Alexco Resource Corp (AXU)

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2020 Surface Exploration Update

Alexco's surface exploration drilling program at the Bermingham "deep" target is progressing well with approximately 3,500 m completed in six holes. A second drill has been added and the program extended, anticipating a total of 7,500 m to 8,000 m of drilling to be completed in at least 12 holes by mid-November.

The primary target is approximately 200 m vertically below the NE Zone of the Bermingham deposit, that contains a total Indicated Mineral Resource of 32.9 million ounces of silver at an average grade of 930 grams per tonne silver.

The target zone for the remainder of the 2020 drilling is a structural panel that extends 600 m to 700 m along (strike) where the geologic framework appears to be similar to that identified in the shallower existing resource.

Initial results are anticipated to be available by the end of Q4.