LAKEWOOD MINING CO. LTD.

1756 246^th Street

Langley, B.C. V2Z 1G4

Tel: (604) 514-0041 Fax: (604) 514-9702

TSX. V: – LKW

May 22, 2007

NEWS RELEASE

Pursuant to the Company’s stock option plan, approved by the shareholders and the TSX Venture Exchange (the “Exchange”), the Company has granted 175,000 stock options at a price of $0.11 per share for a term of three years. The closing trading price of the company’s shares today was $0.11 per share.

Lakewood Mining Co. Ltd.

Per:

“Charles Boitard”

Charles Boitard, President

The TSX Venture Exchange has not reviewed and does not accept any responsibility for the adequacy or accuracy of the contents of this news release.