Claims at the Bonanza Queen were initially staked in 1891 by John F. Bender, Z. W. Lockwood and J. O. Marsh. However, no work was done, and the claims became invalid. In 1896, the same John F. Bender and Z. W. Lockwood, along with Angus Sutherland relocated the claims and bonded them to Dennis Ryan.
The Bonanza Queen Mining Company owned the property from 1908-1915 and the M.N.R Mining Company in 1919.
The Bonanza Queen was a primary producer of copper, gold, and silver. Ten carloads of ore were shipped prior to 1909 gave returns of $14.50 per ton.
Snohomish County took posession of the property in 1924 for non-payment of taxes. The property was sold to Mr. P. H. Holdsworth. Mr. Holdsworth held the property until the late 1930's when it again reverted to Snohomish County. The county retained the property until 1943 when Mr. Holdsworth again purchased it. Through the efforts of U. S. Senator Slade Gorton and U. S. Representative Norm Dicks, the Forest Service purchased the mine in 1999 for a reported sum of $3,000,000. The 306 acre parcel was designated as critical salmon habitat. At the time of purchase, the property was under control of the Auker family.
The property originally consisted of 3 adits totaling 3000 feet.
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