Forrest Fenn’s treasure was found in Wyoming , in the Rocky Mountains, on June 5, 2020, by searcher Jack Stuef.

Where exactly was it found?

Publicly, the only officially confirmed detail from Fenn and the finder is that the chest was hidden somewhere in Wyoming, not in New Mexico, Colorado, or Montana.

They stated that the chest sat undisturbed in that same Wyoming spot for about ten years until it was recovered in 2020.

The Yellowstone / Nine Mile Hole theory

Since 2022, a leading theory among researchers and in lawsuits and FOIA disclosures is that the treasure was hidden in Yellowstone National Park, at a fishing area on the Madison River known as Nine Mile Hole.

Emails attributed to Jack Stuef, along with ranger notes and a reported Zoom call with Yellowstone officials, have been used to argue that Nine Mile Hole was Fenn’s favored spot and the true hiding place.

However, this Yellowstone / Nine Mile Hole location has never been formally confirmed in an official public statement by the National Park Service, Fenn’s estate, or the finder, so it remains a well-supported but still debated solution.

Quick forum-style recap

Many treasure-hunters accept “Wyoming” as the only hard-confirmed answer, while a big slice of the community now believes the precise spot was Nine Mile Hole in Yellowstone, based on court records, emails, and FOIA material.

So, if you’re answering in one line:

  • Safest factual answer: Wyoming, Rocky Mountains.
  • Popular detailed theory: Nine Mile Hole on the Madison River in Yellowstone National Park.

Information gathered from public forums or data available on the internet and portrayed here.