TSX. V: – LKW

November 2, 2009

NEWS RELEASE

Lakewood Mining Co. Ltd. (the “Company”) is pleased to announce the closing of the private placement announced on September 28, 2009. The Company has issued 2,195,966 units at a price of $0.03 per unit for gross proceeds of $65,879. Each unit is comprised of one common share and one share purchase warrant, each warrant entitling the holder to purchase one common share of the Company at a price of $0.05 during the first year and $0.10 during the second year. All securities are subject to a hold period expiring at midnight on February 28, 2010.

The proceeds from the private placement will be used for general working capital.

ON BEHALF OF THE BOARD OF DIRECTORS:

Charles Boitard”

Charles Boitard

President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.