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Alexco Obtains Final Order for Plan of Arrangement from the Supreme Court of British Columbia and Provides Transaction Update

Press Release

September 1, 2022  Alexco Resource Corp. (NYSE American/TSX: AXU) (“Alexco” or the “Company”) announced today that the Company has obtained a final order from the Supreme Court of British Columbia approving the previously announced acquisition of Alexco by 1080980 B.C. Ltd. (“108”), a subsidiary of Hecla Mining Company (NYSE: HL) (“Hecla”) by way of a plan of arrangement (the “Arrangement”). Under the terms of the Arrangement, Alexco’s shareholders (the “Shareholders”) will receive 0.116 common shares in the capital of Hecla for each Alexco share held (the “Consideration”).

The Arrangement remains subject to the satisfaction or waiver of customary closing conditions and is expected to close on September 7, 2022. Following completion of the Arrangement, the common shares of Alexco are expected to be delisted from the Toronto Stock Exchange and the NYSE American. An application is also expected to be made for the Company to cease to be a reporting issuer in the applicable jurisdictions upon closing of the Arrangement.

Information regarding the procedure for exchange of shares for Consideration is provided in the Company’s management information circular dated July 28, 2022 (the “Circular”). The Circular is available on SEDAR under the Company’s profile at www.sedar.com and on the Company’s website at https://alexcoresource.com/investors/special-meeting-of-shareholders/.

About Alexco

Alexco is a Canadian primary silver company that owns and operates the majority of the historic Keno Hill Silver District in Canada’s Yukon Territory, one of the highest-grade silver mines in the world.

Contact

Clynton R. Nauman, Chairman and Chief Executive Officer
Rajni Bala, Investor Relations and Communications Lead
Phone: (778) 945-6577
Email: info@alexcoresource.com
Website: www.alexcoresource.com

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