Mr. Steven Dean reports

OCEANIC ANNOUNCES SETTLEMENT OF DEBENTURE INTEREST FOR COMMON SHARES

Oceanic Iron Ore Corp., on Sept. 30, 2025, elected to settle an aggregate of $128,145 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, by issuing 142,383 common shares in the capital of the company at a price equal to 90 cents per common share, representing the closing share price at Sept. 30, 2025.