Liev Schreiber dropped some Wolverine 2 news on us today at a press conference for the upcoming Repo Men, which he is in along with Forest Whitaker and Jude Law.  Schreiber confirmed that Hugh Jackman, Wolverine himself, has read the script for the samurai sequel.  It looks like Sabretooth will be left out of this installment, though Schreiber would like to reprise the role if the opportunity arose.  From io9:

"I just had dinner with [Hugh Jackman] last night and Hugh read the first draft of the script and I was really excited about it. It's still not clear whether or not Victor will be present in the Japan storyline. In the Japan storyline as I remember it from the Wolverine comics, Victor wasn't there. So I don't know, of course I've got my fingers crossed because I love the character so much, to have the chance to do it again would be a lot of fun, but I'm not sure."

I don't see Sabretooth fitting in the sequel in any logical fashion, so hopefully they leave him out until the inevitable third picture.  Filming is expected to begin next January.