The former Guns N' Roses guitarist is currently in the studio recording with drummer Josh Freese (A Perfect Circle, NIN) and bassist Chris Chaney (Jane's Addiction). Eric Valentine (Good Charlotte) is in the producer's chair.
"Things are going fantastic," says the top-hatted one, "Josh and Chris are one hell of a rhythm machine and the guitar sound is FAT! F*cking Awesome Tone!"
The Velvet Revolver axeman is working with a number of singers on the project, but is so far reluctant to reveal who they are.
"Unfortunately I can't divulge that info yet, but you'll know soon enough. I will say, however, that they are fantastically talented songwriters who it's been an honor to work and write with, to say the least."
VR is still on the hunt for a replacement singer after Scott Weiland's departure in April 2008.
"We have a bunch of new material and we're all anxious to get going, but the key ingredient for a rock 'n' roll band such as VR is an amazing frontman, and we haven't found the right man for the job, yet," Slash confirmed.