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Oceanic Iron Reports Significant Assays from Hopes Advance Project

Oceanic Iron Ore Corp. (FEO.V), which traded slightly below 20-day SMA $0.28 at yesterday's close, announced today a further set of assay results from both twinned and new exploration holes conducted as part of its 2011 resource verification program at the Hopes Advance project area.

Steven Dean, Chairman and CEO, said: "The exploration drill holes that we are reporting today illustrate significant potential upside for the Hopes Advance resource which should become apparent when we release the updated resource estimate for Hopes Advance in the coming months."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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