So I would really like to have have the ring of fog for a choice scenario. However after joining the forest hunters and failing for almost 30 mins to kill anyone ( really at this point it's all people who pvp all day long and I suck) I was thinking of trading the lantern to snugly in exchange for the ring. My question is will there be a lantern again in tomb of the giants in the pit always? Because the one I have now I got from a necromancer
Yeah there'll be more than one then.
Though I really recommend either getting the Sunlight Maggot helm with the light effect from Lost Izalith or the Cast Light spell (requires 14 Int) from Dusk so you don't have to give up your shield in Tomb of the Giants.
Huh, I played through for the first time recently, and had a different experience. I put the ring on and fairly quickly got challenged by the same person three times. After winning by a small margin the first two times, the third time they backed off a cliff and died.
If you've only ever had one lantern, I assume the other one is still there. If you happen to have 14 Int and the DLC the cast light spell is a superior option.