Latitude Consolidated Limited announced the signing of a binding term sheet with MGK Resources Pty Ltd. for the acquisition of 100% of the issued capital of MGK which holds the Quinns and Mt Ida South Gold Projects, located approximately 110 km west of Leonora in the Eastern Goldfields of Western Australia. The company confirmed the appointment of Michael Edwards, a consultant to the Company, as acting chief executive officer. Mr. Edwards will move to a more permanent position contingent upon the successful acquisition of MGK and the finalization of a contract of employment. Michael Edwards is a Geologist and Economist with over 20 years' experience in Senior Management in both the private and public sector. Mr. Edwards has served as CEO and Director with a number of ASX listed resource exploration companies.