In 1949, the lake was dry. One large permanent island, known as the Isle of Bays, is located about 5 km from shore. A second island appears during low water levels. Emergent vegetation growth is inhibited by extensive wave action which occurs on much of the lake. Shrubs, mainly snowberry and rose, also cover the higher parts of the Isle of Bays.
Adjacent uplands are native prairie pasture and cultivated lands.
Old Wives Lake, the Isle of Bays and the surrounding native prairie uplands are proposed IBP sites. Public Use Fall staging waterfowl on Old Wives Lake ensures good duck hunting, particularly Mallards, on fields south and west of the lake. A small harvest of Canada Geese is also taken annually. Recreational use of the Sanctuary is low. The turbid water, rough shoreline and severity of water level fluctuations is unattractive to recreationists.