December 10, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Alexco Resource Corp. (AXU – AMEX) (AXR – TSX) said that it has entered into an agreement with a syndicate of underwriters in which the underwriters have agreed to purchase, on a bought deal basis, 3.75 million common shares of the company at a price of CAD$8.20 per share for gross proceeds of CAD30.75 million.

In addition, Alexco will grant the underwriter an over-allotment option, exercisable for a period of up to 30 days after the closing of the offering, to purchase from the company up to an additional 562,500 common shares at CAD8.20 per share to raise additional gross proceeds of up to CAD$4,612,500.

Alexco said that the underwriters will receive a cash commission of 6% of the gross proceeds raised, and share purchase warrants entitling the underwriters to purchase, at a price of $8.50 per share within 12 months after closing of the Offering, common shares of the company equal to 4% of the aggregate number of securities sold pursuant to the offering.

The company said it plans to use the net proceeds of the offering to fund project development and ongoing exploration activities, and for general corporate purposes.

Canada-based Alexco seeks 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.

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