The flagship Hopes Advance Project has a NI 43-101 Measured & Indicated resource of about 1.36 billon tonnes at a head grade of 32.1% Fe.
Canada, 11th Sep 2026 – Global Stocks News – Sponsored content disseminated on behalf of Oceanic Iron Ore. On September 9, 2026, Oceanic Iron Ore (TSXV: FEO) issued a message to shareholders entitled “Introduction to Chris Batalha and Oceanic Iron Ore”.
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.
The flagship Hopes Advance Project has a NI 43-101 Measured & Indicated resource of about 1.36 billion tonnes at a head grade of 32.1% Fe. The project is located at tidewater. The PEA highlights that Oceanic will not require a railroad to get its iron ore to market, significantly reducing capital and operating costs.
Introduction to Chris Batalha and Oceanic Iron Ore
Chris Batalha
CEO of Oceanic Iron Ore
This is the first of ten messages that will be sent to Oceanic Iron Ore (TSX.V: FEO) shareholders, explaining our business objectives, strategies, and the value proposition for investors.
Our primary focus is the development of the Hopes Advance iron ore project, located on the northeast coast of Québec, Canada. We have an NI 43-101 Measured & Indicated mineral resource of 1.36 billion tonnes of high-grade iron ore. We are currently trading at approximately 10% of Net Asset Value (NAV). Because we are located at tidewater, we do not require a railway to get our product to market.
A brief personal and professional background: I was born and raised in Vancouver, BC. I currently live with my wife and two children in the city of Richmond, 15 kilometres to the south. I am a Chartered Professional Accountant and hold a Bachelor of Commerce from the University of British Columbia.
In 2011, I was recruited onto the Oceanic team by Steven Dean, our current Chairman and Director. Steven has a track record of transforming junior companies into multibillion-dollar enterprises. Throughout my career, Steven has been a valued mentor, champion and collaborator. We worked together at Artemis Gold and Atlantic Gold, where we developed the Moose River Consolidated Mine in Nova Scotia. I learned how to build a mine on time, on budget, with a competitive All-In Sustaining Cost (AISC). Atlantic Gold was sold in 2019 for C$802 million.
When I started working at Oceanic fifteen years ago, I was a junior controller. Later, I became the CFO. In August 2024, I was appointed to the position of CEO. I’ve worked my way up the ladder, tackling a variety of operational challenges in rising positions of responsibility.
The corporate history of Oceanic involves an initial period of active development, strategic hibernation during lower commodity prices, and now the recent resumption amidst a stronger commodity market outlook.
Frank Giustra identified this asset 17 years ago. At that time, it was controlled by Pat Sheridan, a legendary prospector, stock promoter and mine developer. It took a few years to close the deal. After the 2010 acquisition, Steven Dean joined the team as CEO and Chairman. Along with Frank Giustra, Steven Dean acquired a significant personal stake in the project. After 2 years of significant advancement of the Project, the commodity cycle was losing steam. The price of iron ore dropped from $180 per tonne in 2011 to $45 per tonne in 2016.
This led Giustra and Dean to place Oceanic into care and maintenance. Exploration and development halted, but belief in the long-term value of the project did not. Management and the Board continued to fund essential programs and keep the mineral claims active. As Iron Ore prices recovered, political and trade tensions between Canada and China came to a boil.
At the time, China was the predominant consumer of iron ore. Given that our largest shareholder was Chinese, we were forced to extend our period of hibernation. Management believed that the Canadian Government was unlikely to approve a project with a majority of Chinese shareholders.
On August 13, 2025, the Chinese investment fund sold its Oceanic stake to local investors, including insiders. Iron ore prices have stabilised above $100 per tonne. Our high-grade iron ore is in high demand for use in infrastructure, EVs, wind turbines, and green energy projects.
In the next message, I will introduce you to our Ungava Bay assets.
Click here to visit Oceanic Iron Ore’s website.
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