Mr. Clynt Nauman reports

ALEXCO ANNOUNCES INDICATED SILVER RESOURCE ESTIMATE INCREASES OF 17% AT FLAME & MOTH AND 37% AT BERMINGHAM, RESULTING IN A 10% INCREASE OVERALL FOR KENO HILL SILVER DISTRICT

Alexco Resource Corp. has released updated mineral resource estimates for the Flame and Moth and Bermingham deposits, both located within the Keno Hill silver district in Yukon. The Flame and Moth indicated mineral resource estimate is expanded from approximately 22.9 million ounces to approximately 26.7 million ounces of contained silver, representing a 17-per-cent increase, while inferred mineral resources in the same deposit increased from approximately 1.1 million ounces to 4.1 million ounces of contained silver. At Bermingham, indicated mineral resources have expanded from 3.8 million ounces to 5.2 million ounces of contained silver. These resources have resulted in an approximate 10-per-cent increase from 50.2 million ounces to 55.4 million ounces of contained silver in Alexco's combined indicated mineral resources at its Keno Hill properties. These overall increases in mineral resource estimates are the result of approximately 18,000 metres of surface diamond drilling completed in 2014.

The updated mineral resource estimates were prepared by SRK Consulting (Canada) Inc.

                     SUMMARY OF MINERAL RESOURCE ESTIMATES

                                            Ag     Au     Pb     Zn   Ag (troy
Deposit           Class(1,2,3)   Tonnes   (g/t)  (g/t)    (%)    (%)    ounces)

Flame and Moth(4)   Indicated 1,638,000    506   0.43   1.89   5.4  26,650,000
                     Inferred   348,000    366   0.26   0.47   4.37  4,095,000
Bermingham(5)       Indicated   377,000    430   0.07   1.59   1.74  5,212,000
                     Inferred    52,000    477   0.12   1.22   1.88    797,000
Notes:
1. The effective date of these mineral resource estimates is April 28, 2015.
2. Mineral resources are not mineral reserves and do not have demonstrated
economic viability. All numbers have been rounded to reflect the relative
accuracy of the estimates.
3. Reported at a contained metal value cut-off grade of $185 per tonne (85 U.S. 
cents per $1) using consensus long-term metal prices and recoveries developed 
for the nearby Bellekeno deposit (Ag $20 (U.S.) per ounce, recovery 96 per 
cent; Pb 94 U.S. cents per pound, recovery 97 per cent; Zn $1 (U.S.) per pound, 
recovery 88 per cent; Au $1,300 (U.S.) per ounce, recovery 72 per cent).
4. Ag grades capped at 7,500 grams per tonne; Zn capped at 30 per cent; limited 
influence of high-grade intersections during estimation.
5. Ag grades capped at 1,500 grams per tonne for the Bermingham vein and the 
Bermingham footwall vein; Pb capped at 9 per cent for both veins; Au grades 
capped at one gram per tonne for both veins.

Alexco president and chief executive officer Clynt Nauman said: "Once again our exploration geologists have demonstrated the tenor and continuity of silver mineralization at Keno Hill, increasing districtwide indicated silver resources for the sixth year in a row. This is especially important at the Flame and Moth deposit, which in aggregate is now the second-largest deposit ever discovered in the historic district. Even more impressive, the Flame and Moth deposit is essentially a blind discovery, with an average grade of more than 500 grams per tonne and average true thicknesses of four to five metres with higher grades for more than half of its approximately one-kilometre traceable length. And therein lies our confidence in exploration to unlock additional value in the district, and our commitment to continued exploration in 2015."

A summary of all of Alexco's Keno Hill silver district mineral resources incorporating the updated mineral resource estimates for Flame and Moth and Bermingham are appended to this release, and are available for review on the company's website.

Flame and Moth

Highlights of the Flame and Moth 2014 exploration program came from the Christal zone, which returned a best composite silver assay of 1,483 grams per tonne silver (47.7 ounces per ton) over 6.2 metres true width and separately, a maximum true width intercept of 13.3 metres at 207 grams per tonne silver (6.7 ounces per ton) of mineralization (see news release dated Jan. 20, 2015). The mineralization comprises multiphase quartz and siderite veining developed within a broad host fault structure and locally contains massive galena, sphalerite, pyrite and pyrrhotite, with associated silver sulphosalts, arsenopyrite and chalcopyrite. Gold is locally present at grades up to 6.85 grams per tonne. The total drilled strike length of the Flame and Moth vein system in the area around the existing resource now measures approximately 1,150 metres.

The Flame and Moth resource model comprises a north-northeast-striking, moderately southeast-dipping Flame vein that is divided into two segments by the northwest striking Mill fault. The Flame vein outlined in the hangingwall of the Mill fault has been designated the Lightning zone, and the footwall portion termed the Christal zone. A small splay vein exists in the hangingwall of the Lightning zone. Alexco conducted surface diamond drilling programs at Flame and Moth in 2010 through 2014, initiating 138 core holes, of which 115 core holes totalling approximately 31,382 metres were completed to target. Of these, 112 holes were used in the modelling and resource estimate.

The Flame and Moth resource was estimated using 3-D Gemcom block modelling software in multiple passes in three-by-five-by-five-metre blocks utilizing kriging for silver, lead and zinc, and inverse distance squared for gold. Grade estimates were based on one-metre composited assay data. A small number of extremely high-grade samples were capped at 7,500 grams per tonne for silver and 30 per cent for zinc in the Lightning portion of the Flame vein. The influence of high-grade intersections were limited during estimation by selecting high-grade thresholds for silver, gold, lead and zinc for each vein portion. Blocks were classified as indicated mineral resources if at least two drill holes and six composites were found within a 40-by-40-metre search ellipse. All other interpolated blocks were classified as inferred mineral resources.

Bermingham

As previously reported, results from 2014 work at the Bermingham deposit included the best hole ever drilled by Alexco at Keno Hill. This drill hole intercepted 6.39 metres true width with a composite silver grade of 5,667 grams per tonne silver (165.3 ounces per ton), which included 1.81 metres true width assaying 18,270 grams per tonne (532.9 ounces per ton) silver (see news release dated Nov. 5, 2014).

Mr. Nauman said: "Again, the favourable tenor and thickness of newly discovered mineralization at Bermingham, as noted above, is very encouraging. Bermingham is along strike and within about a kilometre of the historic Hector-Calumet mine, which produced about 90 million ounces of silver. Clearly, the area between this new discovery and the historic Hector-Calumet mine will be prime real estate for exploration in 2015. The potential for another significant silver discovery of the Flame and Moth type is evident from our 2014 success."

Alexco conducted surface diamond drilling programs at Bermingham in 2009 to 2012 and 2014, with 60 holes drilled for 13,244 metres, of which 38 holes totalling 10,412 metres were used in the modelling and resource estimation. The drilling outlined the Bermingham vein with a north-northeast strike and moderate southeast dip, converging to the northeast with the Bermingham footwall vein which has a northeast strike and dips moderately to steeply to the southeast. The veins typically occur within a five- to 10-metre-wide structurally damaged and complex zone containing discrete veins 0.5 to 2.5 metres wide that consist predominantly of carbonate (dolomite, ankerite and siderite), quartz and calcite gangue with sphalerite, galena, pyrite and arsenopyrite, and accessory chalcopyrite, argentian tetrahedrite, jamesonite, pyrargyrite and native silver.

The Bermingham resource model estimates the Bermingham vein and the merging Bermingham footwall vein within the Etta zone and the Artic zone, which lie on either side of the postmineral Mastiff fault. Importantly, the exceptionally high-grade mineralization intersected in 2014 is not included in the current resource estimate due to lack of confirmatory drilling in the down-plunge areas of the Bermingham resource.

The Bermingham mineral resource was estimated using 3-D Gemcom block modelling software in multiple passes in five-by-five-by-three-metre blocks by inverse distance squared. Grade estimates were based on capped one-metre composited assay data. Capping levels were set to 1,500 grams per tonne for silver for the Bermingham vein and the Bermingham footwall vein, and one gram per tonne gold for both veins; and lead was capped at 9 per cent for both veins. Blocks were classified as indicated mineral resources if at least two drill holes and four composites were found within a 40-by-40-metre search ellipse. All other interpolated blocks were classified as inferred mineral resources.

2015 exploration plans

Alexco is currently planning a 2015 exploration program of approximately 5,000 metres of surface diamond drilling primarily to follow up on the successful results at Bermingham, and also possibly test other Tier 1 targets as time, financing and budget allow.

Qualified persons

SRK prepared the updated mineral resource estimates for both the Flame and Moth and Bermingham deposits, and is independent of Alexco for purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. The Flame and Moth mineral resource estimate was completed by Marek Nowak, PEng, principal consultant with SRK, and the Bermingham mineral resource estimate was completed by Dr. Gilles Arseneau, PGeo, associate consultant (resource geology) with SRK, both of whom are qualified persons as defined by National Instrument 43-101. Dr. Arseneau and Mr. Nowak have reviewed, verified and approved the contents of this news release relating to the mineral resource estimates for the Flame and Moth and Bermingham deposits. All mineral resources are classified following the CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014), in accordance with the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and with National Instrument 43-101 guidelines.

The disclosure of all other scientific and technical information in this news release regarding projects on Alexco's mineral properties has been reviewed and approved by Alan McOnie, FAusIMM, Alexco's vice-president, exploration, and a qualified person as defined by National Instrument 43-101.

The 2014 exploration drill program and sampling protocol have been reviewed, verified and compiled by Alexco's geologic staff under the supervision of Mr. McOnie. A rigorous quality control and quality assurance protocol is used on the project, including blank, duplicate and standard reference samples in each batch of 20 samples delivered to the assay lab. Drill core samples were shipped to ALS Minerals Labs at Whitehorse for preparation, with fire assay, multielement ICP analyses and ore grade overlimits completed at the ALS Minerals facility in North Vancouver, B.C.

 ESTIMATED RESOURCES FOR ALEXCO'S MINERAL PROPERTIES WITHIN THE KENO HILL DISTRICT

                                                  Ag    Au     Pb    Zn  Contained
Category and property(1, 2, 11)         Tonnes  (g/t) (g/t)    (%)   (%)    Ag (oz)

Indicated
Bellekeno deposit(3, 4)                262,000   585   n/a   3.5%  5.3%  4,927,000
Lucky Queen deposit(3, 5)              124,000 1,227   0.2   2.6%  1.7%  4,892,000
Flame and Moth deposit(3, 6)         1,638,000   506   0.4   1.9%  5.4% 26,650,000
Onek(3, 7)                             654,000   200   0.6   1.3% 12.3%  4,205,000
Bermingham(3, 8)                       377,000   430   0.1   1.6%  1.7%  5,212,000
                                     --------- -----   ---   ---- ----- ----------
Total indicated subsurface           3,055,000   467   n/a   1.9%  6.3% 45,886,000
Elsa tailings(9)                     2,490,000   119   0.1   1.0%  0.7%  9,527,000
                                     --------- -----   ---   ---- ----- ----------
Total indicated all deposits         5,545,000   311   n/a   1.5%  3.8% 55,413,000
Inferred           
Bellekeno deposit(3, 4)                243,000   428   n/a   4.1%  5.1%  3,344,000
Lucky Queen deposit(3, 5)              150,000   571   0.2   1.4%  0.9%  2,754,000
Flame and Moth deposit(3, 6)           348,000   366   0.3   0.5%  4.4%  4,095,000
Onek(3, 7)                             234,000   134   0.4   1.2%  8.9%  1,008,000
Bermingham(3, 8)                        52,000   477   0.1   1.2%  1.9%    797,000
                                     --------- -----   ---   ---- ----- ----------
Total inferred                       1,027,000   363   n/a   1.7%  4.9% 11,998,000
Historical resources           
Silver King(10)
Proven, probable and indicated          98,998 1,354   n/a   1.6%  0.1%  4,310,000
Inferred                                22,581 1,456   n/a   0.1%   n/a  1,057,000

Notes:
1. All mineral resources are classified following the CIM Definition Standards for 
Mineral Resources and Mineral Reserves (May, 2014), in accordance with the CIM 
Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and 
the guidelines of National Instrument 43-101.
2. Mineral resources are not mineral reserves and do not have demonstrated economic 
viability. All numbers have been rounded to reflect the relative accuracy of the 
estimates.
3. The Keno Hill silver district comprises five deposits: Bellekeno, Lucky Queen, 
Flame and Moth, Onek, and Bermingham, of which Bellekeno, Lucky Queen, and Flame 
and Moth are incorporated into the current mine plan outlined in the technical 
report filed on SEDAR dated Dec. 10, 2014, entitled "Updated Preliminary Economic 
Assessment for the Keno Hill Silver District Project -- Phase 2, Yukon, Canada." 
The mineral resource estimates for the project are supported by (a) disclosure in 
the news release dated Dec. 23, 2014, entitled "Alexco Updates Positive Preliminary 
Economic Assessment for Expanded Silver Production from Keno Hill Silver District, 
Yukon," and (b) a technical report filed on SEDAR dated Dec. 10, 2014, entitled, 
"Updated Preliminary Economic Assessment for the Keno Hill Silver District Project 
-- Phase 2, Yukon, Canada." The mineral resource estimates for the Flame and Moth 
and Bermingham deposits are further supported by disclosure in the news release 
dated April 30, 2015.
4. The resource estimates for the Bellekeno deposit are based on a geologic 
resource estimate having an effective date of Sept. 30, 2012. The Bellekeno 
indicated resources are as at Sept. 30, 2013, and reflect the geologic resource 
less estimated subsequent depletion from mine production.
5. The mineral resource estimates for the Lucky Queen deposit have an effective 
date of July 27, 2011.
6. The mineral resource estimates for the Flame and Moth deposit have an effective 
date of April 28, 2015.
7. The mineral resource estimates for Onek have an effective date of Oct. 15, 2014.
8. The mineral resource estimates for Bermingham have an effective date of April 
28, 2015.
9. The mineral resource estimate for the Elsa tailings has an effective date of 
April 22, 2010, and is supported by the technical report dated June 16, 2010, 
entitled, "Mineral Resource Estimation, Elsa Tailings Project, Yukon, Canada."
10. Historical mineral resources for Silver King are supported by disclosure in the 
news release dated Dec. 23, 2014.
11. The disclosure regarding the summary of estimated mineral resources for 
Alexco's mineral properties within the Keno Hill district has been reviewed and 
approved by Scott Smith, PEng, former Bellekeno mine manager and a qualified person 
as defined by National Instrument 43-101.

We seek Safe Harbor.