Studio set up the project earlier this year with “Mud” director Jeff Nichols helming from his own script in which a father discovers his 8-year old son has supernatural powers and the two go on run from their enemioes.
Variety first reported in May that Shannon was re-teaming with Nichols, who directed him in “Take Shelter.”
Dunst won the best actress award at Cannes in 2011 for Lars Von Trier’s “Melancholia.” She will be seen next in the indie thriller “The Two Faces of January” opposite Viggo Mortensen.
She’s repped by UTA and Management 360.
The Deadline.com site first reported Dunst’s attachment.