A couple of hundred years ago, a wild and unruly family fell upon a floundering ship filled with gold. Gold fever and bandits destroyed the Fiend family, but through their cunning the treasure was hidden and remained that way for almost 200 years. Edgar Reyner, a multimillionaire, bought the island reputed to be the hiding place of Fiend's gold. He, too, became a victim of gold fever and was killed for his efforts. Edgar left the bulk of his estate to his unruly and lazy nephew William Reyner (Bill). William Reyner and his grandmother visit the lawyer in a northern Ontario town, where they become the heirs to the Reyner fortune. Bill visits his new island and learns of the mysteries and ghosts that inhabit the lonely outpost. Overcome by the island's tranquillity and beauty, he makes the fatal decision to hunt for the long-lost treasure. Murder and chaos ensue, leaving Bill and his grandmother to face the unknown assailant alone.