s discretion on or before March 8, 2022 (received on March 30, 2022 – See Note 7 for details);

	c.	A further C$100 in cash or shares of Silver Wolf at Avino’s discretion on or before March 8, 2023 (received on March 13, 2023 – See Note 7 for details);

	d.	A further C$200 in cash or shares of Silver Wolf at Avino’s discretion on or before March 8, 2024; and

	e.	A further C$200 in cash or shares of Silver Wolf at Avino’s discretion on or before March 8, 2025; and

2. Incur a total of C$750 in exploration expenditures on the properties, as follows:

	a.	C$50 on or before March 8, 2022;

	b.	A further C$100 on or before March 8, 2023; and

	c.	A further C$600 on or before March 8, 2025.

All exploration expenditure requirements on the properties have been met as of September 30, 2023

Under the Option Agreement, all share issuances will be based on the average volume weighted trading price of Silver Wolf’s shares on the TSX Venture Exchange for the ten (10) trading days immediately preceding the date of issuance of the shares, and the shares will be subject to resale restrictions under applicable securities legislation for 4 months and a day from their date of issue.

The Option Agreement between the Company and Silver Wolf is considered a related party transaction as the two companies have directors in common.

Unification La Platosa properties

The Unification La Platosa properties, consisting of three leased concessions in addition to the leased concessions situated within the Avino mine area property near the towns of Panuco de Coronado and San Jose de Avino and surrounding the Avino Mine.

In February 2012, the Company’s wholly-owned Mexican subsidiary entered into a new agreement with Minerales de Avino, S.A. de C.V. (“Minerales”) whereby Minerales has indirectly granted to the Company the exclusive right to explore and mine the La Platosa property known as the “ET zone”. The ET zone includes the Avino Mine, where production at levels intended by management was achieved on July 1, 2015.

Under the agreement, the Company has obtained the exclusive right to explore and mine the property for an initial period of 15 years, with the option to extend the agreement for another 5 years. In consideration of the granting of these rights, the Company issued 135,189 common shares with a fair value of C$250 during the year ended December 31, 2012.

The Company has agreed to pay to Minerales a royalty equal to 3.5% of net smelter returns (“NSR”). In addition, after the start of production, if the minimum monthly processing rate of the mine facilities is less than 15,000 tonnes, then the Company must pay to Minerales a minimum royalty equal to the applicable NSR royalty based on the processing at a monthly rate of 15,000 tonnes.

-12-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

Minerales has also granted to the Company the exclusive right to purchase a 100% interest in the property at any time during the term of the agreement (or any renewal thereof), upon payment of $8 million within 15 days of the Company’s notice of election to acquire the property. The purchase would be subject to a separate purchase agreement for the legal transfer of the property.

(b) La Preciosa, Mexico

On March 21, 2022, the Company received approval for the closing of the acquisition of the La Preciosa property from Coeur Mining Inc. (“Coeur”). See Note 4 for further details

(c) British Columbia & Yukon, Canada

Eagle Property - Yukon

The Company has a 100% interest in 14 quartz leases located in the Mayo Mining Division of Yukon, Canada, which collectively comprise the Eagle property.

During the nine months ended September 30, 2023, the Company sold to a subsidiary of Hecla Mining Company (“Hecla”) the Eagle Property for cash consideration of C$250. The gain on sale of the Eagle Property was recorded to “Interest and other income” on the condensed consolidated interim statements of operations and comprehensive income (loss).

-13-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

Minto and Olympic-Kelvin properties – British Columbia

On May 2, 2022, the Company has granted Endurance Gold Corporation the right to acquire an option to earn 100% ownership of the former Minto Gold Mine, Olympic and Kelvin gold prospects contained within a parcel of crown grant and mineral claims (the “Olympic Claims”).

Under the terms of the letter agreement, Endurance can earn a 100% interest in the Olympic Claims if they pay Avino a total cash consideration in the aggregate amount of C$100, issue up to a total of 1,500,000 common shares (“Shares”) of Endurance and incur exploration expenditures in the aggregate amount of C$300; all of which is to be incurred by December 31, 2024. In the event that Endurance earns the 100% interest, the Olympic Claims will be subject to a 2% net smelter return royalty (“NSR”), of which 1% NSR can be purchased by the Endurance for C$750 and the remaining balance of the NSR can be purchased for C$1,000.

As part of the final requirement to earn its interest, Endurance agreed to grant to Avino 750,000 share purchase warrants (“Warrants”) by December 31, 2024, that offer Avino the option to purchase additional shares in the Company for a period of three years from the date of issuance. The exercise price of the Warrants will be set at a 25% premium to the 20-day VWAP share price at the issuance date. During the Option period, if Endurance is successful in defining a compliant mineral resource of at least 500,000 gold-equivalent ounces on the Olympic Claims then Endurance will be obliged to pay Avino a C$1,000 discovery bonus.

The Option agreement is subject to the TSX Venture Exchange acceptance, and any Shares or Warrants to be issued will be subject to a four-month hold period on issuance as per the policies of the TSX Venture Exchange.

During the year ended December 31, 2022, Endurance granted 200,000 common shares and paid C$25 as per the terms of the agreement, which required payment upon signing of a letter agreement between the two parties. As of September 30, 2023, Endurance was in compliance with all terms of the Option agreement, and there were no requirements during the nine months ended September 30, 2023.

9. NON-CONTROLLING INTEREST

At September 30, 2023, the Company had an effective 99.67% (December 31, 2022 - 99.67%) interest in its subsidiary Avino Mexico and the remaining 0.33% (December 31, 2022 - 0.33%) interest represents a non-controlling interest. The accumulated deficit and current period income attributable to the non-controlling interest are insignificant and accordingly have not been presented separately in the unaudited condensed consolidated interim financial statements.

-14-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

10. PLANT, EQUIPMENT AND MINING PROPERTIES

	Mining properties			Office equipment, furniture, and fixtures			Computer equipment			Mine machinery and transportation equipment			Mill machinery and processing equipment			Buildings and construction in process		Total
	$			$			$			$			$			$		$
COST
Balance at January 1, 2022		13,038			595			335			14,240			18,613			11,778		58,599
Additions / Transfers		1,649			185			441			2,383			4,781			2,907		12,346
Writedowns		-			-			-			(1,692	)		(100	)		-		(1,792	)
Effect of movements in exchange rates		-			(17	)		(2	)		(1	)		-			8		(12	)
Balance at December 31, 2022		14,687			763			774			14,930			23,294			14,693		69,141
Additions / Transfers		1,725			74			698			3,182			2,809			678		9,166
Writedowns		-			(3	)		(22	)		(623	)		-			-		(648	)
Effect of movements in exchange rates		(17	)		-			-			-			-			-		(17	)
Balance at September 30, 2023		16,395			834			1,450			17,489			26,103			15,371		77,642

ACCUMULATED DEPLETION AND DEPRECIATION
Balance at January 1, 2022		8,856			294			267			4,944			6,667			1,896		22,924
Additions / Transfers		250			147			331			1,616			146			1,133		3,623
Writedowns		-			-			-			(1,382	)		(80	)		-		(1,462	)
Balance at December 31, 2022		9,106			441			598			5,178			6,733			3,029		25,085
Additions / Transfers		267			89			133			682			780			204		2,155
Writedowns		-			(2	)		(21	)		(612	)		(2	)		-		(637	)
Balance at September 30, 2023		9,373			528			710			5,248			7,511			3,233		26,603

NET BOOK VALUE
At September 30, 2023		7,022			306			740			12,241			18,592			12,138		51,039
At December 31, 2022		5,581			322			176			9,752			16,561			11,664		44,056
At January 1, 2022		4,182			301			68			9,296			11,946			9,882		35,675

-15-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

Included in Buildings and construction in process above are assets under construction of $3,267 as at September 30, 2023 (December 31, 2022 - $3,817) on which no depreciation was charged in the periods then ended. Once the assets are available for use, they will be transferred to the appropriate class of plant, equipment and mining properties.

As at September 30, 2023, plant, equipment and mining properties included a net carrying amount of $5,553 (December 31, 2022 - $2,417) for mining equipment and right of use assets under lease.

11. RELATED PARTY TRANSACTIONS AND BALANCES

All related party transactions are recorded at the exchange amount which is the amount agreed to by the Company and the related party.

(a) Key management personnel

The Company has identified its directors and certain senior officers as its key management personnel. The compensation costs for key management personnel for the three and nine months ended September 30, 2023 and 2022 is as follows:

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Salaries, benefits, and consulting fees	$	289	$	237	$	869	$	975
Share-based payments		502		427		1,472		1,251
	$	791	$	664	$	2,341	$	2,226

(b) Amounts due to/from related parties

In the normal course of operations the Company transacts with companies related to Avino’s directors or officers. All amounts payable and receivable are non-interest bearing, unsecured and due on demand.

The following table summarizes the amounts were due to/(from) related parties:

	September 30, 2023			December 31, 2022
Oniva International Services Corp.	$	100		$	100
Silver Wolf Exploration Ltd.		(131	)		(72	)
	$	(31	)	$	28

For services provided to the Company as President and Chief Executive Officer, the Company pays Intermark Capital Corporation (“ICC”), a company controlled by David Wolfin, the Company’s President and CEO and also a director, for consulting services. For the nine months ended September 30, 2023, the Company paid $215 (September 30, 2022 - $263) to ICC.

(c) Other related party transactions

The Company has a cost sharing agreement with Oniva International Services Corp. (“Oniva”) for office and administration services. Pursuant to the cost sharing agreement, the Company will reimburse Oniva for the Company’s percentage of overhead and corporate expenses and for out-of-pocket expenses incurred on behalf of the Company, with a 2.5% markup. David Wolfin, President & CEO, and a director of the Company, is the sole owner of Oniva. The cost sharing agreement may be terminated with one-month notice by either party without penalty. During the three and nine months ended September 30, 2023, administrative fees of $11 and $36 were paid to Oniva (three and nine months ended September 30, 2022 - $11 and $31)

-16-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

The transactions with Oniva during the three and nine months ended September 30, 2023 and 2022, are summarized below:

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Salaries and benefits	$	240	$	218	$	729	$	670
Office and miscellaneous		107		119		364		325
	$	347	$	337	$	1,093	$	995

12. NOTE PAYABLE

On March 21, 2022, the Company closed the acquisition of the La Preciosa property from Coeur Mining Inc. (see Note 4 for further details). As part of the agreement, the Company issued a promissory note payable of $5 million due on or before March 21, 2023. The present value of the note payable was calculated using a discount interest rate of 6.71%.

Prior to March 21, 2023, the Company repaid the promissory note payable in full.

The continuity of the note payable is as follows:

	September 30,			December 31,
	2023			2022
Balance at beginning of the period	$	4,926		$	-
Additions		-			4,665
Repayments		(5,000	)		-
Unwinding of fair value adjustment		74			261
Balance at end of the period		-			4,926
Less: Current portion		-			(4,926	)
Non-current portion	$	-		$	-

-17-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

13. WARRANT LIABILITY

The Company’s warrant liability arises as a result of the issuance of warrants exercisable in US dollars. As the denomination is different from the Canadian dollar functional currency of the entity issuing the underlying shares, the Company recognizes a derivative liability for these warrants and re-measures the liability at the end of each reporting period using the Black-Scholes model. Changes in respect of the Company’s warrant liability are as follows:

	September 30, 2023			December 31, 2022
Balance at beginning of the period	$	475		$	741
Warrants issued		-			2,240
Fair value adjustment		(478	)		(2,935	)
Effect of movement in exchange rates		3			(111	)
Balance at end of the period	$	-		$	475

Continuity of warrants during the periods is as follows:

	Underlying Shares			Weighted Average Exercise Price
Warrants outstanding and exercisable, January 1, 2022		1,950,412		$	0.80
Granted		7,000,000		$	1.09
Warrants outstanding and exercisable, December 31, 2022		8,950,412		$	1.03
Expired		(8,950,412	)	$	1.03
Warrants outstanding and exercisable, September 30, 2023		-			-

As at September 30, 2023, the weighted average remaining contractual life of warrants outstanding was Nil years (December 31, 2022 – 0.73 years).

Valuation of the warrant liability requires the use of estimates and assumptions including the expected stock price volatility. The expected volatility used in valuing warrants is based on volatility observed in historical periods. Changes in the underlying assumptions can materially affect the fair value estimates. The fair value of the warrant liability was calculated using the Black-Scholes model with the following weighted average assumptions and resulting fair values:

	September 30, 2023			December 31, 2022
Weighted average assumptions:
Risk-free interest rate	-		%		4.07	%
Expected dividend yield	-		%		0	%
Expected warrant life (years)		-			0.73
Expected stock price volatility	-		%		56.80	%
Weighted average fair value	$	-		$	0.05

14. RECLAMATION PROVISION

Management’s estimate of the reclamation provision at September 30, 2023, is $544 (December 31, 2022 – $445), and the undiscounted value of the obligation is $1,663 (December 31, 2022 – $1,454).

The present value of the obligation was calculated using a risk-free interest rate of 9.61% (December 31, 2022 – 9.65%) and an inflation rate of 4.00% (December 31, 2022 – 7.82%). Reclamation activities are estimated to begin in 2025 for the San Gonzalo Mine and in 2041 for the Avino Mine.

-18-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

A reconciliation of the changes in the Company’s reclamation provision is as follows:

	September 30, 2023		December 31, 2022

Balance at beginning of the period	$	445	$	726
Changes in estimates		-		(364	)
Unwinding of discount related to continuing operations		36		44
Effect of movements in exchange rates		63		39
Balance at end of the period	$	544	$	445

15. SHARE CAPITAL AND SHARE-BASED PAYMENTS

(a) Authorized: Unlimited common shares without par value

(b) Issued:

	(i)	During the nine months ended September 30, 2023, the Company issued 5,360,300 common shares in an at-the-market offering under prospectus supplement for gross proceeds of $3,597. The Company paid a 2.75% cash commission of $99 on gross proceeds, for net proceeds of $3,498. The Company also incurred $255 in share issuance costs related to its base shelf prospectus and prospectus supplement filings.

		Dring the nine months ended September 30, 2023, the Company issued 1,005,333 common shares upon exercise of RSUs. As a result, $1,019 was recorded to share capital.

	(ii)	During the year ended December 31, 2022, the Company issued 14,000,000 common shares as part of the acquisition of La Preciosa from Coeur Mining Inc.. As a result, $13,650 was recorded to share capital, and exploration and evaluation assets as acquisition costs, representing the closing price on the Toronto Stock Exchange on March 21, 2022, the date of the issuance and closing.

The Company further issued 1,075,000 common shares as payment for services provided during the acquisition, and as a result $980 was recorded to share capital and exploration and evaluation assets as acquisition costs.

During the year ended December 31, 2022, the Company issued 48,000 common shares following the exercise of 48,000 options. As a result, $46 was recorded to share capital, representing cash proceeds of $31 and the fair value upon issuance of $15.

During the year ended December 31, 2022, the Company issued 982,879 common shares upon exercise of RSUs. As a result, $899 was recorded to share capital.

-19-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

(c) Stock options:

The Company has a stock option plan to purchase the Company’s common shares, under which it may grant stock options of up to 10% of the Company’s total number of shares issued and outstanding on a non-diluted basis. The stock option plan provides for the granting of stock options to directors, officers, and employees, and to persons providing investor relations or consulting services, the limits being based on the Company’s total number of issued and outstanding shares per year. The stock options vest on the date of grant, except for those issued to persons providing investor relations services, which vest over a period of one year. The option price must be greater than or equal to the discounted market price on the grant date, and the option term cannot exceed ten years from the grant date.

Continuity of stock options is as follows:

	Underlying Shares			Weighted Average Exercise Price (C$)

Stock options outstanding, January 1, 2022		2,839,000		$	1.68
Granted		2,390,000		$	1.20
Exercised		(48,000	)	$	0.79
Expired		(880,000	)	$	1.98
Cancelled / Forfeited		(45,000	)	$	1.40
Stock options outstanding, December 31, 2022		4,256,000		$	1.36
Granted		2,545,000		$	1.12
Expired		(105,000	)	$	1.30
Cancelled / Forfeited		(30,000	)	$	1.40
Stock options outstanding, September 30, 2023		6,666,000		$	1.27
Stock options exercisable, September 30, 2023		5,328,500		$	1.31

The following table summarizes information about the stock options outstanding and exercisable at September 30, 2023:

			Outstanding				Exercisable
Expiry Date	Price (C$)		Number of Options		Weighted Average Remaining Contractual Life (Years)		Number of Options		Weighted Average Remaining Contractual Life (Years)
August 21, 2024	$	0.79		126,000		0.89		126,000		0.89
August 4, 2025	$	1.64		1,660,000		1.85		1,660,000		1.85
March 25, 2027	$	1.20		2,330,000		3.48		2,330,000		3.48
May 4, 2027	$	0.92		25,000		3.59		25,000		3.59
March 29, 2028	$	1.12		2,375,000		4.50		1,187,500		4.50
July 10, 2028	$	1.12		150,000		4.78		-		4.78

				6,666,000		3.31		5,328,500		3.14

Valuation of stock options requires the use of estimates and assumptions including the expected stock price volatility. The expected volatility used in valuing stock options is based on volatility observed in historical periods. Changes in the underlying assumptions can materially affect the fair value estimates. The fair value of the stock options was calculated using the Black-Scholes model with the following weighted average assumptions and resulting fair values:

-20-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

	September 30, 2023			December 31, 2022
Weighted average assumptions:
Risk-free interest rate		3.10	%		2.49	%
Expected dividend yield		0.00	%		0.0	%
Expected warrant life (years)		5.00			5.00
Expected stock price volatility		61.10	%		59.98	%
Expected forfeiture rate		17	%		20	%
Weighted average fair value	$	0.60		$	0.63

During the nine months ended September 30, 2023, the Company charged $783 (nine months ended September 30, 2022 - $504) to operations as share-based payments for the fair value of stock options granted.

(d) Restricted Share Units:

On April 19, 2018, the Company’s Restricted Share Unit (“RSU”) Plan was approved by its shareholders. The RSU Plan is administered by the Compensation Committee under the supervision of the Board of Directors as compensation to officers, directors, consultants, and employees. The Compensation Committee determines the terms and conditions upon which a grant is made, including any performance criteria or vesting period.

Upon vesting, each RSU entitles the participant to receive one common share, provided that the participant is continuously employed with or providing services to the Company. RSUs track the value of the underlying common shares, but do not entitle the recipient to the underlying common shares until such RSUs vest, nor do they entitle a holder to exercise voting rights or any other rights attached to ownership or control of the common shares, until the RSU vests and the RSU participant receives common shares.

Continuity of RSUs is as follows:

	Underlying Shares			Weighted Average Price (C$)

RSUs outstanding, January 1, 2022		1,439,477		$	1.32
Granted		1,799,000		$	1.19
Exercised		(982,879	)	$	1.18
Cancelled / Forfeited		(64,932	)	$	1.40
RSUs outstanding, December 31, 2022		2,190,666		$	1.27
Granted		1,878,320		$	1.11
Exercised		(1,005,333	)	$	1.37
Cancelled / Forfeited		(15,333	)	$	1.14
RSUs outstanding, September 30, 2023		3,048,320		$	1.03

The following table summarizes information about the RSUs outstanding at September 30, 2023:

Issuance Date	Price (C$)		Number of RSUs Outstanding
March 25, 2022	$	1.19		1,182,000
March 29, 2023	$	1.12		1,797,000
July 10, 2023	$	0.94		69,320
				3,048,320

During the nine months ended September 30, 2023, 1,878,320 RSUs (year ended December 31, 2022 – 1,799,000) were granted. The weighted average fair value at the measurement date was C$1.11, based on the TSX market price of the Company’s shares on the date the RSUs were granted.

-21-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

During the nine months ended September 30, 2023, the Company charged $1,026 (September 30, 2022 - $870) to operations as share-based payments for the fair value of the RSUs vested. The fair value of the RSUs is recognized over the vesting period with reference to vesting conditions and the estimated RSUs expected to vest.

(e) Earnings (loss) per share:

The calculations for basic earnings (loss) per share and diluted earnings (loss) per share are as follows:

	Three months ended September 30,						Nine months ended September 30,
	2023			2022			2023			2022
Net income (loss) for the period	$	(803	)	$	(1,129	)	$	(21	)	$	1,800
Basic weighted average number of shares outstanding		122,433,272			117,876,825			120,093,760			113,027,305
Effect of dilutive share options, warrants, and RSUs (‘000)		-			-			-			3,248,128
Diluted weighted average number of shares outstanding		122,433,272			117,876,825			120,093,760			116,275,433
Basic income (loss) per share	$	(0.01	)	$	(0.01	)	$	(0.00	)	$	0.02
Diluted income (loss) per share	$	(0.01	)	$	(0.01	)	$	(0.00	)	$	0.02

16. REVENUE AND COST OF SALES

The Company’s revenues for the three and nine months ended September 30, 2023 and 2022, are all attributable to Mexico, from shipments of concentrate from the Avino Mine.

	Three months ended September 30,					Nine months ended September 30,
	2023		2022			2023			2022
Concentrate sales	$	11,599	$	9,445		$	31,429		$	30,423
Provisional pricing adjustments		717		(327	)		(70	)		(885	)
	$	12,316	$	9,118		$	31,359		$	29,538

Cost of sales consists of changes in inventories, direct costs including personnel costs, mine site costs, energy costs (principally diesel fuel and electricity), maintenance and repair costs, operating supplies, external services, third party transport fees, depreciation and depletion, and other expenses for the periods. Direct costs include the costs of extracting co-products.

-22-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

Cost of sales is based on the weighted average cost of inventory sold for the periods and consists of the following:

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Production costs	$	9,228	$	6,544	$	23,939	$	17,378
Write down of equipment and materials and supplies inventory		4		-		95		-
Depreciation and depletion		720		514		2,067		1,454
	$	9,952	$	7,058	$	26,101	$	18,832

17. GENERAL AND ADMINISTRATIVE EXPENSES

General and administrative expenses on the condensed consolidated interim statements of operations consist of the following:

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Salaries and benefits	$	383	$	326	$	1,069	$	1,123
Office and miscellaneous		391		261		1,008		855
Management and consulting fees		109		110		312		345
Investor relations		49		84		216		234
Travel and promotion		37		29		130		75
Professional fees		195		89		898		501
Directors fees		43		30		132		116
Regulatory and compliance fees		35		36		126		116
Depreciation		38		37		108		104
	$	1,280	$	997	$	3,999	$	3,469

18. COMMITMENTS

The Company has a cost sharing agreement to reimburse Oniva for a percentage of its overhead expenses, to reimburse 100% of its out-of-pocket expenses incurred on behalf of the Company, and to pay a percentage fee based on Oniva’s total overhead and corporate expenses. The agreement may be terminated with one-month notice by either party. Transactions and balances with Oniva are disclosed in Note 11.

The Company and its subsidiaries have various operating lease agreements for their office premises, use of land, and equipment. Commitments in respect of these lease agreements are as follows:

	September 30, 2023		December 31, 2022
Not later than one year	$	117	$	105
Later than one year and not later than five years		382		347
Later than five years		362		398
	$	861	$	850

Office lease payments recognized as an expense during the nine months ended September 30, 2023, totalled $27 (September 30, 2022 - $8).

-23-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

19. SUPPLEMENTARY CASH FLOW INFORMATION

	September 30, 2023			September 30, 2022
Net change in non-cash working capital items:
Inventory	$	(2,720	)	$	(1,986	)
Prepaid expenses and other assets		(329	)		(535	)
Taxes recoverable		(2,075	)		28
Taxes payable		(809	)		687
Amounts due to related parties		(59	)		(79	)
Accounts payable and accrued liabilities		2,592			2,101
Amounts receivable		199			552
	$	(3,201	)	$	768

	September 30, 2023		September 30, 2022
Other supplementary information:
Interest paid	$	180	$	73
Taxes paid		29		-
	$	209	$	73

	September 30, 2023		September 30, 2022
Non-cash investing and financing activities:
Acquisition of La Preciosa, net of cash & transaction costs	$	-	$	21,535
Shares acquired under terms of option agreements		41		15
Transfer of share-based payments reserve upon exercise of RSUs		1,019		-
Transfer of share-based payments reserve upon option exercise		-		15
Equipment acquired under finance leases and equipment loans		2,888		1,589
	$	3,948	$	23,174

20. FINANCIAL INSTRUMENTS

The fair values of the Company’s amounts due to related parties and accounts payable approximate their carrying values because of the short-term nature of these instruments. Cash, amounts receivable, long-term investments, and warrant liability are recorded at fair value. The carrying amounts of the Company’s term facility, equipment loans, and finance lease obligations are a reasonable approximation of their fair values based on current market rates for similar financial instruments.

The Company’s financial instruments are exposed to certain financial risks, including credit risk, liquidity risk, and market risk.

-24-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

(a) Credit Risk

Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Company has exposure to credit risk through its cash, long-term investments and amounts receivable. The Company manages credit risk, in respect of cash and short-term investments, by maintaining the majority of cash and short-term investments at highly rated financial institutions.

The Company is exposed to a significant concentration of credit risk with respect to its trade accounts receivable balance because all of its concentrate sales are with three (December 31, 2022 – two) counterparties (see Note 21). However, the Company has not recorded any allowance against its trade receivables because to-date all balances owed have been settled in full when due (typically within 60 days of submission) and because of the nature of the counterparties.

The Company’s maximum exposure to credit risk at the end of any period is equal to the carrying amount of these financial assets as recorded in the unaudited condensed consolidated interim statement of financial position. At September 30, 2023, no amounts were held as collateral.

(b) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in satisfying financial obligations as they become due. The Company manages its liquidity risk by forecasting cash flows required by its operating, investing and financing activities. The Company had cash at September 30, 2023, in the amount of $1,856 and working capital of $7,445 in order to meet short-term business requirements. Accounts payable have contractual maturities of approximately 30 to 90 days, or are due on demand and are subject to normal trade terms. The current portions of note payable and finance lease obligations are due within 12 months of the condensed consolidated interim statement of financial position date. Amounts due to related parties are without stated terms of interest or repayment.

The maturity profiles of the Company’s contractual obligations and commitments as at September 30, 2023, are summarized as follows:

	Total		Less Than 1 Year		1-5 years		More Than 5 Years
Accounts payable and accrued liabilities	$	11,675	$	11,675	$	-	$	-
Minimum rental and lease payments		850		105		347		398
Equipment loans		439		191		248		-
Finance lease obligations		3,796		1,918		1,878		-
Total	$	16,760	$	13,889	$	2,473	$	398

(c) Market Risk

Market risk consists of interest rate risk, foreign currency risk and price risk. These are discussed further below.

Interest Rate Risk

Interest rate risk consists of two components:

(i)

To the extent that payments made or received on the Company’s monetary assets and liabilities are affected by changes in the prevailing market interest rates, the Company is exposed to interest rate cash flow risk.

-25-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

(ii)

To the extent that changes in prevailing market rates differ from the interest rates on the Company’s monetary assets and liabilities, the Company is exposed to interest rate price risk.

In management’s opinion, the Company is not materially exposed to interest rate risk, as any material debt obligations that bear interest are fixed and not subject to floating interest rates. A 10% change in the interest rate would not result in a material impact on the Company’s operations.

Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in foreign exchange rates. The Company is exposed to foreign currency risk to the extent that the following monetary assets and liabilities are denominated in Mexican pesos and Canadian dollars:

	September 30, 2023						December 31, 2022
	MXN			CDN			MXN			CDN
Cash	$	2,451		$	113		$	4,097		$	250
Due from related parties		2,310			-			1,402			-
Long-term investments		-			1,204			-			2,365
Reclamation bonds		-			6			-			4
Amounts receivable		6,478			56			-			34
Accounts payable and accrued liabilities		(93,198	)		(346	)		(85,486	)		(108	)
Due to related parties		-			(135	)		-			(135	)
Finance lease obligations		(598	)		(256	)		(161	)		(343	)
Net exposure		(82,557	)		642			(80,148	)		2,067
US dollar equivalent	$	468		$	(43	)	$	(4,136	)	$	1,526

Based on the net US dollar denominated asset and liability exposures as at September 30, 2023, a 10% fluctuation in the US/Mexican and Canadian/US exchange rates would impact the Company’s earnings for the nine months ended September 30, 2023, by approximately $425 (year ended December 31, 2022 - $275). The Company has not entered into any foreign currency contracts to mitigate this risk.

Price Risk

Price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market prices, other than those arising from interest rate risk or foreign currency risk.

The Company is exposed to price risk with respect to its amounts receivable, as certain trade accounts receivable are recorded based on provisional terms that are subsequently adjusted according to quoted metal prices at the date of final settlement. Quoted metal prices are affected by numerous factors beyond the Company’s control and are subject to volatility, and the Company does not employ hedging strategies to limit its exposure to price risk. At September 30, 2023, based on outstanding accounts receivable that were subject to pricing adjustments, a 10% change in metals prices would have an impact on net earnings (loss) of approximately $58 (December 31, 2022 - $65).

The Company is exposed to price risk with respect to its long-term investments, as these investments are carried at fair value based on quoted market prices. Changes in market prices result in gains or losses being recognized in net income (loss). At September 30, 2023, a 10% change in market prices would have an impact on net earnings (loss) of approximately $87 (December 31, 2022 - $175).

The Company’s profitability and ability to raise capital to fund exploration, evaluation and production activities is subject to risks associated with fluctuations in mineral prices. Management closely monitors commodity prices, individual equity movements, and the stock market to determine the appropriate course of action to be taken by the Company.

-26-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

(d) Classification of Financial Instruments

IFRS 13 Financial Instruments: Disclosures establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value as follows:

Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2 – inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and

Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs).

The following table sets forth the Company’s financial assets and financial liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as at September 30, 2023:

	Level 1		Level 2		Level 3
Financial assets
Cash	$	1,856	$	-	$	-
Amounts receivable		-		2,473		-
Long-term investments		891		-		-
Total financial assets	$	2,747	$	2,473	$	-

The Company uses Black-Scholes model to measure its Level 3 financial instruments. As at September 30, 2023, the Company’s has no Level 3 financial instruments.

21. SEGMENTED INFORMATION

The Company’s revenues for the three and nine months ended September 30, 2023 are all attributable to Mexico, from shipments of concentrate produced by the Avino Mine, and is considered to be one single reportable operating segment.

On the condensed consolidated interim statements of operations, the Company had revenue from the following product mixes:

	Three months ended September 30,						Nine months ended September 30,
	2023			2022			2023			2022
Silver	$	4,280		$	3,454		$	11,610		$	10,722
Copper		5,907			5,625			14,658			17,884
Gold		3,669			2,310			9,516			7,141
Penalties, treatment costs and refining charges		(1,540	)		(2,271	)		(4,425	)		(6,209	)
Total revenue from mining operations	$	12,316		$	9,118		$	31,359		$	29,538

-27-

AVINO SILVER & GOLD MINES LTD.

Notes to the unaudited condensed consolidated interim financial statements

For the nine months ended September 30, 2023 and 2022

(Expressed in thousands of US dollars, except where otherwise noted)

For the three and nine months ended September 30, 2023, the Company had three customers (September 30, 2022 – three customers) that accounted for total revenues as follows:

	Three months ended September 30,						Nine months ended September 30,
	2023			2022			2023			2022
Customer #1	$	9,101		$	7,710		$	26,209		$	25,569
Customer #2		3,220			1,415			5,246			3,161
Other customers		(5	)		(7	)		(96	)		808
Total revenue from mining operations	$	12,316		$	9,118		$	31,359		$	29,538

Geographical information relating to the Company’s non-current assets (other than financial instruments) is as follows:

	September 30, 2023		December 31, 2022
Exploration and evaluation assets - Mexico	$	50,450	$	49,803
Exploration and evaluation assets - Canada		1		1
Total exploration and evaluation assets	$	50,451	$	49,804

	September 30, 2023		December 31, 2022
Plant, equipment, and mining properties - Mexico	$	50,843	$	43,812
Plant, equipment, and mining properties - Canada		196		244
Total plant, equipment, and mining properties	$	51,039	$	44,056

22. SUBSEQUENT EVENTS

At-The-Market Sales – Subsequent to September 30, 2023, the Company issued 1,091,425 common shares in at-the-market offerings under prospectus supplement for gross proceeds of $556.

-28-

null

Cover	9 Months Ended
Cover	Sep. 30, 2023
Cover [Abstract]
Entity Registrant Name	AVINO SILVER & GOLD MINES LTD.
Entity Central Index Key	0000316888
Document Type	6-K
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Entity File Number	001-35254
Entity Address Address Line 1	Suite 900
Entity Address Address Line 2	570 Granville Street
Entity Address City Or Town	Vancouver
Entity Address State Or Province	BC
Entity Address Postal Zip Code	V6C 3P1

Condensed Consolidated Interim Statements of Financial Position - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash	$ 1,856,000	$ 11,245,000
Amounts receivable	2,473,000	2,672,000
Amounts due from related parties	31,000	0
Taxes recoverable	5,812,000	3,737,000
Prepaid expenses and other assets	2,063,000	1,671,000
Inventory	8,873,000	6,260,000
Total current assets	21,108,000	25,585,000
Exploration and evaluation assets	50,451,000	49,804,000
Plant, equipment and mining properties	51,039,000	44,056,000
Long-term investments	891,000	1,746,000
Other assets	4,000	5,000
Total assets	123,493,000	121,196,000
Current liabilities
Accounts payable and accrued liabilities	11,675,000	9,469,000
Amounts due to related parties	0	28,000
Taxes payable	85,000	895,000
Note payable	0	4,926,000
Warrant liability	0	475,000
Current portion of finance lease obligations	1,738,000	971,000
Current portion of equipment loans	165,000	0
Total current liabilities	13,663,000	16,764,000
Finance lease obligations	1,406,000	745,000
Equipment loans	234,000	0
Reclamation provision	544,000	445,000
Deferred income tax liabilities	4,941,000	5,221,000
Total liabilities	20,788,000	23,175,000
EQUITY
Share capital	149,776,000	145,515,000
Equity reserves	10,581,000	9,852,000
Treasury shares	97,000	97,000
Accumulated other comprehensive loss	(5,569,000)	(5,223,000)
Accumulated deficit	(51,986,000)	(52,026,000)
Total equity	102,705,000	98,021,000
Total liabilities and equity	$ 123,493,000	$ 121,196,000

Condensed Consolidated Interim Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Condensed Consolidated Interim Statements of Operations and Comprehensive Income (Loss) (Unaudited)
Revenue from mining operations	$ 12,316	$ 9,118	$ 31,359	$ 29,538
Cost of sales	9,952	7,058	26,101	18,832
Mine operating income	2,364	2,060	5,258	10,706
Operating expenses
General and administrative expenses	1,280	997	3,999	3,469
Share-based payments	627	556	1,809	1,618
Income (loss) before other items	457	507	(550)	5,619
Other items
Interest and other income	5	15	234	67
Loss on long-term investments	(295)	(1,221)	(899)	(2,503)
Fair value adjustment on warrant liability	20	86	478	2,692
Unrealized foreign exchange gain (loss)	(234)	251	182	(231)
Project evaluation expenses	0	(5)	0	(80)
Finance cost	(3)	(87)	(80)	(188)
Accretion of reclamation provision	(13)	(11)	(36)	(32)
Interest expense	(158)	(23)	(275)	(66)
Income (loss) before income taxes	(221)	(488)	(946)	5,278
Income taxes:
Current income tax recovery (expense)	111	(142)	645	(642)
Deferred income tax recovery (expense)	(693)	(499)	280	(2,836)
Income tax recovery (expense)	(582)	(641)	925	(3,478)
Net income (loss)	(803)	(1,129)	(21)	1,800
Other comprehensive income (loss)
Currency translation differences	230	(290)	(346)	(52)
Total comprehensive income (loss)	$ (573)	$ (1,419)	$ (367)	$ 1,748
Income (loss) per share Basic	$ (0.01)	$ (0.01)	$ 0.00	$ 0.02
Income (loss) per share Diluted	$ (0.01)	$ (0.01)	$ 0.00	$ 0.02
Weighted average number of common shares outstanding
Basic	122,433,272	117,876,825	120,093,760	113,027,305
Diluted	122,433,272	117,876,825	120,093,760	116,275,433

Condensed Consolidated Interim Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Total	Number of common shares	Equity Reserves [Member]	Treasury Shares [Member]	Accumulated other comprehensive loss	Retained Earnings (Accumulated Deficit)
Balance, shares at Dec. 31, 2021		102,243,211
Balance, amount at Dec. 31, 2021	$ 78,507	$ 129,953	$ 9,573	$ (97)	$ (4,969)	$ (55,953)
Statement [Line Items]
Common shares issued for acquisition of La Preciosa, shares		15,075,000
Common shares issued for acquisition of La Preciosa, amount	14,630	$ 14,630	0	0	0	0
Exercise of options, shares		48,000
Exercise of options, amount	31	$ 46	(15)	0	0	0
Issuance costs	(13)	(13)	0	0	0	0
Share-based payments	1,618	0	1,618	0	0	0
Net Income (Loss)	1,800	0	0	0	0	1,800
Options cancelled or expired	0	$ 0	(831)	0	0	831
Carrying value of exercise of RSUs, shares		982,879
Carrying value of exercise of RSUs, amount	0	$ 899	(899)	0	0	0
Currency translation differences	(52)	$ 0	0	0	(52)	0
Balance, shares at Sep. 30, 2022		118,349,090
Balance, amount at Sep. 30, 2022	96,521	$ 145,515	9,446	(97)	(5,021)	(53,322)
Balance, shares at Dec. 31, 2022		118,349,090
Balance, amount at Dec. 31, 2022	98,021	$ 145,515	9,852	(97)	(5,223)	(52,026)
Statement [Line Items]
Issuance costs	(355)	(355)	0	0	0	0
Share-based payments	1,809	0	1,809	0	0	0
Net Income (Loss)	(21)	0	0	0	0	(21)
Options cancelled or expired	0	$ 0	(61)	0	0	61
Carrying value of exercise of RSUs, shares		1,005,333
Carrying value of exercise of RSUs, amount	0	$ 1,019	(1,019)	0	0	0
Currency translation differences	(346)	$ 0	0	0	(346)	0
Common shares at the market issuances, shares		5,360,300
Common shares at the market issuances, amount	3,597	$ 3,597	0	0	0	0
Balance, shares at Sep. 30, 2023		124,714,723
Balance, amount at Sep. 30, 2023	$ 102,705	$ 149,776	$ 10,581	$ (97)	$ (5,569)	$ (51,986)

Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating Activities
Net income	$ (21)	$ 1,800
Adjustments for non-cash items:
Deferred income tax expense (recovery)	(280)	2,836
Depreciation and depletion	2,175	1,558
Accretion of reclamation provision	36	32
Loss on investments	899	2,503
Unrealized foreign exchange (gain) loss	(241)	(88)
Unwinding of fair value adjustment	74	177
Fair value adjustment on warrant liability	(478)	(2,692)
Write down of equipment and materials and supplies inventory	95	0
Share-based payments	1,809	1,618
Total Adjustments for non-cash	4,068	7,744
Net change in non-cash working capital items	(3,201)	768
Cash provided by operating activities	867	8,512
Financing Activities
Shares and units issued for cash, net of issuance costs	3,242	30
Lease liability payments	(933)	(933)
Equipment loan payments	(184)	0
Cash provided by (used in) financing activities	2,125	(903)
Investing Activities
Exploration and evaluation expenditures	(809)	(793)
Additions to plant, equipment and mining properties	(6,575)	(5,347)
Acquisition of La Preciosa	5,000	15,289
Cash provided by (used in) investing activities	(12,384)	(21,429)
Change in cash	(9,392)	(13,820)
Effect of exchange rate changes on cash	3	(25)
Cash, beginning	11,245	24,765
Cash, ending	$ 1,856	$ 10,920

NATURE OF OPERATIONS

9 Months Ended

Sep. 30, 2023

Nature Of operations

1. NATURE OF OPERATIONS

BASIS OF PRESENTATION

9 Months Ended

Sep. 30, 2023

Basis Of presentation

2. BASIS OF PRESENTATION

Statement of Compliance

Critical Accounting Judgments and Estimates

Basis of Consolidation

The unaudited condensed consolidated interim financial statements include the accounts of the Company and its Mexican subsidiaries as follows:

Subsidiary	Ownership Interest		Jurisdiction	Nature of Operations
Oniva Silver and Gold Mines S.A. de C.V.		100%	Mexico	Mexican operations and administration
Nueva Vizcaya Mining, S.A. de C.V.		100%	Mexico	Mexican administration
Promotora Avino, S.A. de C.V. (“Promotora”)		79.09%	Mexico	Holding company
Compañía Minera Mexicana de Avino, S.A. de C.V. (“Avino Mexico”)		98.45% direct 1.22% indirect (Promotora) 99.67% effective	Mexico	Mining and exploration
La Luna Silver & Gold Mines Ltd.		100%	Canada	Holding company
La Preciosa Silver & Gold Mines Ltd.		100%	Canada	Holding company
Proyectos Mineros La Preciosa S.A. de C.V.		100%	Mexico	Mining and exploration
Cervantes LLP		100%	U.S.	Holding company

RECENT ACCOUNTING PRONOUNCEMENTS

9 Months Ended

Sep. 30, 2023

Recent accounting pronouncements

3. RECENT ACCOUNTING PRONOUNCEMENTS

New and amended IFRS that are effective for the current year:

Amendments to IAS 1 – Presentation of Financial Statements and IFRS Practice Statement 2 Making Material Judgments – Disclosure of Accounting Policies

The amendments were applied effective January 1, 2023, and did not have a material impact on the Company’s interim consolidated financial statements.

Amendments to IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors – Definition of Accounting Estimates

The definition of a change in accounting estimates was deleted; however, the IASB retained the concept of changes in accounting estimates in the Standard with the following clarifications:

	·	A change in accounting estimate that results from new information or new developments is not a correct of an error

	·	The effects of a change in an input or a measurement technique used to develop an accounting estimate are changes in accounting estimates if they do not result from the correction of prior period errors

The amendments were applied effective January 1, 2023, and did not have a material impact on the Company’s interim consolidated financial statements.

Amendments to IAS 12 – Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction

Future Changes in Accounting Policies Not Yet Effective as at September 30, 2023:

Amendments to IAS 1 – Classification of Liabilities as Current or Non-Current with Covenants

Amendments to IFRS 16 – Lease Liability in a Sale and Leaseback

ACQUISITION OF LA PRECIOSA

9 Months Ended

Sep. 30, 2023

Acquisition Of la preciosa

4. ACQUISITION OF LA PRECIOSA

Total consideration paid to Coeur was comprised of:

	a)	Cash consideration of $15.3 million paid;

	b)	A promissory note for $5 million in favour of Coeur, payable without interest on or before March 21, 2023 (paid prior to March 21, 2023);

	c)	14,000,000 common shares of Avino, with a value of $13.65 million on issuance;

	d)	7,000,000 share purchase warrants with a total value at $2.24 million exercisable at $1.09 per share until September 21, 2023, representing a 25% premium to Avino’s 20-day volume weighted average trading price as of October 26, 2021;

	e)	An additional cash payment of $8.75 million, to be paid no later than 12 months after initial production at La Preciosa, up to one-half of which may be paid in common shares of Avino (provided Coeur’s total shareholdings cannot exceed 19.9% of the Company’s total issued and outstanding shares);

	f)	A 1.25% net smelter returns royalty on the Gloria and Abundancia areas of La Preciosa, and a 2.00% gross value royalty on all other areas of La Preciosa; and

	g)	A payment of $0.25 per silver equivalent ounce (subject to inflationary adjustment) of new mineral reserves (as defined by NI 43-101) discovered and declared outside of the current mineral resource area at La Preciosa, subject to a cap of $50 million, and any such payments will be credited against any existing or future payments owing on the gross value royalty.

The purchase consideration has been assigned based on the relative fair values of the assets acquired and liabilities assumed and is summarized as follows:

Cash paid	$	15,301
Note payable		4,665
Common shares		14,630
Share purchase warrants		2,240
Total purchase consideration		36,836
Transaction costs		270
Total acquisition cost	$	37,106

Cash	$	168
Other current assets		1,121
Plant and equipment		1,621
Exploration and evaluation assets		34,524
Accounts payable		(328	)
Net assets acquired	$	37,106

TAXES RECOVERABLE

9 Months Ended

Sep. 30, 2023

TAXES RECOVERABLE

Taxes recoverable

5. TAXES RECOVERABLE

The Company’s taxes recoverable consist of the Mexican I.V.A. (“VAT”) and income taxes recoverable and Canadian sales taxes (“GST/HST”) recoverable.

	September 30, 2023		December 31, 2022
VAT recoverable	$	2,483	$	1,385
GST recoverable		41		25
Income taxes recoverable		3,288		2,327
	$	5,812	$	3,737

INVENTORY

9 Months Ended

Sep. 30, 2023

INVENTORY

Inventory

6. INVENTORY

	September 30, 2023		December 31, 2022
Process material stockpiles	$	3,262	$	2,788
Concentrate inventory		3,154		1,617
Materials and supplies		2,457		1,855
	$	8,873	$	6,260

LONG-TERM INVESTMENTS

9 Months Ended

Sep. 30, 2023

Long term investments

7. LONG-TERM INVESTMENTS

The Company classifies its long-term investments as designated at fair value through profit and loss under IFRS 9. Long-term investments are summarized as follows:

	Fair Value December 31,				Movements in foreign		Fair value adjustments			Fair Value September 30,
	2022		Net Additions		exchange		for the period			2023
Talisker Resources Common Shares	$	1,640	$	-	$	8	$	(838	)	$	810
Silver Wolf Exploration Ltd. Common Shares		51		36		-		(34	)		53
Endurance Gold Corp. Common Shares		55		-		-		(27	)		28
	$	1,746	$	36	$	8	$	(899	)	$	891

Silver Wolf Exploration Ltd.

See Note 8 for full details of the Option Agreement.

EXPLORATION AND EVALUATION ASSETS

9 Months Ended

Sep. 30, 2023

Exploration and evaluation assets

8. EXPLORATION AND EVALUATION ASSETS

The Company has accumulated the following acquisition, exploration and evaluation costs which are not subject to depletion:

	Avino, Mexico			La Preciosa, Mexico			British Columbia & Yukon, Canada		Total


Balance, January 1, 2022	$	11,052		$	-		$	1	$	11,053

Costs incurred during 2022:
Acquisition costs – Note 4		-			37,618					37,618
Drilling and exploration		719			296			-		1,015
Assessments and taxes		94			61			-		155
Effect of movements in exchange rates		(30	)		-			-		(30	)
Option income		(7	)		-			-		(7	)

Balance, December 31, 2022	$	11,828		$	37,975		$	1	$	49,804
Costs incurred during 2023:
Drilling and exploration		583			384			-		967
Assessments and taxes		88			(243	)		-		(155	)
Effect of movements in exchange rates		22			(124	)		-		(102	)
Option income		(63	)		-			-		(63	)

Balance, September 30, 2023	$	12,458		$	37,992		$	1	$	50,451

(a) Avino, Mexico

Option Agreement – Silver Wolf Exploration Ltd. (formerly Gray Rock Resources Ltd.) (“Silver Wolf”)

1. Issue to Avino a total of C$600 in cash or common shares of Silver Wolf as follows:

	a.	C$50 in common shares of Silver Wolf within 30 days of March 8, 2021 (received on March 26, 2021 – see Note 7 for details);

	b.	A further C$50 in cash or shares of Silver Wolf at Avino’s discretion on or before March 8, 2022 (received on March 30, 2022 – See Note 7 for details);

	c.	A further C$100 in cash or shares of Silver Wolf at Avino’s discretion on or before March 8, 2023 (received on March 13, 2023 – See Note 7 for details);

	d.	A further C$200 in cash or shares of Silver Wolf at Avino’s discretion on or before March 8, 2024; and

	e.	A further C$200 in cash or shares of Silver Wolf at Avino’s discretion on or before March 8, 2025; and

2. Incur a total of C$750 in exploration expenditures on the properties, as follows:

	a.	C$50 on or before March 8, 2022;

	b.	A further C$100 on or before March 8, 2023; and

	c.	A further C$600 on or before March 8, 2025.

All exploration expenditure requirements on the properties have been met as of September 30, 2023

The Option Agreement between the Company and Silver Wolf is considered a related party transaction as the two companies have directors in common.

Unification La Platosa properties

(b) La Preciosa, Mexico

On March 21, 2022, the Company received approval for the closing of the acquisition of the La Preciosa property from Coeur Mining Inc. (“Coeur”). See Note 4 for further details

(c) British Columbia & Yukon, Canada

Eagle Property - Yukon

The Company has a 100% interest in 14 quartz leases located in the Mayo Mining Division of Yukon, Canada, which collectively comprise the Eagle property.

Minto and Olympic-Kelvin properties – British Columbia

NON-CONTROLLING INTEREST

9 Months Ended

Sep. 30, 2023

Non-controlling interest

9. NON-CONTROLLING INTEREST

PLANT EQUIPMENT AND MINING PROPERTIES

9 Months Ended

Sep. 30, 2023

PLANT EQUIPMENT AND MINING PROPERTIES

Plant, equipment and mining properties

10. PLANT, EQUIPMENT AND MINING PROPERTIES

	Mining properties			Office equipment, furniture, and fixtures			Computer equipment			Mine machinery and transportation equipment			Mill machinery and processing equipment			Buildings and construction in process		Total
	$			$			$			$			$			$		$
COST
Balance at January 1, 2022		13,038			595			335			14,240			18,613			11,778		58,599
Additions / Transfers		1,649			185			441			2,383			4,781			2,907		12,346
Writedowns		-			-			-			(1,692	)		(100	)		-		(1,792	)
Effect of movements in exchange rates		-			(17	)		(2	)		(1	)		-			8		(12	)
Balance at December 31, 2022		14,687			763			774			14,930			23,294			14,693		69,141
Additions / Transfers		1,725			74			698			3,182			2,809			678		9,166
Writedowns		-			(3	)		(22	)		(623	)		-			-		(648	)
Effect of movements in exchange rates		(17	)		-			-			-			-			-		(17	)
Balance at September 30, 2023		16,395			834			1,450			17,489			26,103			15,371		77,642

ACCUMULATED DEPLETION AND DEPRECIATION
Balance at January 1, 2022		8,856			294			267			4,944			6,667			1,896		22,924
Additions / Transfers		250			147			331			1,616			146			1,133		3,623
Writedowns		-			-			-			(1,382	)		(80	)		-		(1,462	)
Balance at December 31, 2022		9,106			441			598			5,178			6,733			3,029		25,085
Additions / Transfers		267			89			133			682			780			204		2,155
Writedowns		-			(2	)		(21	)		(612	)		(2	)		-		(637	)
Balance at September 30, 2023		9,373			528			710			5,248			7,511			3,233		26,603

NET BOOK VALUE
At September 30, 2023		7,022			306			740			12,241			18,592			12,138		51,039
At December 31, 2022		5,581			322			176			9,752			16,561			11,664		44,056
At January 1, 2022		4,182			301			68			9,296			11,946			9,882		35,675

As at September 30, 2023, plant, equipment and mining properties included a net carrying amount of $5,553 (December 31, 2022 - $2,417) for mining equipment and right of use assets under lease.

RELATED PARTY TRANSACTIONS AND BALANCES

9 Months Ended

Sep. 30, 2023

Related party transactions and balances

11. RELATED PARTY TRANSACTIONS AND BALANCES

All related party transactions are recorded at the exchange amount which is the amount agreed to by the Company and the related party.

(a) Key management personnel

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Salaries, benefits, and consulting fees	$	289	$	237	$	869	$	975
Share-based payments		502		427		1,472		1,251
	$	791	$	664	$	2,341	$	2,226

(b) Amounts due to/from related parties

The following table summarizes the amounts were due to/(from) related parties:

	September 30, 2023			December 31, 2022
Oniva International Services Corp.	$	100		$	100
Silver Wolf Exploration Ltd.		(131	)		(72	)
	$	(31	)	$	28

(c) Other related party transactions

The transactions with Oniva during the three and nine months ended September 30, 2023 and 2022, are summarized below:

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Salaries and benefits	$	240	$	218	$	729	$	670
Office and miscellaneous		107		119		364		325
	$	347	$	337	$	1,093	$	995

NOTES PAYBLE

9 Months Ended

Sep. 30, 2023

Notes payble

12. NOTE PAYABLE

Prior to March 21, 2023, the Company repaid the promissory note payable in full.

The continuity of the note payable is as follows:

	September 30,			December 31,
	2023			2022
Balance at beginning of the period	$	4,926		$	-
Additions		-			4,665
Repayments		(5,000	)		-
Unwinding of fair value adjustment		74			261
Balance at end of the period		-			4,926
Less: Current portion		-			(4,926	)
Non-current portion	$	-		$	-

WARRANT LIABILITY

9 Months Ended

Sep. 30, 2023

Warrant liability

13. WARRANT LIABILITY

	September 30, 2023			December 31, 2022
Balance at beginning of the period	$	475		$	741
Warrants issued		-			2,240
Fair value adjustment		(478	)		(2,935	)
Effect of movement in exchange rates		3			(111	)
Balance at end of the period	$	-		$	475

Continuity of warrants during the periods is as follows:

	Underlying Shares			Weighted Average Exercise Price
Warrants outstanding and exercisable, January 1, 2022		1,950,412		$	0.80
Granted		7,000,000		$	1.09
Warrants outstanding and exercisable, December 31, 2022		8,950,412		$	1.03
Expired		(8,950,412	)	$	1.03
Warrants outstanding and exercisable, September 30, 2023		-			-

As at September 30, 2023, the weighted average remaining contractual life of warrants outstanding was Nil years (December 31, 2022 – 0.73 years).

	September 30, 2023			December 31, 2022
Weighted average assumptions:
Risk-free interest rate	-		%		4.07	%
Expected dividend yield	-		%		0	%
Expected warrant life (years)		-			0.73
Expected stock price volatility	-		%		56.80	%
Weighted average fair value	$	-		$	0.05

RECLAMATION PROVISION

9 Months Ended

Sep. 30, 2023

RECLAMATION PROVISION

Reclamation provision

14. RECLAMATION PROVISION

A reconciliation of the changes in the Company’s reclamation provision is as follows:

	September 30, 2023		December 31, 2022

Balance at beginning of the period	$	445	$	726
Changes in estimates		-		(364	)
Unwinding of discount related to continuing operations		36		44
Effect of movements in exchange rates		63		39
Balance at end of the period	$	544	$	445

SHARE CAPITAL AND SHARE-BASED PAYMENTS

9 Months Ended

Sep. 30, 2023

SHARE CAPITAL AND SHARE-BASED PAYMENTS

Share capital and share-based Payments

15. SHARE CAPITAL AND SHARE-BASED PAYMENTS

(a) Authorized: Unlimited common shares without par value

(b) Issued:

	(i)	During the nine months ended September 30, 2023, the Company issued 5,360,300 common shares in an at-the-market offering under prospectus supplement for gross proceeds of $3,597. The Company paid a 2.75% cash commission of $99 on gross proceeds, for net proceeds of $3,498. The Company also incurred $255 in share issuance costs related to its base shelf prospectus and prospectus supplement filings.

		Dring the nine months ended September 30, 2023, the Company issued 1,005,333 common shares upon exercise of RSUs. As a result, $1,019 was recorded to share capital.

	(ii)	During the year ended December 31, 2022, the Company issued 14,000,000 common shares as part of the acquisition of La Preciosa from Coeur Mining Inc.. As a result, $13,650 was recorded to share capital, and exploration and evaluation assets as acquisition costs, representing the closing price on the Toronto Stock Exchange on March 21, 2022, the date of the issuance and closing.

During the year ended December 31, 2022, the Company issued 982,879 common shares upon exercise of RSUs. As a result, $899 was recorded to share capital.

(c) Stock options:

Continuity of stock options is as follows:

	Underlying Shares			Weighted Average Exercise Price (C$)

Stock options outstanding, January 1, 2022		2,839,000		$	1.68
Granted		2,390,000		$	1.20
Exercised		(48,000	)	$	0.79
Expired		(880,000	)	$	1.98
Cancelled / Forfeited		(45,000	)	$	1.40
Stock options outstanding, December 31, 2022		4,256,000		$	1.36
Granted		2,545,000		$	1.12
Expired		(105,000	)	$	1.30
Cancelled / Forfeited		(30,000	)	$	1.40
Stock options outstanding, September 30, 2023		6,666,000		$	1.27
Stock options exercisable, September 30, 2023		5,328,500		$	1.31

The following table summarizes information about the stock options outstanding and exercisable at September 30, 2023:

			Outstanding				Exercisable
Expiry Date	Price (C$)		Number of Options		Weighted Average Remaining Contractual Life (Years)		Number of Options		Weighted Average Remaining Contractual Life (Years)
August 21, 2024	$	0.79		126,000		0.89		126,000		0.89
August 4, 2025	$	1.64		1,660,000		1.85		1,660,000		1.85
March 25, 2027	$	1.20		2,330,000		3.48		2,330,000		3.48
May 4, 2027	$	0.92		25,000		3.59		25,000		3.59
March 29, 2028	$	1.12		2,375,000		4.50		1,187,500		4.50
July 10, 2028	$	1.12		150,000		4.78		-		4.78

				6,666,000		3.31		5,328,500		3.14

	September 30, 2023			December 31, 2022
Weighted average assumptions:
Risk-free interest rate		3.10	%		2.49	%
Expected dividend yield		0.00	%		0.0	%
Expected warrant life (years)		5.00			5.00
Expected stock price volatility		61.10	%		59.98	%
Expected forfeiture rate		17	%		20	%
Weighted average fair value	$	0.60		$	0.63

(d) Restricted Share Units:

Continuity of RSUs is as follows:

	Underlying Shares			Weighted Average Price (C$)

RSUs outstanding, January 1, 2022		1,439,477		$	1.32
Granted		1,799,000		$	1.19
Exercised		(982,879	)	$	1.18
Cancelled / Forfeited		(64,932	)	$	1.40
RSUs outstanding, December 31, 2022		2,190,666		$	1.27
Granted		1,878,320		$	1.11
Exercised		(1,005,333	)	$	1.37
Cancelled / Forfeited		(15,333	)	$	1.14
RSUs outstanding, September 30, 2023		3,048,320		$	1.03

The following table summarizes information about the RSUs outstanding at September 30, 2023:

Issuance Date	Price (C$)		Number of RSUs Outstanding
March 25, 2022	$	1.19		1,182,000
March 29, 2023	$	1.12		1,797,000
July 10, 2023	$	0.94		69,320
				3,048,320

(e) Earnings (loss) per share:

The calculations for basic earnings (loss) per share and diluted earnings (loss) per share are as follows:

	Three months ended September 30,						Nine months ended September 30,
	2023			2022			2023			2022
Net income (loss) for the period	$	(803	)	$	(1,129	)	$	(21	)	$	1,800
Basic weighted average number of shares outstanding		122,433,272			117,876,825			120,093,760			113,027,305
Effect of dilutive share options, warrants, and RSUs (‘000)		-			-			-			3,248,128
Diluted weighted average number of shares outstanding		122,433,272			117,876,825			120,093,760			116,275,433
Basic income (loss) per share	$	(0.01	)	$	(0.01	)	$	(0.00	)	$	0.02
Diluted income (loss) per share	$	(0.01	)	$	(0.01	)	$	(0.00	)	$	0.02

REVENUE AND COST OF SALES

9 Months Ended

Sep. 30, 2023

REVENUE AND COST OF SALES

Revenue and cost Of sales

16. REVENUE AND COST OF SALES

The Company’s revenues for the three and nine months ended September 30, 2023 and 2022, are all attributable to Mexico, from shipments of concentrate from the Avino Mine.

	Three months ended September 30,					Nine months ended September 30,
	2023		2022			2023			2022
Concentrate sales	$	11,599	$	9,445		$	31,429		$	30,423
Provisional pricing adjustments		717		(327	)		(70	)		(885	)
	$	12,316	$	9,118		$	31,359		$	29,538

Cost of sales is based on the weighted average cost of inventory sold for the periods and consists of the following:

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Production costs	$	9,228	$	6,544	$	23,939	$	17,378
Write down of equipment and materials and supplies inventory		4		-		95		-
Depreciation and depletion		720		514		2,067		1,454
	$	9,952	$	7,058	$	26,101	$	18,832

GENERAL AND ADMINISTRATIVE EXPENSES

9 Months Ended

Sep. 30, 2023

General and administrative expenses

17. GENERAL AND ADMINISTRATIVE EXPENSES

General and administrative expenses on the condensed consolidated interim statements of operations consist of the following:

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Salaries and benefits	$	383	$	326	$	1,069	$	1,123
Office and miscellaneous		391		261		1,008		855
Management and consulting fees		109		110		312		345
Investor relations		49		84		216		234
Travel and promotion		37		29		130		75
Professional fees		195		89		898		501
Directors fees		43		30		132		116
Regulatory and compliance fees		35		36		126		116
Depreciation		38		37		108		104
	$	1,280	$	997	$	3,999	$	3,469

COMMITMENTS

9 Months Ended

Sep. 30, 2023

Commitments

18. COMMITMENTS

The Company and its subsidiaries have various operating lease agreements for their office premises, use of land, and equipment. Commitments in respect of these lease agreements are as follows:

	September 30, 2023		December 31, 2022
Not later than one year	$	117	$	105
Later than one year and not later than five years		382		347
Later than five years		362		398
	$	861	$	850

Office lease payments recognized as an expense during the nine months ended September 30, 2023, totalled $27 (September 30, 2022 - $8).

SUPPLEMENT CASH FLOW INFORMATION

9 Months Ended

Sep. 30, 2023

Supplementary cash flow information

19. SUPPLEMENTARY CASH FLOW INFORMATION

	September 30, 2023			September 30, 2022
Net change in non-cash working capital items:
Inventory	$	(2,720	)	$	(1,986	)
Prepaid expenses and other assets		(329	)		(535	)
Taxes recoverable		(2,075	)		28
Taxes payable		(809	)		687
Amounts due to related parties		(59	)		(79	)
Accounts payable and accrued liabilities		2,592			2,101
Amounts receivable		199			552
	$	(3,201	)	$	768

	September 30, 2023		September 30, 2022
Other supplementary information:
Interest paid	$	180	$	73
Taxes paid		29		-
	$	209	$	73

	September 30, 2023		September 30, 2022
Non-cash investing and financing activities:
Acquisition of La Preciosa, net of cash & transaction costs	$	-	$	21,535
Shares acquired under terms of option agreements		41		15
Transfer of share-based payments reserve upon exercise of RSUs		1,019		-
Transfer of share-based payments reserve upon option exercise		-		15
Equipment acquired under finance leases and equipment loans		2,888		1,589
	$	3,948	$	23,174

FINANCIAL INSTRUMENTS

9 Months Ended

Sep. 30, 2023

FINANCIAL INSTRUMENTS

Financial instruments

20. FINANCIAL INSTRUMENTS

The Company’s financial instruments are exposed to certain financial risks, including credit risk, liquidity risk, and market risk.

(a) Credit Risk

(b) Liquidity Risk

The maturity profiles of the Company’s contractual obligations and commitments as at September 30, 2023, are summarized as follows:

	Total		Less Than 1 Year		1-5 years		More Than 5 Years
Accounts payable and accrued liabilities	$	11,675	$	11,675	$	-	$	-
Minimum rental and lease payments		850		105		347		398
Equipment loans		439		191		248		-
Finance lease obligations		3,796		1,918		1,878		-
Total	$	16,760	$	13,889	$	2,473	$	398

(c) Market Risk

Market risk consists of interest rate risk, foreign currency risk and price risk. These are discussed further below.

Interest Rate Risk

Interest rate risk consists of two components:

(i)

(ii)

To the extent that changes in prevailing market rates differ from the interest rates on the Company’s monetary assets and liabilities, the Company is exposed to interest rate price risk.

Foreign Currency Risk

	September 30, 2023						December 31, 2022
	MXN			CDN			MXN			CDN
Cash	$	2,451		$	113		$	4,097		$	250
Due from related parties		2,310			-			1,402			-
Long-term investments		-			1,204			-			2,365
Reclamation bonds		-			6			-			4
Amounts receivable		6,478			56			-			34
Accounts payable and accrued liabilities		(93,198	)		(346	)		(85,486	)		(108	)
Due to related parties		-			(135	)		-			(135	)
Finance lease obligations		(598	)		(256	)		(161	)		(343	)
Net exposure		(82,557	)		642			(80,148	)		2,067
US dollar equivalent	$	468		$	(43	)	$	(4,136	)	$	1,526

Price Risk

(d) Classification of Financial Instruments

IFRS 13 Financial Instruments: Disclosures establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value as follows:

Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2 – inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and

Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs).

	Level 1		Level 2		Level 3
Financial assets
Cash	$	1,856	$	-	$	-
Amounts receivable		-		2,473		-
Long-term investments		891		-		-
Total financial assets	$	2,747	$	2,473	$	-

The Company uses Black-Scholes model to measure its Level 3 financial instruments. As at September 30, 2023, the Company’s has no Level 3 financial instruments.

SEGMENTED INFORMATION

9 Months Ended

Sep. 30, 2023

Segemented information

21. SEGMENTED INFORMATION

On the condensed consolidated interim statements of operations, the Company had revenue from the following product mixes:

	Three months ended September 30,						Nine months ended September 30,
	2023			2022			2023			2022
Silver	$	4,280		$	3,454		$	11,610		$	10,722
Copper		5,907			5,625			14,658			17,884
Gold		3,669			2,310			9,516			7,141
Penalties, treatment costs and refining charges		(1,540	)		(2,271	)		(4,425	)		(6,209	)
Total revenue from mining operations	$	12,316		$	9,118		$	31,359		$	29,538

For the three and nine months ended September 30, 2023, the Company had three customers (September 30, 2022 – three customers) that accounted for total revenues as follows:

	Three months ended September 30,						Nine months ended September 30,
	2023			2022			2023			2022
Customer #1	$	9,101		$	7,710		$	26,209		$	25,569
Customer #2		3,220			1,415			5,246			3,161
Other customers		(5	)		(7	)		(96	)		808
Total revenue from mining operations	$	12,316		$	9,118		$	31,359		$	29,538

Geographical information relating to the Company’s non-current assets (other than financial instruments) is as follows:

	September 30, 2023		December 31, 2022
Exploration and evaluation assets - Mexico	$	50,450	$	49,803
Exploration and evaluation assets - Canada		1		1
Total exploration and evaluation assets	$	50,451	$	49,804

	September 30, 2023		December 31, 2022
Plant, equipment, and mining properties - Mexico	$	50,843	$	43,812
Plant, equipment, and mining properties - Canada		196		244
Total plant, equipment, and mining properties	$	51,039	$	44,056

SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2023

SUBSEQUENT EVENTS

Subsequent events

22. SUBSEQUENT EVENTS

At-The-Market Sales – Subsequent to September 30, 2023, the Company issued 1,091,425 common shares in at-the-market offerings under prospectus supplement for gross proceeds of $556.

BASIS OF PRESENTATION (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of audited consolidated financial statements

Subsidiary	Ownership Interest		Jurisdiction	Nature of Operations
Oniva Silver and Gold Mines S.A. de C.V.		100%	Mexico	Mexican operations and administration
Nueva Vizcaya Mining, S.A. de C.V.		100%	Mexico	Mexican administration
Promotora Avino, S.A. de C.V. (“Promotora”)		79.09%	Mexico	Holding company
Compañía Minera Mexicana de Avino, S.A. de C.V. (“Avino Mexico”)		98.45% direct 1.22% indirect (Promotora) 99.67% effective	Mexico	Mining and exploration
La Luna Silver & Gold Mines Ltd.		100%	Canada	Holding company
La Preciosa Silver & Gold Mines Ltd.		100%	Canada	Holding company
Proyectos Mineros La Preciosa S.A. de C.V.		100%	Mexico	Mining and exploration
Cervantes LLP		100%	U.S.	Holding company

ACQUISITION OF LA PRECIOSA (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of fair values of assets acquired and liabilities assumed

Cash paid	$	15,301
Note payable		4,665
Common shares		14,630
Share purchase warrants		2,240
Total purchase consideration		36,836
Transaction costs		270
Total acquisition cost	$	37,106

Cash	$	168
Other current assets		1,121
Plant and equipment		1,621
Exploration and evaluation assets		34,524
Accounts payable		(328	)
Net assets acquired	$	37,106

TAXES RECOVERABLE (Tables)

9 Months Ended

Sep. 30, 2023

TAXES RECOVERABLE

Schedule Of Income Taxes Recoverable And Canadian Sales Taxes

	September 30, 2023		December 31, 2022
VAT recoverable	$	2,483	$	1,385
GST recoverable		41		25
Income taxes recoverable		3,288		2,327
	$	5,812	$	3,737

INVENTORY (Tables)

9 Months Ended

Sep. 30, 2023

INVENTORY

Schedule Of Inventory

	September 30, 2023		December 31, 2022
Process material stockpiles	$	3,262	$	2,788
Concentrate inventory		3,154		1,617
Materials and supplies		2,457		1,855
	$	8,873	$	6,260

LONG-TERM INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Schedule Of Long-term Investments

	Fair Value December 31,				Movements in foreign		Fair value adjustments			Fair Value September 30,
	2022		Net Additions		exchange		for the period			2023
Talisker Resources Common Shares	$	1,640	$	-	$	8	$	(838	)	$	810
Silver Wolf Exploration Ltd. Common Shares		51		36		-		(34	)		53
Endurance Gold Corp. Common Shares		55		-		-		(27	)		28
	$	1,746	$	36	$	8	$	(899	)	$	891

EXPLORATION AND EVALUATION ASSETS (Tables)

9 Months Ended

Sep. 30, 2023

Schedule Of Exploration And Evaluation Costs

	Avino, Mexico			La Preciosa, Mexico			British Columbia & Yukon, Canada		Total


Balance, January 1, 2022	$	11,052		$	-		$	1	$	11,053

Costs incurred during 2022:
Acquisition costs – Note 4		-			37,618					37,618
Drilling and exploration		719			296			-		1,015
Assessments and taxes		94			61			-		155
Effect of movements in exchange rates		(30	)		-			-		(30	)
Option income		(7	)		-			-		(7	)

Balance, December 31, 2022	$	11,828		$	37,975		$	1	$	49,804
Costs incurred during 2023:
Drilling and exploration		583			384			-		967
Assessments and taxes		88			(243	)		-		(155	)
Effect of movements in exchange rates		22			(124	)		-		(102	)
Option income		(63	)		-			-		(63	)

Balance, September 30, 2023	$	12,458		$	37,992		$	1	$	50,451

PLANT EQUIPMENT AND MINING PROPERTIES (Tables)

9 Months Ended

Sep. 30, 2023

PLANT EQUIPMENT AND MINING PROPERTIES

Schedule Of Plant, Equipment And Mining Properties

	Mining properties			Office equipment, furniture, and fixtures			Computer equipment			Mine machinery and transportation equipment			Mill machinery and processing equipment			Buildings and construction in process		Total
	$			$			$			$			$			$		$
COST
Balance at January 1, 2022		13,038			595			335			14,240			18,613			11,778		58,599
Additions / Transfers		1,649			185			441			2,383			4,781			2,907		12,346
Writedowns		-			-			-			(1,692	)		(100	)		-		(1,792	)
Effect of movements in exchange rates		-			(17	)		(2	)		(1	)		-			8		(12	)
Balance at December 31, 2022		14,687			763			774			14,930			23,294			14,693		69,141
Additions / Transfers		1,725			74			698			3,182			2,809			678		9,166
Writedowns		-			(3	)		(22	)		(623	)		-			-		(648	)
Effect of movements in exchange rates		(17	)		-			-			-			-			-		(17	)
Balance at September 30, 2023		16,395			834			1,450			17,489			26,103			15,371		77,642

ACCUMULATED DEPLETION AND DEPRECIATION
Balance at January 1, 2022		8,856			294			267			4,944			6,667			1,896		22,924
Additions / Transfers		250			147			331			1,616			146			1,133		3,623
Writedowns		-			-			-			(1,382	)		(80	)		-		(1,462	)
Balance at December 31, 2022		9,106			441			598			5,178			6,733			3,029		25,085
Additions / Transfers		267			89			133			682			780			204		2,155
Writedowns		-			(2	)		(21	)		(612	)		(2	)		-		(637	)
Balance at September 30, 2023		9,373			528			710			5,248			7,511			3,233		26,603

NET BOOK VALUE
At September 30, 2023		7,022			306			740			12,241			18,592			12,138		51,039
At December 31, 2022		5,581			322			176			9,752			16,561			11,664		44,056
At January 1, 2022		4,182			301			68			9,296			11,946			9,882		35,675

RELATED PARTY TRANSACTIONS AND BALANCES (Tables)

9 Months Ended

Sep. 30, 2023

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Salaries, benefits, and consulting fees	$	289	$	237	$	869	$	975
Share-based payments		502		427		1,472		1,251
	$	791	$	664	$	2,341	$	2,226

	September 30, 2023			December 31, 2022
Oniva International Services Corp.	$	100		$	100
Silver Wolf Exploration Ltd.		(131	)		(72	)
	$	(31	)	$	28

Schedule Of Due To Related Parties

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Salaries and benefits	$	240	$	218	$	729	$	670
Office and miscellaneous		107		119		364		325
	$	347	$	337	$	1,093	$	995

NOTE PAYABLE (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of note payable

	September 30,			December 31,
	2023			2022
Balance at beginning of the period	$	4,926		$	-
Additions		-			4,665
Repayments		(5,000	)		-
Unwinding of fair value adjustment		74			261
Balance at end of the period		-			4,926
Less: Current portion		-			(4,926	)
Non-current portion	$	-		$	-

WARRANT LIABILITY (Tables)

9 Months Ended

Sep. 30, 2023

Schedule Of Change In Warrant Liability

	September 30, 2023			December 31, 2022
Balance at beginning of the period	$	475		$	741
Warrants issued		-			2,240
Fair value adjustment		(478	)		(2,935	)
Effect of movement in exchange rates		3			(111	)
Balance at end of the period	$	-		$	475

Schedule Of Warrants Outstanding And Exercisable

	Underlying Shares			Weighted Average Exercise Price
Warrants outstanding and exercisable, January 1, 2022		1,950,412		$	0.80
Granted		7,000,000		$	1.09
Warrants outstanding and exercisable, December 31, 2022		8,950,412		$	1.03
Expired		(8,950,412	)	$	1.03
Warrants outstanding and exercisable, September 30, 2023		-			-

Schedule Of Fair Value Of Warrant Liability

	September 30, 2023			December 31, 2022
Weighted average assumptions:
Risk-free interest rate	-		%		4.07	%
Expected dividend yield	-		%		0	%
Expected warrant life (years)		-			0.73
Expected stock price volatility	-		%		56.80	%
Weighted average fair value	$	-		$	0.05

RECLAMATION PROVISION (Tables)

9 Months Ended

Sep. 30, 2023

RECLAMATION PROVISION

Reconciliation Of The Changes In The Company's Reclamation Provision

	September 30, 2023		December 31, 2022

Balance at beginning of the period	$	445	$	726
Changes in estimates		-		(364	)
Unwinding of discount related to continuing operations		36		44
Effect of movements in exchange rates		63		39
Balance at end of the period	$	544	$	445

SHARE CAPITAL AND SHARE-BASED PAYMENTS (Tables)

9 Months Ended

Sep. 30, 2023

SHARE CAPITAL AND SHARE-BASED PAYMENTS

Schedule Of Stock Options

	Underlying Shares			Weighted Average Exercise Price (C$)

Stock options outstanding, January 1, 2022		2,839,000		$	1.68
Granted		2,390,000		$	1.20
Exercised		(48,000	)	$	0.79
Expired		(880,000	)	$	1.98
Cancelled / Forfeited		(45,000	)	$	1.40
Stock options outstanding, December 31, 2022		4,256,000		$	1.36
Granted		2,545,000		$	1.12
Expired		(105,000	)	$	1.30
Cancelled / Forfeited		(30,000	)	$	1.40
Stock options outstanding, September 30, 2023		6,666,000		$	1.27
Stock options exercisable, September 30, 2023		5,328,500		$	1.31

Schedule Of Stock Options Outsanding And Exercisable

			Outstanding				Exercisable
Expiry Date	Price (C$)		Number of Options		Weighted Average Remaining Contractual Life (Years)		Number of Options		Weighted Average Remaining Contractual Life (Years)
August 21, 2024	$	0.79		126,000		0.89		126,000		0.89
August 4, 2025	$	1.64		1,660,000		1.85		1,660,000		1.85
March 25, 2027	$	1.20		2,330,000		3.48		2,330,000		3.48
May 4, 2027	$	0.92		25,000		3.59		25,000		3.59
March 29, 2028	$	1.12		2,375,000		4.50		1,187,500		4.50
July 10, 2028	$	1.12		150,000		4.78		-		4.78

				6,666,000		3.31		5,328,500		3.14

Schedule of fair value of the stock options was calculated using the Black-Scholes model

	September 30, 2023			December 31, 2022
Weighted average assumptions:
Risk-free interest rate		3.10	%		2.49	%
Expected dividend yield		0.00	%		0.0	%
Expected warrant life (years)		5.00			5.00
Expected stock price volatility		61.10	%		59.98	%
Expected forfeiture rate		17	%		20	%
Weighted average fair value	$	0.60		$	0.63

Schedule Of Rsu Outstanding

	Underlying Shares			Weighted Average Price (C$)

RSUs outstanding, January 1, 2022		1,439,477		$	1.32
Granted		1,799,000		$	1.19
Exercised		(982,879	)	$	1.18
Cancelled / Forfeited		(64,932	)	$	1.40
RSUs outstanding, December 31, 2022		2,190,666		$	1.27
Granted		1,878,320		$	1.11
Exercised		(1,005,333	)	$	1.37
Cancelled / Forfeited		(15,333	)	$	1.14
RSUs outstanding, September 30, 2023		3,048,320		$	1.03

Schedule of summarizes information about the RSUs

Issuance Date	Price (C$)		Number of RSUs Outstanding
March 25, 2022	$	1.19		1,182,000
March 29, 2023	$	1.12		1,797,000
July 10, 2023	$	0.94		69,320
				3,048,320

Schedule Of Basic Earnings Per Share And Diluted Earnings Per Share

	Three months ended September 30,						Nine months ended September 30,
	2023			2022			2023			2022
Net income (loss) for the period	$	(803	)	$	(1,129	)	$	(21	)	$	1,800
Basic weighted average number of shares outstanding		122,433,272			117,876,825			120,093,760			113,027,305
Effect of dilutive share options, warrants, and RSUs (‘000)		-			-			-			3,248,128
Diluted weighted average number of shares outstanding		122,433,272			117,876,825			120,093,760			116,275,433
Basic income (loss) per share	$	(0.01	)	$	(0.01	)	$	(0.00	)	$	0.02
Diluted income (loss) per share	$	(0.01	)	$	(0.01	)	$	(0.00	)	$	0.02

REVENUE AND COST OF SALES (Tables)

9 Months Ended

Sep. 30, 2023

REVENUE AND COST OF SALES

Schedule Of Revenue

	Three months ended September 30,					Nine months ended September 30,
	2023		2022			2023			2022
Concentrate sales	$	11,599	$	9,445		$	31,429		$	30,423
Provisional pricing adjustments		717		(327	)		(70	)		(885	)
	$	12,316	$	9,118		$	31,359		$	29,538

Schedule Of Cost Of Sales

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Production costs	$	9,228	$	6,544	$	23,939	$	17,378
Write down of equipment and materials and supplies inventory		4		-		95		-
Depreciation and depletion		720		514		2,067		1,454
	$	9,952	$	7,058	$	26,101	$	18,832

GENERAL AND ADMINISTRATIVE EXPENSES (Tables)

9 Months Ended

Sep. 30, 2023

Schedule Of General And Administrative Expenses

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Salaries and benefits	$	383	$	326	$	1,069	$	1,123
Office and miscellaneous		391		261		1,008		855
Management and consulting fees		109		110		312		345
Investor relations		49		84		216		234
Travel and promotion		37		29		130		75
Professional fees		195		89		898		501
Directors fees		43		30		132		116
Regulatory and compliance fees		35		36		126		116
Depreciation		38		37		108		104
	$	1,280	$	997	$	3,999	$	3,469

COMMITMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Schedule Of Commitments

	September 30, 2023		December 31, 2022
Not later than one year	$	117	$	105
Later than one year and not later than five years		382		347
Later than five years		362		398
	$	861	$	850

SUPPLEMENT CASH FLOW INFORMATION (Tables)

9 Months Ended

Sep. 30, 2023

Schedule Of Supplement Cash Flow Information

	September 30, 2023			September 30, 2022
Net change in non-cash working capital items:
Inventory	$	(2,720	)	$	(1,986	)
Prepaid expenses and other assets		(329	)		(535	)
Taxes recoverable		(2,075	)		28
Taxes payable		(809	)		687
Amounts due to related parties		(59	)		(79	)
Accounts payable and accrued liabilities		2,592			2,101
Amounts receivable		199			552
	$	(3,201	)	$	768

	September 30, 2023		September 30, 2022
Other supplementary information:
Interest paid	$	180	$	73
Taxes paid		29		-
	$	209	$	73

	September 30, 2023		September 30, 2022
Non-cash investing and financing activities:
Acquisition of La Preciosa, net of cash & transaction costs	$	-	$	21,535
Shares acquired under terms of option agreements		41		15
Transfer of share-based payments reserve upon exercise of RSUs		1,019		-
Transfer of share-based payments reserve upon option exercise		-		15
Equipment acquired under finance leases and equipment loans		2,888		1,589
	$	3,948	$	23,174

FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2023

FINANCIAL INSTRUMENTS

Schedule Of Contractual Obligations And Commitments

	Total		Less Than 1 Year		1-5 years		More Than 5 Years
Accounts payable and accrued liabilities	$	11,675	$	11,675	$	-	$	-
Minimum rental and lease payments		850		105		347		398
Equipment loans		439		191		248		-
Finance lease obligations		3,796		1,918		1,878		-
Total	$	16,760	$	13,889	$	2,473	$	398

Schedule Of Foreign Currency Risk

	September 30, 2023						December 31, 2022
	MXN			CDN			MXN			CDN
Cash	$	2,451		$	113		$	4,097		$	250
Due from related parties		2,310			-			1,402			-
Long-term investments		-			1,204			-			2,365
Reclamation bonds		-			6			-			4
Amounts receivable		6,478			56			-			34
Accounts payable and accrued liabilities		(93,198	)		(346	)		(85,486	)		(108	)
Due to related parties		-			(135	)		-			(135	)
Finance lease obligations		(598	)		(256	)		(161	)		(343	)
Net exposure		(82,557	)		642			(80,148	)		2,067
US dollar equivalent	$	468		$	(43	)	$	(4,136	)	$	1,526

Schedule Of Fair Value On Recurring Basis

	Level 1		Level 2		Level 3
Financial assets
Cash	$	1,856	$	-	$	-
Amounts receivable		-		2,473		-
Long-term investments		891		-		-
Total financial assets	$	2,747	$	2,473	$	-

SEGMENTED INFORMATION (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of condensed consolidated interim statements of operations

	Three months ended September 30,						Nine months ended September 30,
	2023			2022			2023			2022
Silver	$	4,280		$	3,454		$	11,610		$	10,722
Copper		5,907			5,625			14,658			17,884
Gold		3,669			2,310			9,516			7,141
Penalties, treatment costs and refining charges		(1,540	)		(2,271	)		(4,425	)		(6,209	)
Total revenue from mining operations	$	12,316		$	9,118		$	31,359		$	29,538

Schedule of revenues from customers

	Three months ended September 30,						Nine months ended September 30,
	2023			2022			2023			2022
Customer #1	$	9,101		$	7,710		$	26,209		$	25,569
Customer #2		3,220			1,415			5,246			3,161
Other customers		(5	)		(7	)		(96	)		808
Total revenue from mining operations	$	12,316		$	9,118		$	31,359		$	29,538

Schedule of geographical information of company's non current assets

	September 30, 2023		December 31, 2022
Exploration and evaluation assets - Mexico	$	50,450	$	49,803
Exploration and evaluation assets - Canada		1		1
Total exploration and evaluation assets	$	50,451	$	49,804

	September 30, 2023		December 31, 2022
Plant, equipment, and mining properties - Mexico	$	50,843	$	43,812
Plant, equipment, and mining properties - Canada		196		244
Total plant, equipment, and mining properties	$	51,039	$	44,056

BASIS OF PRESENTATION (Details)	9 Months Ended
BASIS OF PRESENTATION (Details)	Sep. 30, 2023
La Preciosa Silver & Gold Mines Ltd.(Member)
Statement [Line Items]
Ownership Interest	100.00%
Jurisdiction	Canada
Nature of Operations	Holding company
Nueva Vizcaya Mining, S.A. de C.V. (Member)
Statement [Line Items]
Ownership Interest	100.00%
Jurisdiction	Mexico
Nature of Operations	Mexican administration
Compania Minera Mexicana de Avino, S.A. de C.V. (Member)
Statement [Line Items]
Jurisdiction	Mexico
Nature of Operations	Mining and exploration
Ownership Interest Indirect	1.22%
Ownership Interest Direct	98.45%
Ownership Interest Effective	99.67%
Proyectos Mineros La Preciosa S.A. de C.V. (Member)
Statement [Line Items]
Ownership Interest	100.00%
Jurisdiction	Mexico
Nature of Operations	Mining and exploration
Cervantes LLP (Member)
Statement [Line Items]
Ownership Interest	100.00%
Jurisdiction	U.S.
Nature of Operations	Holding company
La Luna Silver & Gold Mines Ltd. (Member)
Statement [Line Items]
Ownership Interest	100.00%
Jurisdiction	Canada
Nature of Operations	Holding company
Promotora Avino, S.A. de C.V. (Member)
Statement [Line Items]
Ownership Interest	79.09%
Jurisdiction	Mexico
Nature of Operations	Holding company
Oniva Silver and Gold Mines S.A. de C.V [Member]
Statement [Line Items]
Ownership Interest	100.00%
Jurisdiction	Mexico
Nature of Operations	Mexican operations and administration

ACQUISITION OF LA PRECIOSA (Details) - USD ($)	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement [Line Items]
Plant And Equipment	$ 51,039,000	$ 50,482,000	$ 44,056,000	$ 35,675,000
Fair values of the Assets acquired and Liabilities
Statement [Line Items]
Cash Paid	15,301,000
Note Payable	4,665,000
Common Shares	14,630,000
Share Purchase Warrants	2,240,000
Total Purchase Consideration	36,836,000
Transaction Costs	270,000
Total Acquisition Cost	37,106,000
Cash	168,000
Other Current Assets	1,121,000
Plant And Equipment	1,621,000
Exploration And Evaluation Assets	34,524,000
Accounts payable	(328,000)
Net Assets Acquired	$ 37,106,000

ACQUISITION OF LA PRECIOSA (Details Narrative) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares
Statement [Line Items]
Inflationary Adjustment Description	A payment of $0.25 per silver equivalent ounce (subject to inflationary adjustment) of new mineral reserves (as defined by NI 43-101) discovered and declared outside of the current mineral resource area at La Preciosa, subject to a cap of $50 million, and any such payments will be credited against any existing or future payments owing on the gross value royalty
Avino
Statement [Line Items]
Maximum percentage of issued and outstanding shares	19.90%
Common Stock Shares Issuance, Shares \| shares	14,000,000
Common Shares Issuance, Value	$ 13,650
La Preciosa Silver & Gold Mines Ltd.(Member)
Statement [Line Items]
Royalty Returns	2.00%
Gloria and Abundancia
Statement [Line Items]
Royalty Returns	1.25%
Coeur
Statement [Line Items]
Cash Consideration	$ 15,300
Promissory Note	$ 5,000
Warrants Purchase \| shares	7,000,000
Warrants Value	$ 2,240
Warrants Exercisable Price Per Shares \| $ / shares	$ 1.09
Warrants Premium	25.00%
Additional Cash Payment	$ 8,750

TAXES RECOVERABLE (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
TAXES RECOVERABLE
VAT Recoverable	$ 2,483	$ 1,385
GST Recoverable	41	25
Income taxes recoverable	3,288	2,327
Total Taxes Recoverable	$ 5,812	$ 3,737

INVENTORY (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
INVENTORY
Process Material Stockpiles	$ 3,262	$ 2,788
Concentrate Inventory	3,154	1,617
Materials And Supplies	2,457	1,855
Inventories	$ 8,873	$ 6,260

INVENTORY (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INVENTORY (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
INVENTORY
Cost Of Sales	$ 9,952	$ 7,058	$ 26,101	$ 18,832
Wrote down material and supplies inventory			$ 84

LONG-TERM INVESTMENTS (Details) $ in Thousands	9 Months Ended
LONG-TERM INVESTMENTS (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Talisker Resources Ltd [Member] \| Common Shares [Member]
Statement [Line Items]
Net Additions	$ 0
Movements In Foreign Exchange	8
Fair Value Adjustments For The Period	(838)
Fair Value Of Long Term Investments, Ending Balance	810
Fair Value Of Long Term Investments, Beginning Balance	1,640
Silver Wolf Exploration Ltd. [Member] \| Common Share [Member]
Statement [Line Items]
Net Additions	36
Movements In Foreign Exchange	0
Fair Value Adjustments For The Period	(34)
Fair Value Of Long Term Investments, Ending Balance	53
Fair Value Of Long Term Investments, Beginning Balance	51
Endurance Gold Corp. Common Shares
Statement [Line Items]
Net Additions	0
Movements In Foreign Exchange	0
Fair Value Adjustments For The Period	(27)
Fair Value Of Long Term Investments, Ending Balance	28
Fair Value Of Long Term Investments, Beginning Balance	55
Total Fair Value [Member] \| Common Shares [Member]
Statement [Line Items]
Net Additions	36
Movements In Foreign Exchange	8
Fair Value Adjustments For The Period	(899)
Fair Value Of Long Term Investments, Ending Balance	891
Fair Value Of Long Term Investments, Beginning Balance	$ 1,746

LONG-TERM INVESTMENTS (Details Narrative)	9 Months Ended
LONG-TERM INVESTMENTS (Details Narrative)	Sep. 30, 2023 shares
Silver Wolf Exploration Ltd. [Member] \| Common Share [Member]
Statement [Line Items]
Number of common stock shares recevied as part of Option Agreement	500,000

EXPLORATION AND EVALUATION ASSETS (Details) - USD ($)	9 Months Ended	12 Months Ended
EXPLORATION AND EVALUATION ASSETS (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Statement [Line Items]
Beginning Balance	$ 49,804,000	$ 11,053,000
Acquisition costs - Note 4		37,618,000
Drilling And Exploration	967,000	1,015,000
Assessments And Taxes	(155,000)	155,000
Effect Of Movements In Exchange Rates	(102,000)	(30,000)
Option income	(63,000)	(7,000)
Ending Balance	50,451,000	49,804,000
Avino, Mexico [Member]
Statement [Line Items]
Beginning Balance	11,828,000	11,052,000
Acquisition costs - Note 4		0
Drilling And Exploration	583,000	719,000
Assessments And Taxes	88,000	94,000
Effect Of Movements In Exchange Rates	22,000	(30,000)
Option income	(63,000)	(7,000)
Ending Balance	12,458,000	11,828,000
La Preciosa, Mexico [Member]
Statement [Line Items]
Beginning Balance	37,975,000	0
Acquisition costs - Note 4		37,618,000
Drilling And Exploration	384,000	296,000
Assessments And Taxes	(243,000)	61,000
Effect Of Movements In Exchange Rates	(124,000)	0
Option income	0	0
Ending Balance	37,992,000	37,975,000
British Columbia & Yukon, Canada [Member]
Statement [Line Items]
Beginning Balance	1,000	1,000
Drilling And Exploration	0	0
Assessments And Taxes	0	0
Effect Of Movements In Exchange Rates	0	0
Option income	0	0
Ending Balance	$ 1,000	$ 1,000

EXPLORATION AND EVALUATION ASSETS (Details Narrative) $ / shares in Units, $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2023 USD ($) $ / shares	Sep. 30, 2023 CAD ($) shares	Dec. 31, 2022 CAD ($) shares	Dec. 31, 2012 CAD ($) shares	Sep. 30, 2023 CAD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Statement [Line Items]
Letter Agreement Description		Endurance can earn a 100% interest in the Olympic Claims if they pay Avino a total cash consideration in the aggregate amount of C$100, issue up to a total of 1,500,000 common shares (“Shares”) of Endurance and incur exploration expenditures in the aggregate amount of C$300; all of which is to be incurred by December 31, 2024. In the event that Endurance earns the 100% interest, the Olympic Claims will be subject to a 2% net smelter return royalty (“NSR”), of which 1% NSR can be purchased by the Endurance for C$750 and the remaining balance of the NSR can be purchased for C$1,000
Granted Shares \| shares			200,000
Payment			$ 25
Exploration Expenditures Properties	$ 50,451,000					$ 49,804,000	$ 11,053,000
Durango, Mexico [Member] \| Unification La Platosa properties [Member]
Statement [Line Items]
Description For Exploration Period		the Company has obtained the exclusive right to explore and mine the property for an initial period of 15 years
Exploration And Mining Rights Acquisition Consideration Transferred, Shares Issued \| shares				135,189
Exploration And Mining Rights Acquisition Consideration Transferred Shares Issued, Value				$ 250
Durango, Mexico [Member] \| Unification La Platosa properties [Member] \| Minerales [Member]
Statement [Line Items]
Description Of Royalty Terms		The Company has agreed to pay to Minerales a royalty equal to 3.5% of net smelter returns (“NSR”). In addition, after the start of production, if the minimum monthly processing rate of the mine facilities is less than 15,000 tonnes, then the Company must pay to Minerales a minimum royalty equal to the applicable NSR royalty based on the processing at a monthly rate of 15,000 tonnes
Description For Exclusive Right Acquisition Under Agreement		Minerales has also granted to the Company the exclusive right to purchase a 100% interest in the property at any time during the term of the agreement (or any renewal thereof), upon payment of $8 million within 15 days of the Company’s notice of election to acquire the property. The purchase would be subject to a separate purchase agreement for the legal transfer of the property
Eagle property option agreement [Member] \| Mayo Mining Division [Member] \| Yukon, Canada [Member]
Statement [Line Items]
Ownership Percentage		100.00%
Terms Of Agreement		The Company has a 100% interest in 14 quartz leases located in the Mayo Mining Division of Yukon, Canada, which collectively comprise the Eagle property
Cash consideration		$ 250
Avino, Mexico [Member]
Statement [Line Items]
Exploration Expenditures Properties	$ 12,458,000					$ 11,828,000	$ 11,052,000
Warrants Purchase \| shares		750,000
Warrants Premium		25.00%
Option Description		Endurance is successful in defining a compliant mineral resource of at least 500,000 gold-equivalent ounces on the Olympic Claims then Endurance will be obliged to pay Avino a C$1,000 discovery bonus
Silver Wolf Exploration Ltd. [Member]
Statement [Line Items]
Common Stock Shares Issued Value		$ 50
Exploration Expenditures Properties					$ 750
Silver Wolf Exploration Ltd. [Member] \| First Anniversary [Member]
Statement [Line Items]
Common Stock Shares Issued Value		50
Exploration Expenditures Properties					50
Silver Wolf Exploration Ltd. [Member] \| Second Anniversary [Member]
Statement [Line Items]
Common Stock Shares Issued Value		100
Exploration Expenditures Properties					100
Silver Wolf Exploration Ltd. [Member] \| Third Anniversary [Member]
Statement [Line Items]
Common Stock Shares Issued Value		200
Silver Wolf Exploration Ltd. [Member] \| Fourth Anniversary [Member]
Statement [Line Items]
Common Stock Shares Issued Value		200
Exploration Expenditures Properties					$ 600
Silver Wolf Exploration Ltd. [Member] \| Option Agreement [Member]
Statement [Line Items]
Common Stock Shares Issued Value		$ 600
Warrants Acquire to common shares \| shares		300,000
Exercise Price \| $ / shares	$ 0.20
Common stock acquisition period		36 months
Ownership Percentage		100.00%

NON-CONTROLLING INTEREST (Details Narrative)	9 Months Ended	12 Months Ended
NON-CONTROLLING INTEREST (Details Narrative)	Sep. 30, 2023	Dec. 31, 2022
Ownership Interest, Percentage	99.67%	99.67%
Non-controlling Interest	0.33%	0.33%

PLANT EQUIPMENT AND MINING PROPERTIES (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Statement [Line Items]
Beginning Balance	$ 69,141,000	$ 58,599,000
Additions/ Transfers	9,166,000	12,346,000
Writendowns	(648,000)	(1,792,000)
Effect Of Movements In Exchange Rates	(17,000)	(12,000)
Ending Balance	77,642,000
Accumulated Depletion And Depreciation, Beginning Balance	25,085,000	22,924,000
Accumulated Depletion And Depreciation, Additions / Transfers	2,155,000	3,623,000
Accumulated Depletion And Depreciation, Writedowns	(637,000)	(1,462,000)
Accumulated Depletion And Depreciation, Ending Balance	26,603,000	25,085,000
Net book value, Ending	51,039,000	44,056,000
Net book value, Beginning balance	44,056,000	35,675,000
Office Equipment Furniture And Fixtures [Member]
Statement [Line Items]
Beginning Balance	763,000	595,000
Additions/ Transfers	74,000	185,000
Writendowns	(3,000)	0
Effect Of Movements In Exchange Rates	0	(17,000)
Ending Balance	834,000
Accumulated Depletion And Depreciation, Beginning Balance	441,000	294,000
Accumulated Depletion And Depreciation, Additions / Transfers	89,000	147,000
Accumulated Depletion And Depreciation, Writedowns	(2,000)	0
Accumulated Depletion And Depreciation, Ending Balance	528,000	441,000
Net book value, Ending	306,000	322,000
Net book value, Beginning balance	322,000	301,000
Mine Machinery And Transportation Equipment [Member]
Statement [Line Items]
Beginning Balance	14,930,000	14,240,000
Additions/ Transfers	3,182,000	2,383,000
Writendowns	(623,000)	(1,692,000)
Effect Of Movements In Exchange Rates	0	(1,000)
Ending Balance	17,489,000
Accumulated Depletion And Depreciation, Beginning Balance	5,178,000	4,944,000
Accumulated Depletion And Depreciation, Additions / Transfers	682,000	1,616,000
Accumulated Depletion And Depreciation, Writedowns	(612,000)	(1,382,000)
Accumulated Depletion And Depreciation, Ending Balance	5,248,000	5,178,000
Net book value, Ending	12,241,000	9,752,000
Net book value, Beginning balance	9,752,000	9,296,000
Mill Machinery And Processing Equipment [Member]
Statement [Line Items]
Beginning Balance	23,294,000	18,613,000
Additions/ Transfers	2,809,000	4,781,000
Writendowns	0	(100,000)
Effect Of Movements In Exchange Rates	0	0
Ending Balance	26,103,000
Accumulated Depletion And Depreciation, Beginning Balance	6,733,000	6,667,000
Accumulated Depletion And Depreciation, Additions / Transfers	780,000	146,000
Accumulated Depletion And Depreciation, Writedowns	(2,000)	(80,000)
Accumulated Depletion And Depreciation, Ending Balance	7,511,000	6,733,000
Net book value, Ending	18,592,000	16,561,000
Net book value, Beginning balance	16,561,000	11,946,000
Mining Property [Member]
Statement [Line Items]
Beginning Balance	14,687,000	13,038,000
Additions/ Transfers	1,725,000	1,649,000
Writendowns	0	0
Effect Of Movements In Exchange Rates	(17,000)	0
Ending Balance	16,395,000
Accumulated Depletion And Depreciation, Beginning Balance	9,106,000	8,856,000
Accumulated Depletion And Depreciation, Additions / Transfers	267,000	250,000
Accumulated Depletion And Depreciation, Writedowns	0	0
Accumulated Depletion And Depreciation, Ending Balance	9,373,000	9,106,000
Net book value, Ending	7,022,000	5,581,000
Net book value, Beginning balance	5,581,000	4,182,000
Computer equipment [member]
Statement [Line Items]
Beginning Balance	774,000	335,000
Additions/ Transfers	698,000	441,000
Writendowns	(22,000)	0
Effect Of Movements In Exchange Rates	0	(2,000)
Ending Balance	1,450,000
Accumulated Depletion And Depreciation, Beginning Balance	598,000	267,000
Accumulated Depletion And Depreciation, Additions / Transfers	133,000	331,000
Accumulated Depletion And Depreciation, Writedowns	(21,000)	0
Accumulated Depletion And Depreciation, Ending Balance	710,000	598,000
Net book value, Ending	740,000	176,000
Net book value, Beginning balance	176,000	68,000
Buildings and construction in process [Member]
Statement [Line Items]
Beginning Balance	14,693,000	11,778,000
Additions/ Transfers	678,000	2,907,000
Writendowns	0	0
Effect Of Movements In Exchange Rates	0	8,000
Ending Balance	15,371,000
Accumulated Depletion And Depreciation, Beginning Balance	3,029,000	1,896,000
Accumulated Depletion And Depreciation, Additions / Transfers	204,000	1,133,000
Accumulated Depletion And Depreciation, Writedowns	0	0
Accumulated Depletion And Depreciation, Ending Balance	3,233,000	3,029,000
Net book value, Ending	12,138,000	11,664,000
Net book value, Beginning balance	$ 11,664,000	$ 9,882,000

PLANT EQUIPMENT AND MINING PROPERTIES (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
PLANT EQUIPMENT AND MINING PROPERTIES
Assets Under Construction	$ 3,267	$ 3,817
Property Plant Equipment, Net Carrying Amount	$ 5,553	$ 2,417

RELATED PARTY TRANSACTIONS AND BALANCES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Salaries, Benefits, And Consulting Fees	$ 289	$ 237	$ 869	$ 975
Share-based Payments	502	427	1,472	1,251
Total Key Management Personnel Compensation	$ 791	$ 664	$ 2,341	$ 2,226

RELATED PARTY TRANSACTIONS AND BALANCES (Details 1) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Silver Wolf Exploration Ltd. [Member]
Statement [Line Items]
Total amounts due to related parties	$ (131)	$ (72)
Oniva International Services Corp. [Member]
Statement [Line Items]
Total amounts due to related parties	100	100
Directors [Member]
Statement [Line Items]
Total amounts due to related parties	$ (31)	$ 28

RELATED PARTY TRANSACTIONS AND BALANCES (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement [Line Items]
Salaries And Benefits	$ 289	$ 237	$ 869	$ 975
Office And Miscellaneous	391	261	1,008	855
Oniva International Services Corp. [Member]
Statement [Line Items]
Salaries And Benefits	240	218	729	670
Office And Miscellaneous	107	119	364	325
Total Cost	$ 347	$ 337	$ 1,093	$ 995

RELATED PARTY TRANSACTIONS AND BALANCES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement [Line Items]
Salaries, Benefits, And Consulting Fees	$ 289	$ 237	$ 869	$ 975
Oniva [Member]
Statement [Line Items]
Administrative fees	$ 11	$ 11	36	31
ICC [Member]
Statement [Line Items]
Salaries, Benefits, And Consulting Fees			$ 215	$ 263

NOTE PAYABLE (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
NOTE PAYABLE (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Note Payable At Beginning Of The Period	$ 4,926	$ 0
Additions	0	4,665
Repayments	(5,000)	0
Unwinding Of Fair Value Adjustment	74	261
Note Payable At Ending Of The Period	0	4,926
Less: Current portion	0	(4,926)
Non-current portion	$ 0	$ 0

NOTE PAYABLE (Details Narrative) $ in Millions	9 Months Ended
NOTE PAYABLE (Details Narrative) $ in Millions	Sep. 30, 2023 USD ($)
Discount Interest Rate	6.71%
Promissory Note Payable Issued	$ 5

WARRANT LIABILITY (Details) - Warrants [Member] - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Statement [Line Items]
Balance At Beginning Of The Year	$ 475	$ 741
Warrants Issued	0	2,240
Fair Value Adjustment	(478)	(2,935)
Effect Of Movement In Exchange Rates	3	(111)
Balance At End Of The Year	$ 0	$ 475

WARRANT LIABILITY (Details 1) - Warrants [Member] - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Statement [Line Items]
Outstanding And Exercisable Underlying Shares, Beginning	8,950,412	1,950,412
Warrants Granted, Underlying Share		7,000,000
Warrants Expired, Underlying Share	(8,950,412)
Outstanding And Exercisable Weighted Average Exercise Price, Beginning	$ 1.03	$ 0.80
Warrants Excersied Weighte Average Granted		1.09
Warrants Excersied Weighte Average Expired	1.03
Outstanding And Exercisable Weighted Average Exercise Price, Ending	$ 0	$ 1.03

WARRANT LIABILITY (Details 3) - $ / shares	9 Months Ended	12 Months Ended
WARRANT LIABILITY (Details 3) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Weighted Average Assumptions:
Risk-free Interest Rate	0.00%	4.07%
Expected Dividend Yield	0.00%	0.00%
Expected warrant life (years)		22 days
Expected Stock Price Volatility	0.00%	56.80%
Weighted Average Fair Value	$ 0.00	$ 0.05

WARRANT LIABILITY (Details Narrative)	9 Months Ended	12 Months Ended
WARRANT LIABILITY (Details Narrative)	Sep. 30, 2023	Dec. 31, 2022
Weighted Average Remaining Contractual Life (years)	0 years	8 months 23 days

RECLAMATION PROVISION (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
RECLAMATION PROVISION (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
RECLAMATION PROVISION
Balance At Beginning Of The Year	$ 445	$ 726
Changes In Estimates	0	(364)
Unwinding Of Discount Related To Continuing Operations	36	44
Effect Of Movements In Exchange Rates	63	39
Balance At End Of The Year	$ 544	$ 445

RECLAMATION PROVISION (Details Narrative) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Management's estimate one [Member]
Statement [Line Items]
Risk Free Interest Rate	9.61%	9.65%
Inflation Rate	4.00%	7.82%
Management's Estimate [Member]
Statement [Line Items]
Reclamation Provision	$ 544	$ 445
Reclamation Provision Undiscounted Value	$ 1,663	$ 1,454

SHARE CAPITAL AND SHARE-BASED PAYMENTS (Details) - Stock options [Member] - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Statement [Line Items]
Stock Options Outstanding, Beginning	4,256,000	2,839,000
Granted	2,545,000	2,390,000
Exercised	0	(48,000)
Expired	(105,000)	(880,000)
Cancelled / Forfeited	(30,000)	(45,000)
Stock Options Outstanding, Ending	6,666,000	4,256,000
Stock Options Exercisable	5,328,500	0
Outstanding And Exercisable Weighted Average Exercise Price, Beginning	$ 1.36	$ 1.68
Weighted Average Exercise Price, Granted	1.12	1.20
Weighted Average Exercise Price, Exercised		0.79
Weighted Average Exercise Price, Expired	1.30	1.98
Weighted Average Exercise Price, Cancelled / Forfeited	1.40	1.40
Outstanding And Exercisable Weighted Average Exercise Price, Ending	1.27	1.36
Weighted Average Exercise Price, Stock Options Exercisable	$ 1.31	$ 0.00

SHARE CAPITAL AND SHARE-BASED PAYMENTS (Details 1) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Stock options [Member]
Statement [Line Items]
Stock Options Exercisable	5,328,500	0
Stock Options Outstanding	6,666,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	3 years 1 month 20 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	3 years 3 months 21 days
Stock options [Member] \| August 21, 2024 [Member]
Statement [Line Items]
Expiry Date	Aug. 21, 2024
Stock Options Exercisable	126,000
Exercise Price	$ 0.79
Stock Options Outstanding	126,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	10 months 20 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	10 months 20 days
Stock options [Member] \| August 4, 2025 [Member]
Statement [Line Items]
Expiry Date	Aug. 04, 2025
Stock Options Exercisable	1,660,000
Exercise Price	$ 1.64
Stock Options Outstanding	1,660,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	1 year 10 months 6 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	1 year 10 months 6 days
Stock options [Member] \| March 25, 2027 [Member]
Statement [Line Items]
Expiry Date	Mar. 25, 2027
Stock Options Exercisable	2,330,000
Exercise Price	$ 1.20
Stock Options Outstanding	2,330,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	3 years 5 months 23 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	3 years 5 months 23 days
Stock options [Member] \| March 29, 2028 [Member]
Statement [Line Items]
Expiry Date	Mar. 29, 2028
Stock Options Exercisable	1,187,500
Exercise Price	$ 1.12
Stock Options Outstanding	2,375,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	4 years 6 months
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	4 years 6 months
Stock Option [Member] \| May 4, 2027 [Member]
Statement [Line Items]
Expiry Date	May 04, 2027
Stock Options Exercisable	25,000
Stock Options Outstanding	25,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	3 years 7 months 2 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	3 years 7 months 2 days
Exercise price	$ 0.92
July 10, 2028 [Member] \| Stock options [Member]
Statement [Line Items]
Expiry Date	Jul. 10, 2028
Stock Options Exercisable	0
Exercise Price	$ 1.12
Stock Options Outstanding	150,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	4 years 9 months 10 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	4 years 9 months 10 days

SHARE CAPITAL AND SHARE-BASED PAYMENTS (Details 2) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Statement [Line Items]
Expected option life (years)		22 days
Weighted Average Fair Value	$ 0.00	$ 0.05
Stock options [Member]
Statement [Line Items]
Risk-free Interest Rate	3.10%	2.49%
Expected Dividend Yield	0.00%	0.00%
Expected option life (years)	5 years	5 years
Expected Stock Price Volatility	61.10%	59.98%
Expected Forfeiture Rate	17.00%	20.00%
Weighted Average Fair Value	$ 0.60	$ 0.63

SHARE CAPITAL AND SHARE-BASED PAYMENTS (Details 3) - Restricted Share Units [Member] - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Statement [Line Items]
Stock Options Outstanding, Beginning	2,190,666	1,439,477
Granted	1,878,320	1,799,000
Exercised	(1,005,333)	(982,879)
Cancelled / Forfeited	(15,333)	(64,932)
Stock Options Outstanding, Ending	3,048,320	2,190,666
Outstanding And Exercisable Weighted Average Exercise Price, Beginning	$ 1.27	$ 1.32
Weighted Average Exercise Price, Granted	1.11	1.19
Weighted Average Exercise Price, Exercised	1.37	1.18
Weighted Average Exercise Price, Cancelled / Forfeited	1.14	1.40
Outstanding And Exercisable Weighted Average Exercise Price, Ending	$ 1.03	$ 1.27

SHARE CAPITAL AND SHARE-BASED PAYMENTS (Details 4)	9 Months Ended
SHARE CAPITAL AND SHARE-BASED PAYMENTS (Details 4)	Sep. 30, 2023 $ / shares shares
Restricted Share Units [Member]
Statement [Line Items]
Stock Options Outstanding	3,048,320
Restricted Share Units [Member] \| March 25, 2022 [Member]
Statement [Line Items]
Exercise Price \| $ / shares	$ 1.19
Stock Options Outstanding	1,182,000
Restricted Share Units [Member] \| March 29, 2023 [Member]
Statement [Line Items]
Exercise Price \| $ / shares	$ 1.12
Stock Options Outstanding	1,797,000
Stock options [Member]
Statement [Line Items]
Stock Options Outstanding	6,666,000
Stock options [Member] \| July 10, 2023 [Member]
Statement [Line Items]
Exercise Price \| $ / shares	$ 0.94
Stock Options Outstanding	69,320

SHARE CAPITAL AND SHARE-BASED PAYMENTS (Details 5) - Earning loss Per Share [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement [Line Items]
Net income (loss) for the period	$ (803)	$ (1,129)	$ (21)	$ 1,800
Basic weighted average number of shares outstanding	122,433,272	117,876,825	120,093,760	113,027,305
Effect of dilutive share options, warrants, and RSUs ('000)				3,248,128
Diluted weighted average number of shares outstanding	122,433,272	117,876,825	120,093,760	116,275,433
Basic income (loss) per share	$ (0.01)	$ (0.01)	$ (0.00)	$ 0.02
Diluted income (loss) per share	$ (0.01)	$ (0.01)	$ (0.00)	$ 0.02

SHARE CAPITAL AND SHARE-BASED PAYMENTS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Statement [Line Items]
Common Shares Issued	5,360,300		14,000,000
Gross Proceeds On Cash Commission	$ 99		$ 31
Issuance shares costs	255
Net proceeds from cash commission	$ 3,498
Issuance of fair value			15
Cash commission	2.75%
Proceeds from gross prospectus supplement	$ 3,597
Fair Value Of Stock Options Granted, Share-based Payments	$ 783	$ 504
Restricted Share Units	1,878,320	1,799,000
Weighted Average Fair Value Per Share	$ 1.11	$ 1.11
Share-based Payments for fair value	$ 1,026	$ 870	$ 13,650
Share Capital Three [Member]
Statement [Line Items]
Common shares issued upon exercise of RSUs			982,879
Share capital			$ 899
Share Capital Two [Member]
Statement [Line Items]
Issued common shares upon exercise of RSUs	1,005,333
Common shares issued carrying value of RSUs exercised	$ 1,019
Share Capital [Member]
Statement [Line Items]
Stock option exercise			48,000
Share capital acquisition costs	$ 980		$ 46
Issuance of common shares for service	1,075,000		48,000

REVENUE AND COST OF SALES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
REVENUE AND COST OF SALES
Concentrate Sales	$ 11,599	$ 9,445	$ 31,429	$ 30,423
Provisional Pricing Adjustments	717	(327)	(70)	(885)
Total Revenue	$ 12,316	$ 9,118	$ 31,359	$ 29,538

REVENUE AND COST OF SALES (Details1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
REVENUE AND COST OF SALES
Production costs	$ 9,228	$ 6,544	$ 23,939	$ 17,378
Write down of equipment and materials and supplies inventory	4	0	95	0
Depreciation and depletion	720	514	2,067	1,454
Total cost	$ 9,952	$ 7,058	$ 26,101	$ 18,832

GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Salaries And Benefits	$ 383	$ 326	$ 1,069	$ 1,123
Office And Miscellaneous	391	261	1,008	855
Management And Consulting Fees	109	110	312	345
Investor Relations	49	84	216	234
Travel And Promotion	37	29	130	75
Professional Fees	195	89	898	501
Directors Fees	43	30	132	116
Regulatory And Compliance Fees	35	36	126	116
Depreciation	38	37	108	104
General and administrative expenses	$ 1,280	$ 997	$ 3,999	$ 3,469

COMMITMENTS (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
COMMITMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement [Line Items]
Minimum Rental And Lease Payments	$ 861	$ 850
Later than five years [member]
Statement [Line Items]
Minimum Rental And Lease Payments	362	398
1-5 years [member]
Statement [Line Items]
Minimum Rental And Lease Payments	382	347
Not later than one year [member]
Statement [Line Items]
Minimum Rental And Lease Payments	$ 117	$ 105

COMMITMENTS (Details Narrative) - USD ($) $ in Thousands	9 Months Ended
COMMITMENTS (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Office Lease Payments Recognized As Expense	$ 27	$ 8

SUPPLEMENTARY CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Net change in non-cash working capital items:
Inventory	$ (2,720)	$ (1,986)
Prepaid expenses and other assets	(329)	(535)
Taxes recoverable	(2,075)	28
Taxes payable	(809)	687
Amounts due to related parties	(59)	(79)
Accounts payable and accrued liabilities	2,592	2,101
Amounts receivable	199	552
Net change in non-cash working capital	$ (3,201)	$ 768

SUPPLEMENTARY CASH FLOW INFORMATION (Details 1) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Interest paid	$ 180	$ 73
Taxes paid	29	0
Total Other non-cash supplementary	$ 209	$ 73

SUPPLEMENTARY CASH FLOW INFORMATION (Details 2) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Acquisition of La Preciosa, net of cash &amp;amp; transaction costs	$ 0	$ 21,535
Shares acquired under terms of option agreements	41	15
Transfer of share-based payments reserve upon exercise of RSUs	1,019	0
Transfer of share-based payments reserve upon option exercise	0	15
Equipment acquired under finance leases and equipment loans	2,888	1,589
Non-cash investing and financing activities	$ 3,948	$ 23,174

FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement [Line Items]
Accounts Payable And Accrued Liabilities	$ 11,675	$ 9,469
Equipment Loans	234	$ 0
1-5 years [member]
Statement [Line Items]
Accounts Payable And Accrued Liabilities	0
Minimum rental and lease payments	347
Equipment Loans	248
Finance Lease Obligations	1,878
Total	2,473
More Than 5 Years [Member]
Statement [Line Items]
Accounts Payable And Accrued Liabilities	0
Minimum rental and lease payments	398
Equipment Loans	0
Finance Lease Obligations	0
Total	398
Less Than One Year [Member]
Statement [Line Items]
Accounts Payable And Accrued Liabilities	11,675
Minimum rental and lease payments	105
Equipment Loans	191
Finance Lease Obligations	1,918
Total	13,889
Financial Instruments [Member]
Statement [Line Items]
Accounts Payable And Accrued Liabilities	11,675
Minimum rental and lease payments	850
Equipment Loans	439
Finance Lease Obligations	3,796
Total	$ 16,760

FINANCIAL INSTRUMENTS (Details 1) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement [Line Items]
Long-term Investments	$ 891	$ 1,746
Amounts Receivable	2,473	2,672
Accounts Payable And Accrued Liabilities	11,675	9,469
Due To Related Parties	0	28
MXN [Member]
Statement [Line Items]
Cash	2,451	4,097
Due from related parties	2,310	1,402
Long-term Investments	0	0
Reclamation Bonds	0	0
Amounts Receivable	6,478	0
Accounts Payable And Accrued Liabilities	(93,198)	(85,486)
Due To Related Parties	0	0
Finance Lease Obligations	(598)	(161)
Net Exposure	(82,557)	(80,148)
Us Dollar Equivalent	468	(4,136)
CDN [Member]
Statement [Line Items]
Cash	113	250
Due from related parties	0	0
Long-term Investments	1,204	2,365
Reclamation Bonds	6	4
Amounts Receivable	56	34
Accounts Payable And Accrued Liabilities	(346)	(108)
Due To Related Parties	(135)	(135)
Finance Lease Obligations	(256)	(343)
Net Exposure	642	2,067
Us Dollar Equivalent	$ (43)	$ 1,526

FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement [Line Items]
Amounts Receivable	$ 2,473	$ 2,672
Long-term Investments	891	$ 1,746
Level 1 of fair value hierarchy [member]
Statement [Line Items]
Cash	1,856
Amounts Receivable	0
Long-term Investments	891
Total Financial Assets	2,747
Level 2 of fair value hierarchy [member]
Statement [Line Items]
Cash	0
Amounts Receivable	2,473
Long-term Investments	0
Total Financial Assets	2,473
Level 3 of fair value hierarchy [member]
Statement [Line Items]
Cash	0
Amounts Receivable	0
Long-term Investments	0
Total Financial Assets	$ 0

FINANCIAL INSTRUMENTS (Details Narrative) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Statement [Line Items]
Cash	$ 1,856	$ 11,245
Interest Rate Risk [Member]
Statement [Line Items]
Asset And Liability Exposure, Description	A 10% change in the interest rate would not result in a material impact on the Company’s operations.
Liquidity Risk [Member]
Statement [Line Items]
Cash	$ 1,856
Working Capital	7,445
Foreign Currency Risk [Member]
Statement [Line Items]
Impact On Net Earning (loss)	425	275
Price Risk [Member]
Statement [Line Items]
Impact On Net Earning (loss)	58	65
Price Risk [Member] \| Long-term investments [Member]
Statement [Line Items]
Impact On Net Earning (loss)	$ 87	$ 175

SEGMENTED INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
SEGMENTED INFORMATION (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Silver	$ 4,280	$ 3,454	$ 11,610	$ 10,722
Copper	5,907	5,625	14,658	17,884
Gold	3,669	2,310	9,516	7,141
Penalties, Treatment Costs And Refining Charges	(1,540)	(2,271)	(4,425)	(6,209)
Total Revenue From Mining Operations	$ 12,316	$ 9,118	$ 31,359	$ 29,538

SEGMENTED INFORMATION (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
SEGMENTED INFORMATION (Details 1) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Customer 1	$ 9,101	$ 7,710	$ 26,209	$ 25,569
Customer 2	3,220	1,415	5,246	3,161
Other Customer	(5)	(7)	(96)	808
Total Revenue From Mining Operations	$ 12,316	$ 9,118	$ 31,359	$ 29,538

SEGMENTED INFORMATION (Details 2) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Exploration And Evaluation Assets - Mexico	$ 50,450	$ 49,803
Exploration And Evaluation Assets - Canada	1	1
Total Exploration And Evaluation Assets	$ 50,451	$ 49,804

SEGMENTED INFORMATION (Details 3) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Plant, Equipment And Mining Properties - Mexico	$ 50,843	$ 43,812
Plant, Equipment And Mining Properties - Canada	196	244
Total Plant, Equipment And Mining Properties	$ 51,039	$ 44,056

SUBSEQUENT EVENTS (Details Narrative) - Market Offerings [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) shares
Statement [Line Items]
Issued of common shares at market sale \| shares	1,091,425
Proceeds from market sales under prospectus supplement \| $	$ 556