Alexco Resource Corporation reported consolidated unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, the company's revenue from all operations was CAD 16.7 million compared with CAD 24.7 million a year ago. Operating loss was CAD 3,499,000 against operating income of CAD 2,587,000 a year ago. Loss before taxes was CAD 3.4 million compared with income before taxes of CAD 2.98 million a year ago. Net loss was CAD 2.3 million or CAD 0.04 per basic and diluted share compared with net income of CAD 1.3 million or CAD 0.02 per basic and diluted share a year ago, primarily due to decreased silver production during the quarter. The results with the difference due entirely to weak results for the quarter at the Bellekeno mining operation. Cash flows from operating activities were CAD 1.4 million compared with CAD 7.2 million a year ago, with the decrease due primarily to the abnormally low level of production from Bellekeno in the first quarter due to the mine sequencing issues. Purchase of property, plant and equipment was CAD 1,708,000 against CAD 871,000 a year ago. Investment in mineral properties was CAD 6,812,000 against CAD 7,605,000 a year ago.

Full-year 2013 guidance for Bellekeno remains unchanged in the range of 1.9 million to 2.1 million ounces of silver as operations are sequencing back into higher grade areas of the Bellekeno mine.

The company's exploration plans in 2013 are of smaller scale than 2012, with a budget of between CAD 3 million to CAD 5 million.

The company announced inventory write-down of CAD 663,000 for the first quarter ended March 31, 2013.