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I know that with fantasy that the wood elves and bretonian codexs are older than the lizardmen one but i 'm wondering if any one has a probabable release date for a new lizardman codex?

There's been some rumors of carnosaur cavalry, but I doubt it'll be next year. The next books to come out are Deamons (prob Jan) & then Warriors. I think at one point people were saying High Elves after that (so now your in mid-late 2013). Lizards could be after them but there's no good info.

Not really. The current Lizardmen codex is pretty solid, and there are at least 4 or 5 other books that are probably going to happen before Lizardmen (Demons, WoC, High Elves, Brets, Wood Elves).

http://www.dakkadakka.com/dakkaforum/posts/list/371300.page

Even still, with how GW has been 'hyping' army books before release with a mini wave with a new unit or two, I wouldn't be surprised to see something before then.

As they have almost everything in up-to-date sculpts and a functioning armybook, there is not much for a second wave left.
Yes, I started with Wood Elves and may be a bit grumpy

 Kroothawk wrote:
As they have almost everything in up-to-date sculpts and a functioning armybook, there is not much for a second wave left.

Oh, I'm sure they could replace those puff the magic dragon Cold Ones. But that wasn't my point - GW have been hyping Fantasy armies with a new unit or two. And second wave parts are purely for completion sake. The idea is to get people to remember that hey, that army exists, then smack them with a book when their interest is up again.

Releasing the rumoured Carnosaur Cavalry a couple of months before the book would certainly scratch that itch.