Dumont re-prices October, 2008, financing warrants

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

    TORONTO, Jan. 15 /CNW/ - 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

    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

    %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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