Myrnam's post office opened in August 1908, and a small settlement formed around it.

The Canadian Pacific Railway established a siding and townsite in 1927, and named it after the original settlement.

[3] Myrnam is located 5 minutes south of the North Saskatchewan River, which provides both summer and winter recreational opportunities.

There are two bird sanctuaries located near Myrnam, and Fort de L'Isle Historical Site is nearby.

Sports and activities include curling, volleyball, badminton, track and field, golf, cross country, and basketball.