On a profile for Kevin Shields on the website for Sigur Rós' festival Norður og Niður (which he was recently confirmed to be performing at) a passage reveals that Shields is "working on material for a new My Bloody Valentine album to be released in 2018."
Shields is currently also completing analog remasters of Loveless and Isn't Anything ahead of vinyl reissues. It's unclear at this stage whether the new My Bloody Valentine project will go the way of 2014's EP - i.e. fail to exist - but time will tell.
In related news My Bloody Valentine drummer Colm Ó Cíosóig just released a new EP with Mazzy Star's Hope Sandoval.