Exhibit EX-99.08

ISSUER DETAILS:

FOR QUARTER ENDED

DATE OF REPORT

NAME OF ISSUER

Avino Silver & Gold Mines Ltd.

January 31, 2002

July 4, 2002

ISSUER ADDRESS:

Suite 400, 455 Granville Street

CITY

PROVINCE

POSTAL CODE

ISSUER FAX NO.

ISSUER TELEPHONE NO.

Vancouver,

B.C.

V6C 1T1

(604) 682-3600

(604) 682-3701

CONTACT PERSON

CONTACT’S POSITION

CONTACT TELEPHONE NO.

Andrea Regnier

Accountant

(604) 682-3701

The three schedules required to complete this Quarterly Report are attached and the disclosure contained therein has been approved by the Board of Directors. A copy of this Quarterly Report will be provided to any shareholder who requests it.


DIRECTOR’S SIGNATURE		DATE SIGNED

Signed:		02/07/04

“LOUIS WOLFIN”

DIRECTOR’S SIGNATURE		DATE SIGNED

Signed:		02/07/04

“ERNEST CALVERT”

SCHEDULE “B”
SUPPLEMENTARY INFORMATION
BRITISH COLUMBIA SECURITIES COMMISSION
FORM 51-901F QUARTERLY REPORT

Type of

Date of issue

Type of security

Type of issue

Number/ Amount

Price

Total Proceeds

Consideration

Nil

Class

Par Value

Authorized Number

ISSUED Number

Amount

Common

No Par Value

25,000,000

5,463,525

12,931,787

OPTIONS, WARRANTS AND CONVERTIBLE SECURITIES OUTSTANDING
AS AT JANUARY 31, 2002

Security

Amount

Exercise or Convertible Price

Expiry Date

Options

350,000

$0.60 per share

02/03/2003


ERNEST CALVERT, Director		MICHAEL BAYBAK, Director

WILLIAM GLASIER, Director		GEORGE SCOTT, Director

DAVID WOLFIN, Director		LOUIS WOLFIN, President & Director

WILLIAM KOCKEN, Director		Andrea Regnier, Secretary

AVINO SILVER & GOLD MINES LTD.
MANAGEMENT’S DISCUSSION & ANALYSIS For
the year ended January 31, 2002

The Company’s present principal business activities have been the exploration and development of mineral properties located in the Lillooet Mining District of British Columbia, and specifically referred to as the Bralorne Gold Mines. The Company also has a 49% equity interest in a silver mine located in Durango, Mexico.

The Company has not yet determined whether its mineral properties contain ore reserves that are economically recoverable. The recoverability of amounts shown for mineral properties is dependent upon the discovery of economically recoverable ore reserves in its mineral properties, the ability of the Company to obtain the necessary financing to complete development, confirmation of the Company’s interest in the underlying mineral claims and leases and upon future profitable production or sufficient proceeds from the disposition of its mineral properties.

The Company is continually investigating new exploration opportunities, and mineral exploration is carried out on properties identified by management of the company as having favorable exploration potential. Interests in such properties are acquired in various ways. In some cases the Company, through its own efforts, stakes mineral claims or acquires exploration permits. In other cases the Company acquires interest in mineral properties from third parties. An acquisition from a third party is typically made by way of an option agreement which requires the Company to make specified option payments and to incur a specified amount of exploration expenditures on the property within a given time in order to earn an interest in the property. Most option agreements provide that once the Company has made the required option payments and incurred the specified exploration expenditures, the parties will enter into a joint venture requiring each party to contribute towards future exploration and development costs based on its percentage interest in the property, or suffer dilution of its interest.

The Company advances its projects to varying degrees by prospecting, mapping, geophysics, and drilling. Once a property is determined to have limited exploration potential the property is abandoned or sold. In cases where exploration work on the property reaches a stage where the expense and risk of further exploration and development are too high the Company may seek a third party to earn an interest by furthering the development. Optioning a property to a third party allows the Company to retain an interest in further exploration and development while limiting its obligation to commit large amounts of capital to any one project. The mineral exploration business is high risk and most exploration projects will not become mines.

Mineral exploration and development involve a high degree of risk and few properties are ultimately developed into producing mines. There is no assurance that the Company’s future exploration and development activities will result in any discoveries of commercial bodies of ore. Whether an ore body will be commercially viable depends on a number of factors including the particular attributes of the deposit such as size, grade and proximity to infrastructure, as well as mineral prices and government regulations, including regulations relating to prices, taxes, royalties, land tenure, land use, importing and exporting of minerals and environmental protection. The exact effect of these factors cannot be accurately predicted, but the combination of these factors may result in a mineral deposit being unprofitable.

The market price of metals is highly speculative and volatile. Instability in metal prices may affect the interest in mining properties and the development of and production from such properties. During the past few years the price of precious metals has substantially decreased. If the decline continues, this may adversely affect the Company’s ability to raise capital to explore for existing and new mineral properties.

The mining industry in which the Company is engaged is in general, highly competitive. Competitors include well-capitalized mining companies, independent mining companies and other companies having financial and other resources far greater than those of the Company. The Company competes with other mining companies in connection with the acquisition of gold and other precious metal properties. In general, properties with a higher grade of recoverable mineral and/or which are more readily minable afford the owners a competitive advantage in that the cost of production of the final mineral product is lower. Thus, a degree of competition exists between those engaged in the mining industry to acquire the most valuable properties. As a result, the Company may eventually be unable to acquire attractive mining properties.

The Company reports a net loss of Cdn $3,290,582, or $0.68 per share, for the year ended January 31, 2002, compared to a net loss of $1,118,491 or $0.24 per share, for the year ended January 31, 2000. The Company had no operating revenues. The company recorded an equity loss in Cia Minera of $1,259,438 to reduce the carrying value to a nominal $1 given that the production operations are uneconomical at present and have shut down. The Company also wrote-down the Bralorne/Loco project by $728,513 to $1,600,000, being the book value of limited recourse debt secured by the property net of its share of sundry current assets of the joint venture. Subsequent to the year-end, Avino transferred all of its interest in the Bralorne project to Bralorne-Pioneer Gold Mines Ltd., together with the liabilities under the debentures for unpaid principal and accrued interest. The Company wrote-down the investment in Levon Resources Ltd. by $2,824 to quoted market value of $4,236 at January 31, 2002. The Company recorded a loss on Foreign exchange of $120.268, and accrued interest on the debentures of $105,294 during the year. The balance of the loss $137,853 was administrative expenses.
Cia Minera

The Company has a 49% interest in the issued common shares of Cia Minera Mexicana de Avino (“Cia Minera”). Cia Minera holds a 100% interest in a silver producing mine. During the year, Cia Minera recorded a loss of $2,217,240 of which the company records a 49% equity interest. During the year, the mine went into temporary closure until market prices for silver improves. Cia Minera has determined that the price of silver, which is the main metal recovered, must reach and maintain U.S.$5.50 per ounce before the mine will reopen. The mine does not have a current feasibility report nor has it conducted enough exploration to determine the expected life of the mine. The last estimate Cia Minera obtained was in 1998 and at that time the expected life of the Mine was three years.

During the year, Coral Gold Corp. terminated its option to purchase a 25% interest in Avino 50% interest in the Bralorne and Loco Option properties. Subsequent to the year-end, Avino transferred all of its interest in the Bralorne project to Bralorne-Pioneer Gold Mines Ltd. together with the liabilities under the debentures for unpaid principal and accrued interest.

Under a five year Management Consulting Agreement dated August 1, 1997 between the Company and Frobisher Securities Inc., a private company controlled by the President of the Company, the Company pays Frobisher a remuneration of $2,500 per month plus out of pocket expenses. In the event of a change of control of Avino, the resignation or removal of Mr. Wolfin, the full amount of the remaining payments becomes due. Included in the amounts payable is $20,422 due under this agreement.

The Company has a contract with Oniva International Services Corp. a private company owned by Avino and three other affiliated companies, whereby Oniva provides administrative services to Avino.

At this time, the Company has no operating revenues, and does not anticipate any operating revenues until the Company is able to find, acquire, place in production and operate a profitable mining property. Historically, the Company has raised funds through equity financing and the exercise of options and warrants to fund its operations.

The Company has a working capital deficiency of $358,812 at January 31, 2002. The Company will need to re-finance in order to maintain operations.