The Lake (Lupus 1) showing occurs about 800 metres northwest of the north end of Wolf Lake.

The area is underlain primarily by basaltic to andesitic lavas of the Upper Triassic Karmutsen Formation, Vancouver Group. These rocks are mostly massive flows and pillow lavas of partly amygdaloidal basalts, with minor tuffs, volcanic breccias and agglomerates.

The Lake showing was exposed in a rock quarry in 1983. The showing is made up of a vein, up to 9 centimetres wide, that plunges 30 degrees toward 080 degrees. The vein consists of a core of massive sulphides lined with quartz. Sulphides include pyrite, arsenopyrite, sphalerite, minor chalcopyrite and galena. Native gold is reported to occur with the arsenopyrite. The vein is enveloped by a narrow clay zone that contains broken sulphide-quartz material. This zone is enveloped by a dark grey alteration zone which grades into a more bleached zone which in turn grades into unaltered green Karmutsen volcanics.

In 1984, select grab samples of mineralized material yielded values up to 70.1 grams per tonne gold, 114.9 grams per tonne silver, 11.4 per cent zinc, 0.7 per cent copper and 0.09 per cent lead (Assessment Report 13426). In 1986, a sample of the zone material taken across 0.90 metres assayed 4.42 grams per tonne gold, 20.57 grams per tonne silver, 0.60 per cent zinc, 0.15 per cent copper, 1.59 per cent lead and 0.01 per cent arsenic (Assessment Report 15034). Various selected samples and samples taken across narrower widths contained significantly higher grades of all the above elements.

In 1984, Proquest Resources completed a program of geological mapping and rock, soil and silt sampling on the area as the Lupus claims. In 1986, Homestake Canada and Pan World Ventures completed various programs of geological mapping, rock, silt and soil sampling and a induced polarization survey. In 2005 and 2006 the area was prospected as the Wolf Lake property by Pearl Asian Mining Industries.