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RELATED PARTY TRANSACTIONS AND BALANCES

3 Months Ended

Mar. 31, 2023

11.

RELATED PARTY TRANSACTIONS AND BALANCES

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

(a)

Key management personnel

The Company has identified its directors and certain senior officers as its key management personnel. The compensation costs for key management personnel for the three months ended March 31, 2023 and 2022 is as follows:

	Three months ended March 31,
	2023		2022
Salaries, benefits, and consulting fees	$	284	$	439
Share‐based payments		321		157
	$	605	$	596

(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 related parties:

	March 31, 2023			December 31, 2022
Oniva International Services Corp.	$	100		$	100
Silver Wolf Exploration Ltd.		(77	)		(72	)
Directors Fees		44			-
	$	67		$	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 three months ended March 31, 2023, the Company paid $71 (March 31, 2022 - $126) 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. 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 three months ended March 31, 2023 and 2022 are summarized below:

	March 31, 2023		March 31, 2022
Salaries and benefits	$	245	$	220
Office and miscellaneous		133		97
	$	378	$	317