Oceanic Grants Incentive Stock Options

Ste. 3083 – 595 Burrard Street Ste. 560 – 999 De Maisonneuve Blvd W Montréal, QC H3A 3L4 Vancouver, BC V7X 1L3 Tel: 514.289.1183 Tel: 604 566 9080 Fax: 514.289.1188 Fax: 604 566 9081

May 25, 2012 TSX Venture Exchange: FEO OTCQX : FEOVF

PRESS RELEASE

OCEANIC GRANTS INCENTIVE STOCK OPTIONS

Vancouver, BC, May 25, 2012 - Oceanic Iron Ore Corp. (“Oceanic”, or the “Company”) has granted an aggregate of 1,000,000 incentive stock options at $0.27 per share for ten years to an officer of the Company, subject to regulatory approval.

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

On behalf of the Board of Directors

"Steven Dean"

Chairman and Chief Executive Officer +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.