Avino Silver & Gold Mines (ASM) 40-F 29 Mar 24 2023 FY Annual report (Canada) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2023 shares
Document Information Line Items
Entity Registrant Name	Avino Silver & Gold Mines Ltd.
Entity Central Index Key	0000316888
Document Type	40-F
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding	128,728,248
Document Annual Report	true
Entity File Number	001-35254
Entity Incorporation State Country Code	Z4
Entity Address Address Line 1	Suite 900
Entity Address Address Line 2	570 Granville Street
Entity Address Address Line 3	Vancouver
Entity Address City Or Town	British Columbia
Entity Address Country	CA
Entity Address Postal Zip Code	V6C 3P1
City Area Code	604
Icfr Auditor Attestation Flag	true
Auditor Name	Deloitte LLP
Auditor Location	Vancouver, Canada
Auditor Firm Id	1208
Local Phone Number	682-3701
Security 12b Title	Common Shares, without Par Value
Trading Symbol	ASM
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Document Registration Statement	false
Annual Information Form	true
Audited Annual Financial Statements	true
Business Contact [Member]
Document Information Line Items
Entity Address Address Line 1	1015 15th Street, N.W
Entity Address Address Line 2	Suite 1000
Entity Address City Or Town	Washington
Entity Address State Or Province	DC
Entity Address Postal Zip Code	20005
City Area Code	202
Local Phone Number	572-3133
Contact Personnel Name	National Registered Agents, Inc.

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash	$ 2,688	$ 11,245
Amounts receivable	3,303	2,672
Amounts due from related parties	167	0
Taxes recoverable	6,580	3,737
Prepaid expenses and other assets	1,971	1,671
Inventory	8,826	6,260
Total current assets	23,535	25,585
Exploration and evaluation assets	50,111	49,804
Plant, equipment and mining properties	53,069	44,056
Long-term investments	934	1,746
Other assets	691	5
Total assets	128,340	121,196
Current liabilities
Accounts payable and accrued liabilities	11,867	9,469
Amounts due to related parties	0	28
Taxes payable	127	895
Note payable	0	4,926
Warrant liability	0	475
Current portion of finance lease obligations	1,650	971
Current portion of equipment loans	164	0
Total current liabilities	13,808	16,764
Finance lease obligations	1,445	745
Equipment loans	195	0
Reclamation provision	2,195	445
Deferred income tax liabilities	4,696	5,221
Total liabilities	22,339	23,175
EQUITY
Share capital	151,688	145,515
Equity reserves	11,041	9,852
Treasury shares	(97)	(97)
Accumulated other comprehensive loss	(5,208)	(5,223)
Accumulated deficit	(51,423)	(52,026)
Total equity	106,001	98,021
Total liabilities and equity	$ 128,340	$ 121,196

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Consolidated Statements of Operations and Comprehensive Income (Loss)
Revenue from mining operations	$ 43,889	$ 44,187
Cost of sales	36,070	29,125
Mine operating income	7,819	15,062
Operating expenses
General and administrative expenses	5,620	5,156
Share-based payments	2,269	2,024
Income (loss) before other items	(70)	7,882
Other items
Interest and other income	414	20
Loss on long-term investments	(931)	(2,103)
Fair value adjustment on warrant liability	478	2,395
Foreign exchange gain (loss)	110	(17)
Project evaluation expenses	0	(81)
Finance cost	(81)	(273)
Accretion of reclamation provision	(49)	(44)
Interest expense	(381)	(99)
Income (loss) before income taxes	(510)	7,680
Income taxes:
Current income tax recovery (expense)	527	(1,144)
Deferred income tax recovery (expense)	525	(3,440)
Income tax recovery (expense)	1,052	(4,584)
Net income	542	3,096
Other comprehensive income (loss)
Currency translation differences	15	(254)
Total comprehensive income	$ 557	$ 2,842
Earnings per share
Earnings per share- Basic	$ 0	$ 0.03
Earnings per share- Diluted	$ 0	$ 0.03
Weighted average number of common shares outstanding
Basic	121,261,696	114,372,371
Diluted	125,346,674	117,615,898

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Number of Common Shares	Shares Capital Amount	Accumulated other comprehensive loss	Retained Earnings (Accumulated Deficit)	Treasury Shares	Equity Reserves
Balance, shares at Dec. 31, 2021		102,243,211
Balance, amount at Dec. 31, 2021	$ 78,507		$ 129,953	$ (4,969)	$ (55,953)	$ (97)	$ 9,573
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	0	0	0	(15)
Issuance costs	(13)		(13)	0	0	0	0
Share-based payments	2,024		0	0	0	0	2,024
Net income for the year	3,096		0	0	3,096	0	0
Options cancelled or expired	0		0	0	831	0	(831)
Carrying value of exercise of RSUs, shares		982,879
Carrying value of exercise of RSUs, amount	0		899	0	0	0	(899)
Currency translation differences	(254)		0	(254)	0	0	0
Balance, shares at Dec. 31, 2022		118,349,090
Balance, amount at Dec. 31, 2022	98,021		145,515	(5,223)	(52,026)	(97)	9,852
Statement [Line Items]
Issuance costs	(494)		(494)	0	0	0	0
Share-based payments	2,269		0	0	0	0	2,269
Net income for the year	542		0	0	542	0	0
Options cancelled or expired	0		0	0	61	0	(61)
Currency translation differences	15		0	15	0	0	0
Common shares issued At the market issuances, Shares		9,373,825
Common shares issued At the market issuances, amount	5,648		5,648	0	0	0	0
Carrying value of RSUs exercised, shares		1,005,333
Carrying value of RSUs exercised, amount	$ 0		1,019	0	0	0	(1,019)
Balance, shares at Dec. 31, 2023	1,886,248	128,728,248
Balance, amount at Dec. 31, 2023	$ 106,001		$ 151,688	$ (5,208)	$ (51,423)	$ (97)	$ 11,041

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating Activities
Net income	$ 542	$ 3,096
Adjustments for non-cash items:
Deferred income tax expense (recovery)	(525)	3,440
Depreciation and depletion	2,919	2,186
Accretion of reclamation provision	49	44
Loss on investments	931	2,103
Unrealized foreign exchange (gain) loss	54	(303)
Unwinding of fair value adjustment	74	262
Fair value adjustment on warrant liability	(478)	(2,395)
Write down of equipment and materials and supplies inventory	414	330
Share-based payments	2,269	2,024
Total Adjustments For Non Cash	6,249	10,787
Net change in non-cash working capital items	(4,761)	1,044
Cash provided by operating activities	1,488	11,831
Financing Activities
Shares and units issued for cash, net of issuance costs	5,154	30
Lease liability payments	(1,444)	(1,179)
Equipment loan payments	(222)	0
Cash provided by (used in) financing activities	3,488	(1,149)
Investing Activities
Exploration and evaluation expenditures	(1,156)	(1,131)
Additions to plant, equipment and mining properties	(7,375)	(7,836)
Acquisition of La Preciosa	(5,000)	(15,134)
Cash provided by (used in) investing activities	(13,531)	(24,101)
Change in cash	(8,555)	(13,419)
Effect of exchange rate changes on cash	(2)	(101)
Cash, beginning	11,245	24,765
Cash, ending	$ 2,688	$ 11,245

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2023
NATURE OF OPERATIONS	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 (except for the province of Quebec) 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 Elena Tolosa Mine (“ET Mine” or “Avino Mine”) which produces copper, silver and gold at the historic Avino property in the state of Durango, Mexico. The Avino property also hosts the San Gonzalo Mine, which is currently on care and maintenance. The Company also holds 100% interest in Proyectos Mineros La Preciosa S.A. de C.V. (“La Preciosa”), a Mexican corporation which owns the La Preciosa Property. The Company also owns interests in mineral properties located in British Columbia and Yukon, Canada.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2023
BASIS OF PRESENTATION	2. BASIS OF PRESENTATION Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). Basis of Presentation These consolidated 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 consolidated financial statements have been prepared using the accrual basis of accounting on a going concern basis. The accounting policies set out below have been applied consistently to all periods presented in these consolidated financial statements as if the policies have always been in effect. Foreign Currency Translation Foreign currency transactions Transactions in currencies other than the functional currency are recorded at the rates of exchange prevailing on the dates of the transactions. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at the date of the statement of financial position. Non-monetary items that are measured in terms of historical cost in a foreign currency are not re-translated. Foreign operations Subsidiaries that have functional currencies other than the US dollar translate their statement of operations items at the average rate during the year. Assets and liabilities are translated at exchange rates prevailing at the end of each reporting period. Exchange rate variations resulting from the retranslation at the closing rate of the net investment in these subsidiaries, together with differences between their statement of operations items translated at actual and average rates, are recognized in accumulated other comprehensive income (loss). On disposition or partial disposition of a foreign operation, the cumulative amount of related exchange difference is recognized in the statement of operations. Significant 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 consolidated 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. a) Critical judgments exercised by management in applying accounting policies that have the most significant effect on the amounts presented in these consolidated financial statements are as follows: I. Economic recoverability and probability of future economic benefits from exploration and evaluation costs Management has determined that mine and camp, exploratory drilling, and other exploration and evaluation-related costs that were capitalized have future economic benefits and are economically recoverable. Management uses several criteria in its assessments of economic recoverability and probability of future economic benefits including geologic and metallurgic information, scoping studies, accessible facilities, existing permits, and mine plans. ii. Commencement of production at levels intended by management Prior to reaching production levels intended by management, costs incurred are capitalized as part of the costs of related exploration and evaluation assets, or as part of the related mine or mill. Depletion of capitalized costs for mining properties and depreciation of plant and equipment begin when operating levels intended by management have been reached. Management considers several factors in determining when a mining property has reached the intended production levels, including production capacity, recoveries, and number of uninterrupted production days. The basis for achievement of production levels intended by management as indicated by technical feasibility and commercial viability is generally established with proven reserves based on a NI 43-101-compliant technical report or a comparable resource statement and feasibility study, combined with pre-production operating statistics and other factors. In cases where the Company does not have a 43-101-compliant reserve report, on which to base a production decision, the technical feasibility and commercial viability of extracting a mineral resource are considered in light of additional factors including but not limited to: · Acquisition and installation of all critical capital components to achieve desired mining and processing results has been completed. Capital components have been acquired directly and are also available on an as-needed basis from the underground mining contractor; · The necessary labour force, including mining contractors, has been secured to mine and process at planned levels of output; · The mill has consistently processed at levels at or above design capacity and budgeted production levels with consistent recoveries and grades; and, · Establishing sales agreements with respect to the sale of concentrates. When technical feasibility and commercial viability are considered demonstrable according to the above criteria and other factors, the Company performs an impairment assessment and records an impairment loss, if any, before reclassifying exploration and evaluation costs to plant, equipment, and mining properties. iii. Functional currency The functional currency for the Company and its subsidiaries is the currency of the primary economic environment, in which the entity operates. The Company has determined the functional currency of the Company to be the Canadian dollar. The Company has determined the functional currency of its Mexican subsidiaries to be the US dollar. Determination of functional currency may involve certain judgments to determine the primary economic environment. The Company reconsiders the functional currency of its entities, if there is a change in events and conditions, which determine the primary economic environment. b) Significant assumptions about the future and other sources of estimation uncertainty that management has made at the consolidated statement of financial position date that could result in a material adjustment to the carrying amounts of assets and liabilities in the event that actual results differ from assumptions made relate to, but are not limited to, the following: i. Stockpile and concentrate inventory valuations Concentrate and stockpile mineralized material are valued at the lower of average cost or net realizable value. The assumptions used in the valuation of concentrate and stockpile mineralized material include estimates of copper, silver, and gold contained in the stockpiles and finished goods assumptions for the amount of copper, silver, and gold that is expected to be recovered from the concentrate. If these estimates or assumptions prove to be inaccurate, the Company could be required to write down the recorded value of its concentrate and stockpile mineralized material inventory, which would result in an increase in the Company’s expenses and a reduction in its working capital. ii. Estimated reclamation provisions The Company’s provision for reclamation represents management’s best estimate of the present value of the future cash outflows required to settle estimated reclamation and closure costs at the Avino and San Gonzalo properties. The provision reflects estimates of future costs, inflation, foreign exchange rates and assumptions of risks associated with the future cash outflows, and the applicable risk-free interest rates for discounting the future cash outflows. Changes in the above factors could result in a change to the provision recognized by the Company. Changes to reclamation and closure cost obligations are recorded with a corresponding change to the carrying amounts of the related exploration and evaluation assets or mining properties. Adjustments to the carrying amounts of related mining properties result in a change to future depletion expense. iii. Valuation of share-based payments and warrants The Company uses the Black-Scholes Option Pricing Model for valuation of share-based payments and warrants. Option pricing models require the input of subjective assumptions including expected price volatility, interest rate, and forfeiture rate. Changes in the input assumptions can materially affect fair value estimates and the Company’s net income or loss and its equity reserves. Warrant liabilities are accounting for as derivate liabilities (see Note 16). iv. Impairment of plant, equipment and mining properties, and exploration and evaluation assets Management considers both external and internal sources of information in assessing whether there are any indications that the Company’s plant, equipment, and mining properties, and exploration and evaluation assets are impaired. External sources of information management considers include changes in the market, economic and legal environments, in which the Company operates, that are not within its control and that affect the recoverable amount of its plant, equipment, and mining properties. Internal sources of information that management considers include the manner in which mining properties and plant and equipment are being used, or are expected to be used, and indications of economic performance of the assets. In determining the recoverable amounts of the Company’s plant, equipment and mining properties, management makes estimates of the undiscounted future pre-tax cash flows expected to be derived from the Company’s mining properties, and the appropriate discount rate. Reductions in metal price forecasts, increases in estimated future costs of production, increases in estimated future non expansionary capital expenditures, reductions in the amount of recoverable resources and exploration potential, and adverse current economic conditions are examples of factors that could result in a write down of the carrying amounts of the Company’s plant, equipment and mining properties, and exploration and evaluation assets. Impairment There is significant judgment involved in assessing whether any indications of impairment exist for plant, equipment and mineral properties, with consideration given to both external and internal sources of information. Information the Company considers include changes in the technological market, economic and legal environment in which the Company operates that are not within its control that affect the recoverable amount of mineral properties. Internal sources of information include the manner in which mineral property, plant and equipment are being used or are expected to be used and indications of the economic performance of the assets. Changes in metal price forecasts, changes in discount rates, increases or decreases in estimated future costs of production, increases or decreases in estimated future capital costs, reductions or increases in the amount of recoverable mineral resources and/or adverse or favorable current economics can result in a write-down or write-up of the carrying amounts of the Company’s mining interests. Based on the Company’s assessment with respect to possible indicators of impairment of its mineral properties, including the prevailing market metals prices, the Company concluded that as of December 31, 2023, an impairment indicator was identified, as the Company’s net asset value exceeded its market capitalization at December 31, 2023. As such, management determined that a detailed impairment evaluation as at December 31, 2023 for the ET Mine CGU, including the La Preciosa property. The Company determined that the fair value less costs of disposal exceeded the carrying value of the CGU, accordingly no impairment was recorded for the year ended December 31, 2023. There were no indicators of impairment identified as of December 31, 2022, on any of the Company’s CGUs. v. Depreciation rate for plant and equipment and depletion rate for mining properties Depreciation and depletion expenses are allocated based on estimates for useful lives of assets. Should the asset life, depletion rates, or depreciation rates differ from the initial estimate, the revised life or rate would be reflected prospectively through income or loss. A change in the mineral resource estimate may impact depletion expense on a prospective basis. vi. Recognition and measurement of deferred tax assets and liabilities Actual amounts of income tax expense are not final until tax returns are filed and accepted by the relevant authorities. This occurs subsequent to the issuance of the consolidated financial statements . Therefore, tax assets and liabilities and net income in subsequent periods will be affected by the amount that estimates differ from the final tax return. Estimates of future taxable income are based on forecasted cash flows from operations and the application of existing tax laws in each jurisdiction. Forecasted cash flows from operations are based on projections internally developed and reviewed by management. Weight is attached to tax planning opportunities that are within the Company’s control, and are feasible and implementable without significant obstacles. The likelihood that tax positions taken will be sustained upon examination by applicable tax authorities is assessed based on individual facts and circumstances of the relevant tax position evaluated in light of all available evidence. Where applicable tax laws and regulations are either unclear or subject to ongoing varying interpretations, it is reasonably possible that changes in these estimates can occur that could materially affect the amounts of deferred tax assets and liabilities. Basis of Consolidation The audited consolidated 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 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 audited consolidated financial statements.

MATERIAL ACCOUNTING POLICIES

MATERIAL ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
MATERIAL ACCOUNTING POLICIES	3. MATERIAL ACCOUNTING POLICIES Exploration and evaluation assets and development costs (i) Exploration and evaluation expenditures AVINO SILVER & GOLD MINES LTD. Notes to the consolidated financial statements For the years ended December 31, 2023 and 2022 (Expressed in thousands of US dollars, except where otherwise noted) The Company capitalizes all costs relating to the acquisition, exploration and evaluation of mineral claims. Expenditures incurred before the Company has obtained the legal rights to explore a specific area are expensed. The Company’s capitalized exploration and evaluation costs are classified as intangible assets. Such costs include, but are not limited to, certain camp costs, geophysical studies, exploratory drilling, geological and sampling expenditures, and depreciation of plant and equipment during the exploration stage. Costs not directly attributable to exploration and evaluation activities, including general administrative overhead costs, are expensed in the period in which they occur. Proceeds from the sale of mineral products or farm outs during the exploration and evaluation stage are deducted from the related capitalized costs. The carrying values of capitalized amounts are reviewed annually, or when indicators of impairment are present. In the case of undeveloped properties, there may be only inferred resources to allow management to form a basis for the impairment review. The review is based on the Company’s intentions for the development of such properties. If a mineral property does not prove to be viable, all unrecoverable costs associated with the property are charged to the consolidated statement of comprehensive income (loss) at the time the determination is made. When the technical feasibility and commercial viability of extracting mineral resources have been demonstrated, exploration and evaluation costs are assessed for impairment, reclassified to mining properties and become subject to depletion. Management considers the technical feasibility and commercial viability of extracting a mineral resource to be demonstrable upon the completion of a positive feasibility study and the establishment of mineral reserves. For certain mineral projects, management may determine the completion of a feasibility study to be cost prohibitive, unnecessary or to present undue risk to the structural integrity of the ore body. Under such circumstances, management considers technical feasibility to be demonstrable when the Company has obtained the necessary environmental and mining permits, land surface and mineral access rights, and the mineral project can be physically constructed and operated in a technically sound manner to produce a saleable mineral product. In assessing whether commercial viability is demonstrable, management considers if its internal economic assessment indicates that the mineral project can be mined to generate a reasonable return on investment for the risk undertaken, and markets or long-term contracts for the product exist. (ii) Development expenditures Mine development costs are capitalized until the mineral property is capable of operating in the manner intended by management. The Company evaluates the following factors in determining whether a mining property is capable of operating in the manner intended by management: · The completion and assessment of a reasonable commissioning period of the mill and mining facilities; · Consistent operating results are achieved during the test period; · Existence of clear indicators that operating levels intended by management will be sustainable for the foreseeable future; · Plant / mill has reached a pre-determined percentage of design capacity; · Adequate funding is available and can be allocated to the operating activities; and, · Long term sales arrangements have been secured. The carrying values of capitalized development costs are reviewed annually, or when indicators are present, for impairment. Plant, equipment and mining properties Upon demonstrating the technical feasibility and commercial viability of extracting mineral resources, all expenditures incurred to that date for the mine are reclassified to mining properties. Expenditures capitalized to mining properties include all costs related to obtaining or expanding access to resources including extensions of the haulage ramp and installation of underground infrastructure, and the estimated reclamation provision. Expenditures incurred with respect to a mining property are capitalized when it is probable that additional future economic benefits will flow to the Company. Otherwise, such expenditures are classified as a cost of sales. Plant and equipment are recorded at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs include expenditures that are directly attributable to bringing the asset to a location and condition necessary to operate in a manner intended by management. Such costs are accumulated as construction in progress until the asset is available for use, at which point the asset is classified as plant, equipment and mining properties and depreciation commences. After the date that management’s intended production levels have been achieved, mining properties are depleted using the straight-line method over the estimated remaining life of the mine. The Company estimates the remaining life of its producing mineral properties on an annual basis using a combination of quantitative and qualitative factors including historical results, mineral resource estimates, and management’s intent to operate the property. Such estimation is a subjective process and the accuracy of any mineral resource estimate is a function of the quantity and quality of available data and of the assumptions made and judgments used in engineering and geological interpretation. Differences between management’s assumptions including economic assumptions such as metal prices, discount rate and market conditions could have a material effect in the future on the Company’s financial position, results of operation and cash flows The Company does not have sufficient reserve information to form a basis for the application of the units-of-production method for depreciation and depletion. As at December 31, 2023 and 2022, the Company estimated a remaining mine life for the Avino Mine of 19 and 20 years, respectively. Upon the acquisition of an asset or a group of assets and liabilities that does not constitute a business, the Company identifies and recognizes the individual identifiable assets acquired and liabilities assumed. The cost of the group is allocated to the individual identifiable assets and liabilities on the basis of their relative fair values at the date of purchase. Such a transaction or event does not give rise to goodwill. Transaction costs related to the acquisition is capitalized as part of cost of assets acquired. Accumulated mill, machinery, plant facilities, and certain equipment are depreciated using the straight-line method over their estimated useful lives, not to exceed the life of the mine for any assets that are inseparable from the mine. When parts of an item of plant and equipment have different useful lives, they are accounted for as separate items (or components) of plant and equipment. Plant and equipment are depreciated using the following annual rates and methods: Office equipment, furniture, and fixtures 5 years straight line balance Computer equipment 3 years straight line balance Mine machinery and transportation equipment 5 years straight line balance Mill machinery and processing equipment 5 - 20 years straight line Buildings 5 - 20 years straight line Impairment At each financial position reporting date, the carrying amounts of the Company’s non-financial or long-lived assets are reviewed to determine whether there is any indication that those assets are impaired. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. Where the asset does not generate cash flows that are independent from other assets, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An asset’s recoverable amount is the higher of fair value less costs to sell and value in use. Fair value is determined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset or cash generating unit is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in profit or loss for the period. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, provided the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss. Leases The Company assesses whether a contract is, or contains, a lease, at inception of the contract. The Company recognizes a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets (such as tablets and personal computers, small items of office furniture and telephones). For these leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Company uses its incremental borrowing rate. The incremental borrowing rate depends on the term, currency and start date of the lease and is determined based on a series of inputs including: the risk-free rate based on government bond rates; a country-specific risk adjustment; a credit risk adjustment based on bond yields; and an entity-specific adjustment when the risk profile of the entity that enters into the lease is different to that of the Company and the lease does not benefit from a guarantee from the Company. Lease payments included in the measurement of the lease liability comprise: · Fixed lease payments (including in-substance fixed payments), less any lease incentives receivable · Variable lease payments that depend on an index or rate, initially measured using the index or rate at the commencement date · The amount expected to be payable by the lessee under residual value guarantees · The exercise price of purchase options, if the lessee is reasonably certain to exercise the options · Payments of penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease The lease liability is presented as a separate line in the consolidated statement of financial position. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. The Company remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever: · The lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate · The lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which cases the lease liability is remeasured by discounting the revised lease payments using an unchanged discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used) · A lease contract is modified and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day, less any lease incentives received and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses. Right-of-use assets are depreciated over the shorter period of lease term and useful life of the right-of-use asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the Company expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease. The Company applies IAS 36 to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss as described in the ‘Plant, Equipment and Mining Properties’ policy. Inventory Material extracted from the Company's mine is classified as either process material or waste. Process material represents mineralized material that, at the time of extraction, the Company expects to process into a saleable form and sell at a profit, while waste is considered uneconomic to process and its extraction cost is included in direct mining costs. Raw materials are comprised of process material stockpiles. Process material is accumulated in stockpiles that are subsequently processed into bulk copper, silver, and gold concentrate in a saleable form. The Company has bulk copper, silver, and gold concentrate inventory in saleable form that has not yet been sold. Mine operating supplies represent commodity consumables and other raw materials used in the production process, as well as spare parts and other maintenance supplies that are not classified as capital items. Inventories are valued at the lower of cost and net realizable value (“NRV”). Cost is determined on a weighted average basis and includes all costs incurred, based on normal production capacity, in bringing each product to its present location and condition. Cost of inventories comprises direct labor, materials and contractor expenses, depletion and depreciation on mining properties, plant and equipment, and an allocation of mine site costs. As mineralized material is removed for processing, costs are removed based on the average cost per tonne in the stockpile. Stockpiled process material tonnages are verified by periodic surveys. NRV of mineralized material is determined with reference to relevant market prices less the estimated costs of completion and the estimated costs necessary to make the sale. NRV of materials and supplies is generally calculated by reference to salvage or scrap values when it is determined that the supplies are obsolete. NRV provisions are recorded within cost of sales in the consolidated statement of operations, and are reversed to reflect subsequent recoveries where the inventory is still on hand. Revenue from Contracts with Customers Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue and costs to sell can be reliably measured. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, and other sales tax or duty. Performance Obligations Based on the criteria outlined in IFRS 15, the Company applied judgment in determining that the primary performance obligation relating to its sales contracts is the delivery of concentrates. Shipping and insurance services arranged by the Company for concentrate sales that occur after the transfer of control are also considered performance obligations. Transfer of Control Based on the criteria outlined in IFRS 15, the Company applied judgment in determining when the transfer of control occurs. Management based its assessment on a number of indicators of control, which include but are not limited to, whether the Company has the present right of payment and whether the physical possession of the goods, significant risks and rewards, and legal title have been transferred to the customer. Provisional Pricing Based on the criteria outlined in IFRS 15, the Company applied significant judgment in determining variable consideration. The Company identified a provisional pricing component in concentrate sales, representing variable consideration in the form of adjustments between original and final assay results relating to the quantity and quality of concentrate shipments. Pricing adjustments between provisional and final invoicing based on market prices for base and precious metals are included in revenues until final settlement. Based on the Company’s historical accuracy in the assay process, as evidenced by the negligible historical adjustments relating to assay differences, the Company concluded the variability in consideration caused by the assaying results is negligible. The Company does not expect a significant amount of reversal related to assaying differences. The Company records revenues based on provisional invoices based on quoted market prices of the London Bullion Market Association and the London Metal Exchange during the quotation period outlined in the concentrate sales agreement. The Company applied judgment to determine the amount of variable consideration to be recognized during the period for which the likelihood of significant reversal is low. Financial Instruments Measurement – initial recognition All financial assets and financial liabilities are initially recorded on the Company’s consolidated statement of financial position when the Company becomes a party to the contractual provisions of the instrument. All financial asset and liabilities are initially recorded at fair value, net of attributable transaction costs, except for those classified as fair value through profit or loss (“FVTPL”). Subsequent measurement of financial assets and financial liabilities depends on the classifications of such assets and liabilities. Classification – financial assets Amortized cost: Financial assets that are held within a business model whose objective is to hold financial assets in order to collect contractual cash flows, and that the contractual terms of the financial assets give rise on specified date to cash flows that are solely payments of principal and interest on the principal amount outstanding, are measured subsequent to initial recognition at amortized cost. The amortized cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. Interest income is recognized using the effect interest method, and is recognized in Interest and other income, on the consolidated statements of operations and comprehensive income (loss) The Company financial assets at amortized costs include amounts receivable not related to sales of concentrate (including due from related parties), investments (short-term), and reclamation bonds. Fair value through other comprehensive income (“FVTOCI”) Financial assets that are held within a business model whose objective is to hold financial assets in order to both collect contractual cash flows and selling financial assets, and that the contractual terms of the financial assets give rise on specified date to cash flows that are solely payments of principal and interest on the principal amount outstanding. Upon initial recognition of equity securities, the Company may make an irrevocable election (on an instrument-by-instrument basis) to designate its equity securities that would otherwise be measured at FVTPL to present subsequent changes in fair value in other comprehensive income. Designation at FVTOCI is not permitted if the equity investment is held for trading or if it is contingent consideration recognized by an acquirer in a business combination. Investments in equity instruments at FVTOCI are initially measured at fair value plus transaction costs. Subsequently, they are measured at fair value with gains and losses arising from changes in fair value recognized in other OCI. The cumulative gain or loss is not reclassified to profit or loss on disposal of the instrument; instead, it is transferred to retained earnings. The Company currently has no financial assets designated as FVTOCI. Fair value through profit or loss (“FVTPL”) By default, all other financial assets are measured subsequently at FVTPL, which includes cash, long-term investments, and amounts receivable from concentrate sales. Classification – financial liabilities Financial liabilities that are not contingent consideration of an acquirer in a business combination, held for trading or designated as at FVTPL, are measured at amortized cost using the effective interest method. Financial liabilities at amortized cost include accounts payable, and amounts due to related parties. Financial liabilities classified FVTPL include financial liabilities held for trading and financial liabilities designated upon initial recognition as FVTPL. Fair value changes on financial liabilities classified as FVTPL are recognized in the consolidated statements of operations. The Company has classified share purchase warrants with an exercise price in US dollars (see Note 14) as financial liabilities at FVTPL. As these warrants are exercised, the fair value of the recorded warrant liability on date of exercise is included in share capital along with the proceeds from the exercise. If these warrants expire, the related decrease in warrant liability is recognized in the consolidated statements of operations and comprehensive income (loss). The Company has no hedging arrangements and does not apply hedge accounting. Impairment The Company recognizes a loss allowance for expected credit losses on its financial assets when necessary. The amount of expected credit losses is updated at each reporting period to reflect changes in credit risk since initial recognition of the respective financial instruments. Share capital a) Common shares Common shares are classified as equity. Transaction costs directly attributable to the issuance of common shares and equity warrants are recognized as a deduction from equity, net of any tax effects. Transaction costs directly attributable to derivative warrants are charged to operations as a finance cost. b) Repurchase of share capital (treasury shares) When share capital recognized as equity is repurchased, the amount of the consideration paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares and are presented as a deduction from total equity. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the resulting surplus or deficit on the transaction is transferred to accumulated deficit. Share-based payment transactions The Company’s share option plan and restricted share unit (“RSU”) plan allows directors, officers, employees, and consultants to acquire common shares of the Company. The fair value of options granted is measured at fair value at the grant date based on the market value of the Company’s common shares on that date. The fair value of equity-settled RSUs is measured at the grant date based on the market value of the Company’s common shares on that date, and each tranche is recognized using the graded vesting method over the period during which the RSUs vest. At each financial position reporting date, the amount recognized as an expense is adjusted to reflect the actual number of RSUs that are expected to vest. All options and RSUs are recognized in the consolidated statements of operations and comprehensive income (loss) as an expense over the vesting period with a corresponding increase in equity reserves in the consolidated statements of financial position. Reclamation and other provisions Provisions are recognized where a legal or constructive obligation has been incurred as a result of past events, it is probable that an outflow of resources embodying economic benefit will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made. If material, provisions are measured at the present value of the expenditures expected to be required to settle the obligation. The increase in any provision due to the passage of time is recognized as accretion expense. The Company records the present value of estimated costs of legal and constructive obligations required to restore properties in the period in which the obligation is incurred. The nature of these restoration activities includes dismantling and removing structures, rehabilitating mines and restoration, reclamation, and re-vegetation of affected areas. The fair value of the liability for a rehabilitation provision is recorded when it is incurred. When the liability is initially recognized, the present value of the estimated cost is capitalized by increasing the carrying amount of the related mining property or exploration and evaluation asset. Over time, the discounted liability is increased for the change in present value based on the discount rates that reflect current market assessments and the risks specific to the liability, which is accreted over time through periodic charges to income or loss. A revision in estimates or new disturbance will result in an adjustment to the provision with an offsetting adjustment to the mineral property or the exploration and evaluation asset. Additional disturbances, changes in costs, or changes in assumptions are recognized as adjustments to the corresponding assets and reclamation liabilities when they occur. Earnings per share The Company presents basic and diluted earnings per share data for its common shares, calculated by dividing the earnings attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the year. Diluted earnings per share is determined by adjusting the earnings attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all potentially dilutive common shares. Income taxes Income taxes in the years presented are comprised of current and deferred tax. Income tax is recognized in profit or loss except to the extent that it relates to items recognized directly in equity, in which case it is recognized as equity. Deferred tax is recognized using the statement of financial position asset and liability method, which provides for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The amount of deferred tax recognized is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the consolidated statement of financial position date. A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets and liabilities are not recognized if the temporary differences arise from the initial recognition of goodwill or an asset or liability in a transaction other than a business combination that affects neither accounting profit nor taxable profit.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Dec. 31, 2023
RECENT ACCOUNTING PRONOUNCEMENTS	4. 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 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. 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 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 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 consolidated financial statements. Future Changes in Accounting Policies Not Yet Effective as at December 31, 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 – C lassification 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 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 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.

ACQUISITION OF LA PRECIOSA

ACQUISITION OF LA PRECIOSA	12 Months Ended
	Dec. 31, 2023
ACQUISITION OF LA PRECIOSA	5. 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. As at December 31, 2023, no such contractual obligation to deliver cash has arisen and thus no liability is recorded for the contingent payments. 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. 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 Common shares of $14,630 above includes $980 attributed to the value of 1,075,000 common shares issued for advisory services as part of the completion of the acquisition.

TAXES RECOVERABLE

TAXES RECOVERABLE	12 Months Ended
	Dec. 31, 2023
TAXES RECOVERABLE	6. 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. December 31, 2023 December 31, 2022 VAT recoverable $ 3,231 $ 1,385 GST recoverable 20 25 Income taxes recoverable 3,329 2,327 $ 6,580 $ 3,737

INVENTORY

INVENTORY	12 Months Ended
	Dec. 31, 2023
INVENTORY	7. INVENTORY December 31, 2023 December 31, 2022 Process material stockpiles $ 4,050 $ 2,788 Concentrate inventory 2,448 1,617 Materials and supplies 2,328 1,855 $ 8,826 $ 6,260 The amount of inventory recognized as an expense for the year ended December 31, 2023 totalled $36,070 (2022 – $28,795). See Note 17 for further details. During the year ended December 31, 2023, the Company wrote down $270 of materials and supplies inventory due to obsolescence (year ended December 31, 2022 – Nil).

LONGTERM INVESTMENTS

LONGTERM INVESTMENTS	12 Months Ended
	Dec. 31, 2023
LONG-TERM INVESTMENTS	8. 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, 2022 Net Additions Movements in foreign exchange Fair value adjustments for the period Fair Value December 31, 2023 Talisker Resources Common Shares $ 1,640 $ - $ 24 $ (882 ) $ 782 Silver Wolf Exploration Ltd. Common Shares 51 36 (1 ) (15 ) 71 Endurance Gold Corp. Common Shares 55 60 - (34 ) 81 $ 1,746 $ 96 $ 23 $ (931 ) $ 934 Silver Wolf Exploration Ltd. During the year ended December 31, 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 9). 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. Endurance Gold Corp. During the year ended December 31, 2023, the Company received 400,000 common shares (December 31, 2022 – received 200,000 common shares) as part of the terms of the Option Agreement with Endurance Gold Corp. 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 9 for full details of the Option Agreement.

EXPLORATION AND EVALUATION ASSE

EXPLORATION AND EVALUATION ASSETS	12 Months Ended
	Dec. 31, 2023
EXPLORATION AND EVALUATION ASSETS	9. 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 877 435 - 1,312 Assessments and taxes 88 (930 ) - (842 ) Effect of movements in exchange rates 22 (122 ) - (100 ) La Preciosa Non core mine right concessions transfer 2,946 (2,946 ) - Option income (63 ) - - (63 ) Balance, December 31, 2023 $ 15,698 $ 34,412 $ 1 $ 50,111 (a) Avino, Mexico The Company’s subsidiary Avino Mexico owns 42 mineral claims and leases four mineral claims in the state of Durango, Mexico. The Company’s mineral claims in Mexico are divided into the following two groups: (i) Avino Mine area property The Avino Mine area property is situated around the towns of Panuco de Coronado and San Jose de Avino and surrounding the historic Avino mine site. There are four exploration concessions covering 154.4 hectares, 24 exploitation concessions covering 1,284.7 hectares, and one leased exploitation concession covering 98.83 hectares. Within the Avino Mine site area is the Company’s San Gonzalo Mine, which achieved production at levels intended by management as of October 1, 2012, and on this date accumulated exploration and evaluation costs were transferred to mining properties. (ii) Gomez Palacio/Ana Maria property The Ana Maria property is located near the town of Gomez Palacio, and consists of nine exploration concessions covering 2,549 hectares, and is also known as the Ana Maria property. 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); 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); 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 8 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 December 31, 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. 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 5 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 year ended December 31, 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 consolidated statements of operations and comprehensive income (loss). 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, 2023, Endurance granted 400,000 common shares and paid C$30 as per the terms of the agreement. As of December 31, 2023, Endurance was in compliance with all terms of the Option agreement.

NONCONTROLLING INTEREST

NONCONTROLLING INTEREST	12 Months Ended
	Dec. 31, 2023
NON-CONTROLLING INTEREST	10. NON-CONTROLLING INTEREST At December 31, 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 consolidated financial statements.

PLANT EQUIPMENT AND MINING PROP

PLANT EQUIPMENT AND MINING PROPERTIES	12 Months Ended
	Dec. 31, 2023
PLANT EQUIPMENT AND MINING PROPERTIES
PLANT, EQUIPMENT AND MINING PROPERTIES	11. 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 3,716 78 1,176 3,270 3,079 701 12,020 Writedowns - (6 ) (22 ) (629 ) (141 ) - (798 ) Effect of movements in exchange rates (28 ) 9 1 2 - (24 ) (40 ) Balance at December 31, 2023 18,375 844 1,929 17,573 26,232 15,370 80,323 ACCUMULATED DEPLETION AND DEPRECIATION / IMPAIRMENT 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 367 111 204 676 1,170 294 2,822 Writedowns - (4 ) (21 ) (619 ) (9 ) - (653 ) Balance at December 31, 2023 9,473 548 781 5,235 7,894 3,323 27,254 NET BOOK VALUE At December 31, 2023 8,902 296 1,148 12,338 18,338 12,047 53,069 At December 31, 2022 5,581 322 176 9,752 16,561 11,664 44,056 Included in Buildings and construction in process above are assets under construction of $3,166 as at December 31, 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 of December 31, 2023, the Company performed an evaluation of the property plant and equipment and recorded a write-down of $144 (December 31, 2022 – $330) against the carrying value of mine and mill machinery and transportation equipment due to damage and obsolescence. As at December 31, 2023, plant, equipment and mining properties included a net carrying amount of $5,832 (December 31, 2022 - $2,417) for mining equipment and right of use assets under lease.

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND BALANCES	12 Months Ended
	Dec. 31, 2023
RELATED PARTY TRANSACTIONS AND BALANCES	12. 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 years ended December 31, 2023 and 2022 is as follows: 2023 2022 Salaries, benefits, and consulting fees $ 1,184 $ 1,228 Share-based payments 1,782 1,566 $ 2,966 $ 2,794 (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: December 31, 2023 December 31, 2022 Oniva International Services Corp. $ 102 $ 100 Silver Wolf Exploration Ltd. (269 ) (72 ) $ (167 ) $ 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 year ended December 31, 2023, the Company paid $285 (December 31, 2022 - $326) 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. The transactions with Oniva during the year ended December 31, 2023 and 2022, are summarized below: 2023 2022 Salaries and benefits $ 953 $ 878 Office and miscellaneous 482 461 $ 1,435 $ 1,339

NOTE PAYABLE

NOTE PAYABLE	12 Months Ended
	Dec. 31, 2023
NOTE PAYABLE	13. NOTE PAYABLE On March 21, 2022, the Company closed the acquisition of the La Preciosa property from Coeur Mining Inc. (see Note 5 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: December 31, 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

WARRANT LIABILITY	12 Months Ended
	Dec. 31, 2023
WARRANT LIABILITY	14. 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: December 31, 2023 December 31, 2022 Balance at beginning of the period $ 475 $ 741 Warrants issued - 2,240 Fair value adjustment (478 ) (2,395 ) 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, December 31, 2023 - - As at December 31, 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: December 31, 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

RECLAMATION PROVISION	12 Months Ended
	Dec. 31, 2023
RECLAMATION PROVISION
RECLAMATION PROVISION	15. RECLAMATION PROVISION Management’s estimate of the reclamation provision at December 31, 2023, is $2,195 (December 31, 2022 – $445), and the undiscounted value of the obligation is $5,491 (December 31, 2022 – $1,454). The present value of the obligation was calculated using a risk-free interest rate of 9.82% (December 31, 2022 – 9.65%) and an inflation rate of 3.76% (December 31, 2022 – 7.82%). Reclamation activities are estimated to begin in 2025 for the San Gonzalo Mine and in 2042 for the Avino Mine. A reconciliation of the changes in the Company’s reclamation provision is as follows: December 31, 2023 December 31, 2022 Balance at beginning of the period $ 445 $ 726 Changes in estimates 1,615 (364 ) Unwinding of discount related to continuing operations 49 44 Effect of movements in exchange rates 86 39 Balance at end of the period $ 2,195 $ 445

SHARE CAPITAL AND SHAREBASED PA

SHARE CAPITAL AND SHAREBASED PAYMENTS	12 Months Ended
	Dec. 31, 2023
SHARE CAPITAL AND SHAREBASED PAYMENTS
SHARE CAPITAL AND SHARE-BASED PAYMENTS	16. SHARE CAPITAL AND SHARE-BASED PAYMENTS (a) Authorized:Unlimited common shares without par value (b) Issued: (i) During the year ended December 31, 2023, the Company issued 9,373,825 common shares in an at-the-market offering under prospectus supplement for gross proceeds of $5,648. The Company paid a 2.75% cash commission of $155 on gross proceeds, for net proceeds of $5,493. The Company also incurred $339 in share issuance costs related to its base shelf prospectus and prospectus supplement filings. During the year ended December 31, 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, $899 was recorded to share capital. (c) Stock options: The Company has a stock option plan to purchase the Company’s common shares, under which it may grant stock options of up to 10% of the Company’s total number of shares issued and outstanding on a non-diluted basis. The stock option plan provides for the granting of stock options to directors, officers, and employees, and to persons providing investor relations or consulting services, the limits being based on the Company’s total number of issued and outstanding shares per year. The stock options vest on the date of grant, except for those issued to persons providing investor relations services, which vest over a period of one year. The option price must be greater than or equal to the discounted market price on the grant date, and the option term cannot exceed ten years from the grant date. Continuity of stock options is as follows: Underlying Shares Weighted Average Exercise Price (C$) 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 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 Forfeited (30,000 ) $ 1.40 Stock options outstanding, December 31, 2023 6,666,000 $ 1.27 Stock options exercisable, December 31, 2023 5,959,750 $ 1.29 The following table summarizes information about the stock options outstanding and exercisable at December 31, 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 0.64 126,000 0.64 August 4, 2025 $ 1.64 1,660,000 1.59 1,660,000 1.59 March 25, 2027 $ 1.20 2,330,000 3.23 2,330,000 3.23 May 4, 2027 $ 0.92 25,000 3.34 25,000 3.34 March 29, 2028 $ 1.12 2,375,000 4.25 1,781,250 4.25 July 10, 2028 $ 1.12 150,000 4.53 37,500 4.53 6,666,000 3.05 5,959,750 3.03 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: December 31, 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 year ended December 31, 2023, the Company charged $924 (year ended December 31, 2022 - $869) to operations as share-based payments for the fair value of stock options granted. (d) Restricted Share Units: On April 19, 2018, the Company’s Restricted Share Unit (“RSU”) Plan was approved by its shareholders. The RSU Plan is administered by the Compensation Committee under the supervision of the Board of Directors as compensation to officers, directors, consultants, and employees. The Compensation Committee determines the terms and conditions upon which a grant is made, including any performance criteria or vesting period. Upon vesting, each RSU entitles the participant to receive one common share, provided that the participant is continuously employed with or providing services to the Company. RSUs track the value of the underlying common shares, but do not entitle the recipient to the underlying common shares until such RSUs vest, nor do they entitle a holder to exercise voting rights or any other rights attached to ownership or control of the common shares, until the RSU vests and the RSU participant receives common shares. Continuity of RSUs is as follows: Underlying Shares Weighted Average Price (C$) 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 (1,005,334 ) $ 1.37 Cancelled / Forfeited (68,943 ) $ 1.14 RSUs outstanding, December 31, 2023 2,994,709 $ 1.03 The following table summarizes information about the RSUs outstanding at December 31, 2023: Issuance Date Price (C$) Number of RSUs Outstanding March 25, 2022 $ 1.19 1,162,265 March 29, 2023 $ 1.12 1,763,124 July 10, 2023 $ 0.94 69,320 2,994,709 During the year ended December 31, 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. During the year ended December 31, 2023, the Company charged $1,345 (December 31, 2022 - $1,155) 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 per share: The calculations for basic earnings per share and diluted earnings per share are as follows: 2023 2022 Net income for the period $ 542 $ 3,096 Basic weighted average number of shares outstanding 121,261,696 114,372,371 Effect of dilutive share options, warrants, and RSUs (‘000) 4,084,978 3,243,527 Diluted weighted average number of shares outstanding 125,346,674 117,615,898 Basic and diluted earnings per share $ 0.00 $ 0.03

REVENUE AND COST OF SALES

REVENUE AND COST OF SALES	12 Months Ended
	Dec. 31, 2023
REVENUE AND COST OF SALES
REVENUE AND COST OF SALES	17. REVENUE AND COST OF SALES The Company’s revenues for the year ended December 31, 2023 and 2022, are all attributable to Mexico, from shipments of concentrate from the Avino Mine. 2023 2022 Concentrate sales $ 43,199 $ 43,648 Provisional pricing adjustments 690 539 $ 43,889 $ 44,187 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. Cost of sales is based on the weighted average cost of inventory sold for the periods and consists of the following: 2023 2022 Production costs $ 32,872 $ 26,749 Write down of equipment 414 330 Depreciation and depletion 2,784 2,046 $ 36,070 $ 29,125

GENERAL AND ADMINISTRATIVE EXPE

GENERAL AND ADMINISTRATIVE EXPENSES	12 Months Ended
	Dec. 31, 2023
GENERAL AND ADMINISTRATIVE EXPENSES	18. GENERAL AND ADMINISTRATIVE EXPENSES General and administrative expenses on the consolidated statements of operations consist of the following: 2023 2022 Salaries and benefits $ 1,506 $ 1,892 Office and miscellaneous 1,399 647 Professional fees 1,378 402 Management and consulting fees 436 451 Investor relations 245 227 Directors fees 187 182 Regulatory and compliance fees 164 170 Depreciation 135 140 Travel and promotion 170 70 $ 5,620 $ 5,156

COMMITMENTS

COMMITMENTS	12 Months Ended
	Dec. 31, 2023
COMMITMENTS	19. 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 12. 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: December 31, 2023 December 31, 2022 Not later than one year $ 714 $ 105 Later than one year and not later than five years 1,241 347 Later than five years 3,965 398 $ 5,920 $ 850 Office lease payments recognized as an expense during the year ended December 31, 2023, totalled $29 (December 31, 2022 - $18).

SUPPLEMENT CASH FLOW INFORMATIO

SUPPLEMENT CASH FLOW INFORMATION	12 Months Ended
	Dec. 31, 2023
SUPPLEMENTARY CASH FLOW INFORMATION	20. SUPPLEMENTARY CASH FLOW INFORMATION 2023 2022 Net change in non-cash working capital items: Accounts payable and accrued liabilities $ 2,832 $ 3,603 Prepaid expenses and other assets (225 ) (904 ) Amounts receivable (631 ) (1,464 ) Taxes payable (768 ) 863 Amounts due to related parties (196 ) (127 ) Taxes recoverable (2,842 ) 71 Inventory (2,931 ) (998 ) $ (4,761 ) $ 1,044 2023 2022 Other non-cash supplementary information: Interest paid $ 227 $ 92 Taxes paid 37 14 $ 264 $ 106 2023 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 95 83 Transfer of share-based payments reserve upon exercise of RSUs 1,019 899 Transfer of share-based payments reserve upon option exercise - 15 Transfer of share-based payments reserve upon option cancellation or expiry 61 831 Equipment acquired under finance leases and equipment loans 3,193 1,827 $ 4,368 $ 25,190

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2023
FINANCIAL INSTRUMENTS	21. 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 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. (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 23). 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 consolidated statement of financial position. At December 31, 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 December 31, 2023, in the amount of $2,688 and current assets exceeded current liabilities by $9,727 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 finance lease obligations are due within 12 months of the consolidated 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 December 31, 2023, are summarized as follows: Total Less Than 1 Year 1-5 years More Than 5 Years Accounts payable and accrued liabilities $ 11,867 $ 11,867 $ - $ - Minimum rental and lease payments 5,920 714 1,241 3,965 Equipment loans 405 188 217 - Finance lease obligations 3,361 1,830 1,531 - Total $ 21,553 $ 14,599 $ 2,989 $ 3,965 (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. (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: December 31, 2023 December 31, 2022 MXN CDN MXN CDN Cash $ 13,338 $ 70 $ 4,097 $ 250 Due from related parties 4,558 - 1,402 - Long-term investments - 1,236 - 2,365 Reclamation bonds - 6 - 4 Amounts receivable 18,644 26 - 34 Accounts payable and accrued liabilities (95,662 ) (150 ) (85,486 ) (108 ) Due to related parties - (135 ) - (135 ) Finance lease obligations (1,129 ) (217 ) (161 ) (343 ) Net exposure (60,251 ) 836 (80,148 ) 2,067 US dollar equivalent $ (3,567 ) $ 577 $ (4,136 ) $ 1,526 Based on the net US dollar denominated asset and liability exposures as at December 31, 2023, a 10% fluctuation in the US/Mexican and Canadian/US exchange rates would impact the Company’s earnings for the year ended December 31, 2023, by approximately $304 (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 December 31, 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 $134 (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 December 31, 2023, a 10% change in market prices would have an impact on net earnings (loss) of approximately $86 (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. (d) Classification of Financial Instruments IFRS 13 Financial Instruments: Disclosures 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 December 31, 2023: Level 1 Level 2 Level 3 Financial assets Cash $ 2,688 $ - $ - Amounts receivable - 3,303 - Long-term investments 934 - - Total financial assets $ 3,622 $ 3,303 $ - 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 December 31, 2022: Level 1 Level 2 Level 3 Financial assets Cash $ 11,245 $ - $ - Amounts receivable - 2,672 - Long-term investments 1,746 - - Total financial assets $ 12,991 $ 2,672 $ - Financial liabilities Warrant liability - - (475 ) Total financial liabilities $ - $ - $ (475 ) The Company uses Black-Scholes model to measure its Level 3 financial instruments. As at December 31, 2023, the Company’s has no Level 3 financial instruments (December 31, 2022 – consisted of the warrant liability).

CAPITAL MANAGEMENT

CAPITAL MANAGEMENT	12 Months Ended
	Dec. 31, 2023
CAPITAL MANAGEMENT	22. CAPITAL MANAGEMENT The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to pursue the exploration and expansion of its properties and to maintain a flexible capital structure for its projects for the benefit of its stakeholders. In the management of capital, the Company includes equity (comprising of all issued share capital, equity reserves, retained earnings or accumulated deficit, and other comprehensive income (loss)), the note payable, and finance lease obligations, are listed as follows: December 31, December 31, 2023 2022 Equity $ 106,001 $ 98,021 Note Payable - 4,926 Equipment loan obligations 359 - Finance lease obligations 3,095 1,716 $ 109,455 $ 104,663 The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust its capital structure, the Company may attempt to incur new debt or issue new shares. Management reviews the Company’s capital structure on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. At December 31, 2023, the Company expects its capital resources and projected future cash flows from operations to support its normal operating requirements on an ongoing basis, and planned development and exploration of its mineral properties and other expansionary plans. At December 31, 2023, there was no externally imposed capital requirement to which the Company was subject and with which the Company did not comply.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	12 Months Ended
	Dec. 31, 2023
SEGMENTED INFORMATION	23. SEGMENTED INFORMATION The Company’s revenues for the year ended December 31, 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 consolidated statements of operations, the Company had revenue from the following product mixes: 2023 2022 Silver $ 16,642 $ 16,570 Copper 13,137 10,258 Gold 20,361 25,875 Penalties, treatment costs and refining charges (6,251 ) (8,516 ) Total revenue from mining operations $ 43,889 $ 44,187 For the year ended December 31, 2023 and 2022, the Company had the following customers that accounted for total revenues as follows: 2023 2022 Customer #1 $ 35,053 $ 39,911 Customer #2 8,675 - Customer #3 161 3,479 Other customers - 797 Total revenue from mining operations $ 43,889 $ 44,187 Geographical information relating to the Company’s non-current assets (other than financial instruments) is as follows: December 31, 2023 December 31, 2022 Exploration and evaluation assets - Mexico $ 50,110 $ 49,803 Exploration and evaluation assets - Canada 1 1 Total exploration and evaluation assets $ 50,111 $ 49,804 December 31, 2023 December 31, 2022 Plant, equipment, and mining properties - Mexico $ 52,891 $ 43,812 Plant, equipment, and mining properties - Canada 178 244 Total plant, equipment, and mining properties $ 53,069 $ 44,056

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
INCOME TAXES
INCOME TAXES	24. INCOME TAXES (a) Income tax expense (recovery) Income tax expense (recovery) included in the consolidated statements of operations and comprehensive income (loss) is as follows: 2023 2022 Current income tax expense (recovery) $ (527 ) $ 1,144 Deferred income tax expense (recovery) (525 ) 3,440 Total income tax expense (recovery) $ (1,052 ) $ 4,584 The reconciliation of income taxes calculated at the Canadian statutory tax rate to the income tax expense recognized in the year is as follows: 2023 2022 Net income (loss) before income taxes $ (510 ) $ 7,680 Combined statutory tax rate 27.00 % 27.00 % Income tax expense (recovery) at the Canadian statutory rate (138 ) 2,074 Reconciling items: Effect of difference in foreign tax rates 57 326 Non-deductible/non-taxable items 892 1,205 Change in unrecognized deductible temporary differences (334 ) 1,169 Impact of foreign exchange (1,574 ) (351 ) Special mining duties 157 385 Revisions to estimates (19 ) (215 ) Share issue costs (136 ) (3 ) Other items 43 (6 ) Income tax expense (recovery) recognized in the year $ (1,052 ) $ 4,584 The Company recognized a non-cash recovery of $30 for the year ended December 31, 2023 (2022 – expense of $408) related to the deferred tax impact of the special mining duty. December 31, December 31, 2023 2022 Deferred income tax assets $ 2,034 $ 1,426 Deferred income tax liabilities (6,730 ) (6,647 ) $ (4,696 ) $ (5,221 ) The approximate tax effects of each type of temporary difference that gives rise to potential deferred income tax assets and liabilities are as follows: December 31, 2023 December 31, 2022 Reclamation provision $ 979 $ 167 Other deductible temporary differences 1,055 1,259 Exploration and evaluation assets (3,054 ) (3,310 ) Plant, equipment and mining properties (3,676 ) (2,337 ) Net deferred income tax liabilities $ (4,696 ) $ (5,221 ) The net deferred tax liability presented in these consolidated financial statements is due to the difference in the carrying amounts and tax bases of the Mexican plant, equipment and mining properties which were acquired in the purchase of Avino Mexico. The carrying values of the Mexican plant, equipment and mining properties includes an estimated fair value adjustment recorded upon the July 17, 2006, acquisition of control of Avino Mexico that was based on a share exchange, while the tax bases of these assets are historical undeducted tax amounts that were nil on acquisition. The deferred tax liability is attributable to assets in the tax jurisdiction of Mexico. (b) Unrecognized deductible temporary differences: Temporary differences and tax losses arising in Canada have not been recognized as deferred income tax assets due to the fact that management has determined it is not probable that sufficient future taxable profits will be earned in Canada to recover such assets. Unrecognized deductible temporary differences are summarized as follows: December 31, 2023 December 31, 2022 Tax losses carried forward - Canada $ 20,468 $ 20,370 Tax losses carried forward - Mexico 50,889 42,575 Share issue costs 815 841 Plant, equipment and mining properties 511 411 Exploration and evaluation assets 1,174 1,156 Investments 2,267 1,289 Unrecognized deductible temporary differences $ 76,124 $ 66,642 The Company has capital losses of $7,919 carried forward and $12,549 in non-capital tax losses carried forward available to reduce future Canadian taxable income. The capital losses can be carried forward indefinitely until used. The non-capital losses have an expiry date range of 2024 to 2043. The Company has non-capital tax losses of $50,889 carried forward available to reduce future Mexican taxable income and have an expiry date range of 2024 to 2033.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2023
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	25. SUBSEQUENT EVENTS At-The-Market Sales

MATERIAL ACCOUNTING POLICIES (P

MATERIAL ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Exploration and evaluation assets and development costs	(i) Exploration and evaluation expenditures The Company capitalizes all costs relating to the acquisition, exploration and evaluation of mineral claims. Expenditures incurred before the Company has obtained the legal rights to explore a specific area are expensed. The Company’s capitalized exploration and evaluation costs are classified as intangible assets. Such costs include, but are not limited to, certain camp costs, geophysical studies, exploratory drilling, geological and sampling expenditures, and depreciation of plant and equipment during the exploration stage. Costs not directly attributable to exploration and evaluation activities, including general administrative overhead costs, are expensed in the period in which they occur. Proceeds from the sale of mineral products or farm outs during the exploration and evaluation stage are deducted from the related capitalized costs. The carrying values of capitalized amounts are reviewed annually, or when indicators of impairment are present. In the case of undeveloped properties, there may be only inferred resources to allow management to form a basis for the impairment review. The review is based on the Company’s intentions for the development of such properties. If a mineral property does not prove to be viable, all unrecoverable costs associated with the property are charged to the consolidated statement of comprehensive income (loss) at the time the determination is made. When the technical feasibility and commercial viability of extracting mineral resources have been demonstrated, exploration and evaluation costs are assessed for impairment, reclassified to mining properties and become subject to depletion. Management considers the technical feasibility and commercial viability of extracting a mineral resource to be demonstrable upon the completion of a positive feasibility study and the establishment of mineral reserves. For certain mineral projects, management may determine the completion of a feasibility study to be cost prohibitive, unnecessary or to present undue risk to the structural integrity of the ore body. Under such circumstances, management considers technical feasibility to be demonstrable when the Company has obtained the necessary environmental and mining permits, land surface and mineral access rights, and the mineral project can be physically constructed and operated in a technically sound manner to produce a saleable mineral product. In assessing whether commercial viability is demonstrable, management considers if its internal economic assessment indicates that the mineral project can be mined to generate a reasonable return on investment for the risk undertaken, and markets or long-term contracts for the product exist. (ii) Development expenditures Mine development costs are capitalized until the mineral property is capable of operating in the manner intended by management. The Company evaluates the following factors in determining whether a mining property is capable of operating in the manner intended by management: · The completion and assessment of a reasonable commissioning period of the mill and mining facilities; · Consistent operating results are achieved during the test period; · Existence of clear indicators that operating levels intended by management will be sustainable for the foreseeable future; · Plant / mill has reached a pre-determined percentage of design capacity; · Adequate funding is available and can be allocated to the operating activities; and, · Long term sales arrangements have been secured. The carrying values of capitalized development costs are reviewed annually, or when indicators are present, for impairment.
Plant, equipment, and mining properties	Upon demonstrating the technical feasibility and commercial viability of extracting mineral resources, all expenditures incurred to that date for the mine are reclassified to mining properties. Expenditures capitalized to mining properties include all costs related to obtaining or expanding access to resources including extensions of the haulage ramp and installation of underground infrastructure, and the estimated reclamation provision. Expenditures incurred with respect to a mining property are capitalized when it is probable that additional future economic benefits will flow to the Company. Otherwise, such expenditures are classified as a cost of sales. Plant and equipment are recorded at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs include expenditures that are directly attributable to bringing the asset to a location and condition necessary to operate in a manner intended by management. Such costs are accumulated as construction in progress until the asset is available for use, at which point the asset is classified as plant, equipment and mining properties and depreciation commences. After the date that management’s intended production levels have been achieved, mining properties are depleted using the straight-line method over the estimated remaining life of the mine. The Company estimates the remaining life of its producing mineral properties on an annual basis using a combination of quantitative and qualitative factors including historical results, mineral resource estimates, and management’s intent to operate the property. Such estimation is a subjective process and the accuracy of any mineral resource estimate is a function of the quantity and quality of available data and of the assumptions made and judgments used in engineering and geological interpretation. Differences between management’s assumptions including economic assumptions such as metal prices, discount rate and market conditions could have a material effect in the future on the Company’s financial position, results of operation and cash flows The Company does not have sufficient reserve information to form a basis for the application of the units-of-production method for depreciation and depletion. As at December 31, 2023 and 2022, the Company estimated a remaining mine life for the Avino Mine of 19 and 20 years, respectively. Upon the acquisition of an asset or a group of assets and liabilities that does not constitute a business, the Company identifies and recognizes the individual identifiable assets acquired and liabilities assumed. The cost of the group is allocated to the individual identifiable assets and liabilities on the basis of their relative fair values at the date of purchase. Such a transaction or event does not give rise to goodwill. Transaction costs related to the acquisition is capitalized as part of cost of assets acquired. Accumulated mill, machinery, plant facilities, and certain equipment are depreciated using the straight-line method over their estimated useful lives, not to exceed the life of the mine for any assets that are inseparable from the mine. When parts of an item of plant and equipment have different useful lives, they are accounted for as separate items (or components) of plant and equipment. Plant and equipment are depreciated using the following annual rates and methods: Office equipment, furniture, and fixtures 5 years straight line balance Computer equipment 3 years straight line balance Mine machinery and transportation equipment 5 years straight line balance Mill machinery and processing equipment 5 - 20 years straight line Buildings 5 - 20 years straight line
Impairment	At each financial position reporting date, the carrying amounts of the Company’s non-financial or long-lived assets are reviewed to determine whether there is any indication that those assets are impaired. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. Where the asset does not generate cash flows that are independent from other assets, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An asset’s recoverable amount is the higher of fair value less costs to sell and value in use. Fair value is determined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset or cash generating unit is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in profit or loss for the period. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, provided the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss.
Leases	The Company assesses whether a contract is, or contains, a lease, at inception of the contract. The Company recognizes a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets (such as tablets and personal computers, small items of office furniture and telephones). For these leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Company uses its incremental borrowing rate. The incremental borrowing rate depends on the term, currency and start date of the lease and is determined based on a series of inputs including: the risk-free rate based on government bond rates; a country-specific risk adjustment; a credit risk adjustment based on bond yields; and an entity-specific adjustment when the risk profile of the entity that enters into the lease is different to that of the Company and the lease does not benefit from a guarantee from the Company. Lease payments included in the measurement of the lease liability comprise: · Fixed lease payments (including in-substance fixed payments), less any lease incentives receivable · Variable lease payments that depend on an index or rate, initially measured using the index or rate at the commencement date · The amount expected to be payable by the lessee under residual value guarantees · The exercise price of purchase options, if the lessee is reasonably certain to exercise the options · Payments of penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease The lease liability is presented as a separate line in the consolidated statement of financial position. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. The Company remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever: · The lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate · The lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which cases the lease liability is remeasured by discounting the revised lease payments using an unchanged discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used) · A lease contract is modified and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day, less any lease incentives received and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses. Right-of-use assets are depreciated over the shorter period of lease term and useful life of the right-of-use asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the Company expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease. The Company applies IAS 36 to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss as described in the ‘Plant, Equipment and Mining Properties’ policy.
Inventory	Material extracted from the Company's mine is classified as either process material or waste. Process material represents mineralized material that, at the time of extraction, the Company expects to process into a saleable form and sell at a profit, while waste is considered uneconomic to process and its extraction cost is included in direct mining costs. Raw materials are comprised of process material stockpiles. Process material is accumulated in stockpiles that are subsequently processed into bulk copper, silver, and gold concentrate in a saleable form. The Company has bulk copper, silver, and gold concentrate inventory in saleable form that has not yet been sold. Mine operating supplies represent commodity consumables and other raw materials used in the production process, as well as spare parts and other maintenance supplies that are not classified as capital items. Inventories are valued at the lower of cost and net realizable value (“NRV”). Cost is determined on a weighted average basis and includes all costs incurred, based on normal production capacity, in bringing each product to its present location and condition. Cost of inventories comprises direct labor, materials and contractor expenses, depletion and depreciation on mining properties, plant and equipment, and an allocation of mine site costs. As mineralized material is removed for processing, costs are removed based on the average cost per tonne in the stockpile. Stockpiled process material tonnages are verified by periodic surveys. NRV of mineralized material is determined with reference to relevant market prices less the estimated costs of completion and the estimated costs necessary to make the sale. NRV of materials and supplies is generally calculated by reference to salvage or scrap values when it is determined that the supplies are obsolete. NRV provisions are recorded within cost of sales in the consolidated statement of operations, and are reversed to reflect subsequent recoveries where the inventory is still on hand.
Revenue from Contracts with Customers	Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue and costs to sell can be reliably measured. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, and other sales tax or duty. Performance Obligations Based on the criteria outlined in IFRS 15, the Company applied judgment in determining that the primary performance obligation relating to its sales contracts is the delivery of concentrates. Shipping and insurance services arranged by the Company for concentrate sales that occur after the transfer of control are also considered performance obligations. Transfer of Control Based on the criteria outlined in IFRS 15, the Company applied judgment in determining when the transfer of control occurs. Management based its assessment on a number of indicators of control, which include but are not limited to, whether the Company has the present right of payment and whether the physical possession of the goods, significant risks and rewards, and legal title have been transferred to the customer. Provisional Pricing Based on the criteria outlined in IFRS 15, the Company applied significant judgment in determining variable consideration. The Company identified a provisional pricing component in concentrate sales, representing variable consideration in the form of adjustments between original and final assay results relating to the quantity and quality of concentrate shipments. Pricing adjustments between provisional and final invoicing based on market prices for base and precious metals are included in revenues until final settlement. Based on the Company’s historical accuracy in the assay process, as evidenced by the negligible historical adjustments relating to assay differences, the Company concluded the variability in consideration caused by the assaying results is negligible. The Company does not expect a significant amount of reversal related to assaying differences. The Company records revenues based on provisional invoices based on quoted market prices of the London Bullion Market Association and the London Metal Exchange during the quotation period outlined in the concentrate sales agreement. The Company applied judgment to determine the amount of variable consideration to be recognized during the period for which the likelihood of significant reversal is low.
Financial Instruments	Measurement – initial recognition All financial assets and financial liabilities are initially recorded on the Company’s consolidated statement of financial position when the Company becomes a party to the contractual provisions of the instrument. All financial asset and liabilities are initially recorded at fair value, net of attributable transaction costs, except for those classified as fair value through profit or loss (“FVTPL”). Subsequent measurement of financial assets and financial liabilities depends on the classifications of such assets and liabilities. Classification – financial assets Amortized cost: Financial assets that are held within a business model whose objective is to hold financial assets in order to collect contractual cash flows, and that the contractual terms of the financial assets give rise on specified date to cash flows that are solely payments of principal and interest on the principal amount outstanding, are measured subsequent to initial recognition at amortized cost. The amortized cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. Interest income is recognized using the effect interest method, and is recognized in Interest and other income, on the consolidated statements of operations and comprehensive income (loss) The Company financial assets at amortized costs include amounts receivable not related to sales of concentrate (including due from related parties), investments (short-term), and reclamation bonds. Fair value through other comprehensive income (“FVTOCI”) Financial assets that are held within a business model whose objective is to hold financial assets in order to both collect contractual cash flows and selling financial assets, and that the contractual terms of the financial assets give rise on specified date to cash flows that are solely payments of principal and interest on the principal amount outstanding. Upon initial recognition of equity securities, the Company may make an irrevocable election (on an instrument-by-instrument basis) to designate its equity securities that would otherwise be measured at FVTPL to present subsequent changes in fair value in other comprehensive income. Designation at FVTOCI is not permitted if the equity investment is held for trading or if it is contingent consideration recognized by an acquirer in a business combination. Investments in equity instruments at FVTOCI are initially measured at fair value plus transaction costs. Subsequently, they are measured at fair value with gains and losses arising from changes in fair value recognized in other OCI. The cumulative gain or loss is not reclassified to profit or loss on disposal of the instrument; instead, it is transferred to retained earnings. The Company currently has no financial assets designated as FVTOCI. Fair value through profit or loss (“FVTPL”) By default, all other financial assets are measured subsequently at FVTPL, which includes cash, long-term investments, and amounts receivable from concentrate sales. Classification – financial liabilities Financial liabilities that are not contingent consideration of an acquirer in a business combination, held for trading or designated as at FVTPL, are measured at amortized cost using the effective interest method. Financial liabilities at amortized cost include accounts payable, and amounts due to related parties. Financial liabilities classified FVTPL include financial liabilities held for trading and financial liabilities designated upon initial recognition as FVTPL. Fair value changes on financial liabilities classified as FVTPL are recognized in the consolidated statements of operations. The Company has classified share purchase warrants with an exercise price in US dollars (see Note 14) as financial liabilities at FVTPL. As these warrants are exercised, the fair value of the recorded warrant liability on date of exercise is included in share capital along with the proceeds from the exercise. If these warrants expire, the related decrease in warrant liability is recognized in the consolidated statements of operations and comprehensive income (loss). The Company has no hedging arrangements and does not apply hedge accounting. Impairment The Company recognizes a loss allowance for expected credit losses on its financial assets when necessary. The amount of expected credit losses is updated at each reporting period to reflect changes in credit risk since initial recognition of the respective financial instruments.
Share capital	a) Common shares Common shares are classified as equity. Transaction costs directly attributable to the issuance of common shares and equity warrants are recognized as a deduction from equity, net of any tax effects. Transaction costs directly attributable to derivative warrants are charged to operations as a finance cost. b) Repurchase of share capital (treasury shares) When share capital recognized as equity is repurchased, the amount of the consideration paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares and are presented as a deduction from total equity. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the resulting surplus or deficit on the transaction is transferred to accumulated deficit.
Share-based payment transactions	The Company’s share option plan and restricted share unit (“RSU”) plan allows directors, officers, employees, and consultants to acquire common shares of the Company. The fair value of options granted is measured at fair value at the grant date based on the market value of the Company’s common shares on that date. The fair value of equity-settled RSUs is measured at the grant date based on the market value of the Company’s common shares on that date, and each tranche is recognized using the graded vesting method over the period during which the RSUs vest. At each financial position reporting date, the amount recognized as an expense is adjusted to reflect the actual number of RSUs that are expected to vest. All options and RSUs are recognized in the consolidated statements of operations and comprehensive income (loss) as an expense over the vesting period with a corresponding increase in equity reserves in the consolidated statements of financial position.
Reclamation and other provisions	Provisions are recognized where a legal or constructive obligation has been incurred as a result of past events, it is probable that an outflow of resources embodying economic benefit will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made. If material, provisions are measured at the present value of the expenditures expected to be required to settle the obligation. The increase in any provision due to the passage of time is recognized as accretion expense. The Company records the present value of estimated costs of legal and constructive obligations required to restore properties in the period in which the obligation is incurred. The nature of these restoration activities includes dismantling and removing structures, rehabilitating mines and restoration, reclamation, and re-vegetation of affected areas. The fair value of the liability for a rehabilitation provision is recorded when it is incurred. When the liability is initially recognized, the present value of the estimated cost is capitalized by increasing the carrying amount of the related mining property or exploration and evaluation asset. Over time, the discounted liability is increased for the change in present value based on the discount rates that reflect current market assessments and the risks specific to the liability, which is accreted over time through periodic charges to income or loss. A revision in estimates or new disturbance will result in an adjustment to the provision with an offsetting adjustment to the mineral property or the exploration and evaluation asset. Additional disturbances, changes in costs, or changes in assumptions are recognized as adjustments to the corresponding assets and reclamation liabilities when they occur.
Earnings per share	The Company presents basic and diluted earnings per share data for its common shares, calculated by dividing the earnings attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the year. Diluted earnings per share is determined by adjusting the earnings attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all potentially dilutive common shares.
Income taxes	Income taxes in the years presented are comprised of current and deferred tax. Income tax is recognized in profit or loss except to the extent that it relates to items recognized directly in equity, in which case it is recognized as equity. Deferred tax is recognized using the statement of financial position asset and liability method, which provides for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The amount of deferred tax recognized is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the consolidated statement of financial position date. A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets and liabilities are not recognized if the temporary differences arise from the initial recognition of goodwill or an asset or liability in a transaction other than a business combination that affects neither accounting profit nor taxable profit.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	12 Months Ended
	Dec. 31, 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 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

MATERIAL ACCOUNTING POLICIES (T

MATERIAL ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
schedule of Plant and equipment are depreciated	Office equipment, furniture, and fixtures 5 years straight line balance Computer equipment 3 years straight line balance Mine machinery and transportation equipment 5 years straight line balance Mill machinery and processing equipment 5 - 20 years straight line Buildings 5 - 20 years straight line

ACQUISITION OF LA PRECIOSA (Tab

ACQUISITION OF LA PRECIOSA (Tables)	12 Months Ended
	Dec. 31, 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 RECEOVERABLE (Tables)

TAXES RECEOVERABLE (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule Of Income Taxes Recoverable And Canadian Sales Taxes	December 31, 2023 December 31, 2022 VAT recoverable $ 3,231 $ 1,385 GST recoverable 20 25 Income taxes recoverable 3,329 2,327 $ 6,580 $ 3,737

INVENTORY (Tables)

INVENTORY (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule Of Inventory	December 31, 2023 December 31, 2022 Process material stockpiles $ 4,050 $ 2,788 Concentrate inventory 2,448 1,617 Materials and supplies 2,328 1,855 $ 8,826 $ 6,260

LONGTERM INVESTMENTS (Tables)

LONGTERM INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule Of Long-term Investments	Fair Value December 31, 2022 Net Additions Movements in foreign exchange Fair value adjustments for the period Fair Value December 31, 2023 Talisker Resources Common Shares $ 1,640 $ - $ 24 $ (882 ) $ 782 Silver Wolf Exploration Ltd. Common Shares 51 36 (1 ) (15 ) 71 Endurance Gold Corp. Common Shares 55 60 - (34 ) 81 $ 1,746 $ 96 $ 23 $ (931 ) $ 934

EXPLORATION AND EVALUATION AS_2

EXPLORATION AND EVALUATION ASSETS (Tables)	12 Months Ended
	Dec. 31, 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 877 435 - 1,312 Assessments and taxes 88 (930 ) - (842 ) Effect of movements in exchange rates 22 (122 ) - (100 ) La Preciosa Non core mine right concessions transfer 2,946 (2,946 ) - Option income (63 ) - - (63 ) Balance, December 31, 2023 $ 15,698 $ 34,412 $ 1 $ 50,111

PLANT EQUIPMENT AND MINING PR_2

PLANT EQUIPMENT AND MINING PROPERTIES (Tables)	12 Months Ended
	Dec. 31, 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 3,716 78 1,176 3,270 3,079 701 12,020 Writedowns - (6 ) (22 ) (629 ) (141 ) - (798 ) Effect of movements in exchange rates (28 ) 9 1 2 - (24 ) (40 ) Balance at December 31, 2023 18,375 844 1,929 17,573 26,232 15,370 80,323 ACCUMULATED DEPLETION AND DEPRECIATION / IMPAIRMENT 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 367 111 204 676 1,170 294 2,822 Writedowns - (4 ) (21 ) (619 ) (9 ) - (653 ) Balance at December 31, 2023 9,473 548 781 5,235 7,894 3,323 27,254 NET BOOK VALUE At December 31, 2023 8,902 296 1,148 12,338 18,338 12,047 53,069 At December 31, 2022 5,581 322 176 9,752 16,561 11,664 44,056

RELATED PARTY TRANSACTIONS AN_2

RELATED PARTY TRANSACTIONS AND BALANCES (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule Of Related Party Transactions With Oniva	2023 2022 Salaries, benefits, and consulting fees $ 1,184 $ 1,228 Share-based payments 1,782 1,566 $ 2,966 $ 2,794
Schedule Of Related Party Transactions And Balances	December 31, 2023 December 31, 2022 Oniva International Services Corp. $ 102 $ 100 Silver Wolf Exploration Ltd. (269 ) (72 ) $ (167 ) $ 28
Schedule Of Due To Related Parties	2023 2022 Salaries and benefits $ 953 $ 878 Office and miscellaneous 482 461 $ 1,435 $ 1,339

NOTE PAYABLE (Tables)

NOTE PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule of note payable	December 31, 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)

WARRANT LIABILITY (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule Of Change In Warrant Liability	December 31, 2023 December 31, 2022 Balance at beginning of the period $ 475 $ 741 Warrants issued - 2,240 Fair value adjustment (478 ) (2,395 ) 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, December 31, 2023 - -
Schedule Of Fair Value Of Warrant Liability	December 31, 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)

RECLAMATION PROVISION (Tables)	12 Months Ended
	Dec. 31, 2023
RECLAMATION PROVISION
Reconciliation Of The Changes In The Company's Reclamation Provision	December 31, 2023 December 31, 2022 Balance at beginning of the period $ 445 $ 726 Changes in estimates 1,615 (364 ) Unwinding of discount related to continuing operations 49 44 Effect of movements in exchange rates 86 39 Balance at end of the period $ 2,195 $ 445

SHARE CAPITAL AND SHAREBASED _2

SHARE CAPITAL AND SHAREBASED PAYMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
SHARE CAPITAL AND SHAREBASED 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 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 Forfeited (30,000 ) $ 1.40 Stock options outstanding, December 31, 2023 6,666,000 $ 1.27 Stock options exercisable, December 31, 2023 5,959,750 $ 1.29
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 0.64 126,000 0.64 August 4, 2025 $ 1.64 1,660,000 1.59 1,660,000 1.59 March 25, 2027 $ 1.20 2,330,000 3.23 2,330,000 3.23 May 4, 2027 $ 0.92 25,000 3.34 25,000 3.34 March 29, 2028 $ 1.12 2,375,000 4.25 1,781,250 4.25 July 10, 2028 $ 1.12 150,000 4.53 37,500 4.53 6,666,000 3.05 5,959,750 3.03
Schedule of fair value of the stock options was calculated using the Black-Scholes model	December 31, 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 (1,005,334 ) $ 1.37 Cancelled / Forfeited (68,943 ) $ 1.14 RSUs outstanding, December 31, 2023 2,994,709 $ 1.03
Schedule of summarizes information about the RSUs	Issuance Date Price (C$) Number of RSUs Outstanding March 25, 2022 $ 1.19 1,162,265 March 29, 2023 $ 1.12 1,763,124 July 10, 2023 $ 0.94 69,320 2,994,709
Schedule Of Basic Earnings Per Share And Diluted Earnings Per Share	2023 2022 Net income for the period $ 542 $ 3,096 Basic weighted average number of shares outstanding 121,261,696 114,372,371 Effect of dilutive share options, warrants, and RSUs (‘000) 4,084,978 3,243,527 Diluted weighted average number of shares outstanding 125,346,674 117,615,898 Basic and diluted earnings per share $ 0.00 $ 0.03

REVENUE AND COST OF SALES (Tabl

REVENUE AND COST OF SALES (Tables)	12 Months Ended
	Dec. 31, 2023
REVENUE AND COST OF SALES
Schedule Of Revenue	2023 2022 Concentrate sales $ 43,199 $ 43,648 Provisional pricing adjustments 690 539 $ 43,889 $ 44,187
Schedule Of Cost Of Sales	2023 2022 Production costs $ 32,872 $ 26,749 Write down of equipment 414 330 Depreciation and depletion 2,784 2,046 $ 36,070 $ 29,125

GENERAL AND ADMINISTRATIVE EX_2

GENERAL AND ADMINISTRATIVE EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule Of General And Administrative Expenses	2023 2022 Salaries and benefits $ 1,506 $ 1,892 Office and miscellaneous 1,399 647 Professional fees 1,378 402 Management and consulting fees 436 451 Investor relations 245 227 Directors fees 187 182 Regulatory and compliance fees 164 170 Depreciation 135 140 Travel and promotion 170 70 $ 5,620 $ 5,156

COMMITMENTS (Tables)

COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule Of Commitments	December 31, 2023 December 31, 2022 Not later than one year $ 714 $ 105 Later than one year and not later than five years 1,241 347 Later than five years 3,965 398 $ 5,920 $ 850

SUPPLEMENT CASH FLOW INFORMAT_2

SUPPLEMENT CASH FLOW INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule Of Supplement Cash Flow Information	2023 2022 Net change in non-cash working capital items: Accounts payable and accrued liabilities $ 2,832 $ 3,603 Prepaid expenses and other assets (225 ) (904 ) Amounts receivable (631 ) (1,464 ) Taxes payable (768 ) 863 Amounts due to related parties (196 ) (127 ) Taxes recoverable (2,842 ) 71 Inventory (2,931 ) (998 ) $ (4,761 ) $ 1,044 2023 2022 Other non-cash supplementary information: Interest paid $ 227 $ 92 Taxes paid 37 14 $ 264 $ 106 2023 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 95 83 Transfer of share-based payments reserve upon exercise of RSUs 1,019 899 Transfer of share-based payments reserve upon option exercise - 15 Transfer of share-based payments reserve upon option cancellation or expiry 61 831 Equipment acquired under finance leases and equipment loans 3,193 1,827 $ 4,368 $ 25,190

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule Of Contractual Obligations And Commitments	Total Less Than 1 Year 1-5 years More Than 5 Years Accounts payable and accrued liabilities $ 11,867 $ 11,867 $ - $ - Minimum rental and lease payments 5,920 714 1,241 3,965 Equipment loans 405 188 217 - Finance lease obligations 3,361 1,830 1,531 - Total $ 21,553 $ 14,599 $ 2,989 $ 3,965
Schedule Of Foreign Currency Risk	December 31, 2023 December 31, 2022 MXN CDN MXN CDN Cash $ 13,338 $ 70 $ 4,097 $ 250 Due from related parties 4,558 - 1,402 - Long-term investments - 1,236 - 2,365 Reclamation bonds - 6 - 4 Amounts receivable 18,644 26 - 34 Accounts payable and accrued liabilities (95,662 ) (150 ) (85,486 ) (108 ) Due to related parties - (135 ) - (135 ) Finance lease obligations (1,129 ) (217 ) (161 ) (343 ) Net exposure (60,251 ) 836 (80,148 ) 2,067 US dollar equivalent $ (3,567 ) $ 577 $ (4,136 ) $ 1,526
Schedule Of Fair Value On Recurring Basis	Level 1 Level 2 Level 3 Financial assets Cash $ 2,688 $ - $ - Amounts receivable - 3,303 - Long-term investments 934 - - Total financial assets $ 3,622 $ 3,303 $ - Level 1 Level 2 Level 3 Financial assets Cash $ 11,245 $ - $ - Amounts receivable - 2,672 - Long-term investments 1,746 - - Total financial assets $ 12,991 $ 2,672 $ - Financial liabilities Warrant liability - - (475 ) Total financial liabilities $ - $ - $ (475 )

CAPITAL MANAGEMENT (Tables)

CAPITAL MANAGEMENT (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule Of note payable, and finance lease obligations	December 31, December 31, 2023 2022 Equity $ 106,001 $ 98,021 Note Payable - 4,926 Equipment loan obligations 359 - Finance lease obligations 3,095 1,716 $ 109,455 $ 104,663

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule Of consolidated statements of operations forrevenue	2023 2022 Silver $ 16,642 $ 16,570 Copper 13,137 10,258 Gold 20,361 25,875 Penalties, treatment costs and refining charges (6,251 ) (8,516 ) Total revenue from mining operations $ 43,889 $ 44,187
Schedule Of customers accounted for total revenues	2023 2022 Customer #1 $ 35,053 $ 39,911 Customer #2 8,675 - Customer #3 161 3,479 Other customers - 797 Total revenue from mining operations $ 43,889 $ 44,187
Schedule Of Geographical information relating non-current assets	December 31, 2023 December 31, 2022 Exploration and evaluation assets - Mexico $ 50,110 $ 49,803 Exploration and evaluation assets - Canada 1 1 Total exploration and evaluation assets $ 50,111 $ 49,804 December 31, 2023 December 31, 2022 Plant, equipment, and mining properties - Mexico $ 52,891 $ 43,812 Plant, equipment, and mining properties - Canada 178 244 Total plant, equipment, and mining properties $ 53,069 $ 44,056

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
INCOME TAXES
Schedule Of Income tax expense	2023 2022 Current income tax expense (recovery) $ (527 ) $ 1,144 Deferred income tax expense (recovery) (525 ) 3,440 Total income tax expense (recovery) $ (1,052 ) $ 4,584
Schedule Of reconciliation of income taxes	2023 2022 Net income (loss) before income taxes $ (510 ) $ 7,680 Combined statutory tax rate 27.00 % 27.00 % Income tax expense (recovery) at the Canadian statutory rate (138 ) 2,074 Reconciling items: Effect of difference in foreign tax rates 57 326 Non-deductible/non-taxable items 892 1,205 Change in unrecognized deductible temporary differences (334 ) 1,169 Impact of foreign exchange (1,574 ) (351 ) Special mining duties 157 385 Revisions to estimates (19 ) (215 ) Share issue costs (136 ) (3 ) Other items 43 (6 ) Income tax expense (recovery) recognized in the year $ (1,052 ) $ 4,584
Schedule Of deferred tax impact	December 31, December 31, 2023 2022 Deferred income tax assets $ 2,034 $ 1,426 Deferred income tax liabilities (6,730 ) (6,647 ) $ (4,696 ) $ (5,221 )
Schedule Of income tax assets and liabilities	December 31, 2023 December 31, 2022 Reclamation provision $ 979 $ 167 Other deductible temporary differences 1,055 1,259 Exploration and evaluation assets (3,054 ) (3,310 ) Plant, equipment and mining properties (3,676 ) (2,337 ) Net deferred income tax liabilities $ (4,696 ) $ (5,221 )
Schedule Of Unrecognized deductible temporary differences	December 31, 2023 December 31, 2022 Tax losses carried forward - Canada $ 20,468 $ 20,370 Tax losses carried forward - Mexico 50,889 42,575 Share issue costs 815 841 Plant, equipment and mining properties 511 411 Exploration and evaluation assets 1,174 1,156 Investments 2,267 1,289 Unrecognized deductible temporary differences $ 76,124 $ 66,642

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details)	12 Months Ended
	Dec. 31, 2023
Oniva Silver And GoldMines SADeCV [Member]
Statement [Line Items]
Ownership Interest	100%
Jurisdiction	Mexico
Nature of Operations	Mexican administration
Nueva Vizcaya Mining, S.A. de C.V. (Member)
Statement [Line Items]
Ownership Interest	100%
Jurisdiction	Mexico
Nature of Operations	Mexican administration
Promotora Avino, S.A. de C.V. (Member)
Statement [Line Items]
Ownership Interest	79.09%
Jurisdiction	Mexico
Nature of Operations	Holding company
La Luna Silver & Gold Mines Ltd. (Member)
Statement [Line Items]
Ownership Interest	100%
Jurisdiction	Canada
Nature of Operations	Holding company
La Preciosa Silver & Gold Mines Ltd.(Member)
Statement [Line Items]
Ownership Interest	100%
Jurisdiction	Canada
Proyectos Mineros La Preciosa S.A. de C.V. (Member)
Statement [Line Items]
Ownership Interest	100%
Jurisdiction	Mexico
Nature of Operations	Mining and exploration
Cervantes LLP (Member)
Statement [Line Items]
Ownership Interest	100%
Jurisdiction	U.S.
Nature of Operations	Holding company
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%

MATERIAL ACCOUNTING POLICIES (D

MATERIAL ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2023
Buildings [Member] | Minimum [Member]
Statement [Line Items]
Plant and equipment	5 years
Buildings [Member] | Maximum [Member]
Statement [Line Items]
Plant and equipment	20 years
Mill Machinery And Processing Equipment [Member] | Minimum [Member]
Statement [Line Items]
Plant and equipment	5 years
Mill Machinery And Processing Equipment [Member] | Maximum [Member]
Statement [Line Items]
Plant and equipment	20 years
Office Equipment Furniture And Fixtures [Member]
Statement [Line Items]
Plant and equipment	5 years
Computer Equipment [Member]
Statement [Line Items]
Plant and equipment	3 years
Mine Machinery And Transportation Equipment [Member]
Statement [Line Items]
Plant and equipment	5 years

MATERIAL ACCOUNTING POLICIES _2

MATERIAL ACCOUNTING POLICIES (Details Narrative)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Estimated Mine Life [Member]
Statement [Line Items]
Estimated year of mine life	19 years	20 years

ACQUISITION OF LA PRECIOSA (Det

ACQUISITION OF LA PRECIOSA (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Plant And Equipment	$ 53,069	$ 44,056
Fair values of the Assets acquired and Liabilities
Statement [Line Items]
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

ACQUISITION OF LA PRECIOSA (D_2

ACQUISITION OF LA PRECIOSA (Details Narrative)	12 Months Ended
	Dec. 31, 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
Common Shares Issuance, Value	$ 14,630
Avino
Statement [Line Items]
Common Stock Shares Issuance, Shares | shares	14,000,000
Common Shares Issuance, Value	$ 13,650,000
La Preciosa Silver & Gold Mines Ltd.(Member)
Statement [Line Items]
Royalty Returns	2%
Gloria and Abundancia
Statement [Line Items]
Royalty Returns	1.25%
Common Stock Shares Issuance, Shares | shares	1,075,000
Common Shares Issuance, Value	$ 980
Coeur
Statement [Line Items]
Cash Consideration	15,300,000
Promissory Note	$ 5,000,000
Warrants Purchase | shares	7,000,000
Warrants Value	$ 2,240,000
Warrants Exercisable Price Per Shares | $ / shares	$ 1.09
Warrants Premium	25%
Additional Cash Payment	$ 8,750,000

TAXES RECOVERABLE (Details)

TAXES RECOVERABLE (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Vat Recoverable	$ 3,231	$ 1,385
Gst Recoverable	20	25
Income Taxes Recoverable	3,329	2,327
Total Taxes Recoverable	$ 6,580	$ 3,737

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Process Material Stockpiles	$ 4,050	$ 2,788
Concentrate Inventory	2,448	1,617
Materials And Supplies	2,328	1,855
Inventories	$ 8,826	$ 6,260

INVENTORY (Details Narrative)

INVENTORY (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Amount of inventory recognized as an expense	$ 36,070,000	$ 28,795,000
Wrote down material and supplies inventory	$ 270,000	$ 0

LONG TERM INVESTMENTS (Details)

LONG TERM INVESTMENTS (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Statement [Line Items]
Fair Value Of Long Term Investments, Beginning Balance	$ 1,746
Net Additions And (warrants Exercised)	96
Movements In Foreign Exchange	23
Fair Value Adjustments For The Period	(931)
Fair Value Of Long Term Investments, Ending Balance	934
Talisker Resources Ltd [Member] | Common Shares [Member]
Statement [Line Items]
Fair Value Of Long Term Investments, Beginning Balance	1,640
Net Additions And (warrants Exercised)	0
Movements In Foreign Exchange	24
Fair Value Adjustments For The Period	(882)
Fair Value Of Long Term Investments, Ending Balance	782
Silver Wolf Exploration Ltd. [Member] | Common Share [Member]
Statement [Line Items]
Fair Value Of Long Term Investments, Beginning Balance	51
Net Additions And (warrants Exercised)	36
Movements In Foreign Exchange	(1)
Fair Value Adjustments For The Period	(15)
Fair Value Of Long Term Investments, Ending Balance	71
Endurance Gold Corp. Common Shares
Statement [Line Items]
Fair Value Of Long Term Investments, Beginning Balance	55
Net Additions And (warrants Exercised)	60
Movements In Foreign Exchange	0
Fair Value Adjustments For The Period	(34)
Fair Value Of Long Term Investments, Ending Balance	$ 81

LONG TERM INVESTMENTS (Details

LONG TERM INVESTMENTS (Details Narrative)	12 Months Ended
	Dec. 31, 2023 shares
Silver Wolf Exploration Ltd. [Member] | Common Share [Member]
Statement [Line Items]
Receipt of common stock as part of option agreement	500,000
Warrant shares purchased	400,000
Endurance Gold Corp. [Member]
Statement [Line Items]
Receipt of common stock as part of option agreement	200,000

EXPLORATION AND EVALUATION AS_3

EXPLORATION AND EVALUATION ASSETS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Beginning Balance	$ 49,804,000	$ 11,053,000
Acquisition costs - Note 4	0	37,618,000
Drilling And Exploration	1,312,000	1,015,000
Assessments And Taxes	(842,000)	155,000
Effect Of Movements In Exchange Rates	(100,000)	(30,000)
La Preciosa Non core mine right concessions transfer	0
Option income	(63,000)	(7,000)
Ending Balance	50,111,000	49,804,000
Avino, Mexico City [Member]
Statement [Line Items]
Beginning Balance	11,828,000	11,052,000
Acquisition costs - Note 4		0
Drilling And Exploration	877,000	719,000
Assessments And Taxes	88,000	94,000
Effect Of Movements In Exchange Rates	22,000	(30,000)
La Preciosa Non core mine right concessions transfer	2,946,000
Option income	(63,000)	(7,000)
Ending Balance	15,698,000	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	435,000	296,000
Assessments And Taxes	(930,000)	61,000
Effect Of Movements In Exchange Rates	(122,000)	0
La Preciosa Non core mine right concessions transfer	(2,946,000)
Option income	0	0
Ending Balance	34,412,000	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 AS_4

EXPLORATION AND EVALUATION ASSETS (Details Narrative)	12 Months Ended
	Dec. 31, 2023 USD ($) a integer $ / shares shares	Dec. 31, 2023 CAD ($) integer shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2012 CAD ($) shares	Dec. 31, 2023 CAD ($) a integer	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	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	400,000	400,000
Payment		$ 30
Exploration Expenditures Properties	$ 50,111,000		$ 49,804,000			$ 11,053,000
Warrants Acquire Shares Purchase | shares	125,346,674	125,346,674	117,615,898
La Preciosa, Mexico [Member]
Statement [Line Items]
Area Of Exploitation Concessions | a	1,284.7				1,284.7
Exploration Expenditures Properties	$ 34,412,000		$ 37,975,000			$ 0
Avino, Mexico [Member]
Statement [Line Items]
Warrants Purchase | shares	750,000	750,000
Warrants Premium	25%	25%
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	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
Number Of Mineral Claims Owned By Avino Mexico | integer	42	42
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	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				$ 250,000
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	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	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
9 Concessions [Member] | Durango, Mexico [Member] | Gomez Palacio property [Member]
Statement [Line Items]
Area Of Exploitation Concessions | a	2,549				2,549
Avino Mine Area Property [Member] | 1 Concessions [Member] | Durango, Mexico [Member]
Statement [Line Items]
Area Of Exploitation Concessions | a	98.83				98.83
Avino Mine Area Property [Member] | 24 Concessions [Member] | Durango, Mexico [Member]
Statement [Line Items]
Area Of Exploitation Concessions | a	154.4				154.4
Number Of Exploitation Concessions | integer	24				24
Eagle property option agreement [Member] | Mayo Mining Division [Member] | Yukon, Canada [Member]
Statement [Line Items]
Ownership Percentage	100%	100%
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	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	$ 250,000
Silver Wolf Exploration Ltd. [Member]
Statement [Line Items]
Common Stock Shares Issued Value		$ 50,000
Exploration Expenditures Properties					$ 750
Silver Wolf Exploration Ltd. [Member] | First Anniversary [Member]
Statement [Line Items]
Common Stock Shares Issued Value		50,000
Exploration Expenditures Properties					50,000
Silver Wolf Exploration Ltd. [Member] | Second Anniversary [Member]
Statement [Line Items]
Common Stock Shares Issued Value		100,000
Exploration Expenditures Properties					100,000
Silver Wolf Exploration Ltd. [Member] | Third Anniversary [Member]
Statement [Line Items]
Common Stock Shares Issued Value		200,000
Silver Wolf Exploration Ltd. [Member] | Fourth Anniversary [Member]
Statement [Line Items]
Common Stock Shares Issued Value		200,000
Exploration Expenditures Properties					$ 600,000
Silver Wolf Exploration Ltd. [Member] | Option Agreement [Member]
Statement [Line Items]
Common Stock Shares Issued Value		$ 600
Warrants Acquire Shares Purchase | shares	300,000	300,000
Exercise Price | $ / shares	$ 0.20
Ownership Percentage	100%	100%

NONCONTROLLING INTEREST (Detail

NONCONTROLLING INTEREST (Details Narrative)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Ownership Interest, Percentage	99.67%	99.67%
Non-controlling Interest	0.33%	0.33%

PLANT EQUIPMENT AND MINING PR_3

PLANT EQUIPMENT AND MINING PROPERTIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Beginning Balance	$ 69,141,000	$ 58,599,000
Additions/ Transfers	12,020,000	12,346,000
Writendowns	(798,000)	(1,792,000)
Effect Of Movements In Exchange Rates	(40,000)	(12,000)
Ending balance	80,323,000	69,141,000
Accumulated Depletion And Depreciation, Beginning Balance	25,085,000	22,924,000
Accumulated Depletion And Depreciation, Additions / Transfers	2,822,000	3,623,000
Accumulated Depletion And Depreciation, Ending Balance	27,254,000	25,085,000
Accumulated Depletion And Depreciation, Writedowns	(653,000)	(1,462,000)
Net book value	53,069,000	44,056,000
Mining Property [Member]
Statement [Line Items]
Beginning Balance	14,687,000	13,038,000
Additions/ Transfers	3,716,000	1,649,000
Writendowns	0	0
Effect Of Movements In Exchange Rates	(28,000)	0
Ending balance	18,375,000	14,687,000
Accumulated Depletion And Depreciation, Beginning Balance	9,106,000	8,856,000
Accumulated Depletion And Depreciation, Additions / Transfers	367,000	250,000
Accumulated Depletion And Depreciation, Ending Balance	9,473,000	9,106,000
Accumulated Depletion And Depreciation, Writedowns	0	0
Net book value	8,902,000	5,581,000
Computer equipment [member]
Statement [Line Items]
Beginning Balance	774,000	335,000
Additions/ Transfers	1,176,000	441,000
Writendowns	(22,000)	0
Effect Of Movements In Exchange Rates	1,000	(2,000)
Ending balance	1,929,000	774,000
Accumulated Depletion And Depreciation, Beginning Balance	598,000	267,000
Accumulated Depletion And Depreciation, Additions / Transfers	204,000	331,000
Accumulated Depletion And Depreciation, Ending Balance	781,000	598,000
Accumulated Depletion And Depreciation, Writedowns	(21,000)	0
Net book value	1,148,000	176,000
Buildings and construction in process [Member]
Statement [Line Items]
Beginning Balance	14,693,000	11,778,000
Additions/ Transfers	701,000	2,907,000
Writendowns	0	0
Effect Of Movements In Exchange Rates	(24,000)	8,000
Ending balance	15,370,000	14,693,000
Accumulated Depletion And Depreciation, Beginning Balance	3,029,000	1,896,000
Accumulated Depletion And Depreciation, Additions / Transfers	294,000	1,133,000
Accumulated Depletion And Depreciation, Ending Balance	3,323,000	3,029,000
Accumulated Depletion And Depreciation, Writedowns	0	0
Net book value	12,047,000	11,664,000
Office Equipment Furniture And Fixtures [Member]
Statement [Line Items]
Beginning Balance	763,000	595,000
Additions/ Transfers	78,000	185,000
Writendowns	(6,000)	0
Effect Of Movements In Exchange Rates	9,000	(17,000)
Ending balance	844,000	763,000
Accumulated Depletion And Depreciation, Beginning Balance	441,000	294,000
Accumulated Depletion And Depreciation, Additions / Transfers	111,000	147,000
Accumulated Depletion And Depreciation, Ending Balance	548,000	441,000
Accumulated Depletion And Depreciation, Writedowns	(4,000)	0
Net book value	296,000	322,000
Mine Machinery And Transportation Equipment [Member]
Statement [Line Items]
Beginning Balance	14,930,000	14,240,000
Additions/ Transfers	3,270,000	2,383,000
Writendowns	(629,000)	(1,692,000)
Effect Of Movements In Exchange Rates	2,000	(1,000)
Ending balance	17,573,000	13,930,000
Accumulated Depletion And Depreciation, Beginning Balance	5,178,000	4,944,000
Accumulated Depletion And Depreciation, Additions / Transfers	676,000	1,616,000
Accumulated Depletion And Depreciation, Ending Balance	5,235,000	5,178,000
Accumulated Depletion And Depreciation, Writedowns	(619,000)	(1,382,000)
Net book value	12,338,000	9,752,000
Mill Machinery And Processing Equipment [Member]
Statement [Line Items]
Beginning Balance	23,294,000	18,613,000
Additions/ Transfers	3,079,000	4,781,000
Writendowns	(141,000)	(100,000)
Effect Of Movements In Exchange Rates	0	0
Ending balance	26,232,000	23,294,000
Accumulated Depletion And Depreciation, Beginning Balance	6,733,000	6,667,000
Accumulated Depletion And Depreciation, Additions / Transfers	1,170,000	146,000
Accumulated Depletion And Depreciation, Ending Balance	7,894,000	6,733,000
Accumulated Depletion And Depreciation, Writedowns	(9,000)	(80,000)
Net book value	$ 18,338,000	$ 16,561,000

PLANT EQUIPMENT AND MINING PR_4

PLANT EQUIPMENT AND MINING PROPERTIES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
PLANT EQUIPMENT AND MINING PROPERTIES
Assets Under Construction	$ 3,166	$ 3,817
Property Plant Equipment, Write down	144	330
Property Plant Equipment, Net Carrying Amount	$ 5,832	$ 2,417

RELATED PARTY TRANSACTIONS AN_3

RELATED PARTY TRANSACTIONS AND BALANCES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Salaries, Benefits, And Consulting Fees	$ 1,184	$ 1,228
Share-based Payments	1,782	1,566
Total Key Management Personnel Compensation	$ 2,966	$ 2,794

RELATED PARTY TRANSACTIONS AN_4

RELATED PARTY TRANSACTIONS AND BALANCES (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Total amounts due to related parties	$ (167)	$ 28
Silver Wolf Exploration Ltd. [Member]
Statement [Line Items]
Due To Related Parties	(269)	(72)
Oniva International Services Corp. [Member]
Statement [Line Items]
Due To Related Parties	$ 102	$ 100

RELATED PARTY TRANSACTIONS AN_5

RELATED PARTY TRANSACTIONS AND BALANCES (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Salaries And Benefits	$ 1,184	$ 1,228
Office And Miscellaneous	1,399	647
Oniva International Services Corp. [Member]
Statement [Line Items]
Salaries And Benefits	953	878
Office And Miscellaneous	482	461
Total Cost	$ 1,435	$ 1,339

RELATED PARTY TRANSACTIONS AN_6

RELATED PARTY TRANSACTIONS AND BALANCES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Salaries, Benefits, And Consulting Fees	$ 1,184	$ 1,228
ICC [Member]
Statement [Line Items]
Salaries, Benefits, And Consulting Fees	$ 285	$ 326

NOTE PAYABLE (Details)

NOTE PAYABLE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 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		4,926
Less: Current portion	0	(4,926)
Non-current portion	$ 0	$ 0

NOTE PAYABLE (Details Narrative

NOTE PAYABLE (Details Narrative) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Discount Interest Rate	6.71%
Promissory Note Payable Issued	$ 5

WARRANT LIABILITY (Details)

WARRANT LIABILITY (Details) - Warrants [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Balance At Beginning Of The Year	$ 475	$ 741
Warrants Issued	0	2,240
Fair Value Adjustment	(478)	(2,395)
Effect Of Movement In Exchange Rates	3	(111)
Balance At End Of The Year	$ 0	$ 475

WARRANT LIABILITY (Details 1)

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

WARRANT LIABILITY (Details 2)

WARRANT LIABILITY (Details 2) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Weighted Average Assumptions:
Risk-free Interest Rate	0%	4.07%
Expected Dividend Yield	0%	0%
Expected Option Life (years)	0 years	8 months 23 days
Expected Stock Price Volatility	0%	56.80%
Weighted Average Fair Value	$ 0	$ 0.05

WARRANT LIABILITY (Details Narr

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

RECLAMATION PROVISION (Details)

RECLAMATION PROVISION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
RECLAMATION PROVISION
Balance At Beginning Of The Year	$ 445	$ 726
Changes In Estimates	1,615	(364)
Unwinding Of Discount Related To Continuing Operations	49	44
Effect Of Movements In Exchange Rates	86	39
Balance At End Of The Year	$ 2,195	$ 445

RECLAMATION PROVISION (Details

RECLAMATION PROVISION (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Management's estimate one [Member]
Statement [Line Items]
Risk Free Interest Rate	9.82%	9.65%
Inflation Rate	3.76%	7.82%
Management's Estimate [Member]
Statement [Line Items]
Reclamation Provision	$ 2,195	$ 445
Reclamation Provision Undiscounted Value	$ 5,491	$ 1,454

SHARE CAPITAL AND SHAREBASED _3

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details) - Stock options [Member] - $ / shares	12 Months Ended
	Dec. 31, 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		(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	5,959,750	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	$ 1.29	$ 0

SHARE CAPITAL AND SHAREBASED _4

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Stock options [Member]
Statement [Line Items]
Stock Options Exercisable	5,959,750	0
Stock Options Outstanding	6,666,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	3 years 18 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	3 years 10 days
Stock options [Member] | July 10, 2028 [Member]
Statement [Line Items]
Expiry Date	Jul. 10, 2028
Stock Options Exercisable	37,500
Exercise Price	$ 1.12
Stock Options Outstanding	150,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	4 years 6 months 10 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	4 years 6 months 10 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	7 months 20 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	7 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 7 months 2 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	1 year 7 months 2 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 2 months 23 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	3 years 2 months 23 days
Stock options [Member] | March 29, 2028 [Member]
Statement [Line Items]
Expiry Date	Mar. 29, 2028
Stock Options Exercisable	1,781,250
Exercise Price	$ 1.12
Stock Options Outstanding	2,375,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	4 years 3 months
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	4 years 3 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 4 months 2 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	3 years 4 months 2 days
Exercise price	$ 0.92

SHARE CAPITAL AND SHAREBASED _5

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details 2) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Expected warrant life (years)	0 years	8 months 23 days
Weighted Average Fair Value	$ 0	$ 0.05
Stock options [Member]
Statement [Line Items]
Risk-free Interest Rate	3.10%	2.49%
Expected Dividend Yield	0%	0%
Expected warrant life (years)	5 years	5 years
Expected Stock Price Volatility	61.10%	59.98%
Expected Forfeiture Rate	17%	20%
Weighted Average Fair Value	$ 0.60	$ 0.63

SHARE CAPITAL AND SHAREBASED _6

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details 3) - Restricted Share Units [Member] - $ / shares	12 Months Ended
	Dec. 31, 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	(1,005,334)	(982,879)
Cancelled / Forfeited	(68,943)	(64,932)
Stock Options Outstanding, Ending	2,994,709	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 SHAREBASED _7

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details 4)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Restricted Share Units [Member]
Statement [Line Items]
Stock Options Outstanding	2,994,709
Restricted Share Units [Member] | March 25, 2022 [Member]
Statement [Line Items]
Exercise Price | $ / shares	$ 1.19
Stock Options Outstanding	1,162,265
Restricted Share Units [Member] | March 29, 2023 [Member]
Statement [Line Items]
Exercise Price | $ / shares	$ 1.12
Stock Options Outstanding	1,763,124
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 SHAREBASED _8

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details 5) - Earning loss Per Share [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Net income for the period	$ 542	$ 3,096
Basic weighted average number of shares outstanding	121,261,696	114,372,371
Effect of dilutive share options, warrants, and RSUs ('000)	4,084,978	3,243,527
Diluted weighted average number of shares outstanding	125,346,674	117,615,898
Basic and diluted earnings per share	$ 0	$ 0.03

SHARE CAPITAL AND SHAREBASED _9

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Common Shares Issued	9,373,825	14,000,000
Gross Proceeds On Cash Commission	$ 155	$ 31
Cash commission	2.75%
Issuance shares costs	$ 339
Net proceeds from cash commission	5,493
Issuance of fair value		15
Proceeds from gross prospectus supplement	5,648
Fair Value Of Stock Options Granted, Share-based Payments	$ 924	$ 869
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		$ 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
Restricted Share Units [Member]
Statement [Line Items]
Share-based Payments for fair value	$ 1,345	$ 1,155

REVENUE AND COST OF SALES (Deta

REVENUE AND COST OF SALES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
REVENUE AND COST OF SALES
Concentrate Sales	$ 43,199	$ 43,648
Provisional Pricing Adjustments	690	539
Total Revenue	$ 43,889	$ 44,187

REVENUE AND COST OF SALES (De_2

REVENUE AND COST OF SALES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
REVENUE AND COST OF SALES
Production costs	$ 32,872	$ 26,749
Write down of equipment	414	330
Depreciation and depletion	2,784	2,046
Total cost	$ 36,070	$ 29,125

GENERAL AND ADMINISTRATIVE EX_3

GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Salaries and benefits	$ 1,506	$ 1,892
Office and miscellaneous	1,399	647
Professional fees	1,378	402
Management and consulting fees	436	451
Investor relations	245	227
Travel and promotion	170	70
Directors fees	187	182
Regulatory and compliance fees	164	170
Depreciation	135	140
General and administrative expenses	$ 5,620	$ 5,156

COMMITMENTS (Details)

COMMITMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Minimum Rental And Lease Payments	$ 5,920	$ 850
Later than five years [member]
Statement [Line Items]
Minimum Rental And Lease Payments	3,965	398
Not later than one year [member]
Statement [Line Items]
Minimum Rental And Lease Payments	714	105
1-5 years [member]
Statement [Line Items]
Minimum Rental And Lease Payments	$ 1,241	$ 347

COMMITMENTS (Details Narrative)

COMMITMENTS (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Office lease payments recognized as expense	$ 29	$ 18

SUPPLEMENTARY CASH FLOW INFORMA

SUPPLEMENTARY CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net change in non-cash working capital items:
Accounts payable and accrued liabilities	$ 2,832	$ 3,603
Prepaid expenses and other assets	(225)	(904)
Amounts receivable	(631)	(1,464)
Taxes payable	(768)	863
Amounts due to related parties	(196)	(127)
Taxes recoverable	(2,842)	71
Inventory	(2,931)	(998)
Net change in non-cash working capital	$ (4,761)	$ 1,044

SUPPLEMENTARY CASH FLOW INFOR_2

SUPPLEMENTARY CASH FLOW INFORMATION (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Interest paid	$ 227	$ 92
Taxes paid	37	14
Equipment acquired under finance leases and equipment loans	$ 264	$ 106

SUPPLEMENTARY CASH FLOW INFOR_3

SUPPLEMENTARY CASH FLOW INFORMATION (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Acquisition of La Preciosa, net of cash & transaction costs	$ 0	$ 21,535
Shares acquired under terms of option agreements	95	83
Transfer of share-based payments reserve upon exercise of RSUs	1,019	899
Transfer of share-based payments reserve upon option exercise	0	15
Transfer of share-based payments reserve upon option cancellation or expiry	61	831
Equipment acquired under finance leases and equipment loans	3,193	1,827
Non-cash investing and financing activities	$ 4,368	$ 25,190

FINANCIAL INSTRUMENTS (Details)

FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Accounts Payable And Accrued Liabilities	$ 11,867	$ 9,469
Equipment Loans	195	$ 0
Less Than One Year [Member]
Statement [Line Items]
Accounts Payable And Accrued Liabilities	11,867
Minimum rental and lease payments	714
Equipment Loans	188
Finance Lease Obligations	1,830
Total	14,599
Financial Instruments [Member]
Statement [Line Items]
Accounts Payable And Accrued Liabilities	11,867
Minimum rental and lease payments	5,920
Equipment Loans	405
Finance Lease Obligations	3,361
Total	21,553
1-5 years [member]
Statement [Line Items]
Accounts Payable And Accrued Liabilities	0
Minimum rental and lease payments	1,241
Equipment Loans	217
Finance Lease Obligations	1,531
Total	2,989
More Than 5 Years [Member]
Statement [Line Items]
Accounts Payable And Accrued Liabilities	0
Minimum rental and lease payments	3,965
Equipment Loans	0
Finance Lease Obligations	0
Total	$ 3,965

FINANCIAL INSTRUMENTS (Details

FINANCIAL INSTRUMENTS (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Long-term Investments	$ 934	$ 1,746
Amounts Receivable	3,303	2,672
Accounts Payable And Accrued Liabilities	11,867	9,469
Due To Related Parties	0	28
MXN [Member]
Statement [Line Items]
Cash	13,338	4,097
Due from related parties	4,558	1,402
Long-term Investments	0	0
Reclamation Bonds	0	0
Amounts Receivable	18,644	0
Accounts Payable And Accrued Liabilities	(95,662)	(85,486)
Due To Related Parties	0	0
Finance Lease Obligations	(1,129)	(161)
Net Exposure	(60,251)	(80,148)
Us Dollar Equivalent	(3,567)	(4,136)
CDN [Member]
Statement [Line Items]
Cash	70	250
Due from related parties	0	0
Long-term Investments	1,236	2,365
Reclamation Bonds	6	4
Amounts Receivable	26	34
Accounts Payable And Accrued Liabilities	(150)	(108)
Due To Related Parties	(135)	(135)
Finance Lease Obligations	(217)	(343)
Net Exposure	836	2,067
Us Dollar Equivalent	$ 577	$ 1,526

FINANCIAL INSTRUMENTS (Detail_2

FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Amounts Receivable	$ 3,303	$ 2,672
Long-term Investments	934	1,746
Level 1 of fair value hierarchy [member]
Statement [Line Items]
Cash	2,688	11,245
Amounts Receivable	0	0
Long-term Investments	934	1,746
Total Financial Assets	3,622	12,991
Level 2 of fair value hierarchy [member]
Statement [Line Items]
Cash	0	0
Amounts Receivable	3,303	2,672
Long-term Investments	0	0
Total Financial Assets	3,303	2,672
Level 3 of fair value hierarchy [member]
Statement [Line Items]
Cash	0	0
Amounts Receivable	0	0
Long-term Investments	0	0
Total Financial Assets	$ 0	0
Warrant liability		(475)
Total financial liabilities		$ (475)

FINANCIAL INSTRUMENTS (Detail_3

FINANCIAL INSTRUMENTS (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Cash	$ 2,688	$ 11,245
Current liabilities	$ 13,808	16,764
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	$ 2,688
Current liabilities	9,727
Foreign Currency Risk [Member]
Statement [Line Items]
Impact On Net Earning (loss)	304	275
Price Risk [Member]
Statement [Line Items]
Impact On Net Earning (loss)	134	65
Price Risk [Member] | Long-term investments [Member]
Statement [Line Items]
Impact On Net Earning (loss)	$ 86	$ 175

CAPITAL MANAGEMENT (Details)

CAPITAL MANAGEMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity	$ 106,001	$ 98,021	$ 78,507
Note payable	0	4,926
Equipment loan obligations	359	0
Finance lease obligations	3,095	1,716
Total capital	$ 109,455	$ 104,663

SEGMENTED INFORMATION (Details)

SEGMENTED INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Silver	$ 16,642	$ 16,570
Gold	20,361	25,875
Copper	13,137	10,258
Penalties, Treatment Costs And Refining Charges	(6,251)	(8,516)
Total Revenue From Mining Operations	$ 43,889	$ 44,187

SEGMENTED INFORMATION (Details

SEGMENTED INFORMATION (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Customer 1	$ 35,053	$ 39,911
Customer 2	8,675	0
Customer 3	161	3,479
Other Customer	0	797
Total Revenue From Mining Operations	$ 43,889	$ 44,187

SEGMENTED INFORMATION (Detail_2

SEGMENTED INFORMATION (Details 2) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Exploration And Evaluation Assets - Mexico	$ 50,110	$ 49,803
Exploration And Evaluation Assets - Canada	1	1
Total Exploration And Evaluation Assets	$ 50,111	$ 49,804

SEGMENTED INFORMATION (Detail_3

SEGMENTED INFORMATION (Details 3) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Plant, Equipment And Mining Properties - Mexico	$ 52,891	$ 43,812
Plant, Equipment And Mining Properties - Canada	178	244
Total Plant, Equipment And Mining Properties	$ 53,069	$ 44,056

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
INCOME TAXES
Current income tax expense	$ (527)	$ 1,144
Deferred income tax recovery	(525)	3,440
Total income tax expense (recovery)	$ (1,052)	$ 4,584

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
INCOME TAXES
Net loss from continuing operations before income taxes	$ (510)	$ 7,680
Combined statutory tax rate	27%	27%
Income tax expense (recovery) at the Canadian statutory rate	$ (138)	$ 2,074
Reconciling items:
Effect of difference in foreign tax rates	57	326
Non-deductible/non-taxable items	892	1,205
Change in unrecognized deductible temporary differences	(334)	1,169
Impact of foreign exchange	(1,574)	(351)
Special mining duties	157	385
Revisions to estimates	(19)	(215)
Share issue costs	(136)	(3)
Other items	43	(6)
Income tax expense recognized in the year	$ (1,052)	$ 4,584

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
INCOME TAXES
Deferred income tax assets	$ 2,034	$ 1,426
Deferred income tax liabilities	(6,730)	(6,647)
Total deferred income tax assets and liabilities	$ (4,696)	$ (5,221)

INCOME TAXES (Details 3)

INCOME TAXES (Details 3) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement [Line Items]
Exploration and evaluation assets	$ 50,111,000	$ 49,804,000	$ 11,053,000
Plant, equipment and mining properties	53,069,000	44,056,000
Deferred income tax assets and liabilities [Member]
Statement [Line Items]
Reclamation provision	979,000	167,000
Other deductible temporary differences	1,055,000	1,259,000
Exploration and evaluation assets	(3,054,000)	(3,310,000)
Plant, equipment and mining properties	(3,676,000)	(2,337,000)
Net deferred income tax liabilities	$ (4,696,000)	$ (5,221,000)

INCOME TAXES (Details 4)

INCOME TAXES (Details 4) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Plant, equipment and mining properties	$ 53,069	$ 44,056
Unrecognized deductible temporary differences [Member]
Statement [Line Items]
Tax losses carried forward - Canada	20,468	20,370
Tax losses carried forward - Mexico	50,889	42,575
Share issue costs	815	841
Plant, equipment and mining properties	511	411
Exploration and evaluation assets	1,174	1,156
Investments	2,267	1,289
Unrecognized deductible temporary differences	$ 76,124	$ 66,642

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Non-cash expense	$ 30	$ 408
Capital losses carried forward	7,919
Canadian [Member]
Statement [Line Items]
Non-capital tax losses carried forward	$ 12,549
Non-capital losses expiry date range	2024 to 2043
Mexican [Member]
Statement [Line Items]
Non-capital tax losses carried forward	$ 50,889
Non-capital losses expiry date range	2024 to 2033

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) $ in Thousands	1 Months Ended
	Dec. 31, 2023 USD ($) shares
SUBSEQUENT EVENTS
Issue of common share | shares	1,886,248
Gross proceeds from issue of share | $	$ 900