Oceanic Announces Hopes Advance Project to be Reviewed Under New Environmental Guidelines

Oceanic Iron Ore Corp. ("Oceanic", or the "Company") (TSX
VENTURE:FEO)(OTCQX:FEOVF) announces that it has been advised by the Canadian
Environmental Assessment Agency (the "Agency") that the Company's Hopes Advance
project will be reviewed under new guidelines in accordance with the Canadian
Environmental Assessment Act 2012. The Company has been advised by the
government authorities representing the Agency that while there is a requirement
for resubmission of the Company's Project Notice, the overall completion dates
should be maintained.


The Company views the legislation enacted by the federal government as positive
as it streamlines the overall environmental assessment process and protracts the
timelines that prevailed in the previous legislation. Moreover, the Company does
not anticipate any delays in arriving at the end point in respect of its
environmental assessment for its Hopes Advance project and anticipates a more
fluid progression of this critical aspect of developing the project.


OCEANIC IRON ORE CORP. (www.oceanicironore.com)

On behalf of the Board of Directors

Steven Dean, Chairman and Chief Executive Officer