The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Oceanic Announces Ruling of Federal Minister of Environment

Wednesday, January 23, 2013

Oceanic Announces Ruling of Federal Minister of Environment13:49 EST Wednesday, January 23, 2013VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 23, 2013) - Oceanic Iron Ore Corp. (TSX VENTURE:FEO)(OTCQX:FEOVF) ("Oceanic", or the "Company") announces that Hon. Peter Kent, Minister of Environment, has provided a ruling on January 18, 2013 referring the marine portion of the Hopes Advance project to the Nunavik Marine Region Impact Review Board ("NMRIRB") for a Part 5 Review in association with the Canadian Environmental Assessment Act 2012 ("CEAA 2012") and the Nunavik Inuit Land Claims Agreement.The practical result of this ruling, with a request from the Minister for the NMRIRB to work closely with the CEAA, is that it will streamline the environmental review process in that the Company will submit one Environmental Impact Statement which responds to both CEAA 2012 as well as the NMRIRB requirements under the Nunavik Inuit Land Claims Agreement.The Minister's ruling represents an additional milestone in the progression of the overall environmental review process.Alan Gorman, President/COO, commented, "We are pleased that the Minister has finalized his decision in respect of the NMRIRB review process for the Hopes Advance project. The ruling of Hon. Mr. Kent is consistent with what the Company anticipated and allows us to advance the environmental impact assessment through to the submission of an Impact Statement required in support of the future permitting of the project."OCEANIC IRON ORE CORP. (www.oceanicironore.com)On behalf of the Board of DirectorsSteven Dean, Chairman and Chief Executive OfficerFOR FURTHER INFORMATION PLEASE CONTACT: 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. Contact Information: Oceanic Iron Ore Corp.Steven DeanChairman and Chief Executive Officer+1 604 566 9080+1 604 566 9081 (FAX)www.oceanicironore.com