Negotiations are expected to take until the year 2000. The deep pocket of water formed by Wager Bay extends the coastal marriage of land and water, which contributes to the uniqueness of the area. The bay supports bearded seals, ringed seals and, in the summer, beluga whales, usually accompanied by young. Polar bears are numerous, although their numbers vary from year to year. Forty species of birds nest at Wager Bay, including Canada's densest population of peregrines.
Many species also stop on their migrations north and south.