Bungie won't be making any announcements nor will it be showing up at E3 2012 "in any official capacity," the latest Mail Sack feature on Bungie Blog confirms. This means that any fans who were hoping to at last get a glimpse of the studio's first post-Halo project, known as Destiny, will be waiting awhile longer.
Details on the Activision-published title and franchise, Bungie's first post-Microsoft effort after the Halo developer struck out on its own, emerged in a recently unsealed contract between the developer and publisher. The planned series of "sci-fi action shooter games" will kick off in 2013, with additional releases to follow every other year and major DLC drops marking the "off" years.
The first Destiny game is known to be a Microsoft exclusive, and I would say it's a safe bet that any official reveal will come at the same time (or after) the next-gen MS console is announced. Unfortunately, that won't be at this years E3.