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Mineral Resources

Summary of Resources
The following table sets forth the estimated resources for Alexco's mineral properties within the Keno Hill District:

Category
1,2,11
Property Tonnes Ag
(g/t)
Au
(g/t)
Pb
(%)
Zn
(%)
Contained
Ag (oz)
Indicated Bellekeno
Deposit3&4
262,000 585 n/a 3.5% 5.3% 4,927,000
Lucky Queen
Deposit3&5
124,000 1,227 0.2 2.6% 1.7% 4,892,000
Flame & Moth
Deposit3&6
1,638,000 506 0.4 1.9% 5.4% 26,650,000
Onek3&7 654,000 200 0.6 1.3% 12.3% 4,205,000
Bermingham3&8 377,000 430 0.1 1.6% 1.7% 5,212,000
Total Indicated --
Sub-Surface
3,055,000 467 n/a 1.9% 6.3% 45,886,000
Elsa Tailings9 2,490,000 119 0.1 1.0% 0.7% 9,527,000
Total Indicated --
All Deposits
5,545,000 311 n/a 1.5% 3.8% 55,413,000
Inferred Bellekeno
Deposit3&4
243,000 428 n/a 4.1% 5.1% 3,344,000
Lucky Queen
Deposit3&5
150,000 571 0.2 1.4% 0.9% 2,754,000
Flame & Moth
Deposit3&6
348,000 366 0.3 0.5% 4.4% 4,095,000
Onek3&7 234,000 134 0.4 1.2% 8.9% 1,008,000
Bermingham3&8 52,000 477 0.1 1.2% 1.9% 797,000
Total Inferred 1,027,000 363 n/a 1.7% 4.9% 11,998,000
Historical Silver King10
Resources - Proven, probable
and indicated
98,998 1,354 n/a 1.6% 0.1% 4,310,000
- Inferred 22,581 1,456 n/a 0.1% n/a 1,057,000

Notes:
  1. All mineral resources are classified following the CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014), in accordance with the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and the guidelines of NI 43-101.
  2. Mineral resources are not mineral reserves and do not have demonstrated economic viability. All numbers have been rounded to reflect the relative accuracy of the estimates.
  3. The Keno Hill Silver District is comprised of five deposits: Bellekeno, Lucky Queen and Flame & Moth, Onek and Bermingham, of which Bellekeno, Lucky Queen and Flame & Moth are incorporated into the current mine plan outlined in the technical report filed on SEDAR dated December 10, 2014 entitled "Updated Preliminary Economic Assessment for the Keno Hill Silver District Project -- Phase 2, Yukon, Canada". The mineral resource estimates for the project are supported by (a) disclosure in the news release dated December 23, 2014 entitled "Alexco Updates Positive Preliminary Economic Assessment for Expanded Silver Production from Keno Hill Silver District, Yukon"; and (b) a technical report filed on SEDAR dated December 10, 2014 entitled "Updated Preliminary Economic Assessment for the Keno Hill Silver District Project -- Phase 2, Yukon, Canada". The mineral resource estimates for the Flame & Moth and Bermingham deposits are further supported by disclosure in the news release dated April 30, 2015 entitled "Alexco Announces Indicated Silver Resource Estimate Increases of 17% at Flame & Moth and 26% at Bermingham, Resulting in a 10% Increase Overall for Keno Hill Silver District".
  4. The resource estimates for the Bellekeno deposit are based on a geologic resource estimate having an effective date of September 30, 2012. The Bellekeno indicated resources are as at September 30, 2013, and reflect the geologic resource less estimated subsequent depletion from mine production.
  5. The resource estimates for the Lucky Queen deposit have an effective date of July 27, 2011.
  6. The resource estimates for the Flame & Moth deposit have an effective date of April 28, 2015.
  7. The resource estimates for Onek have an effective date of October 15, 2014.
  8. The resource estimates for Bermingham have an effective date of April 28, 2015.
  9. The resource estimate for the Elsa Tailings has an effective date of April 22, 2010, and is supported by the technical report dated June 16, 2010 entitled "Mineral Resource Estimation, Elsa Tailings Project, Yukon, Canada".
  10. Historical resources for Silver King are supported by disclosure in the news release dated December 23, 2014 entitled "Alexco Updates Positive Preliminary Economic Assessment for Expanded Silver Production from Keno Hill Silver District, Yukon"
  11. The disclosure regarding the summary of estimated resources for Alexco's mineral properties within the Keno Hill District has been reviewed and approved by Scott Smith, P.Eng., former Bellekeno Mine Manager and a Qualified Person as defined by NI 43-101.