UPDATE:

Microsoft has confirmed that the new game from Lionhead Studios, teased earlier today, will be Fable Anniversary , a HD remake of the original Fable for Xbox 360 including The Lost Chapters, added Achievements, SmartGlass integration, leaderboards, new UI, and a full 1080p HD visual update.

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The release was confirmed by a podcast released on Major Nelson's blog earlier today , with the box-art below grabbed from the MP3 thumbnail for the podcast.Other new features confirmed for the release include a new lighting system that utilises Unreal 3 to render the lighting, a new facial animation system, new cutscene animations, plus updated textures, models, particle effects, save system and more.Ted Timmins, the lead designer on the game, calls it "The game that Fable fans have been demanding for years." He also explained that the new Achievements will try to do something a little different: "Fable has always been about choice and consequence, so we're trying to put that into our Achievements."Interestingly, Timmins revealed Microsoft's intent to support Xbox 360 into the next-gen following the release of the Xbox One, saying "Obviously the Xbox [360] isn't going anywhere anytime soon. It's very important, to all of us, that we carry on delivering on it."Fable Anniversary is currently slated for a 2013 Holiday release on Xbox 360 only.

Lionhead has started off the day by teasing a HD remake of the original Fable for Xbox 360.The British studio released the video below, simply titled 'Fable Teaser Trailer', and also embedded it in a blog post titled 'An Exciting Teaser to Start the Day', which simply read, "Here’s a sneak peak at a little something we’ve been working on…"The video begins showing tweets directed at the studio asking for a HD remake and shows a HD render of Jack of Blades, the main antagonist in Fable 1. The teaser concludes with the Xbox 360 logo, implying it will come to the current-gen console.The original Fable came out in 2004 on PC, Mac, and the original Xbox.

Daniel is IGN's UK Staff Writer. You can be part of the world's most embarrassing cult by following him on IGN and Twitter