Discovery II is still in use as a tour vessel on the Chena and Tanana rivers near Fairbanks, Alaska.

Captain Jim Binkley purchased the Yutana in 1967 after its effective freighting life was over, and until 1970 it was drydocked on the Chena River near Fairbanks, Alaska.

In 1971, Jim Binkley was in need of a larger sternwheel riverboat with which to conduct his daily river tours (his first sternwheeler, Discovery I, frequently reached its maximum capacity of 150 passengers), and decided to convert the Yutana into a passenger vessel.

Together with his friend Iver Johnson, Jim Binkley renovated the Yutana and rechristened her the Discovery II.

After approximately 10 years on the drydock, Discovery II was relicensed and brought back into service in 1999 in preparation for the Riverboat Discovery's fiftieth anniversary, as well as to handle an increased number of passengers serviced by the company.