Oceanic Iron Ore Corp.: Product Value in Use Marketing Study Confirms High Value and Marketability of Hopes Advance Iron Prod...

Oceanic Iron Ore Corp. ("Oceanic" or the "Company") (TSX
VENTURE:FEO)(OTCQX:FEOVF) is pleased to announce that it has received the
Product Value In Use Marketing Study ("Study") requested from Vulcantech
Technologies.


The Study concludes that in addition to the iron unit premium for the high grade
Hopes Advance product at 66.6% Fe measured against the 62% Fe benchmark, an
estimated minimum 10% value-in-use premium can be anticipated due to the
product's high quality and low impurities. To illustrate, the Study concludes
that a minimum 10% premium above prevailing prices for Brazilian ores of similar
grade could be reasonably expected.  


The Hopes Advance high quality product is expected to be in prominent demand in
all steelmaking markets which will support Oceanic's efforts to penetrate
markets where there is a close proximity shipping advantage (e.g Europe and the
Middle East), as well as securing other benefits such as long term sale
contracts. These added benefits are in addition to anticipated high product
demand in the Asian market. The Study projects that steel producers in China,
Korea, Japan, and Taiwan, would all benefit considerably from the product's
superior chemistry.


The quality of existing and new sources of iron ore supply is expected to
continue to decline globally, therefore the demand for alternative high quality
sources of feed will be emphasized in order to maintain the status quo on blast
furnace performance and quality of finished steel products. Moreover, as the
percentage of Chinese production transforms to steel produced for consumer goods
and specialized steel applications, high quality, low impurity sources of feed
of the calibre of Hopes Advance will realize even greater demand to accommodate
this future market shift in the sector. 


Specifically, the Study concludes that:

"It has been proven in this 'Study' that the Oceanic products are chemically
superior (Al2O3 = 0.01% and P2O5 less than 0.01%) to many other current
offerings and will offer value in a wide range of steel mills.


The modelling results show a suite of value points depending on the ores being
replaced and operational constraints per steel mill. Despite all the differences
there is one common factor in all steel mills - there is a finite tolerance for
the impurities of phosphorus and alumina.


Since the Oceanic product is so strong in this field it can be used as a
sweetener in almost any raw material burden."


The Company's pre-feasibility study in respect of the Hopes Advance project
(November 2012), included the results of comprehensive pilot plant testing
completed by SGS Lakefield which highlighted both the chemistry and the
metallurgical attributes of the Hopes Advance product, and formed the basis of
assessment in the Study.


As previously stated by the Company, the purpose of the Study was to broaden
Oceanic's understanding of the market for its future products. The Company
anticipates that the conclusions derived from the Study will be integral to the
analysis and due diligence undertaken by potential strategic partners and future
off-takers. The Study will also form the foundation for the marketing assessment
required by the feasibility study.


Alan Gorman, President & COO indicated: "While we understood that the attributes
of our products were favorable the conclusions derived in this Product Value in
Use Marketing Study have exceeded our high expectations. We anticipate the Study
will be useful in our current and future discussions with potential strategic
partners."


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

On behalf of the Board of Directors

Steven Dean, Chairman and Chief Executive Officer

This news release includes certain "Forward-Looking Statements" as that term is
used in applicable securities law. All statements included herein, other than
statements of historical fact, including, without limitation, statements
regarding potential mineralization and resources, exploration results, and
future plans and objectives of Oceanic Iron Ore Corp. ("Oceanic", or the
"Company"), are forward-looking statements that involve various risks and
uncertainties. In certain cases, forward-looking statements can be identified by
the use of words such as "plans", "expects" or "does not expect", "scheduled",
"believes", or variations of such words and phrases or statements that certain
actions, events or results "potentially", "may", "could", "would", "might" or
"will" be taken, occur or be achieved. There can be no assurance that such
statements will prove to be accurate, and actual results could differ materially
from those expressed or implied by such statements. Forward-looking statements
are based on certain assumptions that management believes are reasonable at the
time they are made. 


In making the forward-looking statements in this presentation, the Company has
applied several material assumptions, including, but not limited to, the
assumption that: (1) there being no significant disruptions affecting
operations, whether due to labour/supply disruptions, damage to equipment or
otherwise; (2) permitting, development, expansion and power supply proceeding on
a basis consistent with the Company's current expectations; (3) certain price
assumptions for iron ore; (4) prices for availability of natural gas, fuel oil,
electricity, parts and equipment and other key supplies remaining consistent
with current levels; (5) the accuracy of current mineral resource estimates on
the Company's property; and (6) labour and material costs increasing on a basis
consistent with the Company's current expectations. Important factors that could
cause actual results to differ materially from the Company's expectations are
disclosed under the heading "Risks and Uncertainties " in the Company's MD&A
filed August 29, 2012 (a copy of which is publicly available on SEDAR at
www.sedar.com under the Company's profile) and elsewhere in documents filed from
time to time, including MD&A, with the TSX Venture Exchange and other regulatory
authorities. Such factors include, among others, risks related to the ability of
the Company to obtain necessary financing and adequate insurance; the economy
generally; fluctuations in the currency markets; fluctuations in the spot and
forward price of iron ore or certain other commodities (e.g., diesel fuel and
electricity); changes in interest rates; disruption to the credit markets and
delays in obtaining financing; the possibility of cost overruns or unanticipated
expenses; employee relations. Accordingly, readers are advised not to place
undue reliance on Forward-Looking Statements. Except as required under
applicable securities legislation, the Company undertakes no obligation to
publicly update or revise Forward-Looking Statements, whether as a result of new
information, future events or otherwise. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Oceanic Iron Ore Corp.
Steven Dean
Chairman and Chief Executive Officer
[phone]
[phone] (FAX)


Oceanic Iron Ore Corp.
Alan Gorman
President & COO
[phone]
[phone] (FAX)
www.oceanicironore.com