From CinemaBlend.com (click the link below to read the whole article):
Now producer Mark Canton is talking to MTV and assuring them the project is still in the works, though since Xerxes is no longer the title and Snyder is almost definitely not going to direct, the key details have changed. Canton says they don't know what the new title will be, but he joked that it would be called Xerxes Plus, and talked up how good the movie will be now that they've waited so long to put it together:
“It’s been worth the wait. You know, that group of people [who worked on '300'], we’re really a family. That’s part of what made that movie . . . so gratifying. Rather than doing the bad sequel we . . . took our time. And now I think we have something that is going to be fantastic.”
Beyond the new title and Canton's vague, all-but-guaranteed suggestion that Snyder won't be directing -- "I don’t see us waiting two years to make the movie"-- there's not much news here. But the dozens of you waiting to return to the world of 300 without Snyder's direction can rest assured that you're still probably going to get that chance.
The release date for Xerxes is currently unknown.