[1] It lies approximately 6 kilometres (4 mi) east of the much larger Lake Nipissing, with the city of North Bay in between them.

Trout Lake is the source of the Mattawa River and a significant body of water on a well-known historic North American voyageur (fur-trading) route.

[3] A train derailment in the 1980's resulted in a significant toxic spill, which ended up wiping out the lake's population of landlocked Atlantic salmon.

[3][better source needed] Although Atlantic salmon was successfully introduced into the lake in the past, spawning in Four Mile Creek, they did not survive the 1980's zinc spill.

The City of North Bay maintains two lifeguard-staffed swimming beaches on the western shores of the lake.