VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/26/14

Oceanic Iron Ore Corp. ("Oceanic" or the "Company") (TSX VENTURE:FEO)(OTCQX:FEOVF) announces that pursuant to the Company's Stock Option Plan, a total of 1,415,000 incentive stock options have been granted to directors, officers, employees and consultants of the Company. The options are exercisable at a price of $0.155 per share for a period of 10 years expiring on November 25, 2024, subject to regulatory approval.

The Company also announces that a total of 1,225,806 Restricted Share Units have been granted to officers of the Company, also subject to regulatory approval.

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

On behalf of the Board of Directors

Steven Dean, Executive Chairman, +1 604 566 9080

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.

Contacts:
Oceanic Iron Ore Corp.
Alan Gorman
President and Chief Executive Officer
+1 514 289 1183
www.oceanicironore.com