Oceanic Announces Granting of Stock Options

MONTREAL, QUEBEC--(Marketwired - Jan. 20, 2017) - Oceanic Iron Ore Corp. (TSX VENTURE:FEO) ("Oceanic" or the "Company") announces that pursuant to the Company's Stock Option Plan, a total of 1,280,000 incentive stock options have been granted to directors, officers, and consultants of the Company. The options are exercisable at a price of $0.25 per share for a period of 10 years expiring on January 20, 2027.

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

On behalf of the Board of Directors

"Alan Gorman"

President, Director and Chief Executive Officer

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Chris Batalha
CFO and Corporate Secretary
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