According to the information forwarded by a “multitude” of anonymous sources to All Things D’s Kara Swisher, Facebook will likely unveil a new location-sharing feature, for its 500 million-plus users, on Wednesday, during a press conference at its Palo Alto, California, headquarters.

Despite the fact that the speculations have been making rounds about Facebook’s potential introduction of the geo-location feature, the service has thus far not been rolled out by the popular social networking company.

Though the information from the sources apprising All Things D have substantiated their earlier reports, they have not been able to reveal any further details about what Facebook’s new location service would be like. However, it is quite likely that the main way Facebook users will be able to share their location will be via their mobile devices.

Apparently, Facebook is adding the geo-location feature to its site in an attempt to capitalize on its increasing popularity.

Going by an estimate by Borrell Associates, location-based services, which essentially allow users share information on their whereabouts and find friends nearby, would probably generate as much as an annual $4.1 billion in advertising by 2015.

Noting that location-sharing features help marketers target customers more easily, a San Francisco-based Forrester Research analyst Augie Ray said: “Facebook already has done a great job of growing its advertising products. This (geo-location) is just another piece of information that will help it do a better job of that.”