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Alexco Intersects Silver Mineralization to 26 Meters True Thickness at Bermingham Including Narrower Intervals to 47.6 Ounces Per Ton Over 1.88 Meters

Wednesday, February 22nd

Included in this release are intercepts, such as 10.36 meters (true width) of 363 grams per tonne (g/t) silver (10.6 oz/ton) that includes 1.88 meter (true width) at 1,634 g/t silver (47.65 oz/ton), which generally occur within much broader zones of anomalous geochemistry. Based on current experience in the Keno Hill area, this style of mineralization may represent a high level expression of deeper mineralization. Importantly, the currently defined mineralization at Bermingham occurs at a higher elevation in the mine stratigraphic sequence than the adjacent Hector-Calumet mine, where more than 90 million ounces of silver were historically extracted. In total, it is interpreted that the currently defined Bermingham mineralization is not only important from the perspective of near term potential resource development, but may also represent the upper part of a larger mineralized system not yet defined at depth.

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