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Press release from Marketwire

Oceanic Announces Receipt of Guidelines From the Province of Quebec

Monday, September 17, 2012

Oceanic Announces Receipt of Guidelines From the Province of Quebec11:57 EDT Monday, September 17, 2012VANCOUVER, 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 Québec Ministry of Sustainable Development, Environment and Parks, Administration of Environmental Assessment for Northern Mining Projects 'Ministère du Développement durable, de l'Environnement et des Parcs Direction de l'évaluation 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. ( behalf of the Board of DirectorsSteven Dean, Chairman and Chief Executive OfficerFOR FURTHER INFORMATION PLEASE CONTACT: Steven DeanOceanic Iron Ore Corp.Chairman and Chief Executive Officer+1 604 566 9080604 566 9081 (FAX)ORAlan GormanOceanic Iron Ore Corp.Chief Operating Officer+1 514 289 1183514.289.1188 (FAX)ORStephen RobertsOceanic Iron Ore Corp.Vice President - Investor Relations+1 604 609 6130sr@oceanicironore.comwww.oceanicironore.comNeither 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.