[2][3] The Municipality of Harrison Park manages the lake, offering recreational fishing for northern pike, walleye, and yellow perch.

[4] Wargatie Lake also supports a large population of the northern leopard frog, a Species of Special Concern in Canada; the lake is believed to provide an overwintering habitat for the frogs.

[1] The lake was named for the family of Onofrey Wargatie, whose 1910 homestead was located nearby.

[5] Members of the family were deaf-mute, leading to the original name, Dummy Lake.

In 2000, the derogatory name was rescinded and replaced with the current name, which "commemorates the family more appropriately.