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Alexco Environmental Group


General Disclaimer

Alexco Resource Corp. (“Alexco”), has taken all reasonable care in producing and publishing information contained on this web site, and will endeavor to do so regularly. Information posted on this web site is believed to be accurate at the time of posting, but may not be current when accessed, and material on this site may contain technical or other inaccuracies, omissions, or typographical errors, for which Alexco assumes no responsibility. Alexco does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Alexco be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material on this site. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express permission.

The information provided on this web site is provided solely for the reader’s general knowledge. The information is not intended to be a comprehensive review of all matters and developments concerning Alexco. For current information, refer to the documents filed by Alexco with Canadian securities regulatory authorities on the web site www.sedar.com. Access to this web site is provided on the condition that any use of this web site is at the risk of the user, and Alexco shall in no event be liable in any way for any damages, claims, losses or liabilities whatsoever arising or relating to the use of this web site.

This web site and the information contained herein do not constitute an offer or the solicitation of an offer for the purchase of any securities of Alexco. The information on this web site is not intended in any way to qualify, modify or supplement any prospectus or other information disclosed under the corporate and securities legislation of any jurisdiction applicable to Alexco. No securities commission or similar authority in Canada or the United States of America has in any way passed on the merits of any of the information contained on this web site.

Cautionary Statement Regarding Forward-Looking Statements

This web site contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities laws (hereinafter collectively referred to as “forward-looking statements”) concerning Alexco’s business plans, including but not limited to anticipated results and developments in Alexco’s operations in future periods, planned exploration and development of its mineral properties, plans related to its business and other matters that may occur in the future.

Forward-looking statements contained in this web site may include statements with respect to, but not limited to: future remediation and reclamation activities; future mineral exploration; the estimation of mineral reserves and mineral resources; the realization of mineral reserve and mineral resource estimates; estimates of mineralization that may be encountered if a property is developed; future mine construction and development activities; future mine operation and production; the timing of activities; the amount of estimated revenues and expenses; the success of exploration activities; permitting time lines; requirements for additional capital; and sources and uses of funds. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “estimates”, “intends”, “strategy”, “goals”, “objectives” or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Such factors include, but are not limited to, risks related to actual results and timing of exploration and development activities; actual results and timing of mining activities; actual results and timing of environmental services operations; actual results and timing of remediation and reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of silver, gold, lead, zinc and other commodities; possible variations in mineable resources, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; First Nation rights and title; continued capitalization and commercial viability; global economic conditions; competition; and delays in obtaining governmental approvals or financing or in the completion of development activities. Furthermore, forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of Alexco or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including but not limited to those referred to in its most recent Annual Information Form (the “AIF”) and other disclosure documents under the heading “Risk Factors” and elsewhere.

Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. In making the forward-looking statements included in this web site, Alexco has applied several material assumptions, including, but not limited to, the assumption that: (1) additional financing needed will be available on reasonable terms; (2) the proposed development of its mineral projects will be viable operationally and economically and proceed as planned; (3) market fundamentals will result in sustained silver, gold, lead and zinc demand and prices, and such prices will not be materially lower than those estimated by management in connection the making of such forward-looking statements; (4) the actual nature, size and grade of Alexco’s mineral resources are materially consistent with the resource estimates reported in its supporting technical report(s); (5) labor and other industry services will be available to Alexco at prices consistent with internal estimates; (6) the continuance of existing and, in certain circumstances, proposed tax and royalty regimes; and (7) that other parties will continue to meet and satisfy their contractual obligations to Alexco. Other material factors and assumptions are discussed in the AIF and Alexco’s various other continuous disclosure documents under the heading “Risk Factors” and elsewhere.

Alexco’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and should not be relied on as representing Alexco’s views on any subsequent date. While Alexco anticipates that subsequent events may cause its views to change, Alexco specifically disclaims any intention or any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change, except as required by applicable law. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

Cautionary Note to U.S. Investors - Information Concerning Preparation of Resource Estimates

Information on this web site has been prepared and disclosed in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of United States securities laws. Unless otherwise indicated, all resource and reserve estimates disclosed on this web site have been prepared in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and the applicable standards developed by the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”). NI 43-101 contains rules developed by the Canadian Securities Administrators that establish standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. NI 43-101 permits the disclosure by an issuer of an historical estimate with respect to a mineral deposit that was made before it entered into an agreement to acquire an interest in the property that contains such deposit, which historical estimate may use historical terminology that does not otherwise comply with NI 43-101 if the disclosure: (a) identifies the source and date of the historical estimate, including any existing technical report; (b) comments on the relevance and reliability of the historical estimate; (c) to the extent known, provides the key assumptions, parameters and methods used to prepare the historical estimate; (d) states whether the historical estimate uses categories other than those prescribed by NI 43-101 and if so includes an explanation of the differences; (e) includes any more recent estimates or data available to the issuer; (f) comments on what work needs to be done to upgrade or verify the historical estimate as current mineral resources or mineral reserves; and (g) states with equal prominence that a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and that the issuer is not treating the historical estimate as current mineral resources or mineral reserves.

The terms “mineral reserve”, “proven mineral reserve” and “probable mineral reserve” are Canadian mining terms as defined in accordance with NI 43-101 and the CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended. These definitions differ from the definitions in the United States Securities and Exchange Commission’s (“SEC”) Industry Guide 7 under the United States Securities Act of 1933, as amended. Under SEC Industry Guide 7 standards, mineralization cannot be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally extracted at the time the reserve determination is made. As applied under SEC Industry Guide 7, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves, and all necessary permits and government authorizations must be filed with the appropriate governmental authority.

In addition, the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in and required to be disclosed in accordance with NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. Investors are cautioned not to assume that all or any part of a mineral deposit in these categories will ever be converted into reserves. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable.

Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC Industry Guide 7 standards as in place tonnage and grade without reference to unit measures.

Accordingly, information concerning mineral deposits contained in this web site may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.

Qualified Persons

Except where specifically indicated otherwise, the disclosure in this web site of scientific and technical information regarding exploration projects on Alexco’s mineral properties has been reviewed and approved by Alan McOnie, FAusIMM, Vice President, Exploration, while that regarding mine development and operations has been reviewed and approved by Neil Chambers, P.Eng., Mine Superintendent, both of whom are Qualified Persons as defined by NI 43-101. All material technical information included herein has been disclosed by Alexco in its public filings, and the viewer is particularly directed to Alexco’s most recently filed AIF and U.S. Form 40-F and its most recently filed interim and annual financial reports and related management’s discussion and analysis; as well as the remaining filings comprising Alexco’s continuous disclosure records.

Third Party Links

To facilitate visitor access, Alexco has provided links from this web site to several other third-party web sites that are arm’s-length to Alexco. The viewer should be aware that in linking to these outside web sites, he or she is leaving the Alexco web site and that Alexco does not control any third-party site and is not responsible for the content of any third-party site. Alexco is providing such links to visitors only as a convenience and the inclusion of any link does not imply any endorsement, review, investigation or verification of any kind whatsoever by Alexco in respect of the linked site or any information contained therein.


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