Jaguar Mining Inc. (Jaguar) is engaged in gold production and in the acquisition, exploration, development and operation of gold producing properties in the Iron Quadrangle region of Brazil, a greenstone belt located near the city of Belo Horizonte in the state of Minas Gerais. Through a joint venture with Xstrata plc (Xstrata), the Company is also engaged in gold exploration at a greenfield site in the northeast of Brazil covering 159,000 acres. The Company is producing gold at its Turmalina, Paciencia and Sabara operations. During the year ended December 31, 2008, the Company produced a total of 115,348 ounces of gold at Turmalina, Paciencia and Sabara.