Yes and No, the IMDB listed Deadlands: The Rising (2012) is part remake, and part direct sequel. All new characters and story elements have been added, the only sequence that will be directly lifted from the original to the 2012 version is the Traffic Jam massacre.
However, as of note, the 2012 version of the film is actually what writer and director Gary Ugarek intended when he set out to make a feature film, but because of budget constraints the screenplay was scaled back.
This longer 2012 version would include everything that was absent from the original film.