Mr. Clynt Nauman reports

ALEXCO ENVIRONMENTAL GROUP AND COLORADO LEGACY LAND LLC PARTNER TO CLEANUP LEGACY URANIUM MINING AND PROCESSING SITES IN CENTRAL COLORADO

On April 3, 2018, Alexco Resource Corp.'s wholly owned U.S. subsidiary, Alexco Water and Environment Inc. (AWE), entered into a master services agreement (MSA) with Colorado Legacy Land LLC (CLL) to become the operator of responsible charge for the Schwartzwalder mine and the former Canon City uranium mill reclamation and cleanup projects located approximately 45 miles northwest and 115 miles south of Denver, respectively. The two projects comprise a total of approximately 3,300 acres of freehold land which are subject to a mine reclamation permit and radiation materials licences.

As part of the MSA, AWE, on a fee-for-service basis, will be responsible for all work to complete the reclamation obligations assumed by CLL associated with the regulatory closure, environmental compliance, investigation and cleanup for the Schwartzwalder and Canon City properties. The scope of services to be performed by AWE will be jointly developed by CLL and AWE through annual work plans to meet regulatory and cleanup requirements under the Schwartzwalder mining reclamation permit and radiation materials licences, and the cleanup plan that is being developed under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) process for the former Canon City mill site. AWE will be responsible for the implementation and execution of all the components within those work plans.

Paul Newman, managing director of CLL, commented: "Alexco's experience in mine closure, water treatment, radiation management and cleanup services, and brownfields remediation provides CLL with a partner that can achieve the best remediation outcomes for these sites, and support the best possible reuses that will benefit our neighbouring communities. We are pleased to have this expertise to energize these cleanup and reuse projects."

Clynt Nauman, Alexco chief executive officer and chairman, commented: "We are very pleased to be working with CLL to actively clean up these long-standing and relatively high-profile contaminated areas. This long-term agreement is expected to take more than 10 years to complete and generate revenue in excess of $20-million (U.S.) for AWE while underpinning the ongoing growth of our U.S. environmental group. We remain committed to growing our environmental business by providing a range and quality of services to clients across North America, which is complementary to our mining business and cleanup of legacy environmental issues at our Keno Hill silver district in Yukon, Canada."

With continuing growth in both its environmental and mine-related business units, Alexco has strengthened its management structure through the appointment of James Harrington to the position of president of Alexco Environmental Group (AEG) where he will be responsible for executive, strategic and technical leadership of AEG and its various subsidiaries. In a related management change, Linda Broughton, currently vice-president, projects, for AEG, will be appointed vice-president, technical services, for Alexco in support of mining operations at the Keno Hill silver district. Ms. Broughton will also be appointed to the position of president of Alexco's subsidiary, Elsa Reclamation and Development Company, where she will lead the implementation of the reclamation and closure plan for the legacy environmental liabilities in the Keno Hill silver district.

About Alexco Resource Corp.

Alexco owns 100 per cent of the high-grade Keno Hill silver district (KHSD) in Canada's Yukon. Alexco published an updated preliminary economic assessment in March, 2017, which anticipates the sequential development of four high-grade silver deposits over an eight-year mine life to produce more than a million tonnes with an average grade of 843 grams per tonne, 3.3 per cent lead and 4.2 per cent zinc.

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