Grays Peak Trail is south of Interstate 70, east of Keystone Resort and near Montezuma.

The Grays Peak Trail begins three miles (4.8 kilometers) above Interstate 70, at 11,200 feet (3,400 meters).

The trail passes between Stevens Mine on a lower slope of McClellan Mountain, elevation 13,587 feet (4,141 meters), forming the eastern wall of the valley, and Sterling Silver Group Mine beside the trail to the right on Kelso Mountain, 13,164 feet (4,012 meters).

Wildflowers that bloom in the tundra area on the Continental Divide include moss campion (Silene acaulis), alpine forget-me-not (Myosotis alpestris), sky pilot (Polemonium viscosum), sea pink, old-man-of-the-mountain (Rydbergia grandiflora), and mountain gentian (Gentiana).

In the Deer Creek Valley, below the tree line, the blooms of monkshood or wolfsbane, blue columbine, fireweed, and paintbrush (Castilleja) can be found.