If you search this site for postings containing the phrase 7012 you should find a thread started by me entitled something like No sound with SiS 7012 Onboard Sound.
In there towards the end are the steps I had to go through to get Sound working. Depending on your board, there is a simpler method which does not involve a kernel recompile, reading the various threads should give you some idea.
I've just swapped to Slack 9.0, and have compiled Kernel 2.4.21 after applying the acpi patch and the pre-empt patch, and I now have sound as root without doing anything further than enabling all of the acpi options and disabling apm.
I know that I've now got to change the privileges for access to DSP, which is what I'd logged on to do when I noticed your post.
Hope this helps, I'd advise going for the simpler option I mentioned above first, before you recompile the kernel.
Cheers
Amos
