The group has been without a lead vocalist since parting ways with Scott Weiland in April 2008.
They revived efforts to find a replacement in December and drummer Matt Sorum admitted they had narrowed down the search, although he was hesitant to reveal the identity of the "known" singer until they had jammed together a little longer.
Speaking to The Pulse of Radio, Sorum said, "We can't make the announcement yet because we're 'dating', you know. We haven't consummated the relationship, we haven't sat down this gentleman and made the agreement together."
However, the jam sessions appear to have gone well, the band has revealed plans to release a new album later this year with the new singer, who is expected to be unveiled later this week.
Sorum confirms to Noisecreep: "The goal now is to get right back together and make a call on the singer. Slash is going to finish out his (solo) tour through the beginning of the summer, and then hopefully by that time we'll have a bunch of songs compiled.
"We all work on our own, and send each other ideas and work together when we got breaks. And maybe we'll take a few more weeks to write, get in the studio and record an album by the end of the summer to get it out by the late part of 2011. I'm looking forward to that. We've all had enough time to go out and live other lives and have an adventure and organically come back as a unit that wants to do it again."
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