The film sees Gore Verbinski taking the helm with Johnny Depp and Armie Hammer as its lead stars and Jerry Bruckheimer producing.
Depp will play Tonto while Hammer will play a Texas Ranger left for dead by a masked man known as the Lone Ranger.
According to The Hollywood Reporter, Bonham Carter is in talks to play a brothel madam who deals with gentleman and scoundrels. Dwight Yoakam is also said to be negotiating the role of Butch Cavendish.
Barry Pepper is also in talks about playing a military officer.