Members of the Wabigoon Band of Saulteaux living on the western portion of the Indian reserve moved away and formed the Eagle Lake First Nation.

Those living on the eastern portion of the Reserve officially changed its name to Wabigoon Lake Ojibway Nation on August 7, 1987.

In 2021, as part of a search for a site for a deep geological repository for Canada's used nuclear fuel, the Nuclear Waste Management Organization (NWMO) drilled boreholes in a rock formation known as the Revell Batholith, located south of Highway 17, about 35 kilometres west of Ignace (between Ignace and Wabigoon Lake Ojibway Nation).

On November 28, 2024, the NWMO selected Wabigoon Lake Ojibway Nation and the township of Ignace as the site of a nuclear waste repository.

The First Nation elect their officials through the Act Electoral System, consisting of a Chief and four councillors.