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Alexco Reports Silver Production for Third Quarter 2013

September 23, 2013 ‑ Alexco Resource Corp. (NYSE‑MKT:AXU, TSX:AXR) today reports silver production of 452,392 ounces during the third quarter of 2013 from its Bellekeno mine, located in the Keno Hill Silver District in Canada’s Yukon Territory. Bellekeno mining and milling operations were completed in early September under the previously-announced winter suspension plan. Third quarter results accordingly reflect 64 operational days, and mill throughput over that period averaged 321 tonnes per day.

Alexco’s President and Chief Executive Officer Clynt Nauman said, “Despite an abbreviated quarter heading into an interim suspension of operations over the Yukon winter, the performance of our employees has been exemplary, resulting in increased throughput, increased grade and outstanding recoveries. This operations performance combined with our recent exploration success at Flame & Moth simply means we roll up our sleeves and focus even harder on generating the most efficient production plan in 2014, with market conditions and other circumstances also considered.”

Third Quarter 2013 Production Highlights

Three Months Ended September 30 Nine Months Ended September 30
20131 2012 20131 2012
Ore tonnes mined 19,551 24,237 65,206 64,905
Ore tonnes processed 20,520 24,573 66,297 68,033
Mill throughput (tonnes per day) 321 270 271 249
Grade of ore processed:
Silver (grams per tonne) 717 691 705 761
Lead 8.6% 8.9% 7.7% 9.6%
Zinc 4.1% 4.5% 3.8% 5.0%
Recoveries:
Silver 96% 94% 94% 93%
Lead in lead concentrate 95% 93% 92% 90%
Zinc in zinc concentrate 60% 51% 61% 54%
Concentrate production:
Lead concentrate:
Tonnes produced 2,674 3,152 7,796 9,482
Concentrate grade:
Silver (grams per tonne) 5,134 4,957 5,458 4,914
Lead 62% 64% 60% 63%
Zinc concentrate:
Tonnes produced 1,108 1,189 3,450 4,133
Concentrate grade:
Silver (grams per tonne) 308 326 360 429
Zinc 46% 47% 45% 45%
Production — contained metal:
Silver (ounces) 452,392 514,879 1,408,164 1,555,136
Lead in lead con (pounds) 3,665,305 4,471,580 10,324,978 13,063,304
Zinc in zinc con (pounds) 1,112,594 1,227,269 3,443,855 4,083,612

1 The three and nine months ended September 30, 2013 represent shortened operational periods encompassing 64 and 245 days respectively.

The disclosure in this news release of scientific and technical information regarding Alexco’s mineral properties has been reviewed and approved by Scott Smith, P.Eng., Bellekeno Mine Manager for Alexco, a Qualified Person as defined by National Instrument 43-101 ‑ Standards of Disclosure for Mineral Projects.

About Alexco

Alexco Resource Corp. owns the Bellekeno silver mine, one of several mineral properties held by Alexco which encompass substantially all of the historical Keno Hill Silver District located in Canada’s Yukon Territory. Bellekeno, which commenced commercial production at the beginning of calendar year 2011, was Canada’s only operating primary silver mine from 2011 to 2013. Alexco recently announced a suspension of operations at Bellekeno in order to decrease costs and reposition the District for long-term, sustainable operations. The Keno Hill Silver District lies within the traditional territory of the First Nation of Na-Cho Nyak Dun who have a fully settled land claim agreement with the Government of Canada and the Yukon, and Alexco operates within the District under a comprehensive cooperation and benefits agreement with the First Nation. Alexco’s primary near-term exploration objective is to unlock value in the silver-rich Keno Hill District, and is focused on growth by advancing its promising District properties to development decisions. Employing a unique business model, Alexco also provides mine-related environmental services, remediation technologies and reclamation and mine closure services to both government and industry clients through the Alexco Environmental Group, its wholly-owned environmental services division.

Keno Hill Silver District History

Between 1921 and 1988, the Keno Hill Silver District was a world-class silver producer, with more than 217 million ounces of silver produced at average grades of 40.5 ounces per ton silver, 5.6% lead and 3.1% zinc (Yukon Government’s Minfile database). These historical production grades would rank Keno Hill in the top 3% by grade of today’s global silver producers.

Contact

Clynton R. Nauman, President and Chief Executive Officer
Vicki Veltkamp, Vice President Investor Relations
Phone: (604) 633-4888
Email: [email protected]

Please visit the Alexco website at www.alexcoresource.com

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