Things just keep getting better for My Bloody Valentine fans. Only yesterday, MBV main man Kevin Shields put an end to 22 years of speculation by confirming there would be a follow up to the group’s classic 1991 album, ​Loveless​, before the end of the year.

Now, with a new My Bloody Valentine record on the way, as ​Consequence of Sound ​reports, High Fader records have announced they’ll be releasing a Japanese tribute album of ​Loveless ​on January 23.

The compilation is called ​Yellow Loveless​ and features covers of each of the album’s 11 tracks. Renowned all-girl group Shonen Knife will unveil their take on “When You Sleep” while experimental rockers Boris try their hand at “Sometimes” (you can view the full tracklisting below).

Meanwhile, the as-yet-untitled My Bloody Valentine record will see light of day before the end of the year, with an EP of more new material arriving in 2013. Both will be released on Kevin Shields website.

The innovative guitarist and frontman told NME what people could expect from the material. “People who like us will immediately connect with something. Based on the very, very few people who’ve heard stuff – some engineers, the band, and that’s about it – some people think it’s stranger than Loveless. I don’t. I feel it really frees us up, and in the bigger picture it’s 100% necessary. I’m expecting some trouble but, you know what? I don’t care about all of that. ”

Expectations among fans and critics will no doubt be high, with ​Loveless​ and the band’s debut full-length ​Isn’t Anything​, both garnering huge praise since being released more than two decades ago. The group are widely credited with pioneering the shoegaze movement, with ​Loveless ​considered the scene’s artistic peak.

Australian fans will be treated to the new material when My Bloody Valentine comes down under for a string of dates next year. The group will play the headline set at the All Tomorrow’s Parties festival in Melbourne and have also announced a national tour throughout February, with shows lined up in Melbourne, Sydney and Brisbane.

With a slightly altered lineup featuring Shields, Bilinda Butcher, Debbie Googe and co-founder Cold Ó Cíosóig, My Bloody Valentine’s long awaited return to our shores will bring relief to the fans who have endured the 21 year wait. One can only hope the new material will deliver.

You can view the artwork and tracklisting for the Japanese tribute album below, as well as My Bloody Valentine’s 2013 Australian Tour dates.

Yellow Loveless Tracklist:
01. Tokyo Shoegazer – “Only Shallow”
02. GOATBED – “Loomer”
03. The Sodom Project – “Touched”
04. Lemon’s Chair – “To Here Knows When”
05. Shonen Knife – “When You Sleep”
06. Tokyo Shoegazer – “I Only Said”
07. Age of Punk – “Come in Alone”
08. Boris – “Sometimes”
09. Shinobu Narita (4-D Mode1) – “Blown a Wish”
10. Lemon’s Chair – “What You Want”
11. Sadesper Record – “Soon”

My Bloody Valentine Australian Tour 2013

Tickets on sale now at: http://premier.ticketek.com.au

Monday 18th Feb – Enmore Theatre, Sydney

Wednesday 20th Feb – Tivoli Theatre, Brisbane

Friday 22 Feb – Palace Theatre, Melbourne

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