FNR 49 North Resources Inc

49 North 2009 Resource Flow-Through Limited Partnership (the "2009 Fund")
announces that in connection with the closing of the private placement offering
of Dumont Nickel Inc. ("Dumont") on November 12, 2009, it acquired ownership of
10,000,000 common shares of Dumont (representing 5.38% of Dumont's outstanding
common shares). The 2009 Fund is indirectly controlled by Tom MacNeill, the sole
shareholder, President and a director of 49 North 2009 Resource Fund Inc., the
general partner of the 2009 Fund. Mr. MacNeill is also the President and Chief
Executive Officer of 49 North Resources Inc. ("FNR") which owns 9,500,000 common
shares of Dumont (representing 5.11% of Dumont's outstanding common shares) and
5,000,000 warrants, each exercisable into a common share of Dumont for $0.05 per
share. 


Upon completion of the acquisition, the 2009 Fund and FNR will own 19,500,000
common shares (representing 10.49% of Dumont's common shares) and warrants
exercisable into 5,000,000 common shares (representing 11.19% of the outstanding
warrants).


In connection with the acquisition of securities, the 2009 Fund entered into a
subscription agreement with Dumont providing for the issuance of 10,000,000
common shares by Dumont to the 2009 Fund at a price of $0.025 per share for an
aggregate purchase price of $250,000. 


The 2009 Fund acquired the common shares in the private placement for investment
purposes. The 2009 Fund may in the future take such actions in respect of its
holdings as it may deem appropriate in light of the circumstances then existing,
including acquiring ownership or control over additional common shares or other
securities of Dumont or the disposition of all or a portion of its holdings in
open market or in privately negotiated transactions.


The acquisition of the common shares was carried out in accordance with and in
reliance on the "accredited investor" exemption in section 2.3 of National
Instrument 45-106 - Prospectus and Registration Exemptions which has been
adopted by the securities regulatory authorities in all Provinces of Canada and
which exempts the transfer and issue of such securities from the registration
and prospectus requirements of applicable securities law.


The 2009 Fund, FNR and Tom MacNeill may be considered to be joint actors under
applicable securities legislation. However, the issuance of this press release
is not an admission that any entity named in this press release owns or controls
any of the securities described in this press release or is a joint actor with
any other entity named in this press release.


A copy of the early warning report in respect of this transaction has been filed
with the applicable securities commissions and can be found at www.sedar.com.

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