Check out 1st image from Hobbit sequel The Desolation of Smaug

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Jan 14, 2013, 2:52 PM EST

The Hobbit: An Unexpected Journey may still be a week away from hitting theaters, but when it comes to Peter Jackson, we all know he works fast. Which means that today, a year before its release, we get our first glimpse of The Desolation of Smaug.

They say a picture is worth a thousand words. Let's find out, shall we?

Well there's Bilbo, surrounded by treasure and looking quite scared at ... something. Good money says it's the titular Smaug, the terrifying dragon voiced by Sherlock himself, Benedict Cumberbatch.

Oh, and is that a ring we see on Bilbo's finger? How intriguing ...

(via Comic Book Movie)