Mr. Clynton Nauman reports

ALEXCO ANNOUNCES C$2 MILLION FLOW-THROUGH EQUITY FINANCING AND CONCURRENT UP TO C$960,000 NON-BROKERED EQUITY FINANCING

Alexco Resource Corp. has entered into an agreement with Canaccord Genuity Corp., pursuant to which the underwriter has agreed to purchase, on a bought-deal basis, 3,775,000 flow-through common shares at a price of 53 cents per flow-through share for total gross proceeds of $2,000,750. In addition, the company will grant the underwriter an overallotment option, exercisable prior to the closing of the underwritten offering, to purchase from the company flow-through shares to raise additional proceeds of up to $1,000,375.

The underwriter will receive a cash commission on the sale of the securities, representing 6.5 per cent of the total gross proceeds raised, including that number of broker warrants as is equal to 6.5 per cent of the number flow-through shares sold under the offering. Each broker warrant shall be exercisable for one common share of the company at a price of 53 cents at any time up to 24 months after closing.

The net proceeds from the sale of the flow-through shares will be used for expenditures on the company's Keno Hill district exploration properties, which qualify as Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)). The company will incur such Canadian exploration expenses no later than Dec. 31, 2016, and renounce such Canadian exploration expenses with an effective date of no later than Dec. 31, 2015. With completion of this offering, the company is fully financed for all planned 2016 expenditures.

Concurrent with the underwritten offering, the company is pleased to announce a non-brokered private placement of up to two million common shares at a price of 48 cents per share for gross proceeds of up to $960,000. The net proceeds from the non-brokered private placement are expected to be used by the company for its projects and for general working capital purposes. The company may pay a finder's fee in relation to the non-brokered private placement.

Closing of the underwritten offering and non-brokered private placement is anticipated to occur concurrently on or around Dec. 8, 2015, and is subject to certain conditions including, but not limited to, the receipt of all applicable regulatory approvals, including approval of the Toronto Stock Exchange and the New York Stock Exchange.

We seek Safe Harbor.