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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 Silver District:

Category1,2,11 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&8 858,000 628 0.1 2.4% 1.7% 17,318,000
  Total Indicated -- Sub-Surface 3,536,000 510 n/a 2.1% 5.6% 57,992,000
  Elsa Tailings9 2,490,000 119 0.1 1.0% 0.7% 9,527,000
  Total Indicated -- All Deposits 6,026,000 349 n/a 1.6% 3.6% 67,519,000
 
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&8 220,000 770 0.2 2.1% 2.2% 5,451,000
  Total Inferred 1,195,000 433 n/a 1.8% 4.6% 16,652,000
 
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 deposit is 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". The mineral resource estimate for the Bermingham deposit is further supported by disclosure in the news release dated January 3, 2017 entitled "Alexco Expands Bermingham Indicated Resource to 17 Million Ounces Silver, Remains Open".
  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 mineral resource estimates for the Lucky Queen deposit have an effective date of July 27, 2011.
  6. The mineral resource estimates for the Flame & Moth deposit have an effective date of April 28, 2015.
  7. The mineral resource estimates for Onek have an effective date of October 15, 2014.
  8. The mineral resource estimates for Bermingham have an effective date of January 3, 2017.
  9. The mineral 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 mineral 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 mineral 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.