Nearly 40 years since he first became Billy the Kid,  Emilio Estevez has confirmed that the long awaited third film is finally happening and he will not only star, but also direct.

Estevez confirmed the news himself at the Film and Media Day at New Mexico State Capitol. 

“We’ve started the ball rolling on Young Guns 3,” with him adding, ”I’ve heard all the jokes: Old Guns, Ancient Guns. You can hold on to those.“

Confirmed to be returning are Lou Diamond Phillips and Christian Slater, in what could the start of a growing cast, with more news expecting over the next few weeks.