Oceanic Commences Product Value in Use Marketing Study

Oceanic Commences Product Value in Use Marketing Study 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/07/13 -- Oceanic
Iron Ore Corp. (TSX VENTURE:FEO)(OTCQX:FEOVF) ("Oceanic", or the
"Company") announces that it has awarded a Marketing Study ("Study")
to Vulcantech Technologies Pty Limited ("Vulcantech"). 
The purpose of the Study is to broaden the Company's strategic
understanding of the market for its future Hopes Advance iron ore
Market analysis will be performed summarizing best fit between Hopes
Advance iron products and end users taking into consideration
geography and technical parameters, in particular focusing on how
high quality iron products from the Hopes Advance project might blend
with current steel manufacturer feed sources to enhance steel quality
and blast furnace results. The Study will also report on potential
premiums and recommendations in respect of optimizing revenues based
on end user demand profiles. 
Vulcantech will recommend a comprehensive marketing strategy to
Oceanic in order to optimize the product placement and revenues
associated with future production, currently planned to commence at
10 million tonnes per annum during 2017. The Company anticipates that
the Study will conclude during the second quarter of 2013 and that
the results will support Oceanic's current and future efforts to
secure off-take agreements with potential customers. 
The Study will be led by Mr. Paul Vermeulen, Founder and Director of
Vulcantech. Mr. Vermeulen is a Metallurgical Engineer with
significant experience in iron ore, as well as iron and steel making.
Paul has spent eleven years in various operational and management
positions at the then Iscor South Africa (Arcelor-Mittal South
Africa), and has gained an intimate knowledge of coke making,
sintering, iron making and steel making. 
Before establishing Vulcantech in 2007, Mr. Vermeulen spent five
years within the Rio Tinto Iron Ore group, where he helped to
establish higher pricing benchmarks for certain iron ore products,
developed models for Rio Tinto Coal, Rio Tinto Iron Ore, and assisted
steel making customers in their operations. 
Alan Gorman, President/COO, indicated: "We are pleased to have
awarded the current study to Vulcantech Technologies. Mr. Vermeulen's
in depth understanding of the end user market and considerable
experience within the iron ore sector will enable us to identify and
pursue the best customers, and prices, for our future production." 
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
514-289-1188 (FAX) 
Oceanic Iron Ore Corp.
Stephen Roberts
Vice President - Investor Relations
Oceanic Iron Ore Corp.
Steven Dean
Chairman and Chief Executive Officer
604-566-9081 (FAX)
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