The city of Cold Lake is located on the shore. Excepting the western shore, the lake is surrounded by protected areas such as the Cold Lake Provincial Park in Alberta and the Meadow Lake Provincial Park in Saskatchewan.
The city of Cold Lake is situated on the waterfront. The exception to this is the western shore, which is not protected by a park or reserve; instead, it is flanked by areas such as the Cold Lake Provincial Park in Alberta and the Meadow Lake Provincial Park in Saskatchewan.