Guns n Roses' Axl Rose and Duff McKagan perform at the 2014 Revolver Golden Gods Awards

April 23:  Guns n Roses' Axl Rose and bassist Duff McKagan perform onstage at the 2014 Revolver Golden Gods Awards at Club Nokia in Los Angeles, California.  

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A new album would be GNR's first release since 2008's long-awaited "Chinese Democracy"

Guns N' Roses fans might not have to wait another 15 years between new album releases.

GNR guitarist Richard Fortus told the Associated Press at the Revolver Golden God Awards in Los Angeles on Wednesday (April 23) that the rock band is working on new material that could be released in the next year.

"We are working on stuff and hopefully very soon we're going to have new stuff out," Fortus said on the red carpet at the event. "Well, in the next year."

GNR's last new album arrived in November 2008 with the long-awaited "Chinese Democracy," which debuted at No. 3 on the Billboard 200. Prior to that release, the band hadn't put out new music since the "The Spaghetti Incident?" in 1993.

GNR's DJ Ashba, who was standing next to Fortus on the carpet (see full video below), added that the group's members have been recording ideas in their home studios and passing them around to each other.

"We're going to be in Vegas all together, so hopefully during that time we're going to be able to get in a room and start laying down some more stuff," Fortus said. 

On May 21, GNR will begin a residency at the Joint inside Las Vegas' Hard Rock Hotel and Casino. The band recently toured through South America, where original GNR bassist Duff McKagan filled in for new bass player Tommy Stinson, who was busy performing with his band the Replacements.

GNR performed with McKagan at Wednesday's Golden Gods Awards, where frontman Axl Rose was given the Ronnie James Dio Lifetime Achievement Award.