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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:

Category 1,2,8
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&5 132,300 1,167 0.2 2.4% 1.6% 4,964,000
      Flame & Moth Deposit3&5 1,679,000   498   0.4   1.9%   5.3%   26,883,000
Onek3&5 700,200 191 0.6 1.2% 11.9% 4,300,000
Bermingham3&5 858,000 628 0.1 2.4% 1.7% 17,324,000
Total Indicated -- Sub-Surface 3,631,500 500 0.3 2.0% 5.6% 58,398,000
Elsa Tailings6 2,490,000 119 0.1 1.0% 0.7% 9,527,000
Total Indicated -- All Deposits 6,121,500 345 0.3 1.6% 3.6% 67,925,000
Inferred Bellekeno Deposit3&4 243,000 428 n/a 4.1% 5.1% 3,344,000
Lucky Queen Deposit3&5 257,900 473 0.1 1.0% 0.8% 3,922,000
      Flame & Moth Deposit3&5   365,200   356   0.3   0.5%   4.3%   4,180,000
Onek3&5 285,100 118 0.4 1.2% 8.3% 1,082,000
Bermingham3&5 220,000 770 0.2 2.1% 2.2% 5,446,000
Total Inferred 1,371,000 408 0.2 1.6% 4.3% 17,974,000
                                 
Historical Silver King7                          
  Resources - Proven, probable and indicated 99,000   1,354   n/a   1.6%   0.1%   4,310,000
    - Inferred 22,500   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, Flame & Moth and Bermingham are incorporated into the current mine plan outlined in the technical report filed on SEDAR dated March 29, 2017 entitled “Preliminary Economic Assessment of the Keno Hill Silver District Project, Yukon, Canada”. The mineral resource estimates for the project are supported by disclosure in the news release dated March 29, 2017 entitled “Alexco and Silver Wheaton Amend Silver Purchase Agreement and Alexco Announces Positive Preliminary Economic Assessment for Expanded Silver Production at Keno Hill”.
  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 mineral 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, Flame & Moth, Onek and Bermingham deposits have an effective date of January 3, 2017.
  6. 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”.
  7. Historical resources for Silver King are supported by disclosure in the news release dated March 29, 2017 entitled “Alexco and Silver Wheaton Amend Silver Purchase Agreement and Alexco Announces Positive Preliminary Economic Assessment for Expanded Silver Production at Keno Hill”.
  8. 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.