Mr. Steven Dean reports

OCEANIC ANNOUNCES SETTLEMENT OF DEBENTURE INTEREST FOR COMMON SHARES

On Dec. 31, 2024, Oceanic Iron Ore Corp. elected to settle an aggregate of $144,764 in accrued interest due under the company's previously issued replacement Series A convertible debentures, replacement Series B convertible debentures, Series C convertible debentures, Series D convertible debentures and Series E convertible debentures on Dec. 31, 2024, by issuing 1,072,314 common shares in the capital of the company at a price equal to 13.5 cents per common share.

Unless permitted under securities legislation, the common shares issued to settle accrued interest under the company's Series E convertible debentures are subject to a hold period expiring on Jan. 24, 2025.

We seek Safe Harbor.