Mr. Clynton Nauman reports

ALEXCO COMPLETES C$7 MILLION BOUGHT DEAL FINANCING

Alexco Resource Corp. has closed its previously announced bought deal public offering of units through Canaccord Genuity Corp. as underwriter.

The company issued 6.1 million units at a price of $1.15 per unit for gross proceeds of $7,015,000. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant is exercisable to purchase one common share of the company at an exercise price of $1.40 on or before Aug. 21, 2016.

The company granted Canaccord an overallotment option to purchase up to 915,000 additional units, up to 457,500 additional warrants or a combination of both, provided the maximum number of securities issued does not exceed 15 per cent of the offering, for a period of 30 days after and including the closing date of the offering, to cover overallotments and for market stabilization purposes.

Canaccord received a cash fee equal to 6.5 per cent of the gross proceeds from the offering and 396,500 compensation warrants, with each compensation warrant exercisable for one common share of the company at an exercise price of $1.35 on or before Aug. 21, 2016.

The net proceeds from the offering will be used by the company for exploration and development activities on the company's Flame and Moth deposit and for general working capital purposes.

Further details regarding the offering are contained in the company's short-form prospectus dated Aug. 15, 2014.

We seek Safe Harbor.