04/05/2014 AT 03:50 PM EDT
sequel is finally happening!
The 1985 cult classic is being revived by the film's director, Richard Donner, who tells TMZ
, "We're doing a sequel."
The kids' adventure film, which was scripted by Chris Columbus (prior to his successes with Home Alone, Mrs. Doubtfire, Harry Potter and the Sorcerer's Stone, Harry Potter and the Chamber of Secrets
and The Help
, among others), featured Corey Feldman
, Josh Brolin
, Sean Astin
, Jeff Cohen and Martha Plimpton on a quest to find a pirate treasure.
When asked which original cast members would be coming back for Goonies 2
, Donner replied, "Hopefully all of them."
While Donner previously said
that he didn't think there was going to be a sequel, Astin never gave up hope, telling IGN
in 2012, that the cast were still good friends.
"I'm 1,000 percent certain there will be a sequel," he said in true "Goonies never say die" spirit. "I will bet my children on it."