Advised Alexco Resource Corp. regarding agreements with the First Nation of the Na-Cho Nyak Dun

On September 25, 2007, Alexco Resource Corp. and the First Nation of the Na-Cho Nyak Dun (the "FNNND") announced that they had entered into a Negotiation Agreement relating to the activities of Alexco's subsidiary, Elsa Reclamation & Development Company Ltd. ("ERDC") on and around Alexco's Keno Hill Project. The Negotiation Agreement provides for collaboration by ERDC and the FNNND as well as support in principle by the FNNND in relation to current activities at the property. It contemplates that ERDC and the FNNND will work collaboratively in good faith with one another in order to facilitate and ensure the meaningful participation of the FNNND in regulatory processes concerning the Keno Hill Project. Alexco was advised in the negotiation of this agreement by Paul Wilson, Michelle Pockey and Josh Lewis of Fasken Martineau.