Source - press release
Last autumn saw the first beta release of AURAN Jet, a 3D "game authoring environment" from Australian developer Auran, the company behind real-time strategy game Dark Reign. Now Auran have announced their own first game based on the engine, and as you can see from the screenshots it's looking rather nice. Excalibur is a third person action game set in an Arthurian fantasy world of battling knights and powerful magic, with both single and multiplayer modes planned and a range of melee, ranged and magical attacks available to smite your enemies with. There's even talk of boiling oil, which can't be a bad thing (unless it's poured on your head of course).
Settings should include Albion (9th century England), Poisoned Camelot (dark fantasy) and Avalon (the fairy realm), and although the game isn't going to be available until some time next year, you can find some basic information about the game along with concept art and screenshots on the newly opened Excalibur website.