Nightdive Studios assure fans they are simply taking their time with this highly-anticipated project.

After spending years in licensing hell, Turok 2: Seeds of Evil is still on track to see a digital re-release.
This news comes to us from developer Nightdive Studios who took to the Steam forums to share the good news with franchise fans everywhere.
"So as many of you may have guessed, working on the rights to these classic titles can be tricky and sometimes contractual obligations prevents the transparency we've enjoyed on some of our other titles which is why updates have been mysteriously absent," said the developer regarding the game's status. "In our quest to bring you the most authentic experience at the highest quality level available we've decided to give Turok 2 the love it deserves and release the game 'when it's done.'"
Nightdive is not currently ready to commit to a release date, but they have reaffirmed that the game is coming. Besides the licensing issues that kept the game from being re-released at all over the years, the developers state that the delay on their version of the classic title is due largely to how much more complicated the game is in comparison to the original Turok. Turok 2 is a significantly larger game and even features a multiplayer mode that Nightdive intends to retain.
The studio had previously announced their intentions to release Turok and Turok 2 in 2015, but since then, they have remained silent as it relates to the progress of the latter title. While the developer's Turok release was a tremendous success, it currently has an "Overwhelmingly Positive" rating on Steam, the lack of communication from Nightdive up until this recent update had some fearing the worst as it relates to the sequel's chances at a re-release.
With the exception of System Shock 2, the eventual release of Turok 2 will mark Nightdive Studio's greatest coup yet. Turok 2 originally made quite the splash when it released in 1998 on the N64, but its exclusive nature and post-Goldeneye release meant that it didn't quite reach the audience that it necessarily deserved to. This second chance at success should hopefully give the game an opportunity to shine once more.