Mr. Alan Gorman reports

OCEANIC ANNOUNCES GRANTING OF STOCK OPTIONS AND RESTRICTED SHARE UNITS

Oceanic Iron Ore Corp., pursuant to the company's stock option plan, has granted a total of 1,415,000 incentive stock options to directors, officers, employees and consultants of the company. The options are exercisable at a price of 15.5 cents per share for a period of 10 years expiring on Nov. 25, 2024, subject to regulatory approval.

A total of 1,225,806 restricted share units have been granted to officers of the company, also subject to regulatory approval.