This paper deals with the localization of multiple sources from two-channel mixtures recorded in a reverberant environment. We introduce new angular spectrum-based methods relying on the signal-to-noise ratio (SNR) to estimate the time difference of arrival (TDOA) of each source. We propose and compare five ways of estimating the SNR in each time-frequency point and in each direction, using beamforming techniques and statistical models. Large-scale evaluation considering a high number of situations shows the effectiveness of the proposed approach compared to state-of-the-art angular spectrum-based techniques.