OCEANIC ANNOUNCES SETTLEMENT OF DEBENTURE INTEREST FOR COMMON SHARES

TSX Venture Exchange: FEO

ALL AMOUNTS ARE STATED IN CANADIAN DOLLARS, UNLESS OTHERWISE NOTED

VANCOUVER, BC, Sept. 30, 2025 /CNW/ - Oceanic Iron Ore Corp. (TSXV:FEO.VN) ("Oceanic", or the "Company") is pleased to announce that on September 30, 2025, it elected to settle an aggregate of $128,145 in accrued interest due under the Company's previously issued Replacement Series A Convertible Debentures, Replacement Series B Convertible Debenture, Series C Convertible Debentures, Series D Convertible Debentures and Series E Convertible Debentures, by issuing 142,383 common shares in the capital of the Company at a price equal to $0.90 per common share, representing the closing share price at September 30, 2025.