Oceanic Announces Granting of Stock Options and Restricted Share Units

March 20, 2019 TSX Venture Exchange: FEO

PRESS RELEASE

OCEANIC ANNOUNCES GRANTING OF STOCK OPTIONS AND RESTRICTED SHARE UNITS

Vancouver, BC - Oceanic Iron Ore Corp. (“Oceanic” or the “Company”) announces that pursuant to the

Company's Stock Option Plan, a total of 1,990,000 incentive stock options (the “Options”) have been

granted to directors, officers and consultants of the Company. The Options are exercisable at a price of

$0.09 per share for a period of 10 years expiring on March 19, 2029.

Furthermore, pursuant to Oceanic’s Restricted Share Unit (“RSU”) plan, the Company’s compensation

committee and board of directors has authorized the granting of 684,157 RSUs to officers, directors, and

employees of the Company.

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.