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SEGMENTED INFORMATION | 12 Months Ended
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Dec. 31, 2025
SEGMENTED INFORMATION | 20) SEGMENTED INFORMATION The Company reviews its segment reporting to ensure it reflects the operational structure of the Company and enables the Company's Chief Operating Decision Maker (the Company’s CEO) to review operating segment performance at the mine operating income or loss level, as well as on the basis of total comprehensive income. Effective December 31, 2025, it was determined that the Company has two reportable operating segments, located in Mexico (Avino and La Preciosa). The Company also has a Corporate segment located in Canada. Revenues, cost of sales, operating expenses, other items and income taxes are attributed to the operation in which they arise. Segment results are presented net of intersegment transactions where services are performed on behalf of other segments within the Company. There are no amounts unallocated to reportable segments. In 2024, the Company only had one reportable segment. Following this change in the composition of reportable segments, the Company has restated the corresponding segment information as at and for the year ended December 31, 2024, and the information as at December 31, 2024. The following table represents the statement of operations and other comprehensive income by segment:
For the year ended December 31 |  |  |  | Revenue |  |  | Cost of sales - production costs |  |  | Cost of sales - depreciation |  |  | Cost of sales - other |  |  | Mine operating income |  |  | Total comprehensive income |
Mexico |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Avino |  | 2025 |  | $ | 90,446 |  |  | $ | 38,587 |  |  | $ | 3,549 |  |  | $ | 593 |  |  | $ | 47,717 |  |  | $ | 38,103 |
|  | 2024 |  |  | 65,398 |  |  |  | 38,052 |  |  |  | 3,233 |  |  |  | 1,144 |  |  |  | 22,969 |  |  |  | 12,451 |
La Preciosa |  | 2025 |  |  | 1,781 |  |  |  | 963 |  |  |  | - |  |  |  | - |  |  |  | 818 |  |  |  | 822 |
|  | 2024 |  |  | 780 |  |  |  | 548 |  |  |  | - |  |  |  | - |  |  |  | 232 |  |  |  | 233 |
Canada |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | 2025 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (10,511 | )
|  | 2024 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (5,411 | )
Consolidated |  | 2025 |  | $ | 92,227 |  |  | $ | 39,550 |  |  | $ | 3,549 |  |  | $ | 593 |  |  | $ | 48,535 |  |  | $ | 28,414 |
|  | 2024 |  | $ | 66,178 |  |  | $ | 38,600 |  |  | $ | 3,233 |  |  | $ | 1,144 |  |  | $ | 23,201 |  |  | $ | 7,273 |
The following table represents information from the consolidated statement of financial position by segment:
As at December 31 |  |  |  | PP&E assets (including mineral properties |  |  | E&E assets |  |  | Total mining assets |  |  | Total assets |  |  | Total liabilities |
Mexico |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Avino |  | 2025 |  | $ | 59,892 |  |  | $ | 15,699 |  |  | $ | 75,591 |  |  | $ | 116,941 |  |  | $ | 28,390 |
|  | 2024 |  |  | 52,346 |  |  |  | 15,992 |  |  |  | 68,337 |  |  |  | 92,907 |  |  |  | 20,569 |
La Preciosa |  | 2025 |  |  | 65,154 |  |  |  | - |  |  |  | 65,154 |  |  |  | 73,626 |  |  |  | 6,389 |
|  | 2024 |  |  | 1,053 |  |  |  | 36,898 |  |  |  | 37,951 |  |  |  | 38,794 |  |  |  | 2,330 |
Canada |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | 2025 |  |  | 319 |  |  |  | - |  |  |  | 319 |  |  |  | 88,465 |  |  |  | 10,022 |
|  | 2024 |  |  | 402 |  |  |  | - |  |  |  | 402 |  |  |  | 17,009 |  |  |  | 413 |
Consolidated |  | 2025 |  | $ | 125,365 |  |  | $ | 15,699 |  |  | $ | 141,064 |  |  | $ | 279,032 |  |  | $ | 44,801 |
|  | 2024 |  | $ | 53,801 |  |  | $ | 52,890 |  |  | $ | 106,691 |  |  | $ | 148,711 |  |  | $ | 23,312 |
On the consolidated statements of operations and other comprehensive income, the Company had revenue from the following product mixes, all deriving from its Mexico operations:
|  | 2025 |  |  | 2024 |
Silver |  | $ | 42,069 |  |  | $ | 28,284 |
Copper |  |  | 27,603 |  |  |  | 27,437 |
Gold |  |  | 27,362 |  |  |  | 16,962 |
Penalties, treatment costs and refining charges |  |  | (4,807 | ) |  |  | (6,505 | )
Total revenue from mining operations |  | $ | 92,227 |  |  | $ | 66,178 |
For the years ended December 31, 2025 and 2024, the Company had the following customers that accounted for total revenues as follows:
|  | 2025 |  |  | 2024 |
Customer #1 |  | $ | 87,761 |  |  | $ | 58,754 |
Customer #2 |  |  | 3,194 |  |  |  | 6,218 |
Other customers |  |  | 1,272 |  |  |  | 1,206 |
Total revenue from mining operations |  | $ | 92,227 |  |  | $ | 66,178 |

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- Definition The disclosure of operating segments. [Refer: Operating segments [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2024-01-01 -Paragraph 23 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_23&doctype=Standard -URIDate 2024-03-27 + Details
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