Mr. Steven Dean reports

OCEANIC ANNOUNCES SETTLEMENT OF ADVANCE ROYALTY PAYMENTS

Oceanic Iron Ore Corp. has closed on the settlement of the advanced royalty payments previously announced on Nov. 23, 2023. The company has issued 1,153,846 common shares at a price of 6.5 cents per common share to SPG Royalties Inc., while also providing SPG with a cash payment of $25,000. Contemporaneously, the company issued a cash payment of $50,000 to 154619 Canada Inc., which has agreed to defer an additional $50,000 balance remaining until Nov. 30, 2024.

The common shares issued to SPG are subject to a statutory four-month hold period.

We seek Safe Harbor.