Alexco Closes $8.6 Million Common Share Public Offering

March 27, 2020 – Alexco Resource Corp. (NYSE AMERICAN: AXU; TSX: AXU) (“Alexco” or the “Company”) announces that it has closed the previously announced over-night marketed public offering (the “Offering”) of common shares of the Company (the “Common Shares”), with a syndicate of underwriters co-led by Cormark Securities Inc. and Cantor Fitzgerald Canada Corporation as joint bookrunners, and including Canaccord Genuity Corp. (collectively the “Underwriters”). With full subscription of the over-allotment option, the Company has issued 4,662,675 Common Shares at a price of $1.85 per share (the “Offering Price”) for gross proceeds of $8,625,948.75.

In connection with the Offering, the Company has paid the Underwriters a cash commission equal to 6.0% of the gross proceeds of the Offering.

The Company intends to use the net proceeds of the Offering for preservation and measured advancement of mine development activity at Keno Hill, exploration and for general working capital purposes.

The Offering was made by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s existing Canadian base shelf prospectus (the “Base Shelf Prospectus”) and related U.S. registration statement on Form F-10 (SEC File No. 333-227024) (the “Registration Statement”) filed under the Canada/U.S. multijurisdictional disclosure system.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The securities have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon by the accuracy or adequacy of the Prospectus Supplement, the Base Shelf Prospectus or the Registration Statement.

About Alexco

Alexco is a Canadian primary silver company that owns the majority of the historic high-grade Keno Hill Silver District (the “District”) in Canada’s Yukon Territory. Alexco has a long history of expanding Keno Hill’s mineral resources through successful exploration and is currently advancing a development plan for the District. Alexco is in the final phase of the permitting process and is currently advancing key surface infrastructure while it awaits the final permit to make a positive construction decision.

Contact

Clynton R. Nauman, Executive Chairman and Chief Executive Officer
Kettina Cordero, Director of Investor Relations
Phone: (778) 945-6577
Email: info@alexcoresource.com

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