Oceanic Announces Granting of Stock Options

Ste. 3083 – 595 Burrard Street Ste. 700– 1000 rue Sherbrooke W Montréal, QC H3A 3G4 Vancouver, BC V7X 1L3 Tel: 514 289 1183 Tel: 604 566 9080 Fax: 604 566 9081 Fax: 514 289 1188

January 20, 2017 TSX Venture Exchange: FEO

PRESS RELEASE

OCEANIC ANNOUNCES GRANTING OF STOCK OPTIONS

Montreal, QC - Oceanic Iron Ore Corp. (“Oceanic” or the “Company”) announces that pursuant to the Company's Stock Option Plan, a total of 1,280,000 incentive stock options have been granted to directors, officers, and consultants of the Company. The options are exercisable at a price of $0.25 per share for a period of 10 years expiring on January 20, 2027.

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

On behalf of the Board of Directors

“Alan Gorman”

President, Director and Chief Executive Officer +1 514 289 1183

For additional information contact:

Chris Batalha CFO and Corporate Secretary +1 604 566 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.