LAKEWOOD MINING CO. LTD.

1756 246^th Street, Langley, B.C. V2Z 1G4

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

TSX Venture Exchange – LKW July 27, 2006

NEWS RELEASE

Re: IP and MMI Survey Progress Report

Wood Group Mining Claim

Afton Mines Area, Kamloops M.D, B.C.

The IP/resistivity and MMI soil sampling field work has been completed on the Wood Claim Group. Much of the data reduction has been completed and some of the results from the laboratory have been received. The purpose of the work was to follow up on strong MMI soil anomalies discovered in the 2005 exploration program. This was done by carrying out detail work in order to better define the anomalous zones for the purpose of drill targets.

The work has defined three target areas which have been named (1) the Dorado North Zone, (2) the Dorado South Zone, and (3) the Corona Zone. Each zone consists of a strong MMI gold anomaly correlating with silver and copper anomalies. These three also correlate with IP anomalies. The Dorado North and the Dorado South IP anomalies are especially strong.

The remaining MMI soil results are expected to be received within about two weeks. At that time, an interpretive report will be submitted.

This news release was prepared by David Mark, P.Geo, QP, senior geophysicist and director for the company.

The Wood Property is owned and operated in a 50/50 joint venture with Green Valley Mine Incorporated. (TSX.V: GVY).

Lakewood Mining Co. Ltd.

Per:

“Charles Boitard”

Charles Boitard

President

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