EX-99.1 2 exhibit1.htm EX-99.1 Exhibit  EX-99.1

British Columbia Securities Commission
QUARTERLY REPORT
FORM 51-901F

                                     
NAME OF ISSUER
  FOR QUARTER ENDED
  DATE OF REPORT
 
                                   
Avino Silver & Gold Mines Ltd.
  April 30, 2003
  June 27, 2003
 
                                   
 
                                   
 
                                   
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
 
                                   
 
                                   
 
                                   
E-MAIL ADDRESS:
  WEB SITE ADDRESS:
 
                                   
dawnpacific@telus.net
  www.avino.com
 
                                   
 
   

CERTIFICATE

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:
 
 
   
“Louis Wolfin”
  03/06/27
 
   
DIRECTOR’S SIGNATURE
  DATE SIGNED
 
   
 
   
 
   
Signed:
 
 
   
“Louis Wolfin”
  03/06/27

1

AVINO SILVER & GOLD MINES LTD.
Balance Sheet
(Unaudited — Prepared by Management)

                 
ASSETS   April 30,   January 31,
    2003   2002
 
  $       $    
Current assets
               
Cash
    28,474       20,104  
Accounts receivable and prepaid expense
    13,860       3,040  
Due from related parties
    160,316       160,316  
 
               
 
    202,650       183,460  
Mineral property
    204,001       204,001  
Investment in Mexican affiliate
    1       1  
Investment in related companies
    427,084       427,084  
 
               
 
    834,171       814,546  
LIABILTIIES
               
Current Liabilities
               
Accounts payable and accrued liabilities
    17,922       15,927  
Due to related parties (Note 5c)
    370,699       364,143  
 
               
 
    388,621       380,070  
SHAREHOLDERS’ EQUITY
               
Capital stock (Note 3)
    13,394,627       13,346,387  
Contributed surplus
    184,967       184,967  
Deficit
    (13,032,175 )     (12,995,009 )
 
               
 
    547,419       536,345  
Deduct: 14,180 shares held for future disposition-at cost
    (101,869 )     (101,869 )
 
               
 
    445,550       434,476  
 
               
 
    834,171       814,546  

On Behalf of the Board
Signed:
“Louis Wolfin”
     Director
“David Wolfin”
     Director

2

AVINO SILVER & GOLD MINES LTD.
Statement of Operations and Deficit (Unaudited — Prepared by Management)

                 
    3 Months
    April 30,
    2003   2002
 
  $       $    
 
               
Expenses:
               
Amortization of deferred exchange loss
           
Audit and accounting fees
    4,250       13,154  
Auto expense
    2,710        
Consulting fees
    2,000          
Interest expense
          26,180  
Foreign exchange
          (23,019 )
Shareholder communications and investor relations
    1,612       2,654  
Legal fees
            4,572  
Listing and filing fees
    3,350       3,673  
Management fees
    7,500       7,500  
Miscellaneous property investigation
    2,943        
Office and administration
    4,741       35  
Salaries and benefits
    6,037          
Transfer agent
    1,488       1,737  
 
    (37,230 )     (36,486 )
Less: interest income
    65        
Loss for the period
    (37,166 )     (36,486 )
Deficit, beginning of period
    (12,995,009 )     (12,808,018 )
Deficit, end of period
    (13,032,175 )     (12,844,504 )
Loss per share
  $ (0.01 )   $ (0.01 )

3

AVINO SILVER & GOLD MINES LTD.
Statement of Cash Flows
(Unaudited — Prepared by Management)

                 
    3 Months
    October 31
    2003   2002
 
  $       $    
CASH PROVIDED BY (USED IN)
               
 
               
Operating Activities:
               
Loss for the period
    (37,166 )     (36,486 )
Items not requiring cash:
               
Foreign exchange
          (23,019 )
Interest expense on debentures
          26,180  
 
               
 
    (37,166 )     (33,325 )
Changes in non-cash working capital items:
               
Amounts receivable and prepaid expense
    (10,860 )     1,094  
Accounts payable and accrued liabilities
    2,035       13,745  
 
               
 
    (45,991 )     (18,486 )
 
               
Financing activities:
               
Issue of capital stock for cash
    45,240        
Due to Bralorne Pioneer Gold Mines
           
Due to related parties
    6,557       19,775  
Debentures payable
           
 
               
 
    51,797       19,775  
 
               
Investing activities:
               
Mineral property interests
          2,775  
Purchase of computer equipment
    (436 )        
 
               
 
          2,775  
Increase (decrease) in cash
    5,370       (1,486 )
Cash, beginning of period
    23,104       1,317  
Cash, end of period
    28,474       (169 )
 
               

4

AVINO SILVER & GOLD MINES LTD.
Notes to Financial Statements
April 30, 2003

1. Basis of Presentation

These unaudited financial statements have been prepared in accordance with the instructions for the preparation of such financial statements contained in the CICA Handbook Section 1751. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such instructions. These unaudited Financial Statements should be read in conjunction with the Audited Financial Statements and Notes thereto for the fiscal year ended January 31, 2003.

2. Comparative Figures

Certain of the prior years comparative figures have been reclassified to conform to the presentation adopted for the current year.

3. Share Capital

a) Authorized 25,000,000 common shares without par value

b) Issued:

                                 
    April 30
    2003   2002
 
  Number of Shares
  Amount   Number of Shares
  Amount
Balance, beginning of period
    6,188,525     $ 13,327,947       5,463,525     $ 12,931,788  
Issued during the period: for cash
    78,000       45,240              
Balance, end of period
    6,266,525     $ 13,373,187       5,463,525     $ 12,931,788  

  c)   During the period 78,000 options were exercised at a price of $0.58 per share.

4. Related Party Transactions

Related party transactions not disclosed elsewhere in these statements are as follows:

  a)   During the period the company paid, or made provision for the future payment of the following amounts to related parties:

  i)   $25,032 to a private company controlled by two directors of the Company for administrative expenses

  ii)   $7,500 (2001-$7,500) to a private company controlled by a Director for Management fees.

5. Related Party Transactions, continued

  b)   Due from related parties comprise $160,316 due from companies with common Director’s for exploration expenses.

c) Due to related parties consist of

  i)   $257,171 due to a private company controlled by two directors as disclosed in 4.a)i) above;

  ii)   $61,029 due to a private company controlled by a Director for Management fees;

  iii)   $52,500 due to a Director of the company for a cash loan made to the Company.

5