Susanna White, who directed "Generation Kill" and "Nanny McPhee Returns", is on board to direct from a script by Steven Knight.
Producers are Ed Zwick, Marshall Herskovitz, Rick Solomon and Erika Olde.
Chastain will portray Caroline Weldon, who moved from Brooklyn to the Standing Rock Reservation in Dakota Territory to help Sioux chieftain Sitting Bull keep the land for his people.
Chastain was most recently seen in "The Martian" and "Crimson Peak". White most recently directed "Our Kind of Traitor", starring Damien Lewis and Ewan McGregor.
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