UPDATE: Director James Gunn confirmed the title on his twitter account.
While on the press junket promoting Ant-Man, Kevin Feige may have let the official title of the Guardians of the Galaxy sequel out of the bag! When Collider quizzed the President of Marvel Studios about when the sequel would begin shooting, Feige said that a February or March start date is likely and referred to Guardians 2 as Guardians of the Galaxy: Volume 2.
Feige would not follow that up with a confirmation or denial that he might have just outright said the name of the highly anticipated sequel. Guardians of the Galaxy: Volume 2 is an obvious nod to Peter Quill’s cassette tape “Awesome Mix Vol. 1” in the first movie.
Guardians of the Galaxy 2 currently has a release date of May 5, 2017.