Attached please find a press release on: Australian rare earths company Arafura Resources Limited (ASX: ARU) (Arafura or the Company) today advised it has extended the expected completion date of the Nolans Project Bankable Feasibility Study (BFS) by nine to twelve months.

Rare Earth Oxide (REO) prices have moved sharply upwards in the past 12 months, with the average valuation for the Nolans Rare Earths mix lifting to US$207.53/kg (FOB) in June 2011, a 1221% increase compared to the June 2010 value. Arafura expects higher prices for rare earth products to continue and is pursuing opportunities to simplify its flow sheet to focus predominately on rare earths.

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