Oceanic Iron Ore Corp. Announces the Appointment of Chief Financial Officer

(formerly Pacific Harbour Capital Ltd.)

Ste. 3123 – 595 Burrard Street Vancouver, BC V7X 1J1 Tel: 604-609-6110 Fax: 604-609-6145

January 7, 2011 TSX Venture Exchange: FEO

PRESS RELEASE

OCEANIC IRON ORE CORP. ANNOUNCES THE APPOINTMENT OF CHIEF FINANCIAL OFFICER

Vancouver, BC, January 7, 2011 – The Board of Oceanic Iron Ore Corp. (TSX-V: FEO) (the “Company”) is pleased to announce the appointment of Mr. Irfan Shariff as Chief Financial Officer and corporate secretary of the Company. Mr. Shariff is a chartered accountant who started his career with PricewaterhouseCoopers in Vancouver, B.C. before moving to Citigroup in London, UK, where he spent nearly eight years working in the mergers and acquisitions group. Since returning to Vancouver in 2008, Mr. Shariff has worked as a consultant to a number of junior resource companies based in Vancouver.

Mr. Gordon Keep will step down as the Company’s interim CFO and corporate secretary but will remain a director of the Company.

On behalf of the Board of Directors OCEANIC IRON ORE CORP.

"Steven Dean"

Chairman and Chief Executive Officer

Enquiries:

Mr. Steven Dean - +1604 697 6202 Mr. Gregg Sedun - +1604 345 6642 Mr. Irfan Shariff - +1 604 637 1141

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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