Sir Brennus spotted that Project Minerva will be financed by the German games development fund. The game is developed by the German studio Grimlore Games and looks like Titan Quest 2.
Grimlore's previous game was Spellforce 3 and screenshots really look like Titan Quest. Since both IPs belong to THQ, I think it's perfectly possible that they work on new Titan Quest.
Bah watch it be another bug fest with patches that break the game once again. Yes I'm looking at you Spellforce 3 and its expansions. They had over 60+ patches combined.