[4] It combined the former Townships of Beardmore and Nakina, the Towns of Geraldton and Longlac with large unincorporated portions of Unorganized Thunder Bay District.

[5] Greenstone includes the communities of Beardmore, Caramat, Geraldton, Jellicoe, Longlac, Macdiarmid, Nakina and Orient Bay.

Tom Johnson and Robert Wells filed claims based on gold appearing in Magnet Lake quartz outcrop and the presence of bismuthinite.

Following the completion in 1924 of the Longlac-Nakina Cut-Off by the Canadian National Railway, connecting the rails of the Canadian Northern Railway at Longlac and the NTR, Nakina became the new divisional point, and the buildings from the town of Grant (25 km (16 mi) to the east) were moved to the new Nakina town site.

During World War II, there was also a radar base[7] on the edge of the town, intended to watch for a potential attack on the strategically important Soo Locks at Sault Ste.

[citation needed] The settlement of Geraldton is a compound of the surname of financiers of a nearby gold mine near Kenogamisis Lake in 1931 (Fitzgerald and Errington).

[8] The Geraldton-Beardmore Gold Camp, in the heart of the Canadian Shield, hosts numerous mineralized zones which continue to be explored for potential development.

Tom Powers and Phil Silams staked what became the Northern Empire Mine (1925–1988) near Beardmore, which produced a total of 149,493 ounces of gold.

[9] The town remains focused on tourism, diminished pulp and paper operations and support of other more northern communities (food, fuel and transportation).

As of 2009[update], a proposed ore transport point around Nakina, as part of the Ring of Fire development, may shift the emphasis of local industry from logging back to mining.

In 2010 the Ring of Fire development, proposed James Bay rail link and placement of processing plants remains of great economic interest for the region.

Flames reached within 500m of the municipal buildings in Geraldton and crossed the runway of the town's airport, but no structures were lost.

[19] On 4 March 2006 Letters Patent were presented by the Canadian Heraldic Authority, granting arms, flag and badge to the Corporation of the Municipality of Greenstone.

[20] The flag consists in a banner of arms while the badge is described as: on a miner's pick and a double-bitted axe in saltire Argent hafted Vert, a railway wheel Or charged with a grey wolf's head erased proper.