Mainland Appoints New VP of Business Devt, Board Members

Mainland Resources' management has accepted the appointment of Peter G. Wilson as Vice President of Business Development, and Peter G. Wilson and Johnathan A. More as members of the Board of Directors.


During the past 18 years, Peter G. Wilson has been actively involved in senior level management of public companies through his private investment company. His experience spans a wide range of project finance, development and contract negotiations within the mining, energy and real estate industries. His business experience includes international assignments in the United Kingdom, Canada, the United States, Switzerland and Norway. Mr. Wilson has worked extensively with overseas investor groups and within the E&P market in Louisiana, Texas and Oklahoma.


From October 2008 to present, he has lead the finance and exploration team as President and CEO of Morgan Creek Energy Corp, which is planning new drilling initiatives in Oklahoma and New Mexico in late 2009 and 2010


During April 2007 through October 2009, Mr. Wilson was the President and Director of Hana Mining Ltd., a publicly TSX-V listed exploration company seeking to develop a major copper-silver resource in Botswana, Africa. As the lead financier, Mr. Wilson raised more than CDN $12 million which lead to the current discovery of more than 3 billion pounds of copper and 52 million ounces of silver. Additionally, during 2005 and 2006, he served as the president and chief executive officer of Sun Oil and Gas Corp., and from 1997 to 2005, Mr. Wilson was a director and vice president of Petroreal Oil Corp., a small oil producer engaged in energy asset purchases aggregating more than $130,000,000.


From 1993 to 1999, Mr. Wilson was the vice president of Samoth Equity Corporation (now Sterling Center Corp.), a $150 Million real estate lender, where he began his involvement with capital markets and finance.


Johnathan More has been in the investment business for the past 12 years. He was an investment advisor with the brokerage firms Goepel McDermid Securities, Dundee Securities and most notably, Canaccord Capital Corporation in Vancouver, Canada during that time. Mr. More was a top producer in his four-year tenure with Canaccord and was awarded a Vice President position. He elected to retire from Canaccord in August 2008 in order to pursue personal financial opportunities.


In February 2009, Mr. More founded an investment banking company, JM Finance Ltd., which he oversees as President and CEO. He has been applying his history of achievements from the brokerage sector to projects in North American and European Capital markets with a focus on natural resource industries. He currently serves as President and CEO of Aldrin Resource Corp, a publicly listed TSX Venture Canadian-based mining company and as President and CEO of Mira Resources Corp, a TSX NEX exchange company seeking to acquire oil and gas assets in Ghana, Africa.


The Company also accepted the resignations of Mike Newport, Mark N. Witt, Charles Morrison and Jack Cox from their positions as Directors of the Board effective December 4, 2009. This reduction in the number of directors is intended to reduce the total number of Directors and create an independent Board that is more in keeping with the size of the Company.


Mike Newport will continue to serve the Company in his position as CEO and President of Mainland Resources, Inc. Mark N. Witt remains as Chief Financial Officer of the Company and there are no further management changes as a result of these resignations from the Board. Charles Morrison and Jack Cox will remain as advisors to the Company and its Directors.