Cowal before it was the defended medieval homestead of the MacEwens; at first there was a palisaded enclosure, and then a promontory fort with a timber rampart. The remote areas in the north east of Cowal, which were theoretically under the dominion of Clan Lamont, were used by Scottish kings for hunting; indeed, Cowal was the last part of Britain to have wild boar. When King John Balliol was threatened by his rival, Robert de Bruys, Balliol's ally, the king of England, established Henry Percy at Carrick Castle, in the region; likewise Dunoon Castle further south. De Bruys expelled the English
Lake Cowal benefits economically to the town of West Wyalong with increased employment. Barrick Gold was granted a "Section 90" by National Parks and Wildlife. Lake Cowal is known as the heartland of the Wiradjuri nation and is rich in artifacts. Wiradjuri elder Neville "Chappy" Williams led a campaign to save Lake Cowal and the Wiradjuri heartland. The Lake Cowal Campaign aims to prevent further gold mining by Evolution Mining in the environmentally-fragile area around Lake Cowal and to stop land degradation and possible toxicity problems from the mine and its tailing dams. The Wiradjuri people are being joined in their campaign