Oceanic Acknowledges Quebec Government's Plan Nord Vision and Strategy

MONTREAL, QUEBEC--(Marketwired - Apr 13, 2015) - Oceanic Iron Ore Corp. (TSX VENTURE:FEO) ("Oceanic", or the "Company") announces that it acknowledges the strategy, vision, and commitments, defined by the government of Québec in its recently released comprehensive action plan.

On April 8, 2015 Premier Couillard and the cabinet of the Québec government announced its framework related to northern economic development in the province of Québec with a comprehensive 20 year action plan. The government's The Plan Nord, Toward 2035 ("Plan Nord") framework can be accessed via Le Société du Plan Nord website at http://plannord.gouv.qc.ca/wp-content/uploads/2015/04/Long_PN_EN.pdf

Oceanic's Hopes Advance project has been identified among 17 specific mining development projects, within the territory covering Plan Nord, as a current focal point within the context of Plan Nord.

Alan Gorman, President/ CEO indicated: "We are pleased that the Québec government continues to recognize the significance of the resource rich economic potential contained in the province's northern territory in which the Company's Hopes Advance project is situated. We are particularly encouraged by the government's vision which acknowledges and recognizes that mining development should not be deferred simply because recent market conditions have been less favourable. Commodities have always been cyclical in nature and the focus of the government, consistent with that of the Company, is this should not be a deterrent to moving forward with their development.

The ability to link the continuing development of the project to the government's vision and commitments in respect of mining development is helpful as we continue to engage in discussions that will unlock the value associated with our high quality, low cost resources. We look forward to continuing to work with both the Québec government, the Kativik Regional Government, and local stakeholders, within the context of sustainability, in order to contribute as a cornerstone industry partner, in this significant economic and social undertaking."

Oceanic Iron Ore Corp. (www.oceanicironore.com)

On behalf of the Board of Directors

Steven Dean, Executive Chairman and Director

This news release includes certain "Forward-Looking Statements" as that term is used in applicable securities law. All statements included herein, other than statements of historical fact, including, without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of Oceanic Iron Ore Corp. ("Oceanic", or the "Company"), are forward-looking statements that involve various risks and uncertainties. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "scheduled", "believes", or variations of such words and phrases or statements that certain actions, events or results "potentially", "may", "could", "would", "might" or "will" be taken, occur or be achieved. There can be no assurance that such statements will prove to be accurate, and actual results could differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. In making the forward-looking statements in this presentation, the Company has applied several material assumptions, including, but not limited to, the assumption that: (1) there being no significant disruptions affecting operations, whether due to labour/supply disruptions, damage to equipment or otherwise; (2) permitting, development, expansion and power supply proceeding on a basis consistent with the Company's current expectations; (3) certain price assumptions for iron ore; (4) prices for availability of natural gas, fuel oil, electricity, parts and equipment and other key supplies remaining consistent with current levels; (5) the accuracy of current mineral resource estimates on the Company's property; and (6) labour and material costs increasing on a basis consistent with the Company's current expectations.

Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risks and Uncertainties " in the Company's MD&A filed February 25, 2015 (a copy of which is publicly available on SEDAR at www.sedar.com under the Company's profile) and elsewhere in documents filed from time to time, including MD&A, with the TSX Venture Exchange and other regulatory authorities. Such factors include, among others, risks related to the ability of the Company to obtain necessary financing and adequate insurance; the economy generally; fluctuations in the currency markets; fluctuations in the spot and forward price of iron ore or certain other commodities (e.g., diesel fuel and electricity); changes in interest rates; disruption to the credit markets and delays in obtaining financing; the possibility of cost overruns or unanticipated expenses; employee relations. Accordingly, readers are advised not to place undue reliance on Forward-Looking Statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Statements, whether as a result of new information, future events or otherwise.

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.

Contact

Oceanic Iron Ore Corp.
Steven Dean
Executive Chairman and Director
+1 604 566 9080
www.oceanicironore.com