Lakes are working on a new full-length, which "won't be out for awhile." In the meantime, the band will release a stripped down EP including garage versions of the album's songs and a few b-sides. Watch a video with details in the replies.
God, I've missed these guys. That EP of theirs is nearly perfect to me. They are one of those bands that I try to get my friends to listen to all the time. Glad to hear things are still moving in their camp!