It is one of four flood control lakes in North Mississippi constructed by the U.S. Army Corps of Engineers.

The dam is located on the Yalobusha River approximately 3 miles (5 km) northeast of Grenada, Mississippi.

Since its impoundment, Grenada Lake has attracted an ever-increasing number of visitors who enjoy water-based and other outdoor recreational activities and is host to several fishing tournaments annually as well.

Grenada Lake is the home to Hugh White State Park and its associated Carver Point Group Camp.

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