Oceanic Commences Process and Product Optimization Study to Confirm High Quality Iron Product Range

Oceanic Commences Process and Product Optimization Study to Confirm High 
Quality Iron Product Range 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/31/13 -- Oceanic
Iron Ore Corp. ("Oceanic", or the "Company") (TSX
VENTURE:FEO)(OTCQX:FEOVF) announces that it has commissioned a
process and product optimization study (the "Study") which will
enable the Company to determine the potential range of sinter feed
and pellet feed product quantities and qualities that can be produced
from the Hopes Advance project. 
The Study is being undertaken to further enhance the Company's
understanding of the full range of process and product capabilities
for the Hopes Advance project, helping to ensure a broad base for
future off-take product agreements, including the maximization of
potential premiums and the optimization of the Company's targeting of
potential future end user markets and potential development partners. 
The Study will be led by Met-Chem, who led the process flow sheet
design in respect of the Company's pre-feasibility study, and will be
supported by SGS Mineral Services Lakefield for the required
laboratory testwork. 
Alan Gorman, President/ COO indicated: "We anticipate that evidencing
our ability to produce a high quality sinter product in addition to
the demonstrated characteristics of our high quality pellet
concentrates, will broaden the market demand for the product
This testing is also an important component of the feasibility stage
development of the Hopes Advance project and we believe the results
will reinforce our view that products to be produced will be highly
desired by the market." 
As previously reported, during the 2011 field season the Company
collected two bulk samples, including a 250 tonne bulk sample from
principal deposits of the Hopes Advance project area. The pilot plant
program determined that, based on particle size distribution before
optimization, the Hopes Advance ores are capable of concentration to
produce high quality sinter feed and pellet feed. The Company's
pre-feasibility study defined a process flow sheet that resulted in
the production of a high grade pellet feed product. The Study will
determine the optimal process and product specifications and product
quantities for both the sinter feed and pellet feed products.  
The Study will also examine the specific chemistries of both
products, and will examine the range of product combinations that
might be available with minor revisions to the Hopes Advance process
flow sheet. This will help the Company identify opportunities to
facilitate the segregation of coarser product as well as identify the
scope for modifications to downstream material handling and storage
equipment and facilities.  
The Company anticipates that the Study, together with the pot grate
laboratory testwork, commenced in 2012, which supports the
transformation of concentrate to pellets and confirms the technical
specifications and product quality, will be concluded during the
second quarter of 2013 allowing any required changes to the process
flowsheet to be incorporated into the feasibility study results.  
Oceanic's Hopes Advance concentrate is a clean high grade
concentrate. Hopes Advance ore has a low bond work index of 5.3 kWh/t
and a high gravity recovery process response with 85% of the iron ore
concentrate being produced by low cost spiral gravity separation, and
the remaining 15% being produced by low intensity magnetic
separation. The product will average 66.6% Fe, less than 4.5% Si, and
very low values on all other trace elements, as highlighted in the
table below. 
Table 1 - Product Chemistry (Castle Mountain Deposit, Hopes Advance

Fe             SiO2    Mg0    Ca0      AI203         Na          K
66.6%          4.5%   0.1%   0.4%  less than  less than  less than
                                       0.01%      0.01%      0.01%
Mn                      Ti         Cr          V          P      S
0.22%            less than  less than  less than  less than  0.03%
                     0.01%      0.01%      0.01%      0.01%       

OCEANIC IRON ORE CORP. (www. oceanicironore.com) 
On behalf of the Board of Directors 
Steven Dean, Chairman and Chief Executive Officer 
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. 
Oceanic Iron Ore Corp.
Alan Gorman
President and COO
+1 514 289 1183
514 289 1188 (FAX) 
Oceanic Iron Ore Corp.
Stephen Roberts
Vice President - Investor Relations
+1 604 609 6130
Oceanic Iron Ore Corp.
Steven Dean
Chairman and Chief Executive Officer
+1 604 566 9080
604 566 9081 (FAX)
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