Oceanic Iron Ore Corp. (TSX VENTURE:FEO)(OTCQX:FEOVF) (the "Company") is pleased
to announce that it has filed a National Instrument 43-101 Technical Report on
the mineral resource estimate and results of the preliminary economic assessment
("PEA") in respect of the Company's Hopes Advance project. The 43-101 mineral
resource estimate was announced in a press release dated September 21, 2011 and
the results of the PEA were announced in a press release dated September 22,
2011. There are no material differences between the results announced in the
news releases and the results in the Technical Report.


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

On behalf of the Board of Directors

Steven Dean, Chairman and Chief Executive Officer
Oceanic Iron Ore (TSXV:FEO)
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