Oceanic Announces Granting of Stock Options

June 30, 2020 TSX Venture Exchange: FEO

PRESS RELEASE

OCEANIC ANNOUNCES GRANTING OF STOCK OPTIONS

Vancouver, BC - Oceanic Iron Ore Corp. (TSXV: FEO) (“Oceanic” or the “Company”) announces that pursuant to the Company's Stock Option Plan, a total of 3,405,000 incentive stock options (the “Options”) have been granted to directors, officers and consultants of the Company. The Options are exercisable at a price of $0.14 per share for a period of 10 years expiring on June 29, 2030.

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

On behalf of the Board of Directors

"Steven Dean"

Executive Chairman

+604 566-9080

FOR FURTHER INFORMATION, PLEASE CONTACT:

Chris Batalha CFO and Corporate Secretary +604 566-9080

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.

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.