Alexco Resource Corp. reported initial results from its ongoing Bermingham Northeast Deep zone infill and extension drilling program in the Keno Hill Silver District, Yukon Territory. The current 19,000 meter ("m") drill program targets over 50 resource intercepts along a zone that was discovered in 2019 and extended over a 500 m strike length in 2020. 2021 Exploration Results Highlights: The 2021 exploration drilling program is currently approximately 80% complete with assays available from the first 24 holes reported here. The drilling program is focused at depth northeast of the Bermingham deposit that contains silver mineral resources of 32.96 million ounces ("Moz") Indicated (including 18.2 Moz Probable Reserve) and 11.74 Moz Inferred. Interim results confirm the presence of an approximate 500 m long sub horizontal mineralized zone with at least a 100 m vertical extent located approximately 150 m below the Bermingham Northeast mining reserve. To achieve an accurate intersection pattern at depth, directional core drilling (HQ and NQ) is being used to ensure a robust resource estimation can be completed as planned in the fourth quarter of 2021. In addition to the important intercepts previously reported from discovery and delineation drilling in 2019 and 2020, ten of the more significant holes from the 2021 program are highlighted below: K-21-0786 intersected mineralization in both the Bermingham Main and Footwall veins close to their intersection where a true width of 20.37 m assayed on average 1,681 grams per tonne ("g/t") (54.04 ounces per tonne ("oz/t")) silver ("Ag"), 0.36 g/t gold ("Au"), 6.20% lead ("Pb") and 0.46% zinc ("Zn") that included a 5.54 m interval at 5.5 g/t Ag. Within this: The Bermingham Main vein extends over a true width of 6.42 m from 511.26 m containing 2,010 g/t (64.64 oz/t) Ag, including 0.74 m true width from 511.91 m at 13,112 g/t (421.58 oz/t) Ag, and 0.66 m true width from 517.03 m at 2,780 g/t (89.38 oz/t) Ag; and The Bermingham Footwall vein extends over a true width of 8.74 m from 523.63 m containing 2,284 g/t (73.24 oz/t) Ag, including 1.93 m true width from 523.86 m at 4,269 g/t (137.25 oz/t) Ag and 2.90 m true width from 530.03 m at 3,934 g/t (126.50 oz/t) Ag. K-21-0785 intersected the Bermingham Footwall vein over a true width of 4.42 m from 468.3 m containing 2,901 g/t (93.27 oz/t) Ag, including 0.81 m true width from 469.39 m containing 14,578 g/t (468.70 oz/t) Ag. K-21-0785A intersected the Bermingham Footwall vein over a true width of 4.47 m from 180.42 m containing 1,384 g/t (44.51 oz/t) Ag, including 0.69 m true width from 181.03 m containing 8,561 g/t (275.24 oz/t) Ag. K-21-0790 intersected the Bermingham Footwall vein over a true width of 4.64 m from 461.93 m containing 1,212 g/t (38.96 oz/t) Ag, including 0.53 m true width from 466.21 m containing 7,506 g/t (241.33 oz/t) Ag. K-21-0790A intersected the Bermingham Main vein over a true width of 4.73 m from 126.23 m containing 2,567 g/t (82.54 oz/t) Ag, including 1.09 m true width from 126.90 m containing 10,982 g/t (353.07 oz/t) Ag, and the Bermingham Footwall vein over a true width of 3.77 m from 153.56 m containing 751 g/t (24.15 oz/t) Ag, including 0.12 m true width from 153.56 m containing 6,730 g/t (216.37 oz/t) Ag. K-21-0791 intersected the Bermingham Footwall vein over a true width of 3.91 m from 502.70 m containing 1,301 g/t (41.84 oz/t) Ag, including 1.10 m true width from 502.70 m containing 3,893 g/t (125.17 oz/t) Ag. K-21-0792B intersected the Bermingham Footwall vein over a true width of 7.35 m from 178.87 m containing 970 g/t (31.20 oz/t) Ag, including 5.60 m true width from 179.51 m containing 1,257 g/t (40.43 oz/t) Ag. K-21-0779B intersected the Bermingham Footwall vein over a true width of 4.31 m from 109.97 m containing 866 g/t (27.84 oz/t) Ag. K-21-0794 intersected the Bermingham Footwall vein over a true width of 9.02 m from 510.51 m containing 778 g/t (25.00 oz/t) Ag, including 0.39 m true width from 518.70 m at 11,942 g/t (383.94 oz/t) Ag. K-21-0789A intersected a splay below the Bermingham Footwall vein over a true width of 2.91 m from 148.00 m containing 986 g/t (31.71 oz/t) Ag that included 0.10 m true width from 151.00 m containing 25,670 g/t (825.31 oz/t) Ag. As in previous years, assay results are reported in Table 2 as +30 g/t Ag composite intervals (that may contain up to two meters of unmineralized material) as in essence this outlines the mineralized vein structures. 2021 Program Summary and Bermingham Geology: The 2021 exploration program is providing nominal drill intersection spacings of 35 m along strike by 25 m dip separation by using directional drilling technology along the mineralized zone that hosts the subparallel Bermingham Main vein and the Bermingham Footwall vein. The zone is structurally complex with a horizontal to gentle northeast plunge along an interpreted strike length of approximately 500 m and an apparent dip extent of up to 100 m. Characteristically, vein thicknesses are coincident with changes in strike and dip of the mineralized zone in response to variations in host rock competency and proximity to the intersection of the two veins that can now be traced throughout the length of the Bermingham deposit. The mineralization is primarily hosted within the thick bedded quartzites that host the nearby historical Hector-Calumet deposit, with base and precious metal mineralogy similar to that seen elsewhere in the Bermingham deposit. Operations Update: Underground development and production are proceeding as scheduled with mill throughput ramp up to demonstrate mill nameplate capacity of 18 tonnes per hour (400 tonnes per day) to occur in the fourth quarter 2021. In underground operations final long hole blasts are scheduled at the Bellekeno mine in September 2021. YTD through August 2021, the Bellekeno mine has produced 13,468 tonnes of 842 g/t Ag and 11.7% Pb. Bellekeno ore extraction will cease in the third quarter of 2021 and mill feed will transition to the newly developed Bermingham and Flame & Moth mines. At Bermingham, first production ore was delivered (from the 1150 level undercut) in the latter half of August. At Flame & Moth development of the primary ramp is now beyond the first production level access (835 level) and crosscutting to the ore is progressing with initial Flame & Moth ore production anticipated in the fourth quarter of 2021.