Logan director James Mangold also weighed in on the announcement that Hugh Jackman would play Wolverine one more time

Ryan Reynolds Deadpool ; LOGAN, Hugh Jackman

PHOTO: MARVEL ENTERPRISES/20TH CENTURY FOX/KOBAL/SHUTTERSTOCK; BEN ROTHSTEIN/20TH CENTURY FOX/COURTESY EVERETT COLLECTION

Ryan Reynolds and Hugh Jackman are shedding light on the upcoming Deadpool film, in which Jackman will once again play his iconic X-Men role, Wolverine.

In a video the pair each posted on social media Wednesday, one of the issues they made clear was that Deadpool 3 would not undo the events of Logan, the gritty, Oscar-nominated 2017 film in which Logan, aka Wolverine, died. Most fans — and even likely Jackman, 53 — assumed that would be his last time playing the character.

Logan takes place in 2029, totally separate thing,” Reynolds, 45, said. “Logan died in Logan. Not touching that.”

The two then begin to get into the plot of the film, when “Wake Me Up Before You Go-Go” begins to play over their conversation. Both men are quite animated in what may or may not be them talking about the actual plot. The music finally stops when they are done talking, just in time for them each to thank Marvel Studios President Kevin Feige.

Never miss a story — sign up for PEOPLE’s free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.

Logan director James Mangold shared his thoughts on the reprisal announcement with a couple of tweets. First, Mangold just posted a GIF of the moment when Logan is fatally impaled at the end of Logan. After fans read into the post for meaning, Mangold followed up with his actual thoughts.

“Oh my gosh! Everybody chill. Just kidding! I’m all good! LOGAN will always be there. Multiverse or prequel, time warp or worm hole, canon or non-canon or even without a rationale, I cannot wait to see what maddness my dear friends @VancityReynolds and @RealHughJackman cook up!” he posted on Twitter.

Editorial use only. No book cover usage. Mandatory Credit: Photo by Moviestore/Shutterstock (5140784l) 'Deadpool' film - Ryan Reynolds 'Deadpool' film - 2016

MOVIESTORE/SHUTTERSTOCK

The tweet included a picture of Eddie Murphy and Nick Nolte in the buddy-cop classic, 48 Hrs.

On Tuesday, Jackman and Reynolds announced in a video posted on Twitter that Wolverine would be in the highly anticipated Deadpool 3. The role will be much larger than a cameo, a source told PEOPLE.

In the video announcement, Reynolds said he has been digging deep over the years since 2018’s Deadpool 2 to deliver another smash installment into the beloved Marvel franchise.

He finally (jokingly) admitted he has come up empty for ideas thus far, at which point Jackman walked through the background. Reynolds asked if he wants to play Wolverine one more time, to which Jackman replied, “Yeah, sure.”

Hugh Jackman as Logan

ALAN MARKFIELD/20TH CENTURY FOX/COURTESY EVERETT COLLECTION

Though he has yet to appear in a Deadpool film, there have been plenty of references to both Jackman and Wolverine in Deadpool and its sequel. Reynolds and Jackman did appear together as the characters in 2009’s X-Men Origins: Wolverine, but that iteration of Wade Wilson, aka Deadpool, was vastly different from Reynolds’ reincarnation of the character in 2016’s record-breaking Deadpool.

Former Disney CEO Bob Iger previously said there were no plans to tone down future Deadpool films after the 2019 Disney acquisition of 20th Century Studios, meaning Deadpool movies will continue to earn R ratings. Notably, Logan and the two Deadpool films were the first R-rated content made available on Disney+ earlier this year.