An anonymous director reports

ALEXCO ANNOUNCES EXERCISE OF UNDERWRITER'S OVER-ALLOTMENT OPTION

Alexco Resource Corp.'s underwriter has provided notice of exercise of its overallotment option to purchase an additional 915,000 units of the company at a price of $1.15 per additional unit for gross proceeds of $1,052,250 under the company's short form prospectus dated Aug. 15, 2014.

Each additional unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will be exercisable to purchase one common share of the company at an exercise price of $1.40 on or before Aug. 21, 2016.

The closing of the overallotment option is scheduled to take place on Thursday, Aug. 28, 2014. The underwriter will receive a cash fee equal to 6.5 per cent of the gross proceeds raised and compensation warrants equal to 6.5 per cent of the additional units, 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, as disclosed in the prospectus.