Alexco Reports Closing of $7 Million Flow-Through Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 23, 2013) - Alexco Resource Corp. (TSX:AXR)(NYSE MKT:AXU)(the "Company") today reports that it has closed the private placement announced in its news releases dated April 1, 2013 and April 15, 2013. The Company has issued 2,100,000 "flow-through" common shares (the "Flow-Through Shares") at a price of $3.35 per Flow-Through Share for gross proceeds of $7,035,000 (the "Offering").

The gross proceeds from the sale of the Flow-Through Shares will be used for expenditures on the Company's Keno Hill District exploration properties, which qualify as Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)), with the Company to ensure that such Canadian exploration expenses qualify as "flow-through mining expenditures" (which qualify for the 15% Federal investment tax credit) for purposes of the Income Tax Act (Canada).