Pan American Silver Corp. and its subsidiary companies (Pan American) are engaged in silver mining and related activities, including exploration, extraction, processing, refining and reclamation. The Company’s primary product (silver) is produced in Peru, Mexico and Bolivia. The Company has project development activities in Argentina, Mexico and Bolivia, and exploration activities throughout South America, and Mexico. The products of the Company includes zinc, silver, lead and copper, which are produced from mines located in Mexico, Peru and Bolivia. During the year ended December 31, 2008, Pan American produced 18.7 million ounces of silver. The Alamo Dorado silver mine in Mexico produced 6.1 million ounces of silver in 2008. The Company produced 25,000 ounces of gold in 2008. In 2008, the Company completed the construction of Manatial Espejo in Argentina, Pan American’s seventh Mine.