Its outlet forms the beginning of the great Mackenzie River. Yellowknife, the capital and largest city of the Northwest Territories, and several small settlements lie on or near the lake's shores. Yellowknife is a gold-mining center. Commercial fishing in the lake and good timber on the southern shore provide other sources of income in the area. Great Slave Lake is famous for severe and unpredictable storms.
Ice covers Great Slave Lake eight months a year.
In 1771, the English explorer Samuel Hearne became the first white person to reach the lake. Fur trading developed in the area. Several fur-trading posts were established, and later became permanent settlements. The lake was named for the Slavey Indians, who lived in the area. Population of Provinces and Territories 3.