Oceanic Announces Change to Board of Directors

Ste. 3083 – 595 Burrard Street Ste. 700– 1000 rue Sherbrooke W Vancouver, BC V7X 1L3 Montréal, QC H3A 3G4 Tel: 604 566 9080 Tel: 514 289 1183 Fax: 604 566 9081 Fax: 514 289 1188

August 27, 2015 TSX Venture Exchange: FEO

PRESS RELEASE

OCEANIC ANNOUNCES CHANGE TO BOARD OF DIRECTORS

Vancouver, BC - Oceanic Iron Ore Corp. ("Oceanic", or the "Company") today announces the resignation of Gregg Sedun as a director of the Company. The Board would like to thank Mr. Sedun for his contributions over the past 5 years as a director, as well as his co-founding role with the Company and wish him well in the future. Mr. Sedun has advised he will be available to management to assist with Oceanic in the future if needed, and stated he will continue his support as a loyal shareholder.

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

On behalf of the Board of Directors

"Steven Dean"

Executive Chairman +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.