12/1/2008 to 12/19/2008.

Big Red, DIA;

House Positions

	Exch	House	Bought	$Value	Ave		Sold	$Value	Ave		Net	$Net
		79 CIBC	405,000	3,120	0.01		0				405,000	-3,120
		89 Raymond James	264,000	1,390	0.01		0				264,000	-1,390

ADD

	Exch	House	Bought	$Value	Ave		Sold	$Value	Ave		Net	$Net
		7 TD Sec	1,678,000	34,025	0.02		452,000	9,195	0.02		1,226,000	-24,830
		2 RBC	1,554,000	31,480	0.02		403,000	8,560	0.02		1,151,000	-22,920
		95 Wolverton	400,000	10,000	0.03		0				400,000	-10,000

MTX

	Exch	House	Bought	$Value	Ave		Sold	$Value	Ave		Net	$Net
		2 RBC	557,000	21,275	0.04		17,500	602	0.03		539,500	-20,673
		6 Union	377,000	14,245	0.04		0				377,000	-14,245

Dumont Nickel Inc. (DNI:TSX-Ven, DG7:FSE) is pleased to announce that it has received notice from KEL-EX DEVELOPMENT Ltd, a private corporation under Mr. C. Fipke's control,

that exploration for diamonds on DUMONT's Attawapiskat Property under option to KEL-EX will resume under the Operatorship of Arctic Star Diamond Corp. (ADD:TSX-Ven).

The Attawapiskat Property is adjacent to DEBEERS' Victor diamond Mine property and is located in the same structural corridor hosting the diamondiferous Victor kimberlite pipe and other kimberlites across the region.

The Attawapiskat Property has been under option to KEL-EX since 2003. KEL-EX has conducted considerable exploration work, at no cost to DUMONT, under separate arrangements with Metalex Ventures LIMITED (MTX:TSX-Ven),

Big Red Diamond Corp. (DIA:TSX-Ven) and ARCTIC STAR. DUMONT retains a 10% carried interest to production and a 5% interest in certain surrounding areas if acquired by KEL-EX.

At last report, METALEX had announced discovery of 18 glacial mineral indicator trains which are derived from suspected diamond-bearing kimberlites situated partly on DUMONT's claims (METALEX press September 24, 2004). Metalex had also reported discovery of abundant kimberlite and diamond indicator minerals, including chrome diopsides and olivines with diamond inclusion compositions, and discovery of diamonds in surface material.

The D6 diamond indicator mineral fan has been identified as the most prospective mineral fan discovered to date, and indications are that future work will focus on the search for the source to the D6 fan.

Formalities of the change of Operatorship have not yet been finalized. Dumont will announce additional developments as they are concluded.