Alexco Resource (AXU) Announces 4.054M Common Share Offering

Alexco Resource Corp. (NYSE: AXU) is pleased to announce that further to its previously announced over-night marketed public offering (the "Offering") of common shares of the Company (the "Common Shares"), it has entered into an underwriting agreement with a syndicate of underwriters co-led by Cormark Securities Inc. and Cantor Fitzgerald Canada Corporation, and including Canaccord Genuity Corp. (collectively the "Underwriters") to sell 4,054,500 Common Shares at a price of $1.85 per share (the "Offering Price") for gross proceeds of $7.5 million. The Company has granted to the Underwriters an option (the "Over-Allotment Option"), exercisable in whole or in part, in the sole discretion of the Underwriters, for a period of 30 days from and including the closing of the Offering, to purchase up to an additional 608,175 Common Shares ("Option Shares") at the Offering Price. If the Over-Allotment Option is exercised in full, the total gross proceeds to the Company will be $8.6 million.

The Company shall pay the Underwriters a commission equal to 6.0% of the gross proceeds of the Offering, including proceeds received from the exercise of the Over-Allotment Option, if any.

The Company intends to use the net proceeds of the Offering for preservation and measured advancement of mine development activity at Keno Hill, exploration and for general working capital purposes.

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