Alexco and the First Nation of Nacho Nyak Dun Sign Comprehensive Cooperation and Benefits Agreement

Vancouver, British Columbia--(July 5, 2010) - Alexco Resource Corp. (TSX:AXR, NYSE-AMEX:AXU) ("Alexco") and the First Nation of the Na-Cho Nyak Dun ("NND") are pleased to announce the signing of the Comprehensive Cooperation and Benefits Agreement ("Agreement").

Building on the accord that was reached in 2008 and memorialized as the Exploration Cooperation Agreement signed in May of that year, this new Agreement further solidifies the relationship between Alexco and NND as the Bellekeno Mine nears production. The Agreement replaces the earlier Exploration Cooperation Agreement, and sets out common understandings, obligations, and opportunities arising from exploration, care & maintenance, district closure activities, and mine production.

A key milestone in the revitalization of the Keno Hill Silver District, the Agreement positions Alexco to move forward in all of its current and future activities in the District with certainty, and ensures that NND is well positioned to maximize benefits that increased activity in the Traditional Territory will bring.

Covering surface and advanced exploration and environmental activities, care & maintenance, closure activities and mine production, the Agreement is a comprehensive tool for facilitating and ensuring the continuation of a good working relationship into the future. The Agreement also ensures that Alexco and NND will work together to facilitate the meaningful participation of NND in environmental regulatory processes concerning the further development of the Keno Hill Silver District.

Key Points of the Agreement

• Provides Project Certainty for the development of the Keno Hill Silver District;
• Mandates the Cooperative Engagement Process for involving constructive participation of NND in all existing and future environmental approval processes;
• Establishes a Business Development commitment for both parties to jointly identify and pursue contracting and partnering opportunities;
• Clearly identifies obligations and assigns responsibilities for straightforward implementation;
• Outlines Alexco's financial support for the establishment of NND scholarships, technical support for future regulatory submissions and legacy funding towards a community trust. 

"We are very pleased to have concluded a new Agreement with the FNNND that identifies and builds on mutually beneficial goals, establishes a cooperative engagement process and provides project certainty for Alexco to advance current and future projects.  The Agreement bolsters the solid social platform on which both Alexco and NND will cooperate," said Clynt Nauman, Alexco President and CEO.

"This agreement provides a solid and expanding foundation to build a long term relationship between Alexco and NND, it will provide the parties with mutual certainty which will enable activities and projects in the Keno Hill Silver District to proceed while fully addressing the First Nation's interests regarding economic opportunities and environmental stewardship", said NND Chief Simon Mervyn.