Liberty Mines Inc (TSX:LBE) said today it has entered into a binding term sheet with QMX Gold Corporation (TSX:QMX) to acquire the Snow Lake gold project in Manitoba, for a cash payment of US$20 million.

As quoted in the market news:

The completion of this transaction will position Liberty Mines as a near term gold producer with two fully permitted mills located in two leading Canadian gold camps.

Click here for the full press release by Liberty Mines Inc (TSX:LBE)