The news comes despite creative director Greg Kasavin previously stating that the six-person studio was not going to make any more games.
Luckily for gamers, the good people over at Supergiant Games have changed their mind.
It also comes as Bastion is still available for only a $1 minimum at the weekly Humble Weekly Sale.
The PAX East footage from the weekend demonstrates a game strikingly similar in art style to the 2011 game Bastion, with a similar frenetic real-time combat comined with a new attack-planning tool that has been labelled 'Turn.'
During 2011, Bastion sold more than 500,000 copies, 200,000 of which were for the Xbox Live Arcade.
1UP.com gave Bastion their Best Narrative in a Game award, while Game Informer gave it the Best RPG Innovation award for the narration in the game.