Mr. Clynt Nauman reports

ALEXCO EXTENDS DRAW DOWN AVAILABILITY PERIOD ON US$15 MILLION CREDIT FACILITY

Alexco Resource Corp. has extended the drawdown availability period on its previously established definitive credit agreement with Sprott Private Resource Lending (Collector) LP to provide a $15-million (U.S.) credit facility to be used for the development of the Keno Hill silver projects, located in Yukon, Canada (see press news release dated Feb. 26, 2018, entitled "Alexco Establishes US$15 Million Credit Facility"). Pursuant to the terms of the agreement, Alexco has issued 171,480 common shares of the company to extend the drawdown availability period by six months.

Clynt Nauman, Alexco chief executive officer and chairman, commented: "With the extension of the drawdown availability period of the credit facility, we are simply maintaining this backstop and financing alternative while waiting for final permitting for the Bermingham deposit to be completed -- currently anticipated at the end of Q2 2019. We remain on target to announce the results of our prefeasibility study before the end of Q1 and continue to target a production decision in the first half of 2019, subject to market conditions. The credit facility carries a total interest charge of approximately 9.75 per cent on funds drawn down, has no minimum drawdown requirement and does not carry a standby charge. Retaining the facility as a backstop allows the company to easily move to a production decision while managing project risk and minimizing shareholder dilution."

Key terms of the credit facility:

• Term of three years, with a maturity date: Feb. 23, 2021;
• $15-million (U.S.);
• Interest rate on funds drawn down of 7 per cent plus U.S.-dollar three-month LIBOR (London interbank offered rate), payable monthly;
• Repayable in quarterly instalments from Oct. 31, 2019, through to the maturity date;
• Upon drawdown of funds, a 3-per-cent charge of the drawdown is charged;
• Repayable in whole or in part, without penalty, provided not fewer than 12 months of interest has been paid on any outstanding amount/

About Alexco Resource Corp.

Alexco owns the majority of the historical high-grade Keno Hill silver district in Canada's Yukon territory as detailed in its preliminary economic assessment (the PEA) entitled "Preliminary Economic Assessment of the Keno Hill Silver District Project, Yukon, Canada," which is dated March 29, 2017, with an effective date of Jan. 3, 2017, and anticipates the sequential development of four high-grade silver deposits over an eight-year mine life, producing more than one million tonnes with an average grade of 843 grams per tonne silver, 3.3 per cent lead and 4.6 per cent zinc. Silver production is anticipated to be approximately 3.5 million ounces per year. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.

Alexco also operates a wholly owned subsidiary business, Alexco Environmental Group, that provides mine-related environmental services, remediation technologies, and reclamation and mine closure services to both government and industry clients in North America and elsewhere.

We seek Safe Harbor.