Avino’s 8.4 Million Share Buyback Signals Confidence and Flexibility in 2026 Capital Strategy

Share Repurchase Plan Targets Up to 5% of Outstanding Shares

Avino Silver & Gold Mines Ltd. (TSX: ASM, NYSE: ASM, FSE: GV6) has announced that it will be repurchasing up to 8,428,566 of its common shares—about 5% of its total outstanding shares—under a Normal Course Issuer Bid (NCIB) approved by the Toronto Stock Exchange. The buyback authorization starts on April 8, 2026, and runs for up to twelve months, giving management a powerful and flexible tool to optimize capital allocation as market conditions evolve.

Management’s Move Underscores Commitment to Shareholder Value Amid Strong Position

According to CEO David Wolfin, Avino is launching the buyback in part due to strong recent performance and a belief that its share price may not fully reflect the company’s underlying value and long-term potential. Importantly, management expects 2026 free cash flow will be sufficient to support the planned repurchases, underscoring Avino’s confidence in its operational and financial footing. All shares purchased under the NCIB will be immediately canceled, increasing the value of shares remaining in the market.

Strict Daily Limits and Automatic Purchase Plan Enhance Flexibility

The NCIB allows Avino to purchase shares at prevailing market prices through the TSX, NYSE American, and eligible alternative trading systems. Daily purchases on the TSX are capped at 248,266 shares—25% of the six-month average daily trading volume—except when larger block purchases are executed. This disciplined approach ensures that buybacks do not disrupt regular trading activity.

Additionally, Avino has entered into an automatic share purchase plan (ASPP), enabling pre-set repurchases during blackout periods when management may otherwise be restricted. This innovation adds further flexibility, allowing the company to act swiftly even when regulatory windows are closed.

Capital Allocation Signals Management’s Long-Term Confidence

This move comes after Avino’s share price has experienced significant strength over the past nine months and follows its recognition as the fifth-ranked company on the TSX30™ 2025 list. Management views the NCIB as part of a broader capital allocation program, stating that opportunistically repurchasing shares at certain price levels could enhance overall shareholder returns.

The company retains full flexibility regarding the timing and amount of buybacks, with all purchases to be evaluated based on share price, market conditions, and available cash. There is no obligation to buy any specific number of shares, and Avino may suspend or discontinue the program as market conditions dictate.

Looking Ahead: Share Repurchase as a Shareholder Value Lever

For investors, the newly authorized buyback may serve as both a vote of confidence from Avino’s leadership and a sign that management believes the current market value underestimates the company’s long-run prospects. As the company continues to deliver operational milestones—from advancing its oxide tailings project to maintaining sustainable mining practices—this buyback could help bridge any disconnect between market valuation and underlying fundamentals.

With disciplined controls around timing, daily volumes, and blackout periods, Avino’s NCIB stands as a measured yet flexible lever for shareholder value as the company enters another year of growth and execution.

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