For the most part, I would say that it does. The filmmaker is careful to depict the two scenes by the river as Steinbeck describes them, and the Tyler Ranch, from the interior of the barn to the fields, closely resembles the novella's portrayal of it. Steinbeck helps any screenwriter who would want to transfer his book to film because he gives detailed descriptions much as a modern playwright offers set directions for his play. Gary Sinise--who portrays George in the 1992 film version and who played a significant role in bringing the book to the big screen--carefully patterns each scene in the book after Steinbeck's descriptions, especially Chapters 1 and 6. While the film does include some extra dialogue and scenes, it is a faithful rendition of Of Mice and Men.
If you need to point out any discrepancies in regards to scenery, a couple of the film's scenes take place in the fields. While Steinbeck does refer to the men working in the fields, the conversations between Slim and George take place in or outside of the bunkhouse (in the book), not actually in the fields.