Dumont executes Shareholder Rights Plan agreement

    DUMONT NICKEL INC. (DNI: TSX-Ven, DG7: Frankfurt)

    TORONTO, July 29 /CNW/ - Dumont Nickel Inc. (DNI:TSX-Ven, DG7:FSE) is
pleased to announce that its Board of Directors has approved adoption of a
shareholder rights plan (the "Plan"), to ensure, to the extent possible, that
all Dumont shareholders are treated equally and fairly in connection with any
take-over bid, and to provide sufficient time for all shareholders to consider
any such transaction. Dumont is not aware of any pending of threatened 
take-over bids for the Company.
    Dumont has executed a Shareholder Rights Plan agreement with Equity
Transfer & Trust Company. The Plan requires ratification by Dumont's
shareholders, and will be submitted to the shareholders for consideration at
Dumont's annual and special meeting of shareholders scheduled to be held on
September 12, 2008. The Plan is also subject to TSX Venture Exchange approval.
    Under the Plan, shareholders are issued one Right in respect of each
Dumont common share held, such Right being attached to the share. On the
occurrence of certain triggering events, including the acquisition by a person
or group of 20% or more of the outstanding common shares of the Company
pursuant to a transaction that does not meet certain conditions, the Right
will entitle its holder (other than the acquiring person or group) to purchase
$40.00 worth of Dumont common shares at the then market price for $20.00  (ie:
at a 50% discount).
    The complete text of the Shareholder Rights Plan agreement will shortly
be available from www.sedar.com

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    DNI - TSX Venture
    DG7 - Frankfurt
    Issued: 104,798,010

    %SEDAR: 00010711E

For further information:

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

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