Oceanic Announces Engagement of Alex Motherwell to Provide Capital Markets and Investor Relations Services

Press Release

June 8, 2026

Vancouver, BC – Oceanic Iron Ore Corp. (TSXV – FEO) (“Oceanic”, or the “Company”) is pleased to announce that it has signed an agreement (the “Agreement”) to retain Alex Motherwell to provide ins tu onal and strategic investor stewardship, marke ng, and capital markets management services to the Company, dated and effec ve today, in accordance with the policies and guidelines of the TSX Venture Exchange and other applicable legisla on. This arrangement will complement services and marke ng efforts provided by management, and the investor outreach and engagement services provided by Constanta Capital Corp. and Rose & Co.

Alex Motherwell is a capital markets professional with over 15 years of experience in investment banking, equity research, and ins tu onal sales. Most recently, he served as Director, Ins tu onal Equity Sales at fel Canada. Prior experience includes senior roles at Canaccord Genuity in New York, Dundee Securi es, RBC, and Macquarie, advising global buy-side ins tu ons including asset managers, hedge funds, family offices, and pensions. Mr. Motherwell has played a key role across mul ple M&A and capital markets transac ons. His exper se encompasses cross-border capital raising, financial and quan ta ve modeling, equity and debt financings, and ins tu onal rela onship management. Mr. Motherwell holds an Honours Business Administra on degree from the Ivey Business School at Western University.

Under the terms of the Agreement, Mr. Motherwell will receive an hourly fee of C$200, payable from the Company’s cash on hand. The agreement has an indefinite term, but may be terminated by either party with 30 days’ no ce. Alex Motherwell is at arm’s length to the Company and currently owns 5,000 common shares.

Op on Grant

The Company has granted 100,000 stock op ons to Mr. Motherwell (the “OpƟons”), pursuant to the Company’s Stock Op on Plan. The Op ons are exercisable at a price of $0.76 per share (based on the closing price on June 5, 2026) for a period of 5 years from the date of grant.

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

On behalf of the Board of Directors
“Chris Batalha”

CEO and Director

For further information: Chris Batalha, CEO and Director, +1 (604) 566-9080.

About Oceanic:

Oceanic is focused on the development of its 100% owned Hopes Advance, Morgan Lake and Roberts Lake iron ore development projects located on the coast in the Labrador Trough in Québec, Canada. Oceanic’s flagship Hopes Advance Project has a NI 43-101 measured and indicated mineral resource of approximately 1.36 bn tonnes and enjoys the dis nct advantage of being located at dewater and not being reliant on third par es for key infrastructure such as port, power and especially bulk transporta on to port (nega ng the need for any rail infrastructure).

In December 2019, the Company published the results of a preliminary economic assessment completed in respect of the flagship Hopes Advance project outlining a base case pre-tax NPV8 of USD$2.4 bn (post-tax NPV8 of USD $1.4 bn) over a 28 year mine life, and a life of mine opera ng cost of approximately USD $30/tonne, producing a blast furnace concentrate product grading at 66.5%Fe with approximately 4.5% Silica.

More recently, the Company has completed preliminary metallurgical testwork that indicates the poten al to produce a high-grade, direct reduc on Iron product, based on laboratory-scale flota on tes ng which may be achievable with modest modifica ons to the exis ng flowsheet, thereby providing versa lity in product choice and contribu ng to the global green-steel movement. Further informa on in respect of the Morgan Lake and Roberts Lake projects, both of which have been explored historically and which have defined historical resources, is also available on the Company’s website.

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