[2] Conclusive evidence of the quality of iron in the area would not come until 1886 when Grand Marais pioneer Hazael "Henry" Mayhew made discoveries at the western end of the lake.

[4][5][6] With financial backing from the bank, the American Realty Company would purchase large tracts of land in Township 65, Range 4 West (T65, R4W) of Cook County.

Originally chartered in 1883 as the Thunder Bay Colonization Railway, the line changed its name and route in 1887 to tap the iron deposits of the Gunflint Range.

A US charter was obtained, known as the PAD&W of Minnesota, to allow construction to the mine and eventually to Ely to link with the Duluth and Iron Range Railroad.

They would publish an elaborate plat map in early 1893 entitled "Gun Flint Iron Range" which spoke of the great promise of the area.

[16][17] Located at Gunflint City was a unique business established by Fort William, Ontario "entrepreneur" Margaret "Mag" Matthews.