No official release date Far Cry 3 yet, but it is rumored to come out this year.
Ubi hasn't said much about Far Cry 3, but what little I could find is available on the links below.

http://playstationlifestyle.net/2011/01/11/ubisoft-quiet-on-far-cry-3-rumors/

http://www.vg247.com/2011/01/11/ubi-stonewalls-gi-far-cry-3-assumption/

http://farcry.wikia.com/wiki/Far_Cry_Wiki

http://www.facebook.com/pages/Farcry-3/134908003203610

If this comes out this year it will be on the top of my list for favorite new ps3 game 2011.
http://cdeezgames.com/ps3-games/new-ps3-games-2011/15/

If what this site says about Far Cry 3 is true that sucks.
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Ubisoft’s told VG247 that it will “not comment on rumor or speculation” in relation to Game Informer listing Far Cry 3 as an August 2011 release.

GI listed the game for August in its 2011 preview earlier this month.

Far Cry 3 development began before the global release of Far Cry 2 in October 2008.

Far Cry 2 narrative lead Patrick Redding told VG247 that Ubi Montreal was at the “preliminary stages” with the “next game” in the Far Cry series at Leipzig’s Games Convention in 2008, and that the team now has a “commitment to the African setting.”

Far Cry 2 was Ubisoft’s first take on the IP – Crytek developed the original Far Cry, which released back in 2004 – and saw the publisher build an extensive African setting for what’s widely regarded as a benchmark in open-world FPS.

Further, Ubisoft scriptwriter Kevin Shortt told OPM that what he’d seen of the title so far was “pretty exciting,” speaking in November 2009.

Swedish retailer Webhallen and the Swedish branch of GAME both published listings for Far Cry 3 in August 2010, saying, “Rumours suggest this time the game will be played out in Africa but with an even larger world and with a completely updated Dunia engine.”

Ubisoft has never confirmed the existence of Far Cry 3 on a PR level.

Did you give him a call? 514-966-2882

Not yet...If this goes wild on the web i bet he will get spammed lol

Has anybody heard any more news about Far Cry3? Or do you think this series will die out like the Timesplitters series?

Ubisoft just announced their E3 2011 lineup. No mention of  FC3:

Ubisoft® has announced that it will kick off E3 with an invitation-only press conference on June 6, 2011 at 2:30 pm PST at the Los Angeles Theatre where attendees will be treated to never-before-seen demonstrations of Ubisoft’s fiscal year 2012 line-up and exclusive new announcements. Following the press conference E3 attendees can view and play Ubisoft titles at the booth located in the South Hall of the Los Angeles Convention Center from June 7-9, 2011. This year’s E3 also marks the start of Ubisoft’s 25th anniversary celebration; the company is celebrating this milestone by delivering its strongest and most diverse brand portfolio to date, with titles spanning all major genres and platforms, including a variety of action adventure and shooter titles, fitness games, online titles and casual games to play with the family.

“Ubisoft has been delivering top-notch entertainment for 25 years, and we’re incredibly grateful for all of our fans,” said Yves Guillemot, chief executive officer at Ubisoft. “We plan for the upcoming years to be just as exciting and full of innovation, and the wide range of creative, fun and unique titles we’re demonstrating at E3 illustrate the stellar talent of our development teams and Ubisoft’s ongoing investment in delivering entertaining and innovative products to consumers.”

High Definition
Already known for its growing collection of blockbuster brands, Ubisoft’s E3 line-up features high definition titles that set the bar for gaming creativity and quality, including: Assassin’s Creed® Revelations, Call of Juarez®: The Cartel, Driver® San Francisco, Rayman Origins and Tom Clancy’s Ghost Recon® Future Soldier.

Online
Ubisoft is entering the online games market in earnest, giving customers continuous connections to their favourite games whenever and wherever they want. By offering innovative new online titles, Ubisoft is using this year’s E3 to announce its presence as a key player in the online games space. Titles on display include: From DustTM, Tom Clancy’s Ghost Recon® Online, and TrackMania2 Canyon.

Casual
Ubisoft rules the casual market, holding the number one third-party position on Kinect, 3DS and Wii. Ubisoft continues to pioneer on emerging mainstream technologies and creating games with real-life benefits that the whole family can enjoy. Ubisoft’s casual games featured at E3 include: The Adventures of Tintin, MotionSports Adrenaline, RocksmithTM, the upcoming new Raving Rabbids®, Just Dance®, and Your ShapeTM games.

Additionally, during E3 exhibition hours Ubisoft will host an exclusive Rocksmith-branded tour bus outside of the Los Angeles Convention Center. Located in the concourse walkway between the West and South Halls, consumers can hop on the bus to demo the revolutionary new music experience that is the first and only game that plugs into any real guitar.

I'll be interested in the new AC, COJ, and GRFS games.

Looks like From Dust is finally going to make it this summer, though I'm not as interested in it anymore since they've stripped alot of the freedom to create and re-playability out.

And screw the fitness games...if I want break a sweat it won't be while playing a video game.

On a side note: If you notice, TrackMania2 is finally listed and should be released this fall. Although it's a PC game, it's all about UCC. MediaPlanet is the dev for TM2, and they are working on 2 other UCC games...Shootmania and Questmania. Both titles are online games which allow you to create your own FPS or RPG using their editor. Shootmania is due for a closed beta this fall. Questmania may be a bit further off. Just something to keep an eye on...

FUUUUU*****K YEAAAHH! I just saw the first real announcement for Far Cry 3! It was a real ingame teaser on E3! Can't explain my joy right now :D:D:D:D