Capcom producer Kouji Oda recently revealed that he is currently working on (in his words) "a sequel to a very popular Capcom franchise on the Nintendo 64." While he didn't comment any further, there's a good indication he was referring to the Resident Evil Zero title that has been in development for the Nintendo 64.
Kouji Oda has stated that he is a giant fan of the Japanese Capcom NES title Sweet Home (often considered to be the basis for Resident Evil), and he likes working at Capcom because he can work on games like Resident Evil.
While Capcom has been decidedly quiet about Resident Evil Zero, we hear that it will likely be released before the summer of next year. Yoshiki Okamoto's company, Flagship, created the scenarios for the game.