May 14, 2009 Vancouver, British Columbia -- Alexco Resource Corp. (TSX:AXR,

The 750#1 crosscut is centrally located in the Southwest Zone and exposes the 48 vein which is

locally observed to be a steeply dipping massive and disseminated, locally brecciated silver-leadzinc

zone of mineralization. Chip-channel sampling of the right and left ribs of the cross cut

returned results as follows:

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The 2009 Keno Hill surface exploration program will test a variety of priority targets including

targets located east-northeast of the Bellekeno “48” vein in an area known to contain several

hangingwall veins, some with historical development. Exploration drilling in 2007 tested one of

these structures, the Eureka vein, and intersected 3.57 meters averaging 1,050 grams per tonne

silver (hole K-07-0109, see news release dated January 30, 2008 entitled “Alexco Outlines New

Zinc-Silver Zone at Bellekeno and Updates Resource Estimate”). Continued follow-up drilling

is planned at Lucky Queen, where previous drilling identified high grade native silver

mineralization occurring over a strike length of approximately 200 meters with grades up to

35,618 grams per tonne silver over 0.52 meters (see news release dated October 23, 2007 entitled

“Alexco Announces High Grade Native Silver Intercept from Lucky Queen at Keno Hill”).

Follow-up drilling is also planned for the historical Keno 700 silver-gold mine area, located

approximately 2 kilometers east of Lucky Queen. Holes drilled during the 2008 program in this

area, which historically produced 12.6 million ounces of silver, intersected gold mineralization

grading up to 57.50 grams per tonne gold over 1.10 meters (see news release dated January 21,

2009 entitled “Alexco Announces Final 2008 Drill Results from Keno Hill Silver District: Goldrich

Intercepts Encountered at Historical Keno 700 Mine Area”). The Company also plans to

test the historical Coral-Wigwam mine area, which is located along the projection of the Hector-

Calumet mineralized structure. The historical Hector-Calumet mine, the largest mine in the

district, produced more than 96 million ounces of silver at an average production grade of

35 ounces per ton silver. And as indicated above, the 2009 program will also focus on defining

“blind” targets based on recently completed computer modeling of district-wide historical data as

well as ongoing structural studies.

From June 2006 through 2008, Alexco has drilled 181 holes or approximately 45,000 meters on

the Keno Hill Project (including 46 holes and 14,730 meters at the Bellekeno mine area) and

flown 2,016 line kilometers of airborne geophysics, and has also compiled approximately 35,000

historical documents into a 300 gigabyte digital library/database. To date, 14 of approximately

35 known historical mine areas in the district have been drill tested, with approximately 40% of

those recommended for follow-up drilling. In addition to the numerous lode silver and base

metal targets located throughout its 23,350 hectare property position, the Company is also

evaluating select historical mine dumps and tailings deposits for mineral potential.

The technical information in this news release has been reviewed and approved by Stan Dodd,

Vice President, Exploration for Alexco and a Qualified Person as defined by National Instrument

43-101.

Between 1921 and 1988, the Keno Hill Silver District produced more than 217 million ounces of

silver with average grades of 40.5 ounces per ton silver, 5.6% lead and 3.1% zinc (Yukon

Government's Minfile database). The historical production grades would rank Keno Hill in the

top 3% by grade of today's global silver producers. The Keno Hill district is the second-largest

historical silver producer in Canada.

Alexco's business is to unlock value and manage risk at mature, closed or abandoned mine sites

through integration and implementation of the Company's core competencies which include

management of environmental services, execution of mine reclamation and closure operations

and if appropriate, rejuvenation of exploration and development activity.

For more information contact Clynton R. Nauman, President and Chief Executive Officer of

Alexco, by telephone at 604-633-4888 or by email to info@alexcoresource.com or visit the

Company's website at www.alexcoresource.com.