In the winter, Canal Lake has levels reduced by 3 feet (0.91 m) for shoreline maintenance.

Nearby towns include Beaverton, Fenelon Falls, Lindsay, and Bobcaygeon.

It is located on Centennial Park Road on the southwest side of the Trent Severn Waterway bridge, northeast of Bolsover.

The bridge was designated a National Historic Site of Canada in 1988.

There was a variety of fish available including largemouth bass, pike and muskellunge (muskie) and an abundance of panfish.Over fishing has led to Canal Lake’s demise as a quality lake.