Forrest Fenn Treasure Location

Background

In 2010, Forrest Fenn published a poem in his memoir The Thrill of the Chase, which included clues to the location of a million-dollar treasure. The hunt ended approximately 10 years later, on June 5, 2020, when Jack Stuef alerted Forrest of the find. In December 2022, the chest contents were sold at auction. Jack has still not described where the chest was found, and sadly, Forrest has passed away.

Evidence of the location has been uncovered from tangential lawsuits, FOIAs, and recovered message board archives (described in detail below). This evidence supports the conclusion that the chest was found in Yellowstone National Park at Forrest's favorite fishing hole, Nine Mile Hole.


This page aims to provide those who heard about Forrest Fenn's hunt with peace of mind regarding the end of the hunt. Visiting this location yourself is not a good idea. The river is wild and can be dangerous to cross, hazardous animals frequent the area, and too many visitors to any location in the woods can cause damage. The precise location is unremarkable and difficult to recognize, and visiting it might even be against park rules (it is not clear).

The area's best views can be had right from the parking pullout. Forrest liked this location because of the fishing hole, not because of this place in the woods nearby. Instead of attempting to visit the site yourself, enjoy the photos (1, 2, 3) and videos (1, 2, 3, 4) already available online.

The Solution

Nearly all rivers begin in distant headwaters, but not the Madison River. It begins mid-course as an already large river. Thermal springs create the warm water of the Firehole, which halts as it mixes with the cool water of the Gibbon to form the Madison River.

Madison Junction

2. Take it in the Canyon Down

Drive downstream through Madison Canyon

Madison Canyon

3. Too far to Walk

The four-mile journey was too far to walk for an 80-year-old Forrest.

4. Below the Home of Brown

Stop at Nine Mile Hole, a famous home of brown trout. Forrest's family would joke about the elusive fish they could hook but never reel in, Mr. Brown.

Put into the water just below the fishing hole.

Nearby sign explaining how the Madison River is a paradise for trout.

Wade right below the rock pictured in The Thrill of the Chase.

5. No Place for the Meek

Crossing the river is not for the meek.

6. End is Drawing Nigh

You are nearing the end of your journey, where the treasure lies.

7. Up Your Creek

One feature of Nine Mile Hole that attracts trout and makes it a world-class fishing hole is the creek that enters the river just upstream.

The Madison River at Nine Mile Hole

8. Heavy Loads and Water High

The treasure is certainly a heavy load that Forrest carried across wading with the water high up to his knees.

9. The Blaze

Now, look for the blaze, a notch carved on a tree.

From Jack's account, the blaze was damaged and barely recognizable.

Proof of The Location

Jack SearchED NinE Mile Hole

The evidence for Nine Mile Hole starts with the many emails in 2018 and 2019 that Jack sent Forrest about his certainty that Nine Mile Hole was the correct location. The emails were revealed in the McCracken trial (YouTube). Examples:

"I'm certain you hid your treasure at Nine-Mile Hole [...]"

"I wrote you a long email about my searches at Nine-Mile Hole."

"[I'm] now ready to discuss with you what I found at Nine-Mile Hole last month"

"Did you fish with any of them at Nine Mile Hole?"

"Yes, my home of brown was the actual hole at the Nine-Mile Hole."

"If someone wanted to go below the hole at Nine-Mile Hole, what would you consider the end of the hole?"

"[...] in the 22 days I have searched at Nine-Mile Hole in Yellowstone [...]"

"I know my track record at Nine-Mile Hole has been abysmal [...]"

"I wrote up some lyrics to the Nine Mile Hole Days of Christmas in case you're in a caroling mood about your special spot."

The photo of Nine Mile Hole Jack sent to Forrest in December 2019

Emails from Yellowstone NPS

Forrest and Jack revealed the treasure location via Zoom to Yellowstone Chief Ranger Sarah Davis and Deputy Ranger Chris Flesch on Aug 17, 2020. 

This meeting was described by Sarah Davis in the court injunction and also shown on her FOIA'd calendar.

Two separate FOIAs were sent for NPS emails.

As it turns out, discussion of these two topics occurred simultaneously on two dates 16 months apart. This suggests these topics are related.

A map was made under an urgent request for an environmental impact report for increased visitation Dec 2, 2020.

On November 25, 2020, a subpoena was issued requiring the Fenn estate to disclose Jack's identity. Shortly after, there was a flurry of NPS emails about the treasure and an urgent environmental impact report asking how Nine Mile Hole would be impacted by increased visitation due to a risk that could not be named. The NPS geo team drew up a map of Nine-Mile Hole.

More than a year passed, then on March 30, 2022, Jack received a notice of deposition in the probate trial. Shortly after, the NPS sent another flurry of emails, some discussing the treasure and some discussing Nine-Mile Hole using the same map prepared in 2020. Then, a few weeks later, the DOI intervened to prevent Jack from speaking in the probate trial. The intervention included a deposition by Sarah Davis describing how increased visitation would impact the location in similar language to the 2020 environmental impact request about Nine Mile Hole. The DOI motion was denied.

The next month, the treasure's location was rediscovered, and the coordinates were publicly posted on Facebook, public message boards, Discord chat, and YouTube videos. That same day, a national park ranger ordered staff not to discuss "Nine Mile Hole/Forrest Fenn Treasure" with anyone.

Yellowstone Western District Ranger Mark Eckert sent this email on May 13, 2022 (emphasis added)

Photos From Jack

Jack Stuef sent the following photos in his June 5, 2020 email to Forrest Fenn. The photos became publicly viewable after the Jamie McCracken court case (forum, YouTube).  (photos presumably © Jack Stuef, used for discussion under fair use)

The chest in place, just uncovered. It appears that the chest was fully underneath the dirt/debris. A log can be seen just above the chest, and a stump in the upper left-hand corner. 

The chest was dug out (1, 2), then placed in a second position (3, 4). These photos are compared in detail below.

Finding the Spot

Amazingly, someone found an exact match to the location where Jack's photos were taken at Nine Mile Hole and recorded a video of their trip to the spot.

This location is approximately 150 feet from the bank of the Madison under a seemingly randomly selected log.

The Stick

Jack discarded the stick pictured in the center of the chest, 

"I took those photos at the spot [...]. I didn’t notice the twig until after I pressed the button to take the photo, then tossed it aside [...]"

Remarkably, the stick in the treasure chest photo has been found. It was indeed resting at the treasure site at Nine-Mile Hole.

Comparison of the stick found on-site and the stick in the chest photo.

Soil Trace-Metal Testing

The treasure chest was made from bronze, which is primarily copper. After 10 years outdoors, corrosion of the chest may have left a detectable amount of copper in the soil. 

The copper concentration of the soil was tested in the suspected chest location and in a similar location approximately ten feet away.

Soil testing locations

Testing showed elevated copper concentrations at the suspected chest location.

In addition, 46 other soil tests were taken in the broader Nine Mile Hole area. They had a mean copper concentration of 6.6 ppm and a standard deviation of 1.6. That means the samples at the suspected chest location (85.4 and 107.9) are 50 standard deviations above the mean of those samples, which is incredibly anomalous.

Analysis of Photo Angles

The First Position

The chest was found in this position, partially under a log and covered with debris. The approximate camera angle is shown.

Jack's chest photo.

Photo of the same log in 2022 (source). Years of aging have degraded the log, but the fine details are unmistakable given a close look.

Many common features are recognizable. The blue area is where the photo was split/aligned to make comparing the two photos possible on either side of the crack.

Matching details can be found when comparing the stump in Jack's photo to the one found at Nine Mile Hole in 2022 (source).

The Second Position

The chest's second position was nearby the first. As Jack described his photo (below) on Medium, "The treasure, a couple of feet from the nook in which it had been placed." The approximate camera angle is shown.

The second chest position. Jack's photo is overlaid on a photo from Nine Mile Hole. The matching log feature is highlighted. 

Second chest position. Another Jack photo overlaid on the same photo from Nine Mile Hole. The matching log feature is highlighted. 


Additional Solve Support

Information from Jack

The finder frequently posted their thoughts on Reddit¹ during the years they were searching for the treasure. He posted several of his direct thoughts about the poem's lines to Reddit. He also sent Forrest emails describing some details of his solution. After the find, Jack confirmed with Forrest that he had all the clues figured out.

Here are some of the details from those posts and emails:

Madison Junction, where two endings meet one another ("ΩΩ", or the Firehole and Gibbon) and become a beginning ("turning Alpha", the start of the Madison).

Drive through it

A relative distance

My home of brown was the actual hole at nine mile hole

“Obviously a river crossing is no place for the meek.“

“You won’t be going up river, but rather directly across.”

“If anyone’s ever tried crossing a river in waders, this is an excellent way to describe the heavy loads of water pushing you as the water climbs higher up your body the deeper you get.”

The search you have to do for the blaze

Convergent Solves

Several treasure hunters had searched the same area where the treasure was eventually found. Some publicly provided their solutions, which align in large part. Although ending in the correct location does not prove their solutions correct, it provides a strong contender for the solution, as at least several searchers could agree on the interpretation before finding it.

Hints and Slip-ups

There were a few hints and slip-ups that Jack is rumored to have used:

Additional Confirmation

Cynthia Meachum, a close friend of Forrest and his family, confirmed important details of this solution.

Nine Mile Hole

This site is not affiliated with or endorsed by Forrest Fenn, the Fenn Estate, the Fenn Family, or Jack Stuef. The creators of this site have no first-hand knowledge of facts related to this hunt. The conclusions are solely based on the evidence presented.