Granville has an option in favour of the club on his deal, which they have now picked up, while Dunn has been re-signed for another season.
Dunn has played exactly 50 NRL games for the Cowboys, but it was his milestone game which won't be remembered fondly after he injured his ACL, ending his season in Round 2 after coming off the bench against the Canberra Raiders.
Despite that, the forward, who can play in the middle or on the edge, is highly regarded by the playing group and part of the Cowboys' leadership group.
“Mitch has endured an unlucky stretch with injury,” Cowboys General Manager of Football Micheal Luck said in a club statement.
“He’s a Cowboys junior who we’ve always had high hopes for and he’s emerged as a great young leader in the group.
“We will stand behind Dunny as he overcomes this latest setback and look forward to him getting back on the field and playing good footy because when he’s playing well he makes our team better.”
Granville, on the other hand, is one of the only remaining players from the 2015 premiership team.
Playing everywhere from dummy half to fullback, from centre to middle forward, Granville has filled plenty of gaps, and Luck said it was that willingness that made him such an important part of the club.
“Jake has shown again this year he is willing to do whatever role the team needs. He has played in multiple positions again and done a really good job in all of them,” he said.