20 October 2009 - London:  European Nickel PLC ("European Nickel"  or
the "Company") (AIM, PLUS: ENK)  announces that, on 19 October  2009,
it mutually agreed with Endeavour Financial Corporation ("Endeavour")
to extend the Bridge  Loan Facility Agreement,  announced on 27  July
2009, to 30  November 2009  whilst the Company  finalises its  longer
term funding requirements.

Following the formal approval by the Board of Jiangxi Rare Earth  and
Rare Metals Tungsten  Group Company  Limited ("JXTC")  in late  July,
JXTC has been advancing the Jiangxi Provincial Government's  approval
process for  the  US$20 million  overseas  investment in  the  �aldag
project through the various government departments.  The project debt
financing is  also  proceeding  well as  China  Tianchen  Engineering
Corporation has now  submitted the application  for credit  guarantee
insurance to the Government backed export credit agency providing the
cover for the debt facility, which is now being processed.   European
Nickel expects  to  provide further  detail  to shareholders  in  due
course.

Endeavour is  acting  as financial  adviser  to the  Company  on  the
Chinese debt financing.

For more information, please visit www.enickel.co.uk or contact:

Simon Purkiss or Andrew Lindsay, European Nickel
Tel: +44 20 7290 3130

Mike Jones or Andrew Chubb, Canaccord Adams
Tel: +44 20 7050 6500

Alex Buck, BuckBias
Tel: +44 7932 740 452

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