No... about 225°. You do NOT want smoke with Mineral Oil, the vapors are harmful to the lungs. Make sure you place it in a pan, brush it on (saturate well), let excess drain. Then commence wipe down. I start with paper towels, and once it looks dry, I switch to cotton cloths, until it doesn't feel oily at all. :)
A little goes a long way. Food Grade Mineral oil... I buy at the Dollar Store most times. :)