Alexco Announces Additional 2009 Drill Results, Keno Hill District, Yukon:

Keno 700 Drilling Intersects 1.03 Meters of 18.48 g/t Gold

November 5, 2009 Vancouver, British Columbia -- Alexco Resource Corp. (TSX:AXR,

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possible transverse vein(s) in an area containing local silver anomalies from historical, shallow

overburden drilling. The holes were drilled in a fence from a single location and intersected a broad

structural zone up to 20 meters wide containing extensive quartz/carbonate veining with local galena,

sphalerite and arsenopyrite. DDH K09-201, the deepest of the three holes, contained the best intercept

where mineralization remains open at depth and along strike. These latest drill holes are located

approximately 450 meters southwest of the Keno 700 drilling from 2008 which intersected mineralization

grading up to 57.50 grams per tonne gold (1.68 ounces per ton) over 1.10 meters (see news release dated

January 21, 2009 entitled “Alexco Announces Final 2008 Drill Results from Keno Hill Silver District:

Gold-rich Intercepts Encountered at Historical Keno 700 Mine Area”). This earlier drilling targeted the

Keno 700 #6 vein near the projected intersection with the #9 vein in the area of the Keno 700 workings.

Exploration potential in the area of the historical Keno 700 mine continues to be evaluated, specifically

the relatively unexplored southwest extension of the #6 vein.

The 2008/2009 Keno 700 drilling intersected high-grade gold mineralization along strike of the historical

silver-rich Keno 700 mine where reported past production totaled 283,762 tons averaging 44.4 ounces per

ton silver, 10.7% lead and 3.7% zinc. A historical resource estimate, for the area encompassing the

underground workings in the Keno 700 area, was calculated by the previous property owner’s staff in the

1990’s. This historical resource estimate, including proven, probable and inferred mineralization, totaled

69,483 tons grading 31.64 ounces per ton silver, 0.42% lead, 0.00% zinc and 0.047 ounces per ton gold.

Although believed to be relevant and reliable by Alexco management, this historical resource estimate

predates National Instrument 43-101 (“NI 43-101”) and is not compliant with NI 43-101 resource

categories.

Results of all of the released 2009 Keno Hill drill hole results are available on the Alexco Resource

Corporation website at

True widths have not been determined for all the above reported drill intercepts but are believed to be

representative of actual drill thicknesses.

The 2009 exploration drill program and sampling protocol has been reviewed, verified and compiled by

Alexco’s geologic staff under the oversight of Stan Dodd, Vice President, Exploration for Alexco and a

Qualified Person as defined by NI 43-101. A rigorous quality control and quality assurance protocol is

used on the project, including blank, duplicate and standard reference samples in each batch of 20

samples that were delivered to the lab. All drill core samples were shipped to Eco Tech Laboratory at

Whitehorse, YT for preparation with fire assay and multi-element ICP analyses done at Eco Tech

Laboratory’s facility at Kamloops, BC.

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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 of new mining opportunities.

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.