[Edit: Unfortunately, the source itself has claimed this screenshot to be fake. It just goes to show that some rumors can be too good to be true.]
Just minutes ago (via @DigitalGreenTV on Twitter), a new screenshot of what appears to be the title screen for a new Zelda game created by Nintendo and Grezzo (who worked on Ocarina of Time 3D) hit the ‘net. By all means, it appears to be legitimate to my untrained eyes, and I shall be ecstatic if this turns out to be legitimate!
According to our own Mike Eaton, the Japanese text below “ZELDA” translates to “Zelda: Ebi Shield,” with “Ebi” meaning shrimp, or prawn. Given the design of this supposedly titular shield, I believe that it is safe to assume that the game will be depicted in a more cartoony style, such as Wind Waker and its DS spinoffs.
Edits will come as more information surfaces!