Oceanic Announces Settlement of Debenture Interest FOR Common Shares

51376330.2

September 30, 2025 TSX Venture Exchange: FEO

ALL AMOUNTS ARE STATED IN CANADIAN DOLLARS, UNLESS OTHERWISE NOTED

PRESS RELEASE

OCEANIC ANNOUNCES SETTLEMENT OF DEBENTURE INTEREST FOR COMMON SHARES

Vancouver, BC - Oceanic Iron Ore Corp. (TSXV: FEO) ("Oceanic", or the "Company") is pleased to announce

that on September 30, 2025, it elected to settle an aggregate of $128,145 in accrued interest due under

the Company's previously issued Replacement Series A Convertible Debentures, Replacement Series B

Convertible Debenture, Series C Convertible Debentures, Series D Convertible Debentures and Series E

Convertible Debentures, by issuing 142,383 common shares in the capital of the Company at a price equal

to $0.90 per common share, representing the closing share price at September 30, 2025.

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

On behalf of the Board of Directors

"Steven Dean"

Chairman

For further information: Gerrie van der Westhuizen, CFO & 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.