Label sourses are indicating that Taylor Swift's third studio album, Speak Now is set to sell over 1 million copies in it's first week in the US and lock in a #1 debut on the Billboard 200 chart.

While Nielsen SoundScan's official first-week tally won't arrive until late tonight, all signs point to a historic debut. (SoundScan's trackingweek runs through the close of business on Sunday, and their numbers, which are reflected in Billboard's sales charts, are reported each Wednesday.)

If Speak Now starts with 1 million, it would instantly be the best sales week for a single album since Lil Wayne's Tha Carter III bowed with 1,006,000 June of 2008. And we're hearing that the album's launch might even be bigger than "Carter III." That could mean Speak Now would have the biggest week for an album in over five years, scrolling all the way back to March of 2005 when 50 Cent's The Massacre slayed the #1 spot with 1,141,000 sold, according to SoundScan.

Check out Taylor Swift's brand new music video 'Mine' from the new album Speak Out.

Taylor Swift's new single 'Mine' has been leaked online and has been rush released for online sale in the US.

"An unauthorized low-quality mp3 file of the single appeared online earlier today. As the low-quality file started to spread virally the decision was made to rush release “Mine" to iTunes and Country radio to ensure that Taylor’s fans were able to hear the single as she intended" said Swift's record company Big Machine Records earlier today."

Within hours of release to Country Radio in the US, the new track has jumped to #35 on the Billboard Country Radio singles chart.

UPDATE: The track has now also been rushed to Australian radio and online stores.

It's official...  Taylor Swift will release her third studio album, Speak Now  at the end of October.  She announced these details Tuesday with her fans on Ustream. 

The album's first single, 'Mine,' will be released around mid-August.

"Ever since we put out 'Fearless' I've been writing this one," said Swift, who added that "Speak Now" will consist of about 14 songs. "Through the past two years, I've been through a lot of things that I have been dying to write about and talk about. There were a lot of things that I wanted to say in the moment but couldn't, and this album is my opportunity to do that.

Swift co-produced the album with Nathan Chapman, whom she collaborated with on her first two albums.