Oceanic Announces Receipt of Guidelines From the Province of Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 17, 2012) - Oceanic Iron Ore Corp. (TSX VENTURE:FEO)(OTCQX:FEOVF) ("Oceanic", or the "Company") is pleased to announce that it has received its Project Guidelines from the Kativik Environmental Quality Commission ("KEQC") through the Quebec Ministry of Sustainable Development, Environment and Parks, Administration of Environmental Assessment for Northern Mining Projects 'Ministere du Developpement durable, de l'Environnement et des Parcs Direction de l'evaluation environnementale des projets nordiques et miniers', or 'MDDEP' for its Hopes Advance Bay project.

The receipt of KEQC Guidelines from the MDDEP advances the project to the next stage in the overall assessment process provincially.

Steven Dean, Chairman and CEO commented: "We are pleased that the Provincial assessment process has now progressed to the next stage. With both the provincial and federal regulatory authorities having provided notice that their evaluations have progressed we have moved the project another step closer to the ultimate objective of permitting, construction, and subsequent operations."

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

On behalf of the Board of Directors

Steven Dean, Chairman and Chief Executive Officer

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.
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