Well, maybe. According to CNN.com, the "new" Tolkein book is called "The Children of Hurin." Maybe it's just me, emerging from a magical Passover Sederland, but that title sounds a lot like the Haggadic "benei chorin," meaning "free people."
The story is set long before "The Lord of the Rings" in a part of Middle-earth that was drowned before Hobbits ever appeared, and tells the tragic tale of Turin and his sister Nienor who are cursed by Morgoth, the first Dark Lord.
I'm tempted to conjecture that Morgoth is Pharaoh and that the drowning was in the Red Sea, and to conjecture that Turin tries to save the people and then Nienor dances and shakes timbrels after Morgoth's armies drown in the sea. But I haven't read the book, so that would just be irresponsible reporting.