REVISED ANNUAL INFORMATION FORM ALEXCO RESOURCE CORP. Suite 1150, 200 Granville Street Vancouver, British Columbia, V6C 1S4 Telephone: (604) 633-4888 Facsimile: (604) 633-4887 E-Mail: [email protected] Website: www.alexcoresource.com For the year ended December 31, 2013 Dated March 25, 2014 TABLE OF CONTENTS Page PRELIMINARY NOTES ............................................................................................................................ 3 GLOSSARY OF TECHNICAL TERMS .................................................................................................. 5 CORPORATE STRUCTURE ................................................................................................................... 9 GENERAL DEVELOPMENT OF THE BUSINESS .............................................................................. 9 Formation of the Corporation ................................................................................................................. 9 Three Year History and Significant Acquisitions ................................................................................... 9 DESCRIPTION OF THE BUSINESS .................................................................................................... 11 Eastern Keno Hill Silver District .......................................................................................................... 12 Bellekeno Mining Operations ........................................................................................................ 12 EKHSD PEA .................................................................................................................................. 12 Other Keno Hill District Properties ...................................................................................................... 26 Onek Property ................................................................................................................................ 26 Bermingham Property .................................................................................................................... 30 Elsa Tailings Property ................................................................................................................... 35 Environmental Services ........................................................................................................................ 40 General .......................................................................................................................................... 40 Keno Hill Project ........................................................................................................................... 40 Social and Environmental Policies ....................................................................................................... 41 Risk Factors .......................................................................................................................................... 41 Exploration, Evaluation and Development .................................................................................... 41 Figures for the Corporation's Resources are Estimates Based on Interpretation and Assumptions and May Yield Less Mineral Production Under Actual Conditions than is Currently Estimated ....................................................................................................... 42 Keno Hill District ........................................................................................................................... 42 Mining Operations ......................................................................................................................... 42 Employee Recruitment and Retention ............................................................................................ 43 Permitting and Environmental Risks and Other Regulatory Requirements .................................. 43 Environmental Services ................................................................................................................. 44 Potential Profitability Of Mineral Properties Depends Upon Factors Beyond the Control of the Corporation ........................................................................................................ 44 First Nation Rights and Title ......................................................................................................... 44 Title to Mineral Properties ............................................................................................................ 45 Capitalization and Commercial Viability ...................................................................................... 45 General Economic Conditions May Adversely Affect the Corporation’s Growth and Profitability ................................................................................................................................ 45 Operating Hazards and Risks ........................................................................................................ 45 Competition .................................................................................................................................... 46 Certain of the Corporation’s Directors and Officers are Involved with Other Natural Resource Companies, Which May Create Conflicts of Interest from Time to Time .................. 46 The Corporation May Fail to Maintain Adequate Internal Control Over Financial Reporting Pursuant to the Requirements of the Sarbanes-Oxley Act. ....................................... 46 DIVIDENDS ............................................................................................................................................... 46 DESCRIPTION OF CAPITAL STRUCTURE....................................................................................... 46 MARKET FOR SECURITIES ................................................................................................................. 46 Trading Price and Volume.................................................................................................................... 46 Securities Not Listed or Quoted ........................................................................................................... 47 DIRECTORS AND OFFICERS .............................................................................................................. 48 Name, Occupation and Security Holding ............................................................................................. 48 Cease Trade Orders, Bankruptcies, Penalties or Sanctions .................................................................. 49 Conflicts of Interest .............................................................................................................................. 50 AUDIT COMMITTEE INFORMATION .................................................................................................. 50 Audit Committee Charter ..................................................................................................................... 50 Composition of the Audit Committee .................................................................................................. 55 Reliance on Certain Exemptions .......................................................................................................... 55 Audit Committee Oversight ................................................................................................................. 56 Pre-Approval Policies and Procedures ................................................................................................. 56 External Auditor Service Fees (By Category) ...................................................................................... 56 LEGAL PROCEEDINGS AND REGULATORY ACTIONS ............................................................... 57 INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS ..................... 57 TRANSFER AGENTS AND REGISTRARS ........................................................................................ 57 MATERIAL CONTRACTS ...................................................................................................................... 57 INTERESTS OF EXPERTS .................................................................................................................... 57 Names of Experts ................................................................................................................................. 57 Interests of Experts ............................................................................................................................... 58 ADDITIONAL INFORMATION ............................................................................................................... 58 - 3 - PRELIMINARY NOTES In this revised Annual Information Form (“AIF”), Alexco Resource Corp. is referred to as the “Corporation” or “Alexco”. All information contained herein is as at and for the year ended December 31, 2013, unless otherwise specified. All dollar amounts in this AIF are expressed in Canadian dollars unless otherwise indicated. This AIF has been revised only to correct a typographical error in the date at which it has been prepared, to read March 25, 2014 instead of March 25, 2013. Cautionary Statement Regarding Forward-Looking Statements This AIF 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