NEWS RELEASE

DUMONT NICKEL INC. - Dec 18, 2008

DUMONT ANNOUNCES FLOW-THROUGH FINANCING TERMS

DUMONT NICKEL INC. (DNI:TSX-Ven, DG7:FSE) announces its intention to conduct a non-brokered private placement financing, on terms which contemplate two different types of units, one of which consists of flow-through shares. The terms are as follows:

Unit-A: consisting of up to 30,000,000 million units at a price of one (1) cent per unit, for gross proceeds of up to $300,000, each unit consisting of one (1) flow-through share.

Unit-B: consisting of up to 6 million units at a price of 5 cents per unit, for gross proceeds of up to $300,000, each unit consisting of five (5) shares at one (1) cent each, comprising four (4) flow-through shares, one (1) common share, and one (1) common share purchase warrant entitling the holder to purchase an additional common share of the company at a price of 5 cents for a period of twelve months from closing.

Proceeds of the financing will be applied toward ongoing work on Dumont’s polymetallic shale Properties in Alberta, and toward working capital. Insiders might participate in the financing.

The financing is subject to regulatory approvals.

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: 106,898,010

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