MAINLAND RESOURCES, INC. SELLS HAYNESVILLE SHALE INTEREST TO UNDISCLOSED COMPANY FOR OVER US27 MILLION

MAINLAND RESOURCES, INC. SELLS HAYNESVILLE SHALE INTEREST TO UNDISCLOSED COMPANY FOR OVER US27 MILLION

Houston, Texas March 15, 2010 Mainland Resources, Inc. (OTCBBMNLU, Frankfurt 5MN), a Nevada Corporation (Mainland) reports that the Company and an undisclosed buyer have executed a Purchase and Sale Agreement for Mainlands Haynesville Shale interest on the Companys DeSoto Parish, Louisiana leases.

Under the terms of the agreement, Mainland Resources, Inc. (the Seller) and the Buyer have signed a Purchase and Sales Agreement dated March 12, 2010, covering Mainlands 40% working interest, which includes all of the rights 100 feet below the stratigraphic equivalent of the base of the Cotton Valley formation in the East Holly field, DeSoto Parish, Louisiana.

The effective date of the sale will be January 1, 2010 with a closing date on or before May 1, 2010.

Mainland will sell all rights below the base of the Cotton Valley, which represents a 40% working interest in 2,903.07 gross acres or 1,162.3 net acres. Mainland Resources, Inc. will retain all rights in 2,745.65 net acres as to all formations above the base of the Cotton Valley formation.

The Buyer will pay US 17,500 per acre for the 1,162.3 net acres or a total of US 20,321,525, plus it will reimburse Mainland for all drilling and completion costs paid by Mainland prior to closing. The total drilling and completion costs are estimated to be 6,821,168 for a total projected purchase price of US 27,142,693. Mainland had originally purchased 2,695 net acres from Permian Basin Acquisition Fund for US 687,596 in March 2008.

Mainland Resources, Inc. intends to use the proceeds of the sale to fund the drilling of the initial well on its Buena Vista project in Mississippi, as well as commence development drilling for the Hosston/Cotton Valley formations in the East Holly Field, DeSoto Parish, Louisiana and to retire its debt with Guggenheim Partners LLC. It is estimated that Mainland has 65 net drilling locations to the Hosston/Cotton Valley formations.

About Mainland Resources, Inc.

Mainland Resources is a junior company engaged in the exploration and development of
oil and gas resources. The Companys current initiatives are focused on the acquisition
and development of leases in emerging gas regions with the potential for discoveries
including the Haynesville shale.

Symbol: MNLU OTCBB, Symbol: 5MN; Frankfurt, WKN No.: A0ND6N
Contact: Investor Relations (USA)

Mainland Resources, Inc. contd

Tel. 281-469-5990
Investor Relations (Europe)
Tel. 49-69-7593-8408

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FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH PROPERTY
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COMPANYS ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES.
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ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO
UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS
COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE
COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS
RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR
INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET
FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANYS PERIODIC
REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.

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CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY
SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD
BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH
JURISDICTION.