It was founded in part to compete with the increasing number of independent traders in the area and because the buffalo had moved south from Touchwood Hills.

The area is now part of Last Mountain House Provincial Park[7] and on the Canadian Register of Historic Places.

[9] The gates at Craven Dam on the Qu'Appelle River can be opened or closed for water level control measures.

The total size of all four sub-basins and the Moose Jaw River Watershed combined is 23,443 km2 (9,051 sq mi).

Clock-wise from the north, RMs include Wreford, Last Mountain Valley, McKillop, Longlaketon, Lumsden, Dufferin, Sarnia, and Big Arm.

[17] About 25 kilometres (16 mi) south-west of the town of Strasbourg, along the lake's eastern shore, lies Rowan's Ravine Provincial Park.

The marina there is often used by recreational boaters travelling from Regina Beach as a stop-over or refuelling point and large fishing tournament called Last Mountain Fall Walleye Classic is held there every September.

[19] It is in conjunction with Ducks Unlimited and part of the Valeport Marsh (SK 061) Important Bird Area (IBA) of Canada.

Along the west side of the Management Area is a Nature Conservancy of Canada property called Big Valley.

[20] The United Church of Canada's Lumsden Beach Camp is "[a] short drive from Regina, ... hugging the south shore of Last Mountain Lake."

The lake contains appropriate habitat for nine of Canada's 36 species of vulnerable, threatened and endangered birds, such as the peregrine falcon, piping plover, burrowing owl, and whooping crane.