LAKEWOOD MINING CO. LTD.

1756 246th Street

Langley, B.C.   V2Z 1G4

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

 

TSX. V:  – LKW

 

 

October 21, 2009

 

NEWS RELEASE

 

Further to the Company’s news release of September 28, 2009, the Company announces that it has issued to certain of its creditors an aggregate of 8,768,965 common shares in settlement of $414,461.60 worth of debt.  The Company issued 1,199,333 shares at a deemed price of $0.03 per share in settlement of $35,980.00 worth of debt and 7,569,632 shares at a deemed price of $0.05 per share in settlement of $378,481.60 worth of debt.  The shares are subject to a hold period which expires at midnight on February 20, 2010.

 

 

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.