RE-PRICES OCTOBER, 2008, FINANCING WARRANTS

 

DUMONT NICKEL INC. (DNI:TSX-Ven, DG7:FSE) announces that, in light of current market conditions, it has filed an application with the TSX Venture Exchange to amend the terms of 550,000 of the 900,000 warrants issued under its private placement financing which closed on October 17, 2008 (the "Distribution Date")  to reduce the exercise price from $0.10 to $0.05 per common share for a period of 12 months from the Distribution Date, and thereafter at an exercise price of $0.10 per common share for an additional period of 6 months.

 

This warrant repricing application is made in accordance with the terms of the Temporary Relief Measures of the TSX Venture Exchange issued on November 3, 2008.

 

All warrant holders have consented to the repricing of the warrants. The warrant amendment is subject to the TSX Venture Exchange acceptance for filing.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

DNI - TSX Venture
DG7 - Frankfurt
Issued: 120,648,010

 

For further information, contact:
Dumont Nickel Inc. - Shahe Sabag, President & CEO or Denis Clement, Chairman (416-595-1195)
email ir@dumontnickel.com. Also visit www.dumontnickel.com