What is Project EXA? We don't know at this point; all we know is that it's something Bluehole Studio has been working on since 2014 and it's an intriguing mystery. Rumors swirl about the game being tied to Bluehole's last big project, TERA, but they're nothing but rumors at this point. About all we know is, well, there are a batch of new renders for the game from one of Bluehole's artists.
Do the new images answer any questions? Well, there's a girl who definitely seems at a glance to be an Elin, with the same bunny ears, doe-eyed stare, and miniskirt that barely reaches her thighs. What that means in the larger sense... who can say. Check out the images and speculate as you will.