Visible Gold Mines Inc. announced that it has entered into an Asset Purchase Agreement with Cadillac West Explorations Inc. pursuant to which it will acquire a 40% undivided ownership interest in 148 mining claims comprising the Cadillac East Project located near Rouyn-Noranda in the Province of Québec (the "Property"). Visible Gold Mines already owns a 60% interest in the Property. In order for Visible Gold Mines to acquire the remaining 40% interest in the Property, Visible Gold Mines will be required to issue 750,000 common shares to Cadillac West Explorations Inc.