VANCOUVER, British Columbia, June 04, 2018 (GLOBE NEWSWIRE) -- Alexco Resource Corp. (NYSE
AMERICAN:AXU), (TSX:AXR) (“Alexco” or the “Company”) is pleased to announce that in connection with its previously
announced bought deal financing, the Company and a syndicate of underwriters (the “Underwriters”) have agreed to increase the size
of the previously announced financing. The Company will now issue 4,703,000 flow-through common shares (“Flow-Through Shares”) at a
blended price of approximately C$1.92 per Flow-Through Share for aggregate gross proceeds of C$9,041,150 (the “Offering”).
The issued securities are comprised of: (i) 966,500 flow-through shares with respect to “Canadian exploration
expenses” priced at $2.05 per Flow-Through Share; (ii) 1,736,500 flow-through shares with respect to “Canadian exploration
expenses” that also qualify as “flow-through mining expenditures” priced at $2.05 per Flow-Through Share; and (iii) 2,000,000
flow-through shares with respect to “Canadian development expenses” priced at $1.75 per Flow-Through Share.
Gross proceeds from the sale of the Flow-Through Shares will be used to fund a surface exploration program,
continue the underground drilling program at the Bermingham deposit, and also continue development of the Flame & Moth decline at
the Company's Keno Hill Silver project by incurring qualified expenditures.
The Flow-Through Shares to be issued under the Offering will be offered in accordance with the terms of a
prospectus supplement to be filed in British Columbia, Alberta, Ontario, Saskatchewan and Manitoba.
Closing is expected on or about June 13, 2018 and is subject to regulatory approval including that of the
Toronto Stock Exchange and NYSE American LLC.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there
be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including in
the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any securities laws of any state of the United States and may not be offered or sold within
the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act)
unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such
registration requirements.
About Alexco
Alexco Resource Corp. holds the historical high grade Keno Hill Silver District located in Canada’s Yukon
Territory. Employing a unique business model, Alexco also provides mine-related environmental services, remediation
technologies and reclamation and mine closure services to both government and industry clients through the Alexco Environmental
Group, its wholly-owned environmental services division.
Contact
Clynton R. Nauman, Executive Chairman and Chief Executive Officer
Lisa May, Director of Investor Relations
Phone: (778) 945-6577
Email: lmay@alexcoresource.com
Some statements (“forward-looking statements”) in this news release contain forward-looking information
concerning the Offering and the use of proceeds thereof, Alexco’s anticipated results and developments in Alexco’s operations in
future periods, planned exploration and development of its properties, plans related to its business and other matters that may
occur in the future, made as of the date of this news release. Forward-looking statements may include, but are not limited to,
statements with respect to the proposed Offering, anticipated closing of the Offering, potential exercise by the Underwriters of
the over-allotment option, anticipated use of proceeds, future remediation and reclamation activities, future mineral exploration,
the estimation of mineral reserves and mineral resources, the realization of mineral reserve and mineral resource estimates, future
mine construction and development activities, future mine operation and production, the timing of activities and reports, the
amount of estimated revenues and expenses, the success of exploration activities, permitting time lines, requirements for
additional capital and sources and uses of funds. Forward-looking statements are subject to a variety of known and unknown risks,
uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the
forward-looking statements. Such factors include, among others, risks related to regulatory approval of the Offering; actual
results and timing of exploration and development activities; actual results and timing of mining activities; actual results and
timing of environmental services activities; actual results and timing of remediation and reclamation activities; conclusions of
economic evaluations; changes in project parameters as plans continue to be refined; future prices of silver, gold, lead, zinc and
other commodities; possible variations in mineable resources, grade or recovery rates; failure of plant, equipment or processes to
operate as anticipated; accidents, labour disputes and other risks of the mining industry; First Nation rights and title; continued
capitalization and commercial viability; global economic conditions; competition; and delays in obtaining governmental approvals or
financing or in the completion of development activities. Forward-looking statements are based on certain assumptions that
management believes are reasonable at the time they are made. In making the forward-looking statements included in this news
release, Alexco has applied several material assumptions, including, but not limited to, the assumption that regulatory approval of
the Offering will be obtained in a timely manner; all conditions precedent to completion of the Offering will be fulfilled in a
timely manner; Alexco will be able to raise additional capital as necessary, that the proposed exploration and development will
proceed as planned, and that market fundamentals will result in sustained silver, gold, lead and zinc demand and prices. There can
be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Alexco expressly disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by
applicable securities legislation.
