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RECLAMATION PROVISION

3 Months Ended

Mar. 31, 2025

RECLAMATION PROVISION

RECLAMATION PROVISION

11. RECLAMATION PROVISION

Management’s estimate of the reclamation provision at March 31, 2025, is $2,119 (December 31, 2024 – $2,062), and the undiscounted value of the obligation is $4,845 (December 31, 2024 – $4,825).

The present value of the obligation was calculated using a risk-free interest rate of 9.70% (December 31, 2024 – 9.70%) and an inflation rate of 3.69% (December 31, 2024 – 3.69%). Reclamation activities are estimated to begin in 2027 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:

		March 31, 2025				December 31, 2024
Balance at beginning of the period		$	2,062			$	2,195
Changes in estimates			-				84
Unwinding of discount			48				197
Effect of movements in exchange rates			9				(414	)
Balance at end of the period		$	2,119			$	2,062

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- References

No definition available.

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- Definition

The disclosure of provisions. [Refer: Provisions]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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-IssueDate 2023-01-01
-Paragraph 10
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-URIDate 2023-03-23

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