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Independent Proxy Advisory Firm ISS Recommends Alexco Shareholders Vote For The Proposed Transaction With Hecla

Press Release

August 15, 2022

  • The deadline to vote is at 10:00 am (Pacific Time) on Friday, August 26, 2022.
  • For any questions, please contact Alexco’s proxy solicitation agent and communications advisor, Laurel Hill Advisory Group, toll free at 1-877-452-7184 (+1-416-304-0211 outside North America) or email [email protected].

August 15, 2022 – Alexco Resource Corp. (NYSE American/TSX: AXU) (“Alexco” or the “Company”) is pleased to announce that a leading independent proxy advisory firm, Institutional Shareholder Services Inc. (“ISS”) has recommended Alexco shareholders (“Alexco Shareholders”) vote “FOR” the proposed acquisition of Alexco by 1080980 B.C. Ltd. (“108”), a subsidiary of Hecla Mining Company (“Hecla”) at the upcoming special meeting of securityholders to be held on Tuesday, August 30, 2022, at 10:00 a.m. (Pacific Time) (the “Meeting”).

At the Meeting, securityholders will be asked to consider and, if deemed advisable, pass a special  resolution (the “Arrangement Resolution”) to approve an arrangement (the “Arrangement”), in  accordance with the terms of an arrangement agreement entered into by the Company and Hecla on July  4, 2022, as assigned and amended (the “Arrangement Agreement”) pursuant to which 108 will acquire all of the issued and outstanding common shares of Alexco (the “Alexco Share”) that it does not already own by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia). Under the terms of the Arrangement, shareholders will receive 0.116 common shares in the capital of Hecla for each Alexco Share held.

ISS is a leading independent, third-party proxy advisory firm who, among other services, provides proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.

In their report ISS stated: “The transaction makes strategic sense as shareholders will benefit from jurisdictional and project risk diversification, enhanced financing capacity and access to capital, and the benefits conferred by a consolidation of assets with Hecla.”

Alexco’s Meeting will be conducted at:

Location: Blake, Cassels & Graydon LLP
Suite 2600, 595 Burrard Street
Vancouver, British Columbia, V7X 1L3
Date: Tuesday, August 30, 2022
Time: 10:00 am (Pacific Time)

Alexco’s board of directors UNANIMOUSLY recommends that Securityholders
VOTE FOR the Arrangement Resolution

The meeting materials have been filed by the Company on SEDAR and EDGAR and are available under the Company’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. The meeting materials are also available on the Company’s website at Alexco – Investors – Special Meeting of Shareholders (https://alexcoresource.com/investors/special-meeting-of-shareholders/).

How to Vote

Due to the essence of time, Alexco securityholders are encouraged to vote online or by telephone.

THE VOTING DEADLINE IS 10:00 a.m. (Vancouver Time) ON FRIDAY AUGUST 26, 2022

Beneficial Shareholder
Shares held with a broker,
bank or other intermediary

Registered Shareholders
Shares held in own name and
represented by a physical certificate

Option holders, DSU holders
and RSU holders

www.proxyvote.com

www.investorvote.com

www.investorvote.com

Call or fax to the number(s) listed on your voting instruction form

Phone: 1-866-732-8683
Fax: 1-866-249-7775

Phone: 1-866-732-8683
Fax: 1-866-249-7775

Return the voting instruction
form in the enclosed envelope

Return the YELLOW form of
proxy in the enclosed postage
paid envelope

Return the GREEN form of
proxy in the enclosed postage
paid envelope

Shareholder Questions and Voting Assistance

For any questions or assistance with voting, Alexco securityholders can contact the Company’s proxy solicitation agent, Laurel Hill Advisory Group:

Laurel Hill Advisory Group

North America Toll Free: 1-877-452-7184
Outside North America: 1-416-304-0211
Email: [email protected]

About Hecla

Founded in 1891, Hecla Mining Company (NYSE: HL) is the largest silver producer in the United States. In addition to operating mines in Alaska, Idaho and Quebec, Canada, the Company owns a number of exploration properties and pre-development projects in world-class silver and gold mining districts throughout North America.

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: [email protected]

Website: www.alexcoresource.com

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