Bank of Toronto (Yellowknife) the resulting staking spree around the region. As the gold rush ended, the volume of business was insufficient to keep the bank profitable, and the Bank of Toronto closed this branch in August 1951. Purchased by prospector Sam Otto in 1964, the old log cabin was renovated and moved to its current location on Latham Island for use as a rental residence. The Bank of Toronto was designated a City of Yellowknife Heritage Site in 1998. Bank of Toronto (Yellowknife) The Bank of Toronto is a historic cabin located in Old Town, Yellowknife, Northwest Territories, Canada. The log cabin was
Yellowknife Yellowknife began with the discovery of diamonds north of the city in 1991. The last of the gold mines in Yellowknife closed in 2004. Today, Yellowknife is primarily a government town and a service centre for the diamond mines. On April 1, 1999, its purview as capital of the NWT was reduced when the territory of Nunavut was split from the NWT. As a result, jurisdiction for that region of Canada was transferred to the new capital city of Iqaluit. Consequently, Yellowknife lost its standing as the Canadian capital city with the smallest population. Yellowknife is on the Canadian Shield,